Interactive Brokers Group sets up office in Budapest
Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) today announced the creation of Interactive Brokers Central Europe Zrt., (IBCE) and the opening of an office in Budapest.
Magyar Nemzeti Bank, Hungary’s Central Bank, approved the brokerage license for Interactive Brokers Central Europe Zrt. on December 12, 2020. Miklos Hanti serves as CEO for IBCE.
With the addition of Hungary, the global brokerage firm now has ten entities around the globe in the US, Australia, Canada, Hong Kong, India, Japan, Luxembourg, Singapore, and the UK.
Over a quarter of Interactive Brokers accounts now come from Europe and Africa. As of November 30th, client accounts worldwide had grown 52% from the prior year, with over 80% of the expansion coming from outside of the United States.
Interactive Brokers offers clients worldwide the ability to invest in stocks, options, futures, currencies, bonds, and funds on 135 markets in 33 countries from a single Integrated Investment Account. The company is well known for providing a wide range of free educational resources to the public.
In addition to four decades of experience with US regulations and approximately two decades with UK regulations, Interactive Brokers has also secured brokerage licenses in Canada, Hong Kong, Japan, Australia, India, Luxembourg, and obtained a license in Singapore this year.
The establishment of Interactive Brokers’ office in Budapest is set to alleviate the concerns linked to Brexit that Interactive Brokers has raised in a recent SEC filing.