Investment Trends, a leading independent global researcher, has released the 2013 Global Online Broking Report, covering the United States, United Kingdom, Germany, Australia, France and Singapore. Over 90,000 traders and investors took part, making this one of the largest studies of the online broking industry ever conducted.
The world’s most enthusiastic online traders
“Australians remain among the world’s most enthusiastic online traders. 585,000 Australians or 3.4% of the adult population traded shares online at least once in the previous 12 months, giving Australia a market adoption second only to Singapore (5.2%)” said Jimmy Kiely, Australian Online Broking Analyst at Investment Trends. Following Australia were US (2.4%), UK (1.5%), Germany (1.2%) and France (0.9%).
The world’s most concentrated market
The Australian market is also the world’s most concentrated, with 84% of current online investors using one of the top five online brokers as their primary broker. The largest online broker in Australia, CommSec, has an unequalled 44% share of primary relationships.
“CommSec is a uniquely successful firm globally. No other online broker dominates its market the way CommSec does. The closest comparison is Phillip’s Stockbroking in Singapore, with a 26% primary market share.”
Australian traders are the world’s most loyal
“Australian traders are the most loyal in the world, even though Australian brokers received only midrange client satisfaction scores on a number of key indicators.” During the 12 months to December 2013, just 7% of Australian online share investors switched their main broker – one of the lowest levels of switching (equal with the US). “CommSec has a relatively low attrition rate compared to its peers. Combined with its large market share, this helps to account for the low level of churn in the Australian market.”
Bell Direct had the highest overall satisfaction among Australian brokers and ranked 18th globally. Bell Direct was closely followed by CMC Markets Stockbroking who ranked 22nd globally.
Click the following link to view the full report: 2014_Global_OB_Report_Media_Release_Aus
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