Investment App Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis, Digital Finance & Fintech | Last updated: September 8, 2026 | License: CC BY 4.0
Five investment platforms that publish audited account counts held $14.42 trillion across 83.21 million accounts in their most recent filings. The three app-native brokers among them — Robinhood, Webull and eToro — carried 45.44% of those accounts and 2.89% of those assets. That gap is the real investment app statistic of 2026.
Quick Answer
According to Axis Intelligence Research, the five-platform Axis Investment Platform Panel held $14.42 trillion of client assets across 83.21 million funded or active accounts as of each platform’s latest disclosure, a blended $173,321 per account. App-native brokers averaged $11,021 per funded account against $326,552 at Charles Schwab. The Investment Platform Depth Index reads 73.72 for Interactive Brokers and 8.19 for eToro.
Key Findings
- According to Axis Intelligence Research, Robinhood, Webull and eToro together held 45.44% of the panel’s 83.21 million accounts but only 2.89% of its $14.42 trillion in client assets as of their latest reporting dates.
- According to Axis Intelligence Research, average assets per funded account ran $12,993 at Robinhood, $5,556 at Webull and $4,486 at eToro, against $176,337 at Interactive Brokers and $326,552 at Charles Schwab.
- According to Webull’s second-quarter 2026 results, the company reported 28.2 million registered users and 5.13 million funded accounts, an 18.19% conversion rate that leaves 23.07 million registered users holding no funded balance.
- According to Interactive Brokers, client accounts rose 35% year over year to 5.460 million in August 2026 while client equity rose 35% to $962.8 billion, the only platform in the panel where account growth and asset growth moved at the same rate.
- According to Axis Intelligence Research, the Investment Platform Depth Index ranks Interactive Brokers first at 73.72 points and eToro last at 8.19 points, with Webull (33.83) placing above Robinhood (22.67) purely on the strength of an 79.25% asset increase off a $15.9 billion base.
How Many People Use Investment Apps in 2026?
The honest answer is that nobody knows, because the industry counts three different things and calls them all users.
Webull reports registered users — anyone who completed sign-up. eToro and Robinhood report funded accounts or funded customers — people with money in. Coinbase reports monthly transacting users — people who did something in the last thirty days. Charles Schwab reports active brokerage accounts, which is closer to a household unit than a person. Stack those together and you get a headline number that means nothing.
The Webull disclosure is the clearest illustration because the company publishes both ends of its funnel. In its second-quarter 2026 results, Webull reported 28.2 million registered users and 5.13 million funded accounts. Axis Intelligence Research puts the conversion at 18.19%. The other 23.07 million registered users are, on the company’s own definition, people who never funded an account or whose balance hit zero for 45 consecutive days.
Reported Users and Accounts by Platform
| Platform | Metric as disclosed | Value | As-of date | Source |
|---|---|---|---|---|
| Charles Schwab | Active brokerage accounts | 39.94 million | 2026-07-31 | Charles Schwab Monthly Activity Report |
| Robinhood | Funded customers | 28.4 million | 2026-06-30 | Robinhood Q2 2026 results |
| Webull | Registered users | 28.2 million | 2026-06-30 | Webull Q2 2026 results |
| Trade Republic | Customers | 10 million | 2025-09-15 | Trade Republic press release [older data] |
| Coinbase | Monthly transacting users | 7.6 million | 2026-06-30 | Coinbase Form 10-Q |
| Interactive Brokers | Client accounts | 5.460 million | 2026-08-31 | Interactive Brokers August 2026 metrics |
| Webull | Funded accounts | 5.13 million | 2026-06-30 | Webull Q2 2026 results |
| eToro | Funded accounts | 4.28 million | 2026-06-30 | etoro Q2 2026 results |
Sources as listed; all figures retrieved September 7, 2026. The Trade Republic row is the company’s most recent public disclosure and is nearly twelve months old, which is why it sits outside the panel used for the index below.
Sarah Davis, Digital Finance & Fintech: Registered users is a marketing metric that survived into the earnings deck. It measures how many people downloaded the app and got through onboarding, which is a measure of acquisition spend, not of investing. Funded accounts is the number that generates a take rate, and it is the only one of the four that two platforms define compatibly enough to compare. When a press release leads with registered users, read that as a statement about the cost of customer acquisition rather than about the customer.
