Broker Revenue Mix: IBKR vs Tiger
Prepared filing extract showing where Interactive Brokers discloses its revenue mix in detail and where Tiger Brokers is only comparable on top-line revenue.
IBKR commission mix (2024)
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Share of disclosed commissions + net interest income
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IBKR net interest share (2024)
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Dominant component within the disclosed mix
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IBKR revenue basis (2024)
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Reported total in 2018–2019, tracked base thereafter
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Tiger total revenue (2024)
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Only comparable revenue field available for Tiger
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Where the two brokers diverge
- IBKR’s mix is observable. The prepared filing extract breaks IBKR into commissions and net interest income, so its revenue model can be tracked through the rate cycle.
- Interest income remains the larger engine. IBKR’s disclosed mix briefly moved close to 50/50 in 2020–2021, then swung back toward net interest income, ending 2024 at roughly a 65/35 interest-to-commission split.
- Tiger’s disclosure is thinner in this dataset. Tiger’s extract exposes total revenue and interest expense, but not the underlying revenue split between commissions and interest income, so the comparison is reliable on scale and growth, not on mix composition.
Coverage note
The CSV contains IBKR reported total revenue only for 2018–2019. For 2020–2024, the dashboard uses a transparent tracked revenue base equal to commissions + net interest income when charting IBKR’s period revenue and mix.
Tiger is shown only on reported total revenue because its prepared SEC JSON did not expose the same detailed revenue split.
IBKR mix = commissions vs net interest
Tiger mix not disclosed here
Growth chart uses a mixed basis note
Ratio table: IBKR mix by period and Tiger total revenue
| Year | IBKR commission mix | IBKR net interest share | IBKR revenue basis | IBKR basis type | Tiger total revenue |
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IBKR percentage columns are normalized within the disclosed components in the CSV (commissions + net interest income). That keeps the mix comparable across all years even though reported IBKR total revenue is blank for 2020–2024 in the prepared dataset.
IBKR revenue mix shift by dollars
Stacked bars trace the two disclosed IBKR revenue lines in the prepared CSV, showing how net interest income expands faster than commissions in the later years.
IBKR mix split within disclosed revenue
These shares are normalized within commissions + net interest income, so the two lines sum to 100% each year and highlight the swing from near-balance back to interest dominance.
Revenue growth comparison
Tiger uses reported total revenue throughout. IBKR uses reported total revenue for 2018–2019 and a tracked revenue base from 2020 onward because the later total revenue field is blank in the prepared CSV.