E-Brokerage Market Size - By Type of Service, By Platform, By Investor, By Asset Class, By Ownership, Growth Forecast, 2025 - 2034

E-Brokerage Market Size

The global e-brokerage market size was valued at USD 14.1 billion in 2024 and is projected to grow at a CAGR of 9.4% between 2025 and 2034. This growth is driven by increasing retail investor participation, technological advancements in trading platforms, and the growing popularity of low-cost investment solutions.
 

Increased internet and smartphone penetration is significantly driving the growth of the e-brokerage market by enabling broader access to online trading platforms, especially in emerging markets. As mobile connectivity expands, more individuals can engage in self-directed investment through user-friendly apps. For instance, according to Statista, the population share with mobile internet access in the U.S. was forecast to continuously increase between 2024 and 2029 by in total of 2.7%. After the ninth consecutive increasing year, the mobile internet penetration is estimated to reach 92.51% and therefore a new peak in 2029.
 

This digital accessibility empowers retail investors to participate in capital markets, fostering financial inclusion and accelerating the shift from traditional brokerage services to digital, cost-efficient alternatives.
 

The shift toward commission-free trading is significantly fueling the growth of the e-brokerage market by lowering entry barriers for retail investors. By eliminating traditional brokerage fees, platforms like Robinhood, Charles Schwab, and Fidelity have made investing more accessible and appealing, especially to younger, cost-sensitive investors. This pricing strategy has sparked widespread adoption, increased trading volumes, and intensified competition, reshaping the industry toward more inclusive and user-centric financial services.
 

The growing demand for DIY investing and robo-advisory services is propelling the expansion of the E-Brokerage Market. Investors are increasingly seeking cost-effective, autonomous investment solutions that offer control and personalization. Robo-advisors provide algorithm-driven portfolio management, enabling efficient asset allocation without human intervention. This trend appeals particularly to tech-savvy millennials and Gen Z investors, supporting the shift toward digital platforms that combine low fees, automation, and user-friendly interfaces.
 

For instance, in September 2024, Moomoo unveiled a redesigned desktop version to better serve U.S. retail investors. The new platform aims to bridge the gap between institutional and retail investors by providing user-friendly trading experience with access to Level 2 data and zero-commission trading for stocks, ETFs, and equity options.
 

E-Brokerage Market Trends

• Mobile trading apps have become the primary platform for retail investors due to their convenience and user-friendly interfaces. The shift towards mobile allows real-time access to markets, instant trade execution, and personalized notifications, attracting younger investors who prefer trading on-the-go. This trend is driving e-brokerages to continuously improve app functionalities and invest heavily in mobile-first innovations to enhance customer engagement.
   
• Many e-brokerage firms are adopting zero or ultra-low commission structures to attract retail traders and increase trading volumes. This shift challenges traditional brokerage fee models and intensifies competition. Lower costs democratize access to investment opportunities, making trading more accessible to novice investors and fostering market participation globally.
   
• AI-powered tools and robo-advisors are increasingly integrated into brokerage platforms, offering personalized investment recommendations, portfolio management, and automated trading strategies. These technologies enhance user experience by simplifying investment decisions, reducing costs, and enabling 24/7 market monitoring, appealing especially to tech-savvy and passive investors.
   
• E-brokerages are broadening their offerings to include cryptocurrencies, ETFs, fractional shares, and ESG-focused investments. This diversification caters to evolving investor preferences and the growing demand for socially responsible and alternative investment options, helping platforms differentiate themselves and capture new market segments.
   

E-Brokerage Market Analysis

 

Based on platforms, the e-brokerage market is segmented into web-based platforms, mobile-based platforms, and hybrid platforms. In 2024, the mobile-based platforms dominated the market, accounting for around 44% share and is expected to grow at a CAGR of over 9.8% during the forecast period.
 

• Mobile-based platforms hold the highest market share in the e-brokerage market due to their unmatched accessibility, convenience, and real-time trading capabilities. With the global surge in smartphone penetration, especially among younger, tech-savvy investors, mobile platforms have become the preferred medium for managing investments on the go.
   
• These platforms offer user-friendly interfaces, integrated tools for analysis, instant alerts, and seamless transaction capabilities, enhancing the overall trading experience. Moreover, mobile apps support features like biometric login, AI-driven insights, and voice commands, catering to the demand for smart, intuitive services.
   
• The rise of social trading, gamification, and educational content within apps further boosts user engagement. As a result, mobile platforms are now central to e-brokerage firms' strategies, especially in regions with high mobile internet usage such as Asia-Pacific and the Middle East.
   
• For instance, in February 2025, Interactive Brokers introduced MultiSort Screeners to its IBKR Mobile app, significantly enhancing the stock screening capabilities available to traders and investors on mobile devices. This feature allows users to find and sort securities using multiple factors at once, such as fundamental data, past performance, and technical indicators, enabling a more tailored and efficient search process.
   

Based on the investor, the e-brokerage market is segmented into retail investors and institutional investors. In 2024, the retail investors segment dominates the market with 68% of market share, and the segment is expected to grow at a CAGR of over 9.8% from 2025 to 2034.
 

