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Trading platforms enjoy record growth of customers in 2020

Wednesday, February 03, 2021
Opalesque Industry Update - Data researched by shows that the world's biggest trading platforms enjoyed record growth in 2020.

Social trading firm eToro added the highest number with 5 million new users in 2020, a 38.46% increase from 2019. Robinhood enrolled 3 million new users in H1 2020 alone, a growth of 30% from 2019 users.

Elsewhere, Plus500 added 1.05 million users while grew 3,600% to hit 766,703 users in 2020.

Interactive Brokers users grew by 56% to 1.07 million users, an additional 385,200 new customers in 2020. Freetrade, which had 65,000 users in 2019, increased the number by 235,000, a growth of 361% in 2020. Finally, IG registered a growth of 34% to hit 239,600 users in 2020.

Key factors inspiring user growth

A combination of factors have contributed to the growth of trading platforms users including stock market volatility, increased spare time during COVID lockdowns, cryptocurrency trading, and a surge in demand for commission-free trading.

Trading platforms are also expected to witness a continuous unprecedented growth this year in the wake of the WallStreeBets Saga.

According to, between the week of January 24 and January 30, searches for 'Stock trading apps' increased ten-fold in the United States.

Despite the contention surrounding Robinhood and the halting of GameStop stock trading, Robinhood recorded 3 million new app downloads in January alone (a 23% increase in its client base).

The report highlights the future prospects for trading platforms after a tremendous 2020.

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