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Global Market Insights (GMI) estimates the global e-brokerage market was worth $14.1 billion in 2024 and forecasts it will reach $34.6 billion in 2034, a projected compound annual growth rate (CAGR) of 9.4% for 2025–2034. The figures describe GMI’s estimate and forecast—not a measured future result. Recent trading and account figures from Charles Schwab and Robinhood show rising activity at those firms, but do not establish that retail trading caused the forecast or that brokerage stocks are attractive investments.
How big is the e-brokerage market?
GMI’s May 2025 market page puts the global e-brokerage market at an estimated $14.1 billion in 2024 and projects $34.6 billion in 2034. Its forecast implies a 9.4% CAGR from 2025 through 2034. GMI identifies 2024 as the base year. These are the publisher’s market estimate and forecast; the public page does not provide enough of the paid report’s underlying tables to reproduce or independently verify the market model. Global Market Insights market forecast
GMI also estimates that retail investors represented 68% of the market in 2024, while mobile-based platforms represented around 44%. These are separate market dimensions: one describes investor type and the other platform type, so the percentages should not be added together. GMI forecasts a CAGR of 9.8% or more for both the retail-investor and mobile-platform segments for 2025–2034. Global Market Insights market forecast
Research and Markets describes the GMI study as a 180-page global report published in May 2025 with a 2024–2034 forecast. That catalogue description does not substitute for the report’s full methodology or calculations. Research and Markets report catalogue
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What counts as e-brokerage?
GMI’s market definition spans several overlapping categories rather than a single type of app or account. It segments the market by service model, platform, investor, asset class, and ownership. That breadth matters: a full-service broker, a discount trading app, and a robo-advisor can all fall within the same market estimate while offering quite different services.
- Service model: full-service brokerage, discount brokerage, or robo-advisory services.
- Platform: web-based, mobile-based, or hybrid access.
- Investor: retail or institutional.
- Asset class: equities, derivatives, foreign exchange, mutual funds and ETFs, and other assets.
- Ownership: private or public companies.
GMI lists providers such as Charles Schwab, E*TRADE, Fidelity, Robinhood, Interactive Brokers, Vanguard, Webull, and others. Its provider list is not a performance ranking, and it does not mean each firm serves every country or competes for the same customers. Global Market Insights market forecast
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What recent company figures show—and what they do not
Issuer-reported figures provide examples of activity at individual platforms, not a market-wide count. Their periods and units differ, so they should not be treated as directly comparable.
| Company and period | Reported figure | What it measures |
|---|---|---|
| Charles Schwab, Q2 2026 | 11.9 million daily average trades; up 57% from Q2 2025 | Trading activity at Schwab; the company described the figure as a record. Schwab Q2 2026 release |
| Charles Schwab, Q2 2026 | 1.4 million new brokerage account openings; 48.0 million total client accounts | Account openings during the quarter and total client accounts, respectively. Schwab Q2 2026 release |
| Robinhood, August 2026 | $335.4 billion in equity notional trading volume; up 68% year over year | Dollar value of equity trades reported by the company for August. Robinhood August 2026 operating data |
| Robinhood, August 2026 | 292.5 million options contracts traded; up 50% year over year | Options contracts, a count rather than dollar trading volume. Robinhood August 2026 operating data |
| Robinhood, August 2026 | 28.6 million funded customers; $383.7 billion in total platform assets, up 26% year over year | Customer count and assets held on the platform, not trading volume. Robinhood August 2026 operating data |
| Robinhood, August 2026 | $17.5 billion in crypto notional volume, down 38% year over year | Crypto trading volume; its decline shows that activity did not rise uniformly across products. Robinhood August 2026 operating data |
Schwab’s CEO Rick Wurster said the company saw record daily average trades in Q2 2026, alongside other business metrics. That statement is a company executive’s account of Schwab’s results, not an independent assessment of the brokerage sector. Schwab Q2 2026 release
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The figures support the narrower conclusion that activity and platform assets were substantial or rising at these named firms during their reported periods. They do not prove that retail trading is rising everywhere, quantify its effect on GMI’s forecast, or show whether any company’s shares are a good investment.
What GMI says may drive growth
GMI points to wider internet and smartphone access, retail participation, demand for self-directed investing and robo-advice, low- or zero-commission offerings, and improvements to digital platforms. It also cites features such as ETFs, fractional shares, crypto, AI-enabled tools, and mobile capabilities. These are trends identified by the market publisher, not proof that every broker offers those products or that they are available in every country. Global Market Insights market forecast
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The forecast should be read as a market-research projection, not a guarantee. GMI’s public discussion flags intense competition, pressure on margins, cybersecurity, and data privacy as challenges. Access to more digital tools may expand the market, while competition and the costs of operating secure platforms can constrain providers. The public material does not quantify the separate effect of these factors on the forecast.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the market forecast means for investors and customers
A larger projected market does not automatically mean that every brokerage will grow at the same rate or become more profitable. Providers differ in geography, products, service model, costs, and target users. GMI’s market estimate aggregates a broad set of those activities; it is not a company-level earnings forecast or an investment recommendation.
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For someone choosing a platform, market growth is less useful than checking whether an account fits their needs. Compare:
- Access and service model: whether you need self-directed tools, human support, or automated portfolio management, and whether the provider is available where you live.
- Products and costs: which investments are supported and what charges or other costs apply to the services you plan to use.
- Tools: the research, education, and account features you will actually use.
- Safeguards: the provider’s regulatory arrangements, account protections, privacy practices, and security measures in your jurisdiction.
These comparison points do not establish a best broker; the sources behind the market forecast do not provide a basis for ranking providers or recommending an account.
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