• Retail investors hold the highest market share in the e-brokerage market primarily due to the democratization of trading through digital platforms that make investing accessible and affordable. The rise of zero-commission trading models and easy-to-use mobile apps has significantly lowered entry barriers, attracting a large number of individual investors.
   
• Additionally, growing financial literacy, coupled with increased awareness of investment opportunities in stocks, ETFs, and cryptocurrencies, has encouraged more retail participation. Social media and online communities also play a key role by providing education and real-time market insights, empowering retail investors to make informed decisions.
   
• Furthermore, the flexibility of trading outside traditional market hours and the availability of fractional shares cater specifically to retail investors with smaller capital, reinforcing their dominant presence in the market. This broad base of retail users drives overall market growth and innovation.
   
• For instance, according to Statista, in the financial year 2024, 91.6% unique investors were registered on the National Stock Exchange of India. It was a significant increase from the previous year. That year, new registrations accounted for nearly 19 million.
   

Based on asset class, the e-brokerage market is segmented into equity trading, derivatives trading, forex trading, mutual funds and ETFs, and others. In 2024, the equity trading segment expected to dominate due to its broad appeal among retail and institutional investors.
 

• Equities offer high liquidity, transparency, and the potential for substantial returns, making them attractive for active trading and long-term investment. The ease of accessing global stock exchanges through digital platforms further boosts equity trading volumes.
   
• Additionally, equities are widely covered by financial news and analysis, enhancing investor confidence. The rise of fractional shares and commission-free trading has lowered barriers to entry, attracting younger and first-time investors.
   
• Moreover, equity markets provide diverse sectors and companies, allowing investors to tailor portfolios to various risk profiles and growth strategies. Overall, the combination of accessibility, variety, and growth potential solidifies equity trading as the dominant segment in e-brokerage platforms.
   

In 2024, the U.S. region in North America dominated the e-brokerage market with around 92% market share in North America and generated around USD 5.7 billion in revenue.
 

• The U.S. e-brokerage market is highly mature and competitive, driven by widespread internet penetration, strong financial literacy, and a tech-savvy investor base. The region benefits from robust regulatory frameworks and the high adoption of mobile trading platforms.
   
• There is a strong emphasis on commission-free trading, advanced analytics, and real-time data tools. The rise of retail investing, particularly among younger demographics, has significantly shaped platform development.
   
• Additionally, increased interest in cryptocurrencies, ETFs, and options trading is expanding product offerings, while consolidation and partnerships are enabling platforms to scale and differentiate in a saturated market.
   
• For instance, according to Statista, the projected revenue in the U.S. cryptocurrency market is expected to reach USD 9.4 billion in 2025. The average revenue per user in the U.S. cryptocurrency market is estimated to be USD 97.5 in 2025. The U.S. has seen a surge in institutional investors entering the cryptocurrency market, driving up demand and market prices.
   

The e-brokerage market in UK is expected to experience significant and promising growth from 2025 to 2034.
 

• The UK e-brokerage market is experiencing robust growth driven by increased digital adoption, a rising number of retail investors, and favorable regulatory support under the Financial Conduct Authority (FCA). Mobile trading apps and commission-free models have attracted a younger demographic.
   
• London remains a key fintech hub, fostering innovation and investor confidence. The market also benefits from high financial literacy and a mature capital market infrastructure.
   
• Ongoing trends include the rise of ESG investing, automated advisory services, and growing interest in global and cryptocurrency markets among UK-based retail and institutional investors.
   
• For instance, in October 2024, the London Stock Exchange announced that from January 2025, they are removing fees for retail investors to access real-time market data from the London Stock Exchange, becoming the first major primary exchange to do so. They reported that there are currently 9.7 million people in the UK with investable assets of more than £10,000 held in cash, and of these, there are more than four million people who want to take at least some form of investment risk.
   

The e-brokerage market in the China is expected to experience significant and promising growth from 2025 to 2034.
 

• China's e-brokerage market is experiencing robust growth driven by increasing retail investor participation, digital financial reforms, and the proliferation of mobile trading platforms. Regulatory bodies like the China Securities Regulatory Commission (CSRC) are supporting innovation while tightening oversight to ensure market stability.
   
• Domestic brokerages are enhancing AI-driven investment tools and expanding into wealth management services. Rising internet penetration and fintech integration are enabling greater access to capital markets.
   
• For instance, in May 2025, Interactive Brokers expanded its ETF lineup by adding the Ping An of China CSI HK Dividend ETF to its no-transaction-fee (NTF) program. This move gives investors efficient, cost-effective access to a basket of high-dividend companies listed on the Hong Kong Stock Exchange, further broadening the broker’s global reach.

The e-brokerage market in the UAE is expected to experience significant and promising growth from 2025 to 2034.
 

• The UAE e-brokerage market is witnessing steady growth, driven by increasing internet penetration, a young and tech-savvy population, and government initiatives to digitize financial services. The Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) have fostered a favorable regulatory environment for fintech and e-brokerage platforms.
   
