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Summary of our market study
The market for online trading platforms has grown significantly, with a forecast compound annual growth rate (CAGR) of 4.3% between 2021 and 2028. In just four years, from 2017 to 2021, the number of users of the main trading apps jumped from over one million to over sixteen million.
In France, during the first days of the COVID-19 pandemic, from February 24 to April 3, 2020, the Autorité des marchés financiers (AMF) reported that 150,000 people invested in the stock market for the first time, contributing to the 580,000 active retail investors during this period.
Subsequently, the French online trading market grew rapidly, reflected by players such as Boursedirect, which generated 44.5 million euros in sales in 2020 with 207,000 customer accounts.
Growth of online trading platforms in France
Online trading platforms in France have recorded over one million downloads, which is considerable compared to the 1.4 million individuals who will be trading on the stock market in 2020.
The French trading ecosystem is mainly made up of a young population, attracted by neo-brokers who use the "gamification" of trading and offer low or non-existent brokerage fees. They have made investing more accessible and integrated social networking features that foster community and sharing between users.
More than half of all platform users are under 40.
Despite these figures and the dynamism of the platform offering, studies indicate that over 85% of these traders suffer financial setbacks, with median losses amounting to thousands of euros per customer. However, brokers continue to thrive, making profits from commissions on trades, spreads on quotes and fees on day-to-day positions.
The Autorité des marchés financiers (AMF), the French securities regulator, is increasingly concerned about the risks of misinformation and scams in this sector, as well as practices such as payment for order flow (PFOF), which may not be in the investor's best interest.
Users of platforms headquartered in France benefit from the support of the Fonds de Garantie des Dépôts et des Résolutions (FGDR), which guarantees compensation for deposits and securities within certain limits in the event of the service provider's insolvency.
The online trading platform sector is a dynamic and rapidly evolving market, characterized by a myriad of players offering a variety of financial services ranging from traditional brokerage to complex financial advice.
Some online trading platforms
- eToro: a pioneer that has revolutionized the online trading space by integrating social networking features into investment practices. More than 350,000 users in France
- XTP: robust platform meeting the diverse needs of modern traders.
- Capital.com: designed with accessibility in mind, it caters for traders of all skill levels.
- Boursedirect: market leader
- Robinhood: aims to make financial markets accessible to all
- Bux
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Summary and extracts
1 Market overview
1.1 Definition and scope of study
An online trading platform is software used for trading on the financial markets: opening, closing and managing positions. Online trading platforms are often offered by brokers free of charge, whether for demo accounts or real trading accounts.
The best trading platforms offer a mix of robust functionality, ease of use and low fees. As well as placing orders, trading platforms also allow you to view real-time quotes, live charts, news feeds and other research content. Platforms can also be specifically tailored to particular markets, such as equities, forex or crypto-currencies.
Today's brokers are quite diversified. In addition to order execution, players offer other investment strategies and financial advisory services. A large part of their turnover comes from executing customer buy and sell orders. Commission and fee income is generated by principal transactions. Added to this is interest income from investments and dividends, as well as investment banking income from underwriting and advisory services.
The rapid development of high-frequency trading and the digitization of foreign exchange markets have led to increased competition and democratization of access to the stock market. In France, the main online trading platforms are eToro, XTP and Capital.com. The eToro platform alone symbolizes the growth of these sites: it now boasts over 350,000 users in France.
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the market for online trading platforms | France
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