IBKR · 10-K filed 27 Feb 2026 · year to 31 Dec 2025

Interactive Brokers Group

27 named things its latest annual report says its results depend on, each in the company's own words. 13 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Partners and platforms

Paxos Trust Company

depends onnamed as a risk

Customers of Interactive Brokers LLC, including both individuals and advisors, can trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and more2 through Paxos Trust Company or Zero Hash LLC, which execute, clear and custody the cryptocurrencies, alongside other asset classes on a single unified platform.Business (Item 1)

Zero Hash LLC

depends onnamed as a risk

OCC (Options Clearing Corporation)

depends onnamed as a risk

We are a clearing member of OCC (formerly known as the Options Clearing Corporation), The Depository Trust and Clearing Corporation, the Chicago Mercantile Exchange Clearing House, ICE Clear U.S., CBOE Clear U.S. and Nodal Clear.Business (Item 1)

Clearing houses (mutualized default risk)

named as a risk

A large clearing member default could result in a substantial cost to us if we are required to pay such assessments.Risk factors (Item 1A)

Other companies

Margin loans to customers

insures or lends to · $90.5 billion in margin loansnamed as a risk

As of December 31, 2025, we had $90.5 billion in margin loans extended to our customers.Market risk (Item 7A)

Thomas Peterffy

approximately 73.7% of the combined voting powernamed as a risk

Mr. Thomas Peterffy, our founder and Chairman, and his affiliates beneficially own approximately 91.6% of the economic interests and all of the voting interests in Holdings, which owns all of our Class B common stock, representing approximately 73.7% of the combined voting power of all classes of our voting stock.Risk factors (Item 1A)

Places

International operations (outside U.S.)

earns from · approximately 30% of our net revenuesnamed as a risk

During 2025, approximately 30% of our net revenues were generated by our operating subsidiaries outside the U.S.Risk factors (Item 1A)

Also named by APG, AXP, CARR, COP, COST, DD, ECL, EQIX and 14 more

Commodities and inputs

U.S. dollar interest rates

exposed to its price · $77 million on an annualized basisnamed as a risk

Based on customer balances and investments outstanding as of December 31, 2025, and assuming reinvestment of maturing instruments in instruments of short-term duration, a decrease in U.S. dollar interest rates of 0.25% would decrease our net interest income by $77 million on an annualized basis, assuming the full effect of reinvestment at lower rates.Market risk (Item 7A)

GLOBAL currency basket (non-U.S. dollar currencies)

exposed to its price · approximately 25% of our equitynamed as a risk

As of December 31, 2025, approximately 25% of our equity was denominated in currencies other than the U.S. dollar.Market risk (Item 7A)

Euro

exposed to its price · 11.0%

We define the GLOBAL as consisting of fractions of a U.S. dollar, Euro, Japanese yen, British pound, Swiss franc, Chinese renminbi, Indian rupee, Canadian dollar, Australian dollar and Hong Kong dollar.Business (Item 1)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Regulators

Central Bank of Ireland (CBI)

subject to · $403

Interactive Brokers Ireland Limited (“IBIE”) is subject to the Central Bank of Ireland (“CBI”) financial resources requirement; IBKR Financial Services AG (“IBKRFS”) is subject to the Swiss Financial Market Supervisory Authority (“FINMA”) eligible equity requirement; Interactive Brokers (India) Private Limited (“IBI”) is subject to the National Stock Exchange of India net capital requirements; Interactive Brokers Hong Kong Limited (“IBHK”) is subject to the Hong Kong Securities and Futures Commission (“SFC”) financial resource requirement; Interactive Brokers Securities Japan, Inc. (“IBSJ”) is subject to the Japanese Financial Services Agency (“FSA”) capital requirements; Interactive Brokers Singapore Pte. Ltd. (“IBSG”) is subject to the Monetary Authority of Singapore (“MAS”) capital requirements; and Interactive Brokers Australia Pty Limited (“IBA”) is subject to the Australian Securities Exchange (“ASX”) liquid capital requirement.Business (Item 1)

Also named by BEN, BX, KKR, MRSH, STT, TRV, XYZ

Hong Kong Securities and Futures Commission (SFC)

subject to · $547

Interactive Brokers Hong Kong Limited (“IBHK”) is subject to the Hong Kong Securities and Futures Commission (“SFC”) financial resource requirement; Interactive Brokers Securities Japan, Inc. (“IBSJ”) is subject to the Japanese Financial Services Agency (“FSA”) capital requirements; Interactive Brokers Singapore Pte. Ltd. (“IBSG”) is subject to the Monetary Authority of Singapore (“MAS”) capital requirements; and Interactive Brokers Australia Pty Limited (“IBA”) is subject to the Australian Securities Exchange (“ASX”) liquid capital requirement.Business (Item 1)

Also named by EVR

U.S. Securities and Exchange Commission (SEC)

subject tonamed as a risk

To conduct customer activities, IB LLC is obligated under rules mandated by its primary regulators, the SEC and the CFTC, to segregate cash or qualified securities belonging to customers.Business (Item 1)