How Much Money Is Actually Held in Investment Apps?
Assets are where the story stops being ambiguous. Every platform in the panel discloses a dollar total, all of them at a stated reporting date, all of them audited or filed.
Robinhood’s second-quarter 2026 results put Total Platform Assets at $369 billion on June 30, 2026, up 32% year over year, with net deposits of $21.7 billion in the quarter and $75.7 billion over the trailing twelve months. Webull reported customer assets of $28.5 billion, up from $15.9 billion a year earlier — a 79.25% increase by our calculation. eToro’s assets under administration were $19.2 billion at quarter end, up 9.71% from $17.5 billion, then slipped to $18.5 billion in the July monthly update.
Set against them, Charles Schwab’s July 2026 Monthly Activity Report recorded $13.04 trillion of total client assets and 39.94 million active brokerage accounts, with $58.1 billion of core net new assets in a single month. Interactive Brokers reported $962.8 billion of client equity across 5.460 million accounts at the end of August 2026.
Client Assets and Accounts, Axis Investment Platform Panel
| Platform | Client assets ($ millions) | Accounts (thousands) | Account basis | As-of date | Source |
|---|---|---|---|---|---|
| Charles Schwab | 13,042,500 | 39,940 | Active brokerage accounts | 2026-07-31 | Charles Schwab Monthly Activity Report |
| Interactive Brokers | 962,800 | 5,460 | Client accounts | 2026-08-31 | Interactive Brokers monthly metrics |
| Robinhood | 369,000 | 28,400 | Funded customers | 2026-06-30 | Robinhood Q2 2026 results |
| Webull | 28,500 | 5,130 | Funded accounts | 2026-06-30 | Webull Q2 2026 results |
| eToro | 19,200 | 4,280 | Funded accounts | 2026-06-30 | etoro Q2 2026 results |
| Panel total | 14,422,000 | 83,210 | — | — | Axis Intelligence Research |
Source: Axis Intelligence Research, compiled from platform filings and results releases, retrieved September 7, 2026.
Two arithmetic results follow directly. Axis Intelligence Research finds the panel’s blended depth is $173,321 per account ($14,422,000 million ÷ 83,210 thousand). And the app-native subset — Robinhood, Webull and eToro — holds $416,700 million across 37,810 thousand funded accounts, which is 2.89% of panel assets on 45.44% of panel accounts.
Which Investment App Holds the Most per Account? The Axis Depth Ranking
Assets per account is the number that separates a brokerage from a distribution channel, and almost nobody publishes it because it is unflattering to the platforms with the biggest download numbers.
Axis Account Depth = disclosed client assets ÷ disclosed funded or active accounts, at each platform’s own reporting date.
Axis Account Depth by Platform
| Rank | Platform | Axis Account Depth (USD) | Inputs | As-of date |
|---|---|---|---|---|
| 1 | Charles Schwab | 326,552 | $13,042,500m ÷ 39,940k | 2026-07-31 |
| 2 | Interactive Brokers | 176,337 | $962,800m ÷ 5,460k | 2026-08-31 |
| 3 | Robinhood | 12,993 | $369,000m ÷ 28,400k | 2026-06-30 |
| 4 | Webull | 5,556 | $28,500m ÷ 5,130k | 2026-06-30 |
| 5 | eToro | 4,486 | $19,200m ÷ 4,280k | 2026-06-30 |
Source: Axis Intelligence Research, computed from the platform filings listed in the accompanying dataset. Retrieved September 7, 2026.
One adjustment matters. Robinhood’s Total Platform Assets include assets managed by registered investment advisers on the TradePMR platform that Robinhood does not custody, and TradePMR reached $50 billion of assets under management in the quarter. Strip that out and Robinhood’s depth falls to $11,232 — still first among the app-native three, but by less than the headline suggests. Axis Intelligence Research publishes both readings rather than picking one.
Two comparisons sit outside the ranking on purpose. Webull holds $1,011 of customer assets per registered user, which is the honest denominator if you insist on using the registered-user number. And Coinbase held $245.9 billion against 7.6 million monthly transacting users at June 30, 2026 — $32,355 per active user — but monthly transacting users measure activity, not accounts, so Coinbase is reported here for context and excluded from the index. Merging an account count with an activity count would produce a figure that means nothing in either direction.
