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Goldman Sachs

June 3, 2026

Europe Capital Markets Retail Platforms Monthly Metrics

Monthly UpdateEquitiesRates CreditMacro Economic IndicatorsFinancials

Nordnet, Avanza, and FlatexDEGIRO reported strong trading activity for May 2026, with aggregate DARTs up 33% YoY and a notable resurgence in cross-border trading. Savings capital and lending balances also continued their upward trajectory, growing 29% and 24% YoY respectively.

Key Takeaways

  • 1.European retail platforms (Nordnet, Avanza, FlatexDEGIRO) saw notably stronger trading activity in May 2026, with aggregate DARTs increasing 33% YoY.
  • 2.Cross-border trading activity stepped up significantly, reaching 43% for Nordnet and 30% for Avanza.
  • 3.Growth in savings capital remained robust, up 29% YoY, while cash deposits remained relatively steady after a surge in March.

Table of Contents

  • Monthly KPIs - all platforms
  • Monthly KPIs - by platform
  • Number of customers, mn
  • Client savings capital, EUR bn
  • Client cash deposits, EUR bn
  • Settled transactions, mn
  • Daily Average Revenue Trades (DARTs), k
  • Average transactions per customer (annualised)
  • Transactions - Historical Range
  • DARTs - Historical Range
  • New clients - Historical Range
  • Net new money - Historical Range
  • Disclosure Appendix

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Authors

Oliver Carruthers, CFAAnshika MehrotraTom FergusonNaimeh Sabourian

Securities

SAVEAVANZ.STFTKn.DE

Themes

Resurgence of Retail Trading EngagementGrowth in Cross-Border ActivityExpansion of Platform Lending

Regions

EuropeSwedenGermany