Interactive Brokers, one of the world’s largest online trading platforms has made it easier for smaller investors to trade the market by reducing the cost of running an inactive account.
It’s a move that a lot of trading platforms have made recently to maintaining competitiveness against the newer breed of nimble fintech, nipping at the incumbents heels.
Interactive Brokers announced the reduction in costs in an email to customers stating:
“This change will be reflected in your August 2021 account statement. Our decision to remove inactivity fees aligns us with industry standards and reflects our ongoing commitment to provide clients with low-cost trading solutions,” the US-listed brokerage noted in the email addressed to their users. According to their report for June, interactive Brokers had been witnessing positive numbers across all its fronts in terms of metrics, including Daily Average Revenue Trades (DARTs) and ending client margin loan balances.