Sarah Davis: The spread here is two orders of magnitude, and it is not a quality judgment — it is a statement about who the customer is. A $4,486 average balance is a first savings account with a chart on it. A $326,552 average balance is a rollover IRA and a taxable account belonging to someone in their fifties. Both are real businesses. What breaks is the sentence, repeated in every retail-investing feature for six years, that treats a download number as evidence of where household money went. The money did not go there. Twenty-eight million funded Robinhood customers hold less than three percent of what thirty-nine million Schwab accounts hold.
The Investment Platform Depth Index (IPDI): Axis Intelligence Research Methodology
Depth alone rewards incumbency. A platform that has served affluent clients for fifty years will always win a per-account contest, which tells you nothing about where the business is going. The Investment Platform Depth Index (IPDI) combines depth with the two momentum measures that every platform in the panel discloses.
Components, weights and normalisation (methodology edition 2026.1):
- Account Depth, weight 0.50 — log₁₀ of Axis Account Depth. The log transform is applied because depth spans two orders of magnitude across the panel ($4,486 to $326,552); on a linear scale Schwab would absorb the entire component and the other four would be indistinguishable.
- Asset Momentum, weight 0.30 — year-over-year change in client assets.
- Account Momentum, weight 0.20 — year-over-year change in funded or active accounts.
Each component is min–max normalised across the five-platform panel, weighted, and multiplied by 100. IPDI is a relative index: the panel’s best reading on a component scores 1.000 and the weakest scores 0.000, so a reading describes a platform’s position among these five, not an absolute standing.
IPDI Readings and Component Inputs
| Platform | log₁₀ depth | Depth (norm.) | Asset momentum | Asset (norm.) | Account momentum | Account (norm.) | IPDI |
|---|---|---|---|---|---|---|---|
| Interactive Brokers | 5.2463 | 0.856 | 35% | 0.364 | 35% | 1.000 | 73.72 |
| Charles Schwab | 5.5140 | 1.000 | 18.96% | 0.133 | 6.06% | 0.000 | 53.99 |
| Webull | 3.7447 | 0.050 | 79.25% | 1.000 | 8% | 0.067 | 33.83 |
| Robinhood | 4.1137 | 0.248 | 32% | 0.321 | 7% | 0.032 | 22.67 |
| eToro | 3.6519 | 0.000 | 9.71% | 0.000 | 17.91% | 0.409 | 8.19 |
Source: Axis Intelligence Research, computed from the platform filings listed in the accompanying dataset. Snapshot as of September 8, 2026; component inputs carry the as-of dates in the dataset. Percentage changes shown as whole numbers are company-reported; those shown to two decimals are computed by Axis Intelligence Research from the disclosed levels.
Worked example, Interactive Brokers: 0.50 × 0.856 + 0.30 × 0.364 + 0.20 × 1.000 = 0.7372, or 73.72 index points.
Scope of the index. IPDI compares platforms whose account definitions differ in ways the filings do not reconcile — Schwab’s active brokerage accounts are not the same object as Robinhood’s funded customers, and neither is Interactive Brokers’ client accounts, which include advisers and introducing brokers alongside individuals. The index also uses each platform’s own most recent reporting date rather than forcing a common date, because forcing one would mean discarding the freshest disclosure from three of the five. Both effects are stable between readings, so the movement of a platform’s IPDI over time is more informative than the level. Coinbase, Trade Republic and SoFi are outside the panel because their disclosed metrics are not account counts on a comparable basis.
Sarah Davis: Webull outranking Robinhood is the reading most likely to be argued with, and it should be. Webull’s 79.25% asset increase comes off a $15.9 billion base — the same percentage applied to Schwab’s balance would mean $10.34 trillion of new client money in a year, which nobody thinks is happening. That is the arithmetic of small numbers, and the index does not pretend otherwise: the weights say growth is worth 30% and depth is worth 50%, and Webull still lands 39.89 index points behind Interactive Brokers. What would change my read is two consecutive years at that rate. One year is a base effect.
Are Investment App Users Actually Trading More in 2026?
Engagement rose everywhere, but the per-account intensity varies more than the totals suggest.
