Interactive Brokers signed a deal with Folio Investment
To strengthen its position among brokers, IBKR signed a deal to acquire custodian services provider Folio Investments, which is part of Folio Financial, Inc. Recall that in September 2020, this organization was acquired by Goldman Sachs. Terms of the deal, which should close in January 2021 not yet reported. However, it is already known that thanks to this IBKR will receive about 70,000 clients of Folio Investments. Interactive Brokers currently has over 1 million active accounts, up 52% from 2019.
Interactive Brokers' customer balance now stands at $268.7 billion and is expected to grow by nearly 3 billion more after the deal. Compared to 2019, the capital that traders trust this company has grown by 61%.
“Folio Investments' clients will significantly expand their capabilities. Now they have access to US-listed stocks. In our company they will be able to invest in stocks, bonds, currencies, futures and options from a single integrated account, ”said Milan Galik, CEO of Interactive Brokers.
To know all the pros and cons of the broker, as well as customer feedback on its work, read the Interactive Brokers expert review on the Forex-Up portal.