Core Viewpoint - Interactive Brokers is demonstrating impressive growth metrics and is positioned to outperform Nvidia in the long term due to its lower valuation and strong business fundamentals [2][3][11] Financial Performance - Interactive Brokers reported a 20% year-over-year increase in net revenue to $1.5 billion and a 24% rise in net income, with a pre-tax profit margin of 75%, up from 72% in the previous year [5] - Key customer metrics showed a 27% increase in commission revenue, a 32% rise in accounts to 3.87 million, a 34% increase in client equity to approximately $665 billion, and a 49% jump in daily average revenue trades (DARTs) to 3.55 million [6] Recent Trends - Monthly metrics for September indicated further strengthening, with DARTs reaching 3.86 million (up 47% year-over-year), client equity at $757.5 billion (up 40% year-over-year), and margin loans rising to $77.3 billion (up 39% year-over-year) [7] Competitive Positioning - Interactive Brokers benefits from scale, automation, and global reach, allowing it to operate as a low-cost provider and gain market share [4] - The company has a price-to-earnings ratio of 37, compared to Nvidia's 53, making it a more attractive investment option [8] Long-term Outlook - Despite Nvidia's strong revenue growth of 56% year-over-year, its cyclical nature and higher valuation present risks that may hinder its long-term performance compared to Interactive Brokers [8][10] - Interactive Brokers' combination of accelerating fundamentals and lower valuation positions it well to potentially widen its lead over Nvidia in the next decade [11]