Cross-Border Investment Firms Served 15.5 Million EU and EEA Retail Clients

About 15.5 million retail clients across the European Union and European Economic Area received investment services from firms in other member states in 2025, nearly twice the 2023 total, as regulators track activity spanning national markets. A total of 379 firms served retail clients across borders. Compared with 2024, the number of clients increased 47% and the number of firms rose 2%. Complaints were stable, down 0.2%. Cyprus was the home jurisdiction for 20% of firms providing cross-border services, followed by Luxembourg at 14% and Germany at 12%.

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