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The Largest Online Brokers by AUM (2024)

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Fact checked by
Franklin Silva
Updated
May 21, 2024

Brokerage firms have been in existence for several decades and have evolved to provide a wide range of services to their clients. At a high level, each broker may operate differently, for example, focusing on a specific asset class, market segment (retail or institutional), or geography. Furthermore, due to the vast number of platforms available today, determining the best online broker can be difficult.

Certain key metrics, such as Assets Under Management (AUM), number of customers, customer ratings, number of regulators, and others, are applicable to almost any brokerage or asset management firm, and can help you have a clearer picture of the security or reputation of the firm.

Here’s the list of the biggest brokers in the world by Assets Under Management (AUM):

Largest Brokerage Firms by AUM in 2024

Note: All currency conversions from EUR, GBP, CHF, and DKK to USD were calculated using the last day of the “Date Reported” from BCE, Bank of England Database, Swiss National Bank and Danmarks Nationalbank, respectively.

With over $13.7 trillion in assets under management, Fidelity is the largest online broker worldwide. In second place, Charles Schwab AUM stands at $9.12 trillion. A large portion of those assets is related to investments in their mutual funds, and the majority of their investors are clients of other brokerage firms who invest in these funds.

In terms of users, Fidelity has over 50 million users. Interestingly, eToro, which has a lower AUM of nearly $10 billion, has over 35 million users. This can be attributed to the international expansion eToro has done over the years and its social trading features.

List of the Largest Brokerage Firms

Fidelity

  • AUM: 13.7T USD
  • Number of clients: 50M+
  • Reporting date: March 2024

Fidelity, the largest brokerage firm in the US, has $13.7 trillion in assets under administration and over 50 million individual clients as of March 2024. The firm is known for its low costs, great trade executions, excellent research and asset screeners, extensive educational content, and top-notch portfolio analysis tools and calculators. Fidelity invests in its systems and online trading platforms, offering an enhanced investor dashboard and customizable indexes for a personalized experience for its users.

Charles Schwab

  • AUM: 9.2T USD
  • Number of clients: 35M+
  • Reporting date: March 2024

Schwab’s acquisition of its rival TD Ameritrade in 2019 reinforced its position as one of the leaders in the industry. Schwab offers an attractive list of ETFs and mutual funds, and TD Ameritrade is an excellent choice for those looking to trade at a low cost.

If you’re looking to know how much Charles Schwab manages and how many users trust the brokerage with their investments, the answer is $9.2 trillion (Charles Schwab AUM), and over 35 million clients use its platforms.

Vanguard

  • AUM: 8.2T USD
  • Number of clients: 50M+
  • Reporting date: July 2023

Vanguard was founded in 1975 and is known for its low-cost approach to investing by offering a wide range of investment products and services, including mutual funds, exchange-traded funds (ETFs), individual retirement accounts (IRAs), and brokerage services. 

Are you looking to know how much Vanguard manages and how many users rely on it?

Well, as of July 2023, Vanguard reported a massive client base of over 50 million clients and its assets under management surpassed $8 trillion.

JP Morgan

  • AUM: 3.6T USD
  • Number of clients: Not disclosed
  • Reporting date: March 2024

Although JP Morgan does not offer features or tools similar to other industry leaders like Charles Schwab, TD Ameritrade, Fidelity and E*TRADE, however, they are one of the top brokers in terms of AUM.

As of March 2024, JP Morgan’s AUM was estimated at $3.6 trillion, however, the number of clients of JP Morgan is not publicly disclosed. , but the broker is a well-respected player in the finance industry.

E*TRADE (Morgan Stanley)

  • AUM: 1.5T USD
  • Number of clients: Not disclosed
  • Reporting date: March 2024

Morgan Stanley’s acquisition of E*TRADE has positioned the company as an industry leader in brokerage and wealth management. As such, what is the amount of assets under management held by E*TRADE and Morgan Stanley?

According to the latest quarterly filing (March 2024), Morgan Stanley’s AUM stood at $1.5 trillion, but the number of clients for either E*TRADE or Morgan Stanley is not publicly disclosed.