Robinhood traded 774 million options contracts and $956 billion of equity notional in the second quarter, and 13.6 billion event contracts. Webull posted 1.635 million daily average revenue trades, 213 million options contracts and $279 billion of equity notional. Interactive Brokers ran 4.276 million daily average revenue trades in August at an average commission of $2.52 per cleared commissionable order, which works out to 168 annualised cleared trades per client account on the company’s own calculation. Schwab clients averaged 11.648 million daily average trades in July.
eToro’s monthly disclosure is the one worth reading closely, because it splits the ticket size. In July 2026 eToro users placed 48.5 million capital-markets trades at an average invested amount of $207, and 1.4 million crypto trades at $182. Interactive Brokers’ average US Reg-NMS stock trade in the same window was $22,288.
Trading Intensity, Selected Disclosures
| Platform | Measure | Value | Period | Source |
|---|---|---|---|---|
| Charles Schwab | Client daily average trades | 11.648 million | July 2026 | Charles Schwab Monthly Activity Report |
| Interactive Brokers | Daily average revenue trades | 4.276 million | August 2026 | Interactive Brokers monthly metrics |
| Interactive Brokers | Annualised cleared trades per account | 168 | August 2026 | Interactive Brokers monthly metrics |
| Interactive Brokers | Average US Reg-NMS stock trade | $22,288 | August 2026 | Interactive Brokers monthly metrics |
| Webull | Daily average revenue trades | 1.635 million | Q2 2026 | Webull Q2 2026 results |
| Robinhood | Options contracts traded | 774 million | Q2 2026 | Robinhood Q2 2026 results |
| eToro | Invested amount per capital-markets trade | $207 | July 2026 | etoro Q2 2026 results |
| eToro | Invested amount per crypto trade | $182 | July 2026 | etoro Q2 2026 results |
Sources as listed; retrieved September 7, 2026.
A $207 average ticket against a $22,288 average ticket is not two versions of the same customer. It is a savings-plan user and a professional, and the platforms serving them are in different businesses even when the app icons sit on the same home screen.
How Do Investment Apps Make Money From Small Accounts?
Depth of $4,486 or $5,556 per account cannot support a fee-on-assets model, so app-native platforms monetise flow, subscriptions and balances instead.
Robinhood’s second quarter makes the mechanics visible. Total net revenues were $1,308 million with annualised average revenue per user of $187 — against a $12,993 average account, that is roughly 144 basis points of the balance, a take rate no asset manager could charge openly. Robinhood Gold reached 4.8 million subscribers at a 17% adoption rate. The margin book stood at $21.6 billion and retirement assets under custody at $34.5 billion. Robinhood also carried $59 million of unearned Gold subscription revenue on its balance sheet at June 30, 2026, per its Form 10-Q — a small number that tells you the subscription business is now large enough to generate a deferred-revenue line.
Interactive Brokers earns the other way. Client credit balances of $185.6 billion against $962.8 billion of client equity, plus $101.5 billion of margin loans, is a net interest business with a brokerage attached. Schwab’s July margin balances of $169.9 billion and $476.8 billion of transactional sweep cash say the same thing at ten times the scale.
Sarah Davis: 144 basis points is the number to sit with. It is not a fee anyone agreed to — it is what falls out when you divide disclosed revenue by disclosed assets, and it is roughly triple what a full-service adviser charges on a small account. The revenue comes from order flow, spreads, subscription, margin interest and the spread on idle cash, none of which appears on a statement as a line item. That is the app-native model working exactly as designed: the balance is small, so the platform earns on the activity instead of the balance.
Where Are Investment Apps Growing Outside the United States?
International is where the account growth is, and where the disclosure is worst.
Robinhood’s international funded customers surpassed 1 million during the second quarter of 2026. Webull reported approximately 810,000 international funded accounts and licences in 35 markets. eToro is structurally international to begin with; its funded accounts rose 17.91% year over year to 4.28 million, the fastest account growth of any app-native platform in the panel, while its assets under administration rose only 9.71%.
Europe’s largest app-native broker does not report quarterly at all. Trade Republic’s most recent public disclosure, from September 2025, put it above 10 million customers and above €150 billion of assets under management across 18 European markets. That figure is nearly a year old at the time of writing and no newer company statement was available at retrieval, which is why it is flagged [older data] in the dataset and excluded from every Axis calculation on this page. Dividing a year-old asset total by a year-old customer count would produce a European depth reading that no current disclosure supports, so we do not publish one.
