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Trading platform offers free analysis

October 9, 2018

For the first time, the Greenwich-based trading platform Interactive Brokers Group is making its PortfolioAnalyst tool available to the general public for free, with the software and mobile app allowing people to track and analyze their financial portfolios across different accounts.

Available online at ibkr.com/pa, PortfolioAnalyst is one of several such tools on the market including platforms from Intuit’s Mint, Personal Capital, Quicken and SigFig.

Using Portfolio Analyst, investors can check the performance of their portfolios and compare them to some 200 benchmarks or custom indexes of their own creation; link to bank accounts, credit cards and incentive plans; and drill down to view transactions and holdings by asset class and generate reports.

PortfolioAnalyst does not include the ability to execute trades, which Interactive Brokers offers through a number of platforms ranging from stock markets and mutual funds to gold and even sophisticated hedge funds. On its mainstay stock-trading website, Interactive Brokers charges a base commission of $1 a trade, versus the $4.95 rate offered by Charles Schwab and Fidelity and higher amounts at E-Trade, TD Ameritrade and Vanguard.

Day traders and others had some $143 billion invested on Interactive Brokers’ platform as of September, a 23 percent increase from a year ago, with the company earning $42 million on a net basis in the second quarter and scheduled to release third-quarter results next week.

Interactive Brokers is in the midst of a significant expansion of its Greenwich headquarters at the Pickwick Plaza office complex at the top of Greenwich Ave., listing nearly 50 open jobs there at present. The company has added more than 80 people in the first half of the year to push its global headcount to just over 1,300 people, including in India where it has been adding software programmers as the case in Greenwich.

In Norwalk, FactSet Research is on a similar growth trajectory, with plans to move in just over a year’s time to the former 45 Glover. Ave. headquarters of Xerox from FactSet’s existing offices in the nearby Merritt 7 Corporate Park as it expands its local workforce to more than 1,000 people. FactSet offers a sophisticated portfolio analysis platform for professional investors on a subscription basis, in competition with Bloomberg and Thomson Reuters, which has a Stamford office.

Alex.Soule@scni.com; 203-842-2545; @casoulman

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