Europe Capital Markets: Retail platforms monthly metrics: June-26

Research evidence excerpt

Europe Capital Markets: Retail platforms monthly metrics: June-26

Equity Research

3 July 2026 | 8:22AM BST

Today (July 3), Avanza, flatexDEGIRO, and Nordnet published their monthly trading Oliver Carruthers, CFA

+44(20)7552-9364 |

statistics for June 2026. Overall, the data points to continued strength in retail oliver.carruthers@gs.com

Goldman Sachs International

investor activity, with trading volumes remaining robust across platforms, +36% YoY,

Anshika Mehrotra

and customer growth accelerating to +1% MoM. Of note, customer growth notably +1(212)934-7679 |

accelerated at Nordnet in June, while DARTs at FTK were best-in-class and increased anshika.mehrotra@gs.comGoldman Sachs India SPL

further in June MoM. Cross-border trading activity remained elevated, with Avanza Tom Ferguson

and Nordnet both reporting a further increase in the share of foreign securities +44(20)7051-0547tom.ferguson@gs.com|

trading MoM. Elsewhere, while savings capital continued to grow across all three Goldman Sachs International

Sabourianplatforms, cash balances saw a modest decline MoM. Lending balances also Naimeh | +44(20)7051-0573

increased 3% in June MoM. naimeh.sabourian@gs.com Goldman Sachs International

n Customer growth: All platforms saw the number of customers increase slightly

vs. May-26 (+0.9% MoM across each of the three platforms) and up c.11% vs.

June-25.

n Daily Average Revenue Trades (DARTs): Aggregate DARTs grew substantially

YoY (+26%), as market volatility once again drove elevated retail trading activity

in June, but were 7% lower vs. May-26.

n Share of cross-border trading: The share of cross-border trading - which had

normalised slightly in recent months from record highs - stepped up notably in

June for both Nordnet (+3pp to 45% of trades) and Avanza (+7pp to 37% of