This study aims to examine the financial structure of brokerage firms operating in financial markets in Turkey and whose main activity is intermediation in stock market transactions. For this purpose, the financial statements of all public and brokerage firms that comprise the sector for 2018 - 2022 were consolidated and examined comparatively using financial analysis methods. According to the results of the research, the brokerage firm sector has achieved financial growth with the effect of the increase in transaction volumes in the stock exchange to which it is closely affiliated and has entered a period in which profitability is increased, especially for publicly held companies. As the impact of COVID-19 passed in 2020, inflation, which started to be felt especially in 2022, led to a significant increase in business volume and profitability in brokerage firms as a result of the influx of investors into the stock market. Although capital adequacy is an important risk factor for intermediary institutions, no risk factor was found in the examined intermediary institutions, and it should be said that the financial structure does not carry a significant risk element, but portfolio investments should also be examined on a firm basis.

Ensuring the financial capital adequacy of intermediary institutions should not be understood as being able to solve all sector problems. Some of the long-standing problems of the sector, such as the prevention of commission refunds, receiving very low commissions from domestic customers, sensitivities regarding compliance with regulations, and intense competition within the sector, continue to prevent brokerage firms from progressing as investment banking institutions. The poverty experienced in terms of innovation cannot sufficiently support the Istanbul Financial Center project. However, it is possible to say that the sector is among the promising sectors with the increasing interest in the stock market in recent years.