TD vs Interactive Brokers
TD and Interactive Brokers are compared on this page, examining their business models, financial performance, and market context. The discussion provides neutral, accessible analysis of client services, trading platforms, and strategic approaches, without making claims or predictions. Educational content, not financial advice.
TD and Interactive Brokers are compared on this page, examining their business models, financial performance, and market context. The discussion provides neutral, accessible analysis of client service...
Why It's Moving
TD Bank Secures Green Light for $7 Billion Share Buyback, Signaling Strong Capital Confidence
- Fresh $7B buyback approval allows repurchases through January 2027 or until limits hit, following completion of previous $8B program at $99.74 average price per share.
- Automatic share purchase plan with TD Securities to handle buys during blackout periods, ensuring flexible execution.
- Concurrent redemption of $1.25B 4.859% NVCC medium-term notes due 2031, optimizing capital structure without market disruption.
Interactive Brokers Surges to Record Highs on Q4 Earnings Beat and Trading Boom.
- Commissions revenue leaped 37% to $477 million, driven by 65% surge in stock trading and 32% in high-margin options, signaling robust market participation.
- Client equity hit $779.9 billion (up 37% YoY) and margin loans reached $90.2 billion, boosting interest income and underscoring deeper capital commitment from traders.
- Analysts at BMO and Barclays hiked price targets post-earnings, citing solid pretax beats, confident management tone, and constructive 2026 market outlook for brokers.
TD Bank Secures Green Light for $7 Billion Share Buyback, Signaling Strong Capital Confidence
- Fresh $7B buyback approval allows repurchases through January 2027 or until limits hit, following completion of previous $8B program at $99.74 average price per share.
- Automatic share purchase plan with TD Securities to handle buys during blackout periods, ensuring flexible execution.
- Concurrent redemption of $1.25B 4.859% NVCC medium-term notes due 2031, optimizing capital structure without market disruption.
Interactive Brokers Surges to Record Highs on Q4 Earnings Beat and Trading Boom.
- Commissions revenue leaped 37% to $477 million, driven by 65% surge in stock trading and 32% in high-margin options, signaling robust market participation.
- Client equity hit $779.9 billion (up 37% YoY) and margin loans reached $90.2 billion, boosting interest income and underscoring deeper capital commitment from traders.
- Analysts at BMO and Barclays hiked price targets post-earnings, citing solid pretax beats, confident management tone, and constructive 2026 market outlook for brokers.
Investment Analysis
TD
TD
Pros
- Toronto-Dominion Bank benefits from a diversified business mix across retail, commercial, and wealth management in both Canada and the United States.
- The bank offers a stable and relatively high dividend yield, supported by consistent profitability and a long history of shareholder returns.
- TD has a strong capital position and liquidity profile, with a well-managed balance sheet and low dependence on volatile wholesale funding.
Considerations
- Regulatory scrutiny and potential penalties related to anti-money-laundering issues could lead to higher compliance costs and operational disruptions.
- Growth prospects in core markets appear modest, with loan growth and net interest income expected to rise only modestly in the near term.
- Valuation multiples such as P/E and price/book are broadly in line with peers, offering limited relative upside based on current consensus estimates.
Pros
- Interactive Brokers is a global leader in electronic brokerage, with a scalable, low-cost platform that attracts both retail and institutional clients.
- The company has demonstrated consistent growth in client accounts and assets, supported by competitive pricing and advanced trading technology.
- Interactive Brokers maintains a strong balance sheet with high levels of regulatory capital and low leverage, enhancing financial resilience.
Considerations
- Revenue is highly sensitive to interest rates and trading volumes, exposing earnings to cyclical market conditions and potential volatility.
- Intense competition from both traditional brokers and newer fintech entrants may pressure margins and client acquisition costs.
- Regulatory requirements in multiple jurisdictions increase operational complexity and compliance risks, particularly as the firm expands globally.
Related Market Insights
Banking On Shareholder Returns: The Capital Return Revolution
Discover how major banks like BofA, Citi, and USB are boosting shareholder returns via buybacks & dividends. Invest in this capital return revolution with Nemo.
Aimee Silverwood | Financial Analyst
July 24, 2025
Related Market Insights
Banking On Shareholder Returns: The Capital Return Revolution
Discover how major banks like BofA, Citi, and USB are boosting shareholder returns via buybacks & dividends. Invest in this capital return revolution with Nemo.
Aimee Silverwood | Financial Analyst
July 24, 2025
TD (TD) Next Earnings Date
Toronto-Dominion Bank's next earnings date is expected on Thursday, February 26, 2026, prior to market open. This release will cover the Q1 2026 fiscal quarter, following the pattern of late-February reporting observed in prior years. Investor focus will center on revenue and EPS estimates around C$13.87 billion and C$1.95, respectively.
Interactive Brokers (IBKR) Next Earnings Date
Interactive Brokers (IBKR) is scheduled to report its Q4 2025 earnings on Tuesday, January 20, 2026, at approximately 4:00 pm ET. This covers the quarter ended December 31, 2025, with a conference call to follow at 4:30 pm ET. The next earnings after that, for Q1 2026, are estimated in mid-April 2026 based on historical patterns.
TD (TD) Next Earnings Date
Toronto-Dominion Bank's next earnings date is expected on Thursday, February 26, 2026, prior to market open. This release will cover the Q1 2026 fiscal quarter, following the pattern of late-February reporting observed in prior years. Investor focus will center on revenue and EPS estimates around C$13.87 billion and C$1.95, respectively.
Interactive Brokers (IBKR) Next Earnings Date
Interactive Brokers (IBKR) is scheduled to report its Q4 2025 earnings on Tuesday, January 20, 2026, at approximately 4:00 pm ET. This covers the quarter ended December 31, 2025, with a conference call to follow at 4:30 pm ET. The next earnings after that, for Q1 2026, are estimated in mid-April 2026 based on historical patterns.
Which Baskets Do They Appear In?
Banking On Shareholder Returns
Bank of America's new $40 billion stock buyback program highlights a broader trend of major financial institutions returning capital to shareholders. This theme identifies other large banks that may follow suit, offering similar buyback or dividend-based value.
Published: July 24, 2025
Explore BasketWhich Baskets Do They Appear In?
Banking On Shareholder Returns
Bank of America's new $40 billion stock buyback program highlights a broader trend of major financial institutions returning capital to shareholders. This theme identifies other large banks that may follow suit, offering similar buyback or dividend-based value.
Published: July 24, 2025
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