Work

Prolonged Neobroker usage: Analyzing investment behavior and its impact on trading specific financial products

Year: 2025

Type: article

Abstract: We study the impact of prolonged trading app usage on the investment behavior of Neobroker users. Therefore, we use representative data for German Neobroker users and general investors from a panel survey conducted three times over a period of 14 months. We show that the financial literacy of Neobroker users increases with the prolonged trading app use but still remains rather low. The annual (non-risk adjusted) return of Neobroker users is generally positively affected by owning derivatives and frequent trading. In addition, we investigate which determinants impact Neobroker users to trade special ETFs, cryptocurrencies, derivatives, and ETCs. We found an impact of risk tolerance, risk assessment of respective financial products, and trading frequency on Neobroker users to hold specific financial products. Surprisingly, the investment information source also influences Neobroker users regarding the trading of all four products.

Source: Global Finance Journal

DOI: 10.1016/j.gfj.2025.101222

Authors: Jonas Freibauer, Silja Grawert

Institutions: Universität Trier, Munich University of Applied Sciences

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: hybrid

Estimated APC paid: $2,860

Funder: Stiftung Begabtenförderung Cusanuswerk