E*TRADE offers several options for clients, whether they prefer to invest or trade on their own, or seek professional help from a financial advisor. The broker provides access to easy-to-use tools and resources, as well as commission-free trading.

Fidelity International

  • AUM: 816.9B USD
  • Number of clients: 2.80M+
  • Reporting date: March 2024

Founded in 1969, Fidelity International offers investment solutions including mutual funds, pension management and fund platforms to private and institutional investors globally. If you’re looking at how many clients and assets does Fidelity International manage? Here’s the answer.

As of March 2024, Fidelity International’s AUM was $816.9 billion from over 2.80 million clients across different regions such as Asia Pacific, Europe, the Middle East, South America, and Canada.

In addition to its investment expertise, Fidelity International provides guidance for individual investors to help them invest in a simple and cost-effective way. Meanwhile, for institutions including pension funds, banks, and insurance companies, Fidelity International offers full-service asset management outsourcing as well as custom-tailored investment solutions.

Interactive Brokers

  • AUM: 454B USD
  • Number of clients: 2.6M+
  • Reporting date: April 2024

Interactive Brokers is a well-established brokerage firm founded in 1978 offering a massive selection of securities across global markets. Have you ever wondered how much AUM and the number of clients they have?

As of April 2024, Interactive Brokers reported $454 billion in AUM and over 2.6 million clients. IBKR conducts its broker/dealer business on over 150 market destinations worldwide and is headquartered in Greenwich, Connecticut with offices in multiple countries.

Interested in knowing more about Interactive Brokers? Read our IBKR review.

Hargreaves Lansdown

  • AUM: 134.0B GBP (~$170B)
  • Number of clients: 1.8M+
  • Reporting date: Mar 2024

Hargreaves Lansdown is a leading financial services company based in the UK. Founded in 1981, the firm provides a range of investment and savings products to over 1.8 million clients. In terms of assets under management, Hargreaves Lansdown AUM stood at £134.0 billion in Mar 2024.

Hargreaves Lansdown’s platform is known for its user-friendly interface and powerful research tools, and its services include ISAs, pensions, investment portfolios, and savings accounts. 

Saxo Bank

  • AUM: 745B DKK (~$105B)
  • Number of clients: 1.1M+
  • Reporting date: December 2023

Saxo Bank is a Danish online investment bank founded in 1992. The bank provides a range of investment products, including Forex trading, stocks, bonds, and commodities, to individual investors and institutional clients globally. In its 2023 report, Saxo Bank has reported AUM of DKK 745billion (~$105 billion) and over 1 million clients.

Saxo Bank is known for its advanced trading platform, SaxoTraderGO, which offers traders access to a wide range of financial instruments, market data, and charting tools. Additionally, the bank offers research and analysis to help traders make informed decisions and stay ahead of the curve. 

Robinhood

  • AUM: 94.4B USD
  • Number of clients: 25M+
  • Reporting date: March 2024

Robinhood is a US-based financial services company established in 2013. The platform provides investors with the opportunity to trade various financial products, including stocks, ETFs, options, and cryptocurrencies, without having to pay any transaction fees.

Robinhood’s assets under management reached $94.4 billion as of March 2024, and its monthly active users topped 25 million

In addition to its user-friendly trading platform and its commission-free business model, Robinhood also offers a cash management account with a linked debit card. Despite its success, Robinhood faced some controversy in the past including a lawsuit over its handling of GameStop stock during the Reddit-driven market chaos that took place in late January of 2021.

Interactive Investor

  • AUM: 54.0B GBP (~$68B)
  • Number of clients: 425K+
  • Reporting date: June 2023

Interactive Investor is a leading investment platform in the UK, known for being the top flat-fee provider. In May 2022, Interactive Investor was acquired by Abrdn plc so you might want to know how much it has as assets under management and how many clients they have.

Abrdn released its first half report for 2023 and revealed that the AUM of Interactive Investor was estimated at £54 billion and it serves over 425,000 clients. The company provides a comprehensive investment solution, including ISAs, SIPPs, Junior ISAs, and general investment accounts, along with a wide range of investment content, tools, and services to meet the needs of its customers.

