Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Interactive Brokers Group, Inc. (IBKR) Halal?

FAIL

Interactive Brokers Group, Inc. · NASDAQ: IBKR · Financials

The short answer

No — Interactive Brokers Group (IBKR) fails this Shariah stock screen at the business-activity and income gates. IBKR is an automated global electronic broker whose dominant revenue engine is interest-based: FY2025 interest income was $7,782M — about 74.65% of gross revenue — from margin lending (average customer margin loans $69,978M at a 4.62% yield, ≈31% of gross revenue alone) and interest on segregated customer cash balances. The debt ratio passes easily: $13M of short-term borrowings (no long-term borrowings per the Q2 2026 10-Q) is about 0.01% of its ~$146.2B market cap ($85.81, October 1, 2026), well under the ~33% ceiling. But interest income at 74.65% of revenue (about 125% of reported net revenues) is roughly fifteen times the 5% non-compliant income ceiling. Zoya covers IBKR and flags it not Shariah-compliant; no Musaffa stock page or ShariaPortfolio entry surfaced. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: FAIL

Interactive Brokers Group, Inc. (NASDAQ: IBKR) is an automated global electronic broker (Greenwich, Connecticut) — routing and executing trades in stocks, options, futures, forex, bonds, mutual funds, ETFs, precious metals and forecast contracts on 170+ electronic exchanges in 40 countries and 29 currencies, for institutional and individual clients; offerings include IBKR Pro and IBKR Lite (commission-free U.S. stocks/ETFs). Business-screen implication (factual): its dominant revenue engine is interest-based — FY2025 interest income of $7,782M was ~74.65% of gross revenue, from margin lending (average customer margin loans $69,978M at 4.62% yield ≈ $3,233M interest ≈ 31% of gross revenue) and interest on segregated customer cash balances (net $2,930M). Charging interest on margin loans is an interest-based (riba) activity far above any 5% tolerance, and interest income is the core business, not an incidental line. Gate 1 fails. Facts only.

Gate 2 — Debt and cash: PASS

Per IBKR's Q2 2026 10-Q (filed August 6, 2026; SEC CIK 1381197), short-term borrowings were $13M at June 30, 2026 (Dec 31, 2025: $19M), and the filing lists no long-term borrowings. Against a market cap of about $146.2B (Finnhub: $85.81 × ~1.70B economic shares including IBG LLC noncontrolling units, October 1, 2026), debt ÷ market cap is about 0.01% — far below the ~33% ceiling. Cash and cash equivalents of $7,711M are about 5.28% of market cap. The debt gate passes; the screen fails at Gate 1 and Gate 3. Facts only.

Gate 3 — Non-compliant income: FAIL

IBKR's FY2025 10-K (filed February 27, 2026) reports gross interest income of $7,782M against gross revenue of $10,424M (non-interest income $2,642M + interest income $7,782M) — about 74.65% of revenue, roughly fifteen times the 5% non-compliant income ceiling. Against reported total net revenues of $6,205M (after $4,219M interest expense), interest income is about 125.42%. Net interest income was $3,563M, up 13% year over year, driven by higher average customer margin loans and customer credit balances plus stronger securities lending. The income gate fails decisively. Facts only.

Key figures used

Frequently asked questions

What does Interactive Brokers do?

Interactive Brokers Group, Inc. (NASDAQ: IBKR) is an automated global electronic broker headquartered in Greenwich, Connecticut. It custodies and services accounts for hedge funds, ETFs, registered investment advisors, proprietary trading groups, introducing brokers and individual investors, routing and executing trades in stocks, options, futures, forex, bonds, mutual funds, ETFs, precious metals and forecast contracts on more than 170 electronic exchanges in 40 countries and 29 currencies. Retail offerings include IBKR Pro and IBKR Lite (commission-free U.S. stocks/ETFs). It earns interest on customer margin loans, on segregated customer cash balances, from securities borrowing/lending and on bank deposits. IBG, Inc. owns about 26% of IBG LLC; the rest is held by noncontrolling interests. The stock did a 4-for-1 split in June 2025 and joined the S&P 500 in August 2025.

Why does IBKR fail this Shariah stock screen?

IBKR fails at the business-activity gate and the income gate. Its core business is an interest-based brokerage: FY2025 interest income was $7,782M — about 74.65% of gross revenue ($10,424M) — driven by margin lending (average customer margin loans $69,978M at a 4.62% yield ≈ $3,233M of interest ≈ 31% of gross revenue) and interest on segregated customer cash balances (net $2,930M). Charging interest on margin loans is an interest-based (riba) activity far above any 5% tolerance, and interest income is the dominant revenue engine, not a side line. The debt gate passes: only $13M of short-term borrowings (≈0.01% of market cap). This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is IBKR's interest-bearing debt ratio?

Per IBKR's Q2 2026 10-Q (filed August 6, 2026; SEC CIK 1381197), short-term borrowings were $13M at June 30, 2026 (down from $19M at December 31, 2025), and the filing lists no long-term borrowings. Against a market cap of about $146.2B (Finnhub: $85.81, ~1.70B economic shares incl. IBG LLC noncontrolling units, October 1, 2026), debt ÷ market cap is about 0.01% — far below the ~33% ceiling. Cash and cash equivalents of $7,711M are about 5.28% of market cap. The debt gate passes; the screen fails at Gate 1 and Gate 3. Note: securities loaned ($45,410M) are secured financing, not counted in this debt definition.

What is IBKR's non-compliant income ratio?

IBKR's FY2025 10-K (filed February 27, 2026) reports gross interest income of $7,782M against gross revenue of $10,424M (non-interest income $2,642M + interest income $7,782M) — about 74.65% of revenue, roughly fifteen times the 5% non-compliant income ceiling. Against the reported total net revenues of $6,205M (after $4,219M of interest expense), interest income is about 125.42%. Net interest income was $3,563M, up 13% year over year, driven by higher average customer margin loans and customer credit balances plus stronger securities lending. The income gate fails decisively. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover IBKR?

Zoya covers IBKR — its public page flags IBKR as not Shariah-compliant (though the page's auto-generated FAQ text contains contradictory/garbled template passages, so the flag is reported with that caveat; Zoya cites revenue $10,232M and interest income $4,173M ≈ 40.78% on its own definitions). No Musaffa stock page for IBKR surfaced in search; Musaffa results only covered its managed portfolios and academy articles. ShariaPortfolio: no IBKR entry found. Third-party coverage is honestly reported as-is, not invented. This page applies the screen directly from IBKR's own SEC filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).