The Internet has revolutionized the way in which consumers perform research and participate in the buying and selling of securities. As of January 2003, there are an estimated 33 million U.S. consumer online trading accounts that control roughly $1.6 trillion in customer assets.
The convenience of online trading has introduced millions of new consumers to the possibilities of online money management. At the same time, the Internet and wireless devices have transformed the way in which capital markets operate, and have made it possible for individual investors to have direct access to a variety of different markets, and to tools that were at one time reserved only for the investment professional.
This report concentrates on the state of the online trading industry as it relates to consumer retail brokerage activity.