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Spotlight

US Digital Stock Trading

How Digital Brokerages Can Offset Slowing New User Growth

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About This Report
US digital brokerages’ new user growth ticked up from 2019 to 2021. But growth will nosedive in 2022 and 2023, forcing digital brokerages to find new revenue growth strategies.
Table of Contents

Executive Summary

In the face of plummeting new user growth in 2022 and 2023, US digital brokerages will need to rapidly roll out new strategies to overcome a drop in revenues from trading fees.

Key Question: What strategies can US digital brokerages employ to combat slowing growth rates and drive revenues?

KEY STAT: New digital brokerage user growth will plummet by 6.2 percentage points in 2022, down to 1.7%. Growth will flatline in 2023 as retail investors shift away from equity trading.

authors

Michael Tattersall

Contributors

Eleni Digalaki
Principal Analyst
Wendy Louie-Lam
Daniel Ramirez
Researcher, Financial Services

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