• Rising retail investor participation and growing interest in global stock markets and cryptocurrencies are further propelling market adoption. Additionally, UAE's push toward economic diversification and financial inclusion continues to attract regional and international e-brokerage firms to establish operations in the country.
   
• For instance, in March 2025, Interactive Brokers (IBKR) solidified its presence in the Middle East by opening a new office in the Dubai International Financial Centre (DIFC), marking a significant step in its global expansion strategy. This move is driven by the region’s booming financial services sector and the growing demand for advanced, client-focused brokerage solutions.
   

E-Brokerage Market Share

• Top 7 companies of the e-brokerage industry are Robinhood, Charles Schwab Corporation, Fidelity Investments, Merrill Edge (Bank of America), Ally Invest, Interactive Brokers, and SoFi Invest around 28% of the market in 2024.
   
• Robinhood focuses on a mobile-first, commission-free trading model targeting younger, tech-savvy investors. It expands its offerings to include crypto trading, retirement accounts, and advanced charting tools. The platform invests in user experience and gamified features while enhancing educational resources. Robinhood also pursues international expansion and strategic partnerships to grow its user base and diversify its revenue streams.
   
• Charles Schwab emphasizes a comprehensive platform integrating brokerage, banking, and financial advisory services. Its strategy includes maintaining a low-cost, high-value approach through commission-free trading, robust research tools, and personalized advisory. Schwab continues to integrate the TD Ameritrade acquisition, leveraging synergies and scale. It also focuses on expanding digital capabilities and hybrid advisory models to attract a broader investor demographic, including high-net-worth individuals.
   
• Fidelity leverages its strong brand and diversified portfolio to offer full-service investment solutions with no commissions on online U.S. stock and ETF trades. It invests heavily in technology, AI-driven tools, and personalized customer service. Fidelity targets both retail and institutional clients, emphasizing retirement solutions, sustainable investing, and educational content. It also explores digital assets and private markets to remain competitive and innovative in the e-brokerage space.
   

E-Brokerage Market Companies

Major players operating in the e-brokerage industry are:

• Ally Invest
• Charles Schwab Corporation
• Fidelity Investments
• Groww
• Interactive Brokers
• Merrill Edge (Bank of America)
• Robinhood
• SoFi Invest
• Upstox
• Vanguard

The current market strategy in the e-brokerage market emphasizes platform digitization, low or zero-commission trading, and user-centric mobile applications to attract tech-savvy retail investors. Firms focus on expanding global reach, integrating advanced analytics and AI for personalized investment guidance, and offering fractional share trading and extended trading hours. Additionally, partnerships and acquisitions are used to diversify services and capture niche investor segments, especially in emerging and digital asset markets.
 

Another key strategy in the e-brokerage market involves enhancing customer education and engagement through in-app tutorials, webinars, and real-time market insights. Companies are also investing in cybersecurity and regulatory compliance to build user trust. Many are adopting API-driven ecosystems to integrate third-party tools and expand functionalities. Furthermore, focus is shifting towards ESG investment options and automated portfolio management to appeal to socially conscious and passive investors.
 

E-Brokerage Industry News

• In May 2025, Charles Schwab announced the upcoming launch of the Schwab Advisor ProDirect program in July 2025. This initiative aims to assist financial advisors with client assets between $50 million and $300 million in establishing their own independent Registered Investment Advisor (RIA) firms. The program offers personalized consulting, connections to third-party service providers, discounts on essential services, and ongoing coaching support, addressing an underserved segment in the market.
   
• In May 2025, Robinhood intensified its appeal to active traders and international customers through enhanced trading tools and strategic acquisitions. The company announced new features for options trading, including a historical charting tool and support for multileg strategies on its mobile app. Additionally, Robinhood revealed plans to acquire Canadian digital asset firm WonderFi for approximately C$250 million, aiming to solidify its international footprint.
   
• In May 2024, The Securities and Exchange Board of India (SEBI) issued a circular to improve the ease of doing business for stockbrokers offering Internet-Based Trading (IBT) services. Key changes include reducing the response time for IBT service applications from 30 to 7 days and removing the requirement for brokers to periodically confirm IBT trade statistics before publication. These reforms aim to streamline processes and encourage digital trading adoption.
   
• In May 2025, eToro completed its initial public offering (IPO) and listed its shares on the Nasdaq under the ticker symbol "ETOR". Prior to the IPO, eToro partnered with the Dubai Financial Market, Deutsche Börse for German stocks, and ARK Invest to launch a technology-focused ETF portfolio. These collaborations aim to enhance eToro's global presence and diversify its investment offerings.
   

The e-brokerage market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) from 2021 to 2034, for the following segments:

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Market, By Type of Service

• Full-service brokerage
• Discount brokerage
• Robo-advisors

Market, By Platform

• Web-based platforms
• Mobile-based platforms
• Hybrid platforms

Market, By Investor

• Retail investors
• Institutional investors

Market, By Asset Class

• Equity trading
• Derivatives trading
• Forex trading
• Mutual funds and ETFs
• Others

Market, By Ownership

• Privately held
• Publicly held

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • Saudi Arabia
  • South Africa