Market Insights Financial Wealth Management Digital Investment

Neobrokers - Canada

Canada

The Neobrokers market in Canada is projected to generate a revenue of US$130.80m in 2024.
This is expected to grow at an annual rate of 1.23%, resulting in a total revenue of US$135.70m by 2027.
The average revenue per user in the Neobrokers market is estimated to be US$43.06 in 2024.
When compared globally, it is noted that the highest revenue is achieved by 0 ([globalrevenue_currentlayer_yeartoday_maxcountrynameprep] in 2024).
In terms of assets under management, the Neobrokers market in Canada is projected to reach US$13.79bn in 2024.
It is expected to experience an annual growth rate of 1.24%, leading to a total amount of US$14.31bn by 2027.
The average assets under management per user in the Neobrokers market is anticipated to be US$4.54k in 2024.
In a global comparison, in the United States holds the highest assets under management, amounting to US$323,100.00m in 2024.
Looking at the number of users in the Neobrokers market in Canada, it is projected to reach 3.10m users by 2027.
The user penetration rate is expected to be 7.8% in 2024 and is anticipated to increase to 7.8% by 2027.
In Canada, neobrokers are rapidly gaining popularity among millennials and Gen Z, who seek low-cost, user-friendly investment platforms.

Key regions: Canada, Switzerland, United States, Germany, United Kingdom

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.