Neobrokers - South Africa
South Africa- Revenue in the Neobrokers market is projected to reach US$46.66m in 2024.
- Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.06% resulting in a projected total amount of US$54.25m by 2029.
- The average revenue per user in the Neobrokers market amounts to US$7.9 in 2024.
- From a global comparison perspective it is shown that the highest revenue is reached 0.0 (0.0 in 2024).
- Assets under management in the Neobrokers market are projected to reach US$4.92bn in 2024.
- Assets under management are expected to show an annual growth rate (CAGR 2024-2029) of 2.98% resulting in a projected total amount of US$5.69bn by 2029.
- The average assets under management per user in the Neobrokers market is expected to amount to US$837.2 in 2024.
- From a global comparison perspective it is shown that the highest assets under management is reached United States (US$323.10bn in 2024).
- In the Neobrokers market, the number of users is expected to amount to 6.69m users by 2029.
- User penetration will be 9.5% in 2024 and is expected to hit 0.0% by 2029.
Neobrokers are financial entities that operate solely in the digital space. They typically position themselves as online brokers, trading platforms, social trading platforms, or retail investment platforms. The evolution of neobrokers began around 2005, when the first firms providing such services were founded. These companies do not belong to other more conventional financial enterprises; however, they might partner with banks to enable more efficient and secure deposits and transfers.
Neobrokers require digital onboarding of its clients and do not have physical branches to provide consultations and services to their customers. Nevertheless, it is not mandatory for their potential clients to have a smartphone to open an account. Neobrokers can charge fees for theirs services, but some provide it for free. Given the nature of online trading activities, neobroker services can be accessed either via a mobile app or via a desktop website.
Within our market scope, we focus only on those neobrokers that provide either exclusively B2C or both B2B and B2C services; those that solely work with B2B clients are excluded from the market. Companies that only provide robo-advisory services and/or only facilitate the trading of cryptocurrencies are also excluded from the scope of this market. Cryptocurrencies were excluded from the scope of this market as well.
In-Scope
- Online broker
- Trading platforms
- Social trading platforms
- Retail investment platforms
Out-Of-Scope
- Companies that solely provide robo-advisory services
- Online brokers that only work with B2B clients
- Cryptocurrency
