Electronic stockbroking is not an easy sector to break into. A handful of entrenched providers hold sway, gaining the trust of clients can take time and investment, while recent regulatory investigations have shown that reputations in the sector, which are often built over years, can crumble in minutes.

But five years on from its decision to ramp up its offering in the space, JP Morgan has transformed itself from being a self-declared laggard to breaking into the industry's top five.