Brokerage account numbers and new account openings - Research by BrokerChooser

Main takeaways

 

  • US brokers lead the way in terms of total brokerage accounts. There are 9x more brokerage accounts at US brokers than at the other brokers included in the analysis.
  • New account openings dropped by 8% in Q1 2022 compared to the previous quarter and were down by nearly 70% compared to Q1 2021, which was an outstanding quarter due to the meme stock frenzy.
  • In Q1 2022, most brokerage accounts were opened at Charles Schwab-TD Ameritrade and Fidelity (Fidelity's numbers are estimated). In 2021, the highest number of accounts was opened at Robinhood.
  • In Q1 2022, there were roughly 7x more account openings at US brokers than at other brokers included in the study.

BrokerChooser is an independent global retail brokerage comparison service that has so far reviewed more than 100 brokers worldwide, and serves more than 200,000 users per month. Our analyst team is constantly on the lookout for emerging trends in the retail brokerage universe.

In this research, we examined publicly available data on client number trends at retail brokers. Read on to learn what we’ve found.

Table of Contents

  1. Total brokerage accounts, by broker
  2. Total brokerage accounts growth
  3. New broker accounts, by broker
  4. New broker accounts, by quarter
  5. Contact us

To find other analyses in BrokerChooser's data dashboard, visit this page.

Total and new broker accounts
Total number of brokerage accounts

Notes to the chart:

  • Data was collected from brokers’ public reports.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.
  • The Q1 2022 total account data was estimated based on Q4 2021 total account data for brokers that haven't released yet their public report for Q1. Thes brokers include Fidelity, Hargreaves Lansdown, Interactive Investor, Saxo Bank, and Swissquote.

 

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Total accounts at the end of the period (million)

Notes to the chart:

  • Data was collected from brokers’ public reports.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.
  • The Q1 2022 total account data was estimated based on Q4 2021 total account data for brokers that haven't released yet their public report for Q1. Thes brokers include Fidelity, Hargreaves Lansdown, Interactive Investor, Saxo Bank, and Swissquote.

 

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Total and new broker accounts
New brokerage accounts

Notes to the New accounts in Q1 2022, by broker  chart:

  • Data was collected from brokers’ public reports.
  • We calculated gross new accounts where it was possible and net new accounts where gross new account data was not available. Net new accounts include customer churn and the reactivation of customers. Our finding is that the difference between gross and net new accounts is less than 5-10% in most cases.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.
  • The Q1 2022 new account data was estimated based on Q4 2021 new account data for brokers that haven't released yet their public report for Q1. Thes brokers include Fidelity, Hargreaves Lansdown, Interactive Investor, Saxo Bank, and Swissquote.

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Notes to the New accounts in 2021, by broker chart:

  • Data was collected from brokers’ public reports.
  • We calculated gross new accounts where it was possible and net new accounts where gross new account data was not available. Net new accounts include customer churn and the reactivation of customers. Our finding is that the difference between gross and net new accounts is less than 5-10% in most cases.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.

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Notes to the 2022 Q1 / 2021 Q4 change chart:

  • Data was collected from brokers’ public reports.
  • We calculated gross new accounts where it was possible and net new accounts where gross new account data was not available. Net new accounts include customer churn and the reactivation of customers. Our finding is that the difference between gross and net new accounts is less than 5-10% in most cases.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.
  • The Q1 2022 new account data was estimated based on Q4 2021 new account data for brokers that haven't released yet their public report for Q1. Thes brokers include Fidelity, Hargreaves Lansdown, Interactive Investor, Saxo Bank, and Swissquote.

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Notes to the 2021/2020 change chart:

  • Data was collected from brokers’ public reports.
  • We calculated gross new accounts where it was possible and net new accounts where gross new account data was not available. Net new accounts include customer churn and the reactivation of customers. Our finding is that the difference between gross and net new accounts is less than 5-10% in most cases.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.

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Total and new broker accounts
New accounts opened in 2020-2022

Notes to the chart:

  • Data was collected from brokers’ public reports.
  • We calculated gross new accounts where it was possible and net new accounts where gross new account data was not available. Net new accounts include customer churn and the reactivation of customers. Our finding is that the difference between gross and net new accounts is less than 5-10% in most cases.
  • In parentheses next to the broker's name, we highlighted where applicable which region/country the broker mostly targets.
  • The Q1 2022 new account data was estimated based on Q4 2021 new account data for brokers that haven't released yet their public report for Q1. Thes brokers include Fidelity, Hargreaves Lansdown, Interactive Investor, Saxo Bank, and Swissquote.

 

Back to Summary

Total and new broker accounts
Contact us

 If you have any questions about the methodology or dataset, feel free to contact us:

Ádám Nasli, Broker Expert: [email protected]

Author of this article

Ádám Nasli

Author of this article

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Ádám Nasli

Analyst head

Ádám worked in banking and investment, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He's also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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