Sarah Davis: eToro’s split — accounts up 17.91%, assets up 9.71% — is the pattern to watch across European neobrokers as they scale. Adding accounts faster than assets means average depth is falling, which is what happens when growth comes from first-time investors rather than transfers from an incumbent. It is a perfectly healthy way to build a book and a very slow way to build revenue per account, and the two get confused constantly in coverage of the sector.
Is Crypto Still Driving Investment App Growth?
No, and 2026 is the year the disclosures stopped allowing ambiguity about it.
Coinbase’s Form 10-Q for the quarter ended June 30, 2026 reported Assets on Platform of $245.9 billion against $425.0 billion a year earlier — a 42.14% decline by our calculation, which the filing attributes primarily to lower crypto prices despite unit growth. Monthly transacting users fell to 7.6 million from 8.7 million, down 12.64%.
The same rotation shows inside the multi-asset platforms. eToro’s July monthly metrics recorded 1.4 million crypto trades at $182 invested per trade, against 48.5 million capital-markets trades at $207. Robinhood’s crypto revenue fell 38% year over year to $100 million in the quarter while equities revenue rose 95% to $129 million and options revenue rose 29% to $342 million.
Methodology
Collection. Every figure on this page was retrieved from the issuing company or its SEC filing on September 7, 2026 and logged with source organisation, source document, URL and retrieval date in the accompanying CSV. Sources used: Charles Schwab Monthly Activity Report for July 2026; Interactive Brokers Group brokerage metrics for August 2026; Robinhood Markets second-quarter 2026 results and Form 10-Q for the quarter ended June 30, 2026; Webull Corporation second-quarter 2026 results; etoro Group second-quarter 2026 results and July key performance indicators; Coinbase Global Form 10-Q for the quarter ended June 30, 2026; Trade Republic company press release of September 15, 2025. No figure on this page comes from a secondary aggregator or a market-research estimate.
Axis Account Depth. Disclosed client assets divided by disclosed funded or active accounts, at each platform’s own reporting date. Where a platform’s asset total includes balances it does not custody — Robinhood’s Total Platform Assets include TradePMR adviser assets — both the headline reading and the adjusted reading are published.
IPDI formula. IPDI = 100 × (0.50 × normalised log₁₀ Account Depth + 0.30 × normalised Asset Momentum + 0.20 × normalised Account Momentum), with min–max normalisation across the five-platform panel. All five component inputs and all five normalised values are published in the table above and as rows in the CSV, so any reader can recompute the readings from the stated inputs.
Panel composition and exclusions. The panel is Charles Schwab, Interactive Brokers, Robinhood, Webull and eToro. Coinbase is excluded because monthly transacting users measure activity rather than accounts. Trade Republic is excluded because its most recent disclosure predates the panel window by nearly a year. SoFi is excluded because it discloses total members and total products rather than brokerage account counts and brokerage assets on a comparable basis.
Baseline status. This is the baseline reading of IPDI. No prior readings exist and none are implied; subsequent readings will be published against this baseline, and any change to components or weights will be disclosed with a re-baselining rather than applied silently to history.
Timing. Schwab publishes monthly activity roughly two weeks after month end. Interactive Brokers publishes monthly metrics in the first business days of the following month. Robinhood, Webull, eToro and Coinbase report quarterly. The as-of dates in the dataset are therefore staggered, and every reading on this page carries its own.
About This Dataset
Contents. 140 rows covering funded accounts, registered users, monthly transacting users, active brokerage accounts, client assets, net deposits, trading volumes, commissions, subscription metrics and the full component set of the Investment Platform Depth Index, across six US-listed platforms and one European private broker, spanning June 2025 through August 2026. Every row carries value, unit, as-of date, geography, segment, platform, source organisation, source document, source URL, retrieval date, primary-source flag, Axis-calculated flag, method note and licence.
Licence. CC BY 4.0. Reuse, redistribution and derivative work are permitted with attribution.
Citation line: Axis Intelligence Research, Investment App Statistics 2026, 2026.
