Brokers With The Most Clients
Written By
James Barra
Written By
James Barra
Edited By
Jemma Grist
Edited By
Jemma Grist
Fact Checked By
William Berg
Fact Checked By
William Berg
Updated
Mar 11, 2025
We investigated trader numbers across the 224 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.
-
1
MoomooNumber of clients: 24,000,000 -
2
InstaTradeNumber of clients: 7,000,000 -
3
PionexNumber of clients: 5,000,000 -
4
CloseOptionNumber of clients: 4,030,320 -
5
Interactive BrokersNumber of clients: 3,500,000 -
6
eToro USANumber of clients: 3,200,000eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation
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.
- CloseOption - CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.
- 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.
Brokers With The Largest User Base Comparison
Compare the most widely used brokers across key metrics:
| 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 |
| CloseOption | $5 | ✔ | Binary Options on Forex & Cryptos | Own | National Bank of Georgia |
| 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 |
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."
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
- Moomoo's analytics and insights are impressive and detailed compared to other brands
- The broker offers access to extended pre-market trading hours
- There are reduced options contract fees from $0.65 to $0
Cons
- There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
- 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
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
- InstaTrade claims to "guarantee" returns through the structured element of its passive trading solution (FISP), with applications approved within 24 hours.
- VPS hosting caters to algo trading strategies with a dedicated physical server providing rapid execution speeds as low as 9 milliseconds.
- InstaTrade TV, consisting of video interviews and valuable market insights spanning equities, cryptos and more, helps identify opportunities and inform short-term trades.
Cons
- Marketing of the FISP, especially phrasing around the “guarantee of profitability” and the “elimination of risks of trading on financial markets” raises concerns.
- 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.
Pionex
"Pionex is an excellent option for crypto traders with an interest in cutting-edge AI like ChatGPT and automated trading."
Pionex Quick Facts
| Demo Account | No |
|---|---|
| Instruments | Cryptos |
| Regulator | FinCEN |
| Platforms | Own |
| Minimum Deposit | $0 |
| Minimum Trade | 0.1 USDT |
Pros
- Excellent and innovative liquidity engines aggregated from Binance and Huobi
- Low trading fees compared with other major exchanges at 0.05% maker and taker
- Money Services Business (MSB) license by US FinCEN
Cons
- Limited contact options
- Does not accept fiat deposits
- No demo account
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
Tobias Robinson, Reviewer
CloseOption Quick Facts
| Bonus Offer | $10 Welcome Gift |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options on Forex & Cryptos |
| Regulator | National Bank of Georgia |
| Platforms | Own |
| Minimum Deposit | $5 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Pros
- Free demo account
- New traders can get started with a $5 minimum deposit
- CloseOption offers weekly trading tournaments with cash prizes
Cons
- Clients need to deposit $50,000+ to qualify for the best payouts
- CloseOption is not regulated by a well-regarded trading authority
- Binary options are only available on fiat and digital currencies
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."
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
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- 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.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
Cons
- 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.
- 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.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
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."
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 online broker offers an intuitive social investment network with straightforward copy trading on cryptos
- A free demo account means new users and prospective day traders can try the broker risk-free
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
Cons
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- Average fees may cut into the profit margins of day traders
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
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.
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).