Swissquote

  • AUM: 41.9B CHF (~$63.1B)
  • Number of clients: 555K+
  • Reporting date: December 2023

Swissquote is a Swiss online bank and brokerage company established in 1996. It offers a comprehensive range of financial services, including online trading, banking and investment advisory.

As of December 2023, Swissquote’s assets under management was reported to be CHF 41.9 billion (~$63.1 billion), serving over 555,000 clients across various markets such as Forex, stocks, bonds, commodities, and more. The company also offers resources to effectively manage their portfolios, such as trading platforms, market analysis, and financial news updates.

DEGIRO

  • AUM: 58B EUR (~$62B)
  • Number of clients: 2.8M+
  • Reporting date: April 2024

DEGIRO is a Dutch online brokerage firm that was founded in 2013. It provides a low-cost trading platform that allows individuals to invest in a wide range of financial products, including stocks, bonds, ETFs, and more. So, you might be wondering how much it manages or how many clients trust DEGIRO?

As of April 2024, DEGIRO reported AUM of €58 billion and had over 2.8 million clients. The company’s platform is easy to use, offering a wide range of tools and resources to help clients make informed investment decisions and it offers advanced tools for professional traders.

Want to know more about DEGIRO? Check our DEGIRO review.

eToro

  • AUM: 9.4B USD
  • Number of clients: 35.5M+
  • Reporting date: April 2024

eToro is a popular online trading and investment platform known for its innovative approach to investing. The company offers a wide range of investment products, including stocks, commodities, currencies, and more, to users around the world. With a user-friendly interface and a focus on social and copy trading, eToro has quickly become a go-to platform for traders and investors alike.

As of April 2024, eToro reported assets under management of $9.4 billion, and it had over 35.5 million registered users. This growth has been driven by the platform’s user-friendly interface, innovative approach to investing, and commitment to delivering a high-quality investment experience to its users.

Want to know more? Check our eToro review.

IG Group

  • AUM: 10.1B GBP (~$12B)
  • Number of clients: 267K+
  • Reporting date: March 2024

IG Group is a UK-based financial services company that was founded in 1974. The company offers a range of financial products, including Forex, stocks, options, and more. Over the years, it has become one of the largest online trading providers, with a reputation for offering innovative products and services.

As of March 2024, IG Group had £10.1 billion in assets under management and served over 267,000 clients. IG Group also provides a variety of educational resources, market analysis tools, and other resources to help clients make better informed investment decisions.

What are assets under management (AUM)?

In general, AUM refers to the market value of assets managed by a company on behalf of its clients. This metric is used by different financial institutions such as mutual funds, hedge funds, insurance companies, and brokerage firms. It is a key performance indicator that measures the success of a firm in attracting customers and increasing its market share.

The definitions and calculations for AUM can vary by company. For example, funds deposited with the company but over which the company has no discretionary authority are typically excluded from the calculation. In this case, assets under administration are calculated, where the service provider does not have discretion over the asset allocation decisions and the clients manage their funds directly. In this study, we listed the brokers with data related to AUM. If it was not available, we checked their clients’ assets or Assets Under Administration.

Who are the biggest brokers in the world?

As of this writing, the largest broker worldwide (in terms of number of users and AUM) is Fidelity, closely followed by Charles Schwab and Vanguard.

Conclusion

AUM changes over time due to market fluctuations or clients’ withdrawals, and it is usually updated on a quarterly basis. A higher AUM does not imply that the broker has better services than others, or alternatively, a lower AUM does not necessarily indicate a less trustworthy broker. 

Each broker has its own unique features that differentiate it from its competitors, such as fees, minimum balance requirements, or trading platform. Still, not all customers are eligible to open an account at one of the above-mentioned brokers since some brokers limit their services to particular regions. We encourage investors to check the company’s financial statements and website, and do their due diligence about the services and opportunities before opening an account with any broker.

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About the author
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Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.

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