Brokers With The Most Clients In 2025

Written By

James Barra

Edited By

Jemma Grist

Fact Checked By

William Berg

Updated

Sep 17, 2025

We investigated trader numbers across the 227 providers in our evolving database, combining this data with our ratings to rank the largest brokers by client count – helping you find the most established and popular brokers.

Top Brokers With The Most Clients

Below are the 6 most popular brokers based on the number of clients that trade with them. Note that user figures are subject to change.

Why Do These Brokers Lead By Number Of Traders?

Here’s an overview of why these brokers with high client counts trumped the competition in our latest tests:

Moomoo is our top broker with the most clients for 2025. - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
InstaTrade - InstaTrade, based in the British Virgin Islands, is an online broker specializing in fixed income structured products and active trading through CFDs. Its zero-spread accounts, excellent research notably through InstaTrade TV, and access to the popular MT4 alongside its own web-accessible InstaTrade Gear, make it an attractive option for short-term traders at every level.
Pionex - Pionex is a crypto trading platform that specializes in trading robots, offering a variety of ready made bots and strategies to traders as well as integrated AI to help customize a strategy or come up with your own. These can be used on spot crypto markets as well as crypto futures.
Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.

Brokers With The Largest User Base Comparison

Compare the most widely used brokers across key metrics:

Brokers With The Largest User Base Comparison
Broker	Minimum Deposit	Demo Account	Instruments	Platforms	Regulators
Moomoo	$0	✔	Stocks, Options, ETFs, ADRs, OTCs	Desktop Platform, Mobile App	SEC, FINRA, MAS, ASIC, SFC
InstaTrade	$1	✔	FISP, CFDs, Forex, Stocks, Indices, Commodities, Cryptos, Futures	InstaTrade Gear, MT4	BVI FSC
Pionex	$0	✘	Cryptos	Own	FinCEN
Interactive Brokers	$0	✔	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
eToro USA	$100	✔	Stocks, Options, ETFs, Crypto	eToro Trading Platform & CopyTrader	SEC, FINRA
NinjaTrader	$0	✔	Forex, Stocks, Options, Commodities, Futures, Crypto	NinjaTrader Desktop, Web & Mobile, eSignal	NFA, CFTC

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus Offer	Get up to 15 free stocks worth up to $2000
Demo Account	Yes
Instruments	Stocks, Options, ETFs, ADRs, OTCs
Regulator	SEC, FINRA, MAS, ASIC, SFC
Platforms	Desktop Platform, Mobile App
Minimum Deposit	$0
Minimum Trade	$0
Leverage	1:2
Account Currencies	USD, HKD, SGD

Pros

The broker offers access to extended pre-market trading hours
Moomoo's analytics and insights are impressive and detailed compared to other brands
There are reduced options contract fees from $0.65 to $0

Cons

There is no phone or live chat support - common options at most other brokers
It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers

Visit Moomoo

Moomoo Review

InstaTrade

"Although InstaTrade offers active trading on a comprehensive platform, it stands out with its fairly unique Fixed Income Structured Product (FISP), providing passive investment opportunities with up to 50% returns in 6 months if conditions are met. "
Christian Harris, Reviewer

InstaTrade Quick Facts

Demo Account	Yes
Instruments	FISP, CFDs, Forex, Stocks, Indices, Commodities, Cryptos, Futures
Regulator	BVI FSC
Platforms	InstaTrade Gear, MT4
Minimum Deposit	$1
Minimum Trade	0.01
Leverage	1:1000
Account Currencies	USD, EUR, RUB

Pros

Despite an average investment offering of around 300 assets, InstaTrade offers a particularly strong suite of currency pairs, catering to advanced traders seeking opportunities in volatile exotics.
InstaTrade TV, consisting of video interviews and valuable market insights spanning equities, cryptos and more, helps identify opportunities and inform short-term trades.
InstaTrade claims to "guarantee" returns through the structured element of its passive trading solution (FISP), with applications approved within 24 hours.

Cons

InstaTrade is registered in the offshore jurisdiction of the British Virgin Islands, resulting in limited regulatory safeguards for retail investors.
InstaTrade’s growing educational tools provide valuable information for aspiring traders, but still trail category leaders like eToro with no structured course based on experience level.
InstaTrade sports one of the most cluttered websites and client cabinets in the industry, potentially overwhelming new traders, especially compared to XTB’s intuitive trading journey and resources.

