We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
IBKR vs. BGC: Which Brokerage Tech Stock Has Better Upside Potential?
Read MoreHide Full Article
Key Takeaways
Interactive Brokers' tech-led model drives strong revenue growth and global product expansion.
BGC Group's acquisitions boost its energy, commodities and fintech presence post spin-off.
IBKR's 2025 earnings estimates have risen while those for BGC have been revised down.
Interactive Brokers (IBKR - Free Report) and BGC Group (BGC - Free Report) are two prominent names within the brokerage and financial services sector that offer trade execution, clearing and related services. While both companies leverage advanced technology and electronic trading infrastructure, they serve distinct market niches.
Interactive Brokers’ business model centers on low-cost, technology-driven execution, appealing to professional traders, hedge funds and sophisticated retail investors, whereas BGC Group specializes in brokerage services for fixed income, rates, credit and energy markets, as well as related data, analytics and software solutions.
While both the firms have been benefiting of late from increased investor participation amid highly volatile markets, let us try to find out which of the two brokerage-turned-tech stocks — IBKR or BGC — has a better upside potential now.
The Case for Interactive Brokers
IBKR’s technological superiority remains one of its strongest aspects. The company processes trades in stocks, futures, options and forex on more than 160 exchanges across several countries and currencies. Superior technology usage has kept IBKR’s compensation expenses relative to net revenues below its industry peers. Further, the company has been emphasizing developing proprietary software to automate broker-dealer functions, leading to a steady rise in revenues.
IBKR’s total net revenues witnessed a compound annual growth rate (CAGR) of 21.8% over the last five years (2019-2024), with the upward momentum continuing in the first nine months of 2025. Net revenues are expected to strengthen in the quarters ahead, given the company’s solid Daily Average Revenue Trades number and a robust trading backdrop.
In order to expand its global presence, Interactive Brokers has continuously been undertaking product diversification efforts. In August 2025, it introduced Connections, a new feature designed to help investors discover trading opportunities and evaluate investments. Also, it launched zero-commission U.S. stock trading in Singapore. In July, it launched NISA accounts to help Japanese investors build wealth tax-free. Last year, IBKR introduced Plan d’Epargne en Actions accounts to boost its offerings for its French clients. The launch of IBKR GlobalTrader has enabled investors worldwide to trade stocks through mobile applications.
Moreover, IBKR was one of the first brokers to introduce Overnight Trading on U.S. stocks and ETFs nearly 24 hours a day, five days a week. The launch of Impact Dashboard, an innovative, sustainable investing tool, has made the company the first major brokerage firm to allow investors to align their portfolio with their values easily. The introduction of IBKR Desktop, the next-generation desktop trading application for Windows and Mac, marks a new chapter for innovation.
IBKR uses insignificant debt to finance its operations. While the company was consistent with its dividend payment for a long time, it hiked its quarterly dividend 150% to 25 cents per share in April 2024. In April 2025, it once again announced a dividend hike of 28% and a four-for-one forward split of its common stock to make shares more accessible to investors.
The Case for BGC Group
BGC offers voice/hybrid and fully electronic brokerage services. The company’s proprietary Fenics platform powers its electronic trading operations, enabling faster, more efficient transactions. The platform provides trading solutions, market data and analytics to institutional clients.
Following the 2023 spin-off of its commercial real estate arm, BGC Group has sharpened its focus on its capital markets and fintech operations. This shift toward technology-driven services allows the company to enhance margins and reduce dependence on traditional, labor-intensive models.
At the beginning of October 2025, BGC announced the acquisition of Macro Hive, which will expand its growing agency business. Moreover, the acquisitions of OTC Global Holdings, LP (an energy and commodities brokerage firm) and Sage Energy Partners, LP (an energy and environmental brokerage firm) strengthened BGC’s growth strategy, making Energy, Commodities and Shipping its largest asset class.
Together, these deals are expected to add more than $450 million in annual revenues and cement BGC’s presence in the energy sector. Alongside the 2023 buyouts of ContiCap, Open Energy Group and Trident, BGC Group has bolstered its market share and emerged as a leading global brokerage firm.
BGC Group is well-positioned to capitalize on growing environmental and energy transition trends and will keep benefiting from consistent global demand for oil, the single largest source of energy. As such, the company’s top-line growth is anticipated to be robust. Over the last five years (ended 2024), BGC’s revenues saw a CAGR of 1.5%.
How Do Earnings & Sales Estimates Compare for IBKR & BGC?
The Zacks Consensus Estimate for IBKR’s 2025 and 2026 revenues is pegged at $5.80 billion and $6.12 billion, respectively. The estimates imply year-over-year growth rates of 11.1% and 5.6%, respectively.
The Zacks Consensus Estimate for IBKR’s 2025 earnings is pegged at $2.02, which indicates year-over-year growth of 14.8%. Earnings estimates for 2026 of $2.19 suggest 8.4% growth. Over the past 60 days, estimates for both 2025 and 2026 have been revised upward.
