Retail CFD Trading Activity per Account Falls in Q2 2026

Retail CFD brokers entered the second quarter of 2026 with broadly stable account numbers, but those accounts generated less trading activity.

Industry data covering 51 brokers shows that monthly trading volume per active account declined at 45 firms during the quarter. The median fell to $3.06 million, down 9.7% from $3.40 million in the first quarter.

The figures show that account growth and actual trading activity did not move together during the period.

Contents

01

Most Brokers Recorded Lower Activity per Account

02

Active Accounts Stayed Close to 7.4 Million

03

Large Differences Remain Between Brokers

04

Account Numbers Alone Give an Incomplete Picture

05

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Most Brokers Recorded Lower Activity per Account

Only six of the 51 brokers increased monthly volume per active account from the previous quarter.

In four of those cases, the improvement came alongside a decline in estimated active accounts. Just two firms managed to increase both their account base and trading volume.

For most of the market, adding or retaining accounts was not enough to offset weaker trading activity. Some brokers reported more active clients but lower total volume, while others saw both measures decline.

Active Accounts Stayed Close to 7.4 Million

The estimated number of active accounts remained relatively stable at around 7.39 million on an excluding-Japan basis, down just 0.4% from the first quarter.

Trading volume moved more sharply.

The industry-wide weighted volume per account fell 7% to $4.12 million. This decline was smaller than the fall in the median because larger brokers carry more weight in the calculation.

With the overall account base barely changing, the lower ratio was driven primarily by reduced trading volume rather than a significant loss of clients.

Large Differences Remain Between Brokers

The gap between the highest and lowest volume-per-account figures widened to roughly 21 times during the quarter.

Such differences do not necessarily mean that clients at one broker trade 21 times more than those at another. The calculation divides total reported volume by estimated active accounts, and the result can be affected by