European market officials will analyse the risks of zero-commission stock trading apps such as Robinhood in the wake of the GameStop saga, and the lack of transparency they may provide to users.

European Securities and Markets Authority chair Steven Maijoor said the body had potential “concerns about the transparency of the fee structure” in commission-free stock trading, adding that “in particular, the role of online brokers’ business models in creating the recent surge in retail investor participation should be further investigated”.