Europe E-Brokerage Market Analysis and Strategy Outlook 2026-2031, Featuring Profiles of Key Players eToro, DEGIRO, Saxo Bank, IG Group, Interactive Brokers and More

The rise of zero-commission models and PSD-2 driven account aggregation offers avenues for deeper engagement, while compliance with evolving regulations such as MiFID II and DORA can enhance transparency and trust, ensuring market leadership

Dublin, Jan. 30, 2026 (GLOBE NEWSWIRE) -- The "Europe E-Brokerage - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.

The European e-brokerage market, valued at USD 132.27 billion in 2025, is projected to grow to USD 146.68 billion by 2031, marking a CAGR of 1.74% from 2026 to 2031. This growth highlights the sector's competitive maturity as regulatory costs and pricing pressures reshape revenue models, with technology advances providing new income streams.

Key regulatory changes such as MiFID II amendments, DORA enforcement set for January 2025, and the Payment-for-Order-Flow ban expected in July 2026, are redefining operational standards, enhancing transparency and resilience. As discount platforms drive fee compression, major players focus on scale, profitability, and superior digital experiences to maintain margins. Cross-border activity is boosted by consolidated tape initiatives, harmonizing execution data, and encouraging investment diversification across European venues.

The report categorizes data by Investor Type (retail, institutional), Services Offered (full-service, discount brokers), Operation (domestic, foreign), and Geography (UK, Germany, France, Spain, Italy, BENELUX, NORDICS, Rest of Europe), with forecasts provided in terms of USD value.

PSD-2 Driven Account Aggregation

Second-generation payment rules enable portfolio consolidation across banks, expanding access to integrated wealth dashboards. Over 3,000 licensed third-party providers across the EU now support neobanks merging brokerage into daily banking. The strongest uptake is seen in Dutch and German consumers, with aggregated data enhancing brokers' ability to provide personalized insights. These advancements reduce acquisition costs by 25% on platforms with mature aggregation engines. PSD-2 security standards limit entry for new providers lacking data protection frameworks.

MiFID II and Commission Transparency

The 2024 revisions to MiFIR require detailed cost disclosure, dismantling bundled fee models and promoting platforms with clear, low-fee structures. This shift benefits discount brokers capturing market share from traditional full-service houses. In France, low-fee brokers gained a 15% market share in 2024. Compliance costs, nearing EUR 50 million annually for top brokers, reinforce the benefits of scale for market leaders.

EU Financial-Transaction-Tax Proposal

Proposed taxes on equity and derivatives trades may reduce retail volumes by 15-25%, redirecting liquidity to offshore venues. France's earlier tax implementation saw an 18% turnover reduction, highlighting potential risks. Discount brokers may struggle to absorb these costs, impacting the feasibility of free trading. Cross-border transactions, such as the 34.9% of Nordnet flows, face disruption as investors may seek tax-efficient venues outside the EU. The asset management sector warns of potential reductions in EU GDP due to diminished capital-market efficiency.

Additional Market Drivers and Restraints:

• Zero-Commission Freemium Pricing Models
• Cloud-Native Trading Cores Lowering Entry Barriers
• Heightened Cyber-Resilience Mandates (DORA) Raising Compliance Costs

Segment Analysis

Retail investors constituted 69.62% of the European e-brokerage market in 2025, driven by mobile onboarding, fractional trading, and social-network features. Their growth rate of 8.41% CAGR to 2031 surpasses that of institutional investors, as Gen-Z savers opt for ETF portfolios. Platforms like Trade Republic manage over EUR 100 billion in retail assets, expanding multilingual offerings across Europe. Institutional desks are increasingly utilizing white-label APIs from providers like Saxo Bank, reflecting the significance of digital infrastructure.

Leading brokers utilize community feeds, thematic baskets, and ESG filters to enhance engagement and tailor cross-sell offerings. Trade Republic's profitability milestone in 2023 exemplifies how scaling can balance compressed commissions with matured alternative revenue lines. Institutional traders adopting algorithmic management via Banking-as-a-Service stacks reduce custody costs and comply with MiFID II regulations. The lines between retail and institutional platforms are increasingly blurred, emphasizing the need for regulatory compliance as a foundational industry standard.

Companies Profiled in the Report:

• eToro Ltd.
• DEGIRO / flatexDEGIRO AG
• Saxo Bank A/S
• IG Group Holdings PLC
• Interactive Brokers LLC
• Plus500 Ltd.
• Hargreaves Lansdown PLC
• Trade Republic Bank GmbH
• BUX B.V.
• FinecoBank S.p.A.
• Comdirect Bank AG
• CMC Markets PLC
• Charles Schwab .
• Robinhood Markets Inc.
• Nordnet AB
• Keytrade Bank SA
• Bank inter SA
• Banco Best SA
• Fineco UK Ltd.
• AJ Bell PLC
• Scalable Capital

For more information about this report visit https://www.researchandmarkets.com/r/u7uy5m

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