Release Date: April 15, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
Negative Points
Q & A Highlights
Q : Could you speak to the impact of retail pressure on equity market levels on your business in April? Has there been any notable deleveraging across your client base? A : We observed significant trading volumes as the market fluctuated. Clients traded fewer options but more futures, fixed income instruments, and foreign exchange. There was a 10% to 12% decrease in margin loans, indicating a reduction in risk posture. (Milan Galik, CEO)
Q : Any change in the appetite for US stocks since the tariff news began? What are your longer-term expectations for tariffs' impact on non-US appetite for trading US stocks? A : We continue to see a significant influx of new accounts, mostly from overseas, with no decrease in non-US clients' interest in US markets. The long-term impact of tariffs is uncertain, but lower taxes and regulation could help maintain interest in US investments. (Milan Galik, CEO)
Q : How do you think the emerging trade conflict could impact IBKR's global model, especially with most accounts coming from outside the US? A : We don't expect a negative impact as we offer both US and local markets on the same platform, allowing clients to manage assets globally. Our platform is well-positioned for market volatility, enabling clients to trade various asset classes seamlessly. (Milan Galik, CEO)
Q : Can you talk about the decision to expand your crypto offering and your comfortability with it? A : We added seven cryptocurrencies following regulatory changes, such as the SEC rescinding certain accounting guidance and reducing regulation by enforcement. While crypto trading isn't growing as fast as expected, we aim to provide a comprehensive offering for clients. (Milan Galik, CEO)
Q : Regarding your dividend policy, should investors expect an annual increase in the dividend going forward? A : We target our dividends to be between 0.5% and 1% of the stock price. (Thomas Peterffy, Chairman)
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
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