Also named by AB, ADSK, AMG, AMP, ARCC, ARES, BAM, BCSF and 44 more

Commodity Futures Trading Commission (CFTC)

subject tonamed as a risk

Additionally, IB LLC is subject to the Commodity Exchange Act and rules promulgated by the CFTC and the various commodity exchanges of which it is a member.Business (Item 1)

Also named by AB, ADM, AGNC, AMG, BAC, BGC, BMNR, C and 35 more

Financial Industry Regulatory Authority (FINRA)

subject tonamed as a risk

We are also subject to the requirements of various self-regulatory organizations such as the Financial Industry Regulatory Authority (“FINRA”), the Chicago Mercantile Exchange (“CME”) and the National Futures Association (“NFA”).Business (Item 1)

Also named by AB, ADP, AGNC, AMG, AMP, BAM, BEN, BR and 23 more

UK Financial Conduct Authority (FCA)

subject tonamed as a risk

Interactive Brokers Canada, Inc., Interactive Brokers (U.K.) Limited, Interactive Brokers Ireland Limited, IBKR Financial Services AG, Interactive Brokers Hong Kong Limited, and Interactive Brokers Singapore Pte. Ltd. are subject to similar change in control regulations promulgated by the CIRO in Canada, the FCA in the United Kingdom, the CBI in Ireland, the FINMA in Switzerland, the SFC in Hong Kong, and the MAS in Singapore, respectively.Risk factors (Item 1A)

Also named by CG, CME, EVR, HIG, HOOD, IP, KKR, RITM and 1 more

State gaming regulators

subject tonamed as a risk

In addition, there is heightened scrutiny of certain types of contracts (including contracts relating to sports and elections), and there is a risk of litigation and law enforcement activity from state gaming and regulatory authorities, as well as litigation from a range of other plaintiffs.Risk factors (Item 1A)

Laws and programs

Uniform Net Capital Rule (SEC Rule 15c3-1)

subject to · $1,785named as a risk

IB LLC is subject to the Uniform Net Capital Rule (Rule 15c3-1) under the Exchange Act and to the CFTC’s minimum financial requirements (Regulation 1.17) under the Commodities Exchange Act.Business (Item 1)

Also named by SCHW

FINRA Rule 1017

subject to · 25% or more of the firm’s equitynamed as a risk

As a result of these regulations, our future efforts to sell shares or raise additional capital may be delayed or prohibited by FINRA.Business (Item 1)

Also named by LPLA

Tax Receivable Agreement with IBG Holdings LLC

85% of these tax savingsnamed as a risk

We have agreed to pay 85% of these tax savings, if any, to Holdings as they are realized as additional consideration for the IBG LLC interests that we acquire, with the balance retained by us.Risk factors (Item 1A)

OECD Pillar Two Framework

subject to · minimum effective tax rate of 15%named as a risk

For example, a number of jurisdictions, including the European Union countries, have enacted the Pillar Two Framework established by the Organization for Economic Cooperation and Development (“OECD”), which generally imposes a minimum effective tax rate of 15% in each such jurisdiction.Risk factors (Item 1A)

Insured Bank Deposit Sweep Program (FDIC)

depends on · up to $5,000,000

Our Insured Bank Deposit Sweep Program provides eligible customers with up to $5,000,000 of Federal Deposit Insurance Corporation (“FDIC”) insurance on their eligible cash balances ($10,000,000 for joint accounts) in addition to the existing $250,000 Securities Investor Protection Corporation (“SIPC”) coverage for total coverage of $5,250,000 ($10,250,000 for joint accounts).Business (Item 1)

EU General Data Protection Regulation (GDPR)

subject tonamed as a risk

In the U.S., we are subject to rules including but not limited to the Gramm-Leach-Bliley Act of 1999; internationally, we are subject to applicable data privacy laws and regulations including but not limited to, the EU General Data Protection Regulation (“GDPR”), the U.K. GDPR, and the Personal Information Protection Law of the People’s Republic of China.Risk factors (Item 1A)

Also named by ACN, ADSK, AIG, ALK, AMG, ANET, APG, AXON and 61 more

USA Patriot Act

subject tonamed as a risk

Significant criminal and civil penalties can be imposed for violations of the USA Patriot Act, and significant fines and regulatory penalties can also be imposed for violations of other governmental and self-regulatory organization AML rules.Business (Item 1)

Also named by WFC

ForecastEx LLC prediction markets

subject tonamed as a risk

The outcome of currently ongoing and potential future regulatory matters, enforcement actions and litigation, as well as new laws or regulations, changes in the interpretation of existing laws or regulations, or more rigorous enforcement in this space could prevent ForecastEx from listing, and our broker-dealer subsidiaries from offering, some or all types of Forecast Contracts in the future, including in jurisdictions outside of the U.S.Risk factors (Item 1A)

Cryptocurrency regulation

subject tonamed as a risk

Future regulatory developments, including the treatment of certain cryptocurrency assets for U.S. federal income tax and foreign tax purposes, could have an adverse effect on our cryptocurrency offering through CSPs and on our business.Risk factors (Item 1A)

Regulation T (Federal Reserve)

subject to

Our account level margin requirements meet or exceed those required by Regulation T of the Board of Governors of the Federal Reserve and FINRA portfolio margin rules, as applicable.Market risk (Item 7A)

Also named by SF