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Interactive Brokers (IBKR) Unveils App for Global Stock Trading
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Interactive Brokers Group, Inc. (IBKR - Free Report) has introduced a mobile application for global stock trading. The firm recently launched IBKR GlobalTrader, which is a simple mobile trading application for investors around the world.
IBKR GlobalTrader has an efficient design. While novice investors will find the app easy to use, experienced stock traders will find it powerful enough.
With IBKR GlobalTrader, investors will be able to open an account in minutes and trade stocks on more than 80 stock exchanges in North America, Europe and Asia. Since the application has been developed specifically for global investors, it will allow them to make deposits in up to 23 currencies.
The deposits will be automatically converted at interbank rates into the currency required to buy and sell stocks across markets and geographies. For investors seeking global diversification but unsure of their options, the IBKR GlobalAnalyst scanner will help them identify the right opportunities.
Steve Sanders, the EVP of marketing and product development at IBKR, stated, “As a growing number of individuals around the world discover the benefits of actively participating in the financial markets, the need for a simple and easy to use stock trading app has never been greater. The IBKR GlobalAnalyst tool helps both beginners and advanced traders find investment opportunities, and then they can use the simple IBKR GlobalTrader app to trade stocks worldwide.”
Steve added, “We view it as a way to attract a new audience that’s used to something simpler. Our other platforms have lots of features, but some people may find them complex.”
With respect to expenses, trading costs with the application are transparent and low. U.S. residents can enjoy zero commissions on U.S. stocks, while commissions start at just $0.0035 per share for foreign investors. For forex transactions, commissions will be 3 basis points times the trade value, with no hidden spreads or markups.
With IBKR GlobalTrader, investors will be able to invest in fractional shares as well. Also, they will be allowed to switch positions in the same dollar amount from one security to another. Further, cryptocurrency trading will be made available for clients of IBG LLC.
Our Take
Interactive Brokers has always been focusing on developing proprietary software to automate broker-dealer functions, which has resulted in a steady improvement in revenues.
Supported by its technological excellence, IBKR has been undertaking several measures to enhance market share. It launched IBKR Lite, which enables investors to trade commission free. The launch of Impact Dashboard, an innovative sustainable investing tool, has made the company the first major brokerage firm to allow investors to easily align their portfolio with their values.
The company has also launched cryptocurrency trading via Paxos Trust Company, charging commissions that are lower compared to other crypto exchanges.
An increase in emerging market customers is expected to continue to support Interactive Brokers’ top-line growth in the near term.
Shares of IBKR have lost 6.2% over the past six months compared with a 15% decline of the industry.
A couple of other top-ranked stocks from the same space are Morgan Stanley (MS - Free Report) and Raymond James (RJF - Free Report) . Both MS and RJF currently carry a Zacks Rank of 2.
The Zacks Consensus Estimate for Morgan Stanley’s current-year earnings has moved up 2.4% over the past 60 days. Shares of MS have gained 0.2% in the past year.
The consensus estimate for Raymond James’ fiscal current-year earnings has increased 6.8% over the past 60 days. Over the past year, the RJF stock has rallied 18.7%.
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Interactive Brokers (IBKR) Unveils App for Global Stock Trading
Interactive Brokers Group, Inc. (IBKR - Free Report) has introduced a mobile application for global stock trading. The firm recently launched IBKR GlobalTrader, which is a simple mobile trading application for investors around the world.
IBKR GlobalTrader has an efficient design. While novice investors will find the app easy to use, experienced stock traders will find it powerful enough.
With IBKR GlobalTrader, investors will be able to open an account in minutes and trade stocks on more than 80 stock exchanges in North America, Europe and Asia. Since the application has been developed specifically for global investors, it will allow them to make deposits in up to 23 currencies.
The deposits will be automatically converted at interbank rates into the currency required to buy and sell stocks across markets and geographies. For investors seeking global diversification but unsure of their options, the IBKR GlobalAnalyst scanner will help them identify the right opportunities.
Steve Sanders, the EVP of marketing and product development at IBKR, stated, “As a growing number of individuals around the world discover the benefits of actively participating in the financial markets, the need for a simple and easy to use stock trading app has never been greater. The IBKR GlobalAnalyst tool helps both beginners and advanced traders find investment opportunities, and then they can use the simple IBKR GlobalTrader app to trade stocks worldwide.”
Steve added, “We view it as a way to attract a new audience that’s used to something simpler. Our other platforms have lots of features, but some people may find them complex.”
With respect to expenses, trading costs with the application are transparent and low. U.S. residents can enjoy zero commissions on U.S. stocks, while commissions start at just $0.0035 per share for foreign investors. For forex transactions, commissions will be 3 basis points times the trade value, with no hidden spreads or markups.
With IBKR GlobalTrader, investors will be able to invest in fractional shares as well. Also, they will be allowed to switch positions in the same dollar amount from one security to another. Further, cryptocurrency trading will be made available for clients of IBG LLC.
Our Take
Interactive Brokers has always been focusing on developing proprietary software to automate broker-dealer functions, which has resulted in a steady improvement in revenues.
Supported by its technological excellence, IBKR has been undertaking several measures to enhance market share. It launched IBKR Lite, which enables investors to trade commission free. The launch of Impact Dashboard, an innovative sustainable investing tool, has made the company the first major brokerage firm to allow investors to easily align their portfolio with their values.
The company has also launched cryptocurrency trading via Paxos Trust Company, charging commissions that are lower compared to other crypto exchanges.
An increase in emerging market customers is expected to continue to support Interactive Brokers’ top-line growth in the near term.
Shares of IBKR have lost 6.2% over the past six months compared with a 15% decline of the industry.
Image Source: Zacks Investment Research
Currently, Interactive Brokers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A couple of other top-ranked stocks from the same space are Morgan Stanley (MS - Free Report) and Raymond James (RJF - Free Report) . Both MS and RJF currently carry a Zacks Rank of 2.
The Zacks Consensus Estimate for Morgan Stanley’s current-year earnings has moved up 2.4% over the past 60 days. Shares of MS have gained 0.2% in the past year.
The consensus estimate for Raymond James’ fiscal current-year earnings has increased 6.8% over the past 60 days. Over the past year, the RJF stock has rallied 18.7%.