Visit InstaTrade

InstaTrade Review

Pionex

"Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading."
William Berg, Reviewer

Pionex Quick Facts

Demo Account	No
Instruments	Cryptos
Regulator	FinCEN
Platforms	Own
Minimum Deposit	$0
Minimum Trade	0.1 USDT

Pros

Money Services Business (MSB) license by US FinCEN
40+ cryptocurrency funding coins accepted
Powerful integrated AI chatbot 'PionexGPT' helps users programme trading bots on Pine script

Cons

Weak regulatory oversight raises safety concerns
Withdrawal fees and limits may apply
Does not accept fiat deposits

Visit Pionex

Pionex Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo Account	Yes
Instruments	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Regulator	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM
Platforms	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower
Minimum Deposit	$0
Minimum Trade	$100
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.

Cons

Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.

Visit Interactive Brokers

Interactive Brokers Review

eToro USA

"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
Jemma Grist, Reviewer

eToro USA Quick Facts

Bonus Offer	Invest $100 and get $10
Demo Account	Yes
Instruments	Stocks, Options, ETFs, Crypto
Regulator	SEC, FINRA
Platforms	eToro Trading Platform & CopyTrader
Minimum Deposit	$100
Minimum Trade	$10
Account Currencies	USD

Pros

The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
A free demo account means new users and prospective day traders can try the broker risk-free
The low minimum deposit and straightforward account opening process means beginners can get started quickly

Cons

There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools

Visit eToro USA

eToro USA Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo Account	Yes
Instruments	Forex, Stocks, Options, Commodities, Futures, Crypto
Regulator	NFA, CFTC
Platforms	NinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD

Pros

NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
You can get thousands of add-ons and applications from developers in 150+ countries
Traders can get free platform access and trade simulation capabilities in the unlimited demo

Cons

There is a withdrawal fee on some funding methods
Non forex and futures trading requires signing up with partner brokers
The premium platform tools come with an extra charge

Visit NinjaTrader

NinjaTrader Review

Should You Choose A Broker With A Large Client Base?

In our experience, opting for a broker with a substantial client base comes with several key advantages:

Trust & Reliability: Our investigations found that larger brokers are often heavily regulated by ‘green tier’ bodies in DayTrading.com’s Regulation & Trust Rating, enhancing security and investor protection. Interactive Brokers is a great example, with over 3.5 million clients and licenses from over 10 respected regulators.
Extensive Asset Selection: Our tests show that the biggest brokers typically offer a wider range of tradable assets to help you build a diverse portfolio, from stocks and funds to currencies and derivatives. Just look at eToro – it provides over 7,000 instruments to its more than 38 million customers.
Better Resources: More clients typically means access to comprehensive educational tools and community insights, making them attractive options for newer traders. XTB demonstrates this in abundance with a well-written suite of training articles for its over 1 million traders.
Continuous Platform Innovation: We’ve seen that brokers with more users generally invest in improving their platforms, ensuring cutting-edge technology and features to retain their large client case. Plus500 is a prime example of this, seriously upgrading the usability and features of its mobile app and web trader in the years we’ve been evaluating it.
Greater Liquidity & Faster Execution: High trading volumes can lead to smoother order execution and better pricing, which are vital for active trading styles like day trading. IG remains a great option in this regard, providing 0.014-second average execution speeds to its hundreds of thousands of clients.

For my personal investments, I only choose well-established brokers with large client bases.

Why? Because they typically offer reliability, peace of mind, and user-friendly tools – essential qualities for both beginner and experienced traders.

James Barra

Contributor

Does A Bigger Broker Always = A Better Broker?

Not necessarily. While a large client base can indicate trustworthiness, stability, and better features, bigger doesn’t always mean better.

Here’s why:

Higher Fees: Unfortunately we’ve seen that some large brokers charge higher spreads, commissions, or inactivity fees. We don’t like seeing major brokers abusing their position in the market by levying high fees on day traders because we know it can impact their profitability.
Slower Customer Support: We’ve found that a massive user base can sometimes lead to longer response times and less personalized service. Fortunately, the firms that made our toplist performed well during our direct tests of their support.
Less Flexibility: Bigger firms may not cater to more niche day trading strategies like scalping, provide personalized account features, or such generous leverage terms that active traders may be seeking.
Marketing Over Substance: To our annoyance, some large brokers like Robinhood appear to invest heavily in advertising rather than platform improvements or user experience. Where this is the case, we lower their ratings.

In conclusion, it’s always best to compare brokers based on your specific needs – not just size alone.

FAQ

How Big Are The Brokers With The Most Clients?

While many big brokers boast hundreds of thousands of clients, the true heavyweights service many more customers.

Based on our latest research, there are a number of brokerages with millions of clients. Among the biggest are eToro (38 million), FBS (27 million), and Plus500 (26 million).