Cite This Research
APA: Axis Intelligence Research. (2026). Investment app statistics 2026: Users, assets, and the depth gap between platforms. https://axis-intelligence.com/investment-app-statistics/
MLA: Axis Intelligence Research. “Investment App Statistics 2026: Users, Assets, and the Depth Gap Between Platforms.” Axis Intelligence, 8 Sept. 2026, axis-intelligence.com/investment-app-statistics/.
Chicago: Axis Intelligence Research. “Investment App Statistics 2026: Users, Assets, and the Depth Gap Between Platforms.” Axis Intelligence, September 8, 2026. https://axis-intelligence.com/investment-app-statistics/.
Frequently Asked Questions
Why do investment app user counts differ so much between platforms reporting the same quarter?
Because they count different things and each definition is disclosed separately. Webull’s 28.2 million registered users counts anyone who completed sign-up; its 5.13 million funded accounts counts customers whose balance has not fallen to zero for 45 consecutive days. eToro’s funded accounts additionally require at least one executed trade. Robinhood’s funded customers deduplicate joint accounts to one person. Coinbase’s 7.6 million monthly transacting users resets every thirty days. Comparing across those definitions without saying which one you used is the most common error in coverage of this sector.
What is the Investment Platform Depth Index and what does a reading mean?
IPDI is an Axis Intelligence Research index scoring investment platforms on assets per account (weight 0.50), year-over-year asset growth (0.30) and year-over-year account growth (0.20), min–max normalised across a five-platform panel and scaled 0–100. A reading of 73.72 for Interactive Brokers means it sits closest to the panel’s best position on the weighted combination; eToro’s 8.19 means the opposite. It is a relative measure, so readings are comparable across time for the same panel, not across different panels.
Does Robinhood’s $369 billion in platform assets belong entirely to app users?
Not entirely. Total Platform Assets, as Robinhood defines the metric, include assets managed by registered investment advisers using the TradePMR platform that Robinhood does not custody, and TradePMR reached $50 billion of assets under management in the second quarter of 2026. Removing that amount moves average assets per funded customer from $12,993 to $11,232. Both figures are published in the dataset.
Which investment app is growing fastest — by accounts or by assets?
They are different winners, which is the point. On assets, Webull grew fastest at 79.25% year over year, from $15.9 billion to $28.5 billion. On accounts, Interactive Brokers and eToro lead, at a company-reported 35% and a computed 17.91% respectively. Robinhood added the most accounts in absolute terms — 1.9 million — while growing only 7%, because it is adding to a 26.5 million base.
How much revenue does an investment app earn per dollar of customer assets?
Robinhood is the only panel platform that discloses enough to compute it directly: annualised average revenue per user of $187 against average assets per funded customer of $12,993 is roughly 144 basis points. That revenue comes from transaction-based sources, net interest, margin lending and Gold subscriptions rather than an advertised asset fee, which is why it does not appear on a customer statement.
Is margin lending a meaningful part of investment app balance sheets in 2026?
Yes, and it is growing faster than the asset bases behind it. Robinhood’s margin book reached $21.6 billion at June 30, 2026, up 127% year over year. Interactive Brokers held $101.5 billion of client margin loans in August, up 41%. Charles Schwab’s client margin balances were $169.9 billion in July, up 51% from year-end. Anyone modelling app-native revenue should treat net interest, not commissions, as the swing factor.
Why is Coinbase excluded from the Axis depth ranking?
Because monthly transacting users is an activity metric, not an account count. Dividing $245.9 billion of Assets on Platform by 7.6 million monthly transacting users yields $32,355, but that denominator shrinks when trading slows even if no customer leaves, so the ratio moves for reasons that have nothing to do with account depth. The figure is published for context and kept out of the index rather than merged into it.
What would change the IPDI rankings in the next reading?
Three things, in order of likelihood. A second consecutive year of Webull asset growth above 50% would move it from a base effect to a trend and lift its depth component off the panel floor. A slowdown in Interactive Brokers account growth would cost it the account-momentum component it currently maxes out. And a Trade Republic disclosure with a dated customer count and asset total would let a European app-native broker enter the panel, which would change the min–max range on every component.
Related Axis research: Retail Investor Statistics 2026 · Retail Trading Statistics 2026 · ETF Statistics 2026 · Robo-Advisor Statistics