IBKR’s Earnings Estimate Revision
Image Source: Zacks Investment Research
On the contrary, the Zacks Consensus Estimate for BGC’s 2025 and 2026 revenues is pegged at $2.92 billion and $3.25 billion, implying year-over-year growth rates of 29% and 11.4%, respectively.
The consensus estimate for BGC’s 2025 earnings is $1.17, which indicates 18.2% year-over-year growth. For 2026, earnings estimates are pegged at $1.39, which implies a year-over-year rally of 18.8%. Earnings estimates for 2025 have been revised lower and the same for 2026 have been revised only marginally higher over the past 60 days.
BGC’s Earnings Estimate Revision
Image Source: Zacks Investment Research
IBKR & BGC: Price Performance, Valuation & Other Comparisons
So far this year, shares of Interactive Brokers have gained 55.4%, whereas the BGC stock has rallied 2.3%. Hence, in terms of investor sentiments, IBKR has the edge.
Image Source: Zacks Investment Research
Valuation-wise, IBKR is currently trading at a 12-month trailing price-to-book (P/B) of 5.98X. Then again, the BGC stock is currently trading at a P/B TTM of 3.97X. Thus, BGC Group is relatively inexpensive currently compared with Interactive Brokers.
Image Source: Zacks Investment Research
Additionally, BGC Group’s return on equity of 49.83% is way higher than IBKR’s 5.03%. This reflects that BGC uses shareholder funds more efficiently to generate profits than Interactive Brokers.
Image Source: Zacks Investment Research
IBKR or BGC: Which Stock Is a Better Bet?
BGC Group is benefitting from the electronification and institutional automation of wholesale/inter-dealer markets, especially fixed income, credit and rates, as well as the global expansion of such markets. The firm is well-placed to offer robust returns to investors. Also, since it has a more favorable valuation compared with IBKR, BGC seems like an attractive option for the more conservative investors.
However, Interactive Brokers remains a dominant, tech-driven brokerage, favored by professional and institutional investors. Its global reach, low-cost model and powerful trading tools continue to support consistent revenue growth. Its innovation in areas like Forecast Contracts, GlobalTrader and IBKR Desktop is impressive.
Although IBKR has a premium valuation, the company remains well-positioned for growth in the current volatile operating environment, supported by its strong technological capabilities and diversified product offerings. Analysts’ bullish sentiments add another layer of optimism. Thus, for those focused on long-term potential, Interactive Brokers appears to be a better investment option now.
Image: Bigstock
IBKR vs. BGC: Which Brokerage Tech Stock Has Better Upside Potential?
Key Takeaways
Interactive Brokers (IBKR - Free Report) and BGC Group (BGC - Free Report) are two prominent names within the brokerage and financial services sector that offer trade execution, clearing and related services. While both companies leverage advanced technology and electronic trading infrastructure, they serve distinct market niches.
Interactive Brokers’ business model centers on low-cost, technology-driven execution, appealing to professional traders, hedge funds and sophisticated retail investors, whereas BGC Group specializes in brokerage services for fixed income, rates, credit and energy markets, as well as related data, analytics and software solutions.
While both the firms have been benefiting of late from increased investor participation amid highly volatile markets, let us try to find out which of the two brokerage-turned-tech stocks — IBKR or BGC — has a better upside potential now.
The Case for Interactive Brokers
IBKR’s technological superiority remains one of its strongest aspects. The company processes trades in stocks, futures, options and forex on more than 160 exchanges across several countries and currencies. Superior technology usage has kept IBKR’s compensation expenses relative to net revenues below its industry peers. Further, the company has been emphasizing developing proprietary software to automate broker-dealer functions, leading to a steady rise in revenues.
IBKR’s total net revenues witnessed a compound annual growth rate (CAGR) of 21.8% over the last five years (2019-2024), with the upward momentum continuing in the first nine months of 2025. Net revenues are expected to strengthen in the quarters ahead, given the company’s solid Daily Average Revenue Trades number and a robust trading backdrop.
In order to expand its global presence, Interactive Brokers has continuously been undertaking product diversification efforts. In August 2025, it introduced Connections, a new feature designed to help investors discover trading opportunities and evaluate investments. Also, it launched zero-commission U.S. stock trading in Singapore. In July, it launched NISA accounts to help Japanese investors build wealth tax-free. Last year, IBKR introduced Plan d’Epargne en Actions accounts to boost its offerings for its French clients. The launch of IBKR GlobalTrader has enabled investors worldwide to trade stocks through mobile applications.
Moreover, IBKR was one of the first brokers to introduce Overnight Trading on U.S. stocks and ETFs nearly 24 hours a day, five days a week. The launch of Impact Dashboard, an innovative, sustainable investing tool, has made the company the first major brokerage firm to allow investors to align their portfolio with their values easily. The introduction of IBKR Desktop, the next-generation desktop trading application for Windows and Mac, marks a new chapter for innovation.
IBKR uses insignificant debt to finance its operations. While the company was consistent with its dividend payment for a long time, it hiked its quarterly dividend 150% to 25 cents per share in April 2024. In April 2025, it once again announced a dividend hike of 28% and a four-for-one forward split of its common stock to make shares more accessible to investors.
The Case for BGC Group
BGC offers voice/hybrid and fully electronic brokerage services. The company’s proprietary Fenics platform powers its electronic trading operations, enabling faster, more efficient transactions. The platform provides trading solutions, market data and analytics to institutional clients.
Following the 2023 spin-off of its commercial real estate arm, BGC Group has sharpened its focus on its capital markets and fintech operations. This shift toward technology-driven services allows the company to enhance margins and reduce dependence on traditional, labor-intensive models.
At the beginning of October 2025, BGC announced the acquisition of Macro Hive, which will expand its growing agency business. Moreover, the acquisitions of OTC Global Holdings, LP (an energy and commodities brokerage firm) and Sage Energy Partners, LP (an energy and environmental brokerage firm) strengthened BGC’s growth strategy, making Energy, Commodities and Shipping its largest asset class.
Together, these deals are expected to add more than $450 million in annual revenues and cement BGC’s presence in the energy sector. Alongside the 2023 buyouts of ContiCap, Open Energy Group and Trident, BGC Group has bolstered its market share and emerged as a leading global brokerage firm.
BGC Group is well-positioned to capitalize on growing environmental and energy transition trends and will keep benefiting from consistent global demand for oil, the single largest source of energy. As such, the company’s top-line growth is anticipated to be robust. Over the last five years (ended 2024), BGC’s revenues saw a CAGR of 1.5%.
How Do Earnings & Sales Estimates Compare for IBKR & BGC?
The Zacks Consensus Estimate for IBKR’s 2025 and 2026 revenues is pegged at $5.80 billion and $6.12 billion, respectively. The estimates imply year-over-year growth rates of 11.1% and 5.6%, respectively.
The Zacks Consensus Estimate for IBKR’s 2025 earnings is pegged at $2.02, which indicates year-over-year growth of 14.8%. Earnings estimates for 2026 of $2.19 suggest 8.4% growth. Over the past 60 days, estimates for both 2025 and 2026 have been revised upward.
IBKR’s Earnings Estimate Revision
Image Source: Zacks Investment Research
On the contrary, the Zacks Consensus Estimate for BGC’s 2025 and 2026 revenues is pegged at $2.92 billion and $3.25 billion, implying year-over-year growth rates of 29% and 11.4%, respectively.
The consensus estimate for BGC’s 2025 earnings is $1.17, which indicates 18.2% year-over-year growth. For 2026, earnings estimates are pegged at $1.39, which implies a year-over-year rally of 18.8%. Earnings estimates for 2025 have been revised lower and the same for 2026 have been revised only marginally higher over the past 60 days.
BGC’s Earnings Estimate Revision
Image Source: Zacks Investment Research
IBKR & BGC: Price Performance, Valuation & Other Comparisons
So far this year, shares of Interactive Brokers have gained 55.4%, whereas the BGC stock has rallied 2.3%. Hence, in terms of investor sentiments, IBKR has the edge.
Image Source: Zacks Investment Research
Valuation-wise, IBKR is currently trading at a 12-month trailing price-to-book (P/B) of 5.98X. Then again, the BGC stock is currently trading at a P/B TTM of 3.97X. Thus, BGC Group is relatively inexpensive currently compared with Interactive Brokers.
Image Source: Zacks Investment Research
Additionally, BGC Group’s return on equity of 49.83% is way higher than IBKR’s 5.03%. This reflects that BGC uses shareholder funds more efficiently to generate profits than Interactive Brokers.
Image Source: Zacks Investment Research
IBKR or BGC: Which Stock Is a Better Bet?
BGC Group is benefitting from the electronification and institutional automation of wholesale/inter-dealer markets, especially fixed income, credit and rates, as well as the global expansion of such markets. The firm is well-placed to offer robust returns to investors. Also, since it has a more favorable valuation compared with IBKR, BGC seems like an attractive option for the more conservative investors.
However, Interactive Brokers remains a dominant, tech-driven brokerage, favored by professional and institutional investors. Its global reach, low-cost model and powerful trading tools continue to support consistent revenue growth. Its innovation in areas like Forecast Contracts, GlobalTrader and IBKR Desktop is impressive.
Although IBKR has a premium valuation, the company remains well-positioned for growth in the current volatile operating environment, supported by its strong technological capabilities and diversified product offerings. Analysts’ bullish sentiments add another layer of optimism. Thus, for those focused on long-term potential, Interactive Brokers appears to be a better investment option now.
At present, Interactive Brokers sports a Zacks Rank #1 (Strong Buy) and BGC Group carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.