VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Friday, January 9, 2026

Stock Comparison

Interactive Brokers Group, Inc. vs LPL Financial Holdings Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Interactive Brokers Group, Inc.

IBKR · NASDAQ

Market cap (USD)$123.6B
Gross margin (TTM)89%
Operating margin (TTM)82.7%
Net margin (TTM)9.2%
SectorFinancials
IndustryInvestment - Banking & Investment Services
CountryUS
Data as of2026-01-06
Moat score
60/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Interactive Brokers Group, Inc.'s moat claims, evidence, and risks.

View IBKR analysis

LPL Financial Holdings Inc.

LPLA · Nasdaq

Market cap (USD)$29.6B
Gross margin (TTM)24.1%
Operating margin (TTM)9.5%
Net margin (TTM)5.4%
SectorFinancials
IndustryFinancial - Capital Markets
CountryUS
Data as of2025-12-26
Moat score
79/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into LPL Financial Holdings Inc.'s moat claims, evidence, and risks.

View LPLA analysis

Comparison highlights

  • Moat score gap: LPL Financial Holdings Inc. leads (79 / 100 vs 60 / 100 for Interactive Brokers Group, Inc.).
  • Segment focus: Interactive Brokers Group, Inc. has 1 segment (100% in Electronic brokerage); LPL Financial Holdings Inc. has 1 segment (100% in Advisor Platform).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Weak vs Moderate.
  • Moat breadth: Interactive Brokers Group, Inc. has 4 moat types across 4 domains; LPL Financial Holdings Inc. has 6 across 4.

Primary market context

Interactive Brokers Group, Inc.

Electronic brokerage

Market

Multi-asset electronic brokerage, clearing, custody, and financing (self-directed and institutional)

Geography

Global

Customer

Individual investors and institutional clients (e.g., hedge funds, advisors, proprietary trading firms, introducing brokers)

Role

Broker-dealer / clearing broker / platform operator

Revenue share

100%

LPL Financial Holdings Inc.

Advisor Platform

Market

Advisor-mediated wealth management platform (independent broker-dealer + RIA custody/clearing)

Geography

United States

Customer

Financial advisors and financial institutions

Role

Platform / broker-dealer / custodian

Revenue share

100%

Side-by-side metrics

Interactive Brokers Group, Inc.
LPL Financial Holdings Inc.
Ticker / Exchange
IBKR - NASDAQ
LPLA - Nasdaq
Market cap (USD)
$123.6B
$29.6B
Gross margin (TTM)
89%
24.1%
Operating margin (TTM)
82.7%
9.5%
Net margin (TTM)
9.2%
5.4%
Sector
Financials
Financials
Industry
Investment - Banking & Investment Services
Financial - Capital Markets
HQ country
US
US
Primary segment
Electronic brokerage
Advisor Platform
Market structure
Competitive
Oligopoly
Market share
n/a
23%-25% (reported)
HHI estimate
n/a
n/a
Pricing power
Weak
Moderate
Moat score
60 / 100
79 / 100
Moat domains
Supply, Network, Legal, Demand
Supply, Demand, Legal, Network
Last update
2026-01-06
2025-12-26

Moat coverage

Shared moat types

Operational ExcellenceCompliance Advantage

Interactive Brokers Group, Inc. strengths

Interoperability HubData Workflow Lockin

LPL Financial Holdings Inc. strengths

Scale Economies Unit CostSuite BundlingTwo Sided NetworkSwitching Costs General

Segment mix

Interactive Brokers Group, Inc. segments

Full profile >

Electronic brokerage

Competitive

100%

LPL Financial Holdings Inc. segments

Full profile >

Advisor Platform

Oligopoly

100%

Want the full wide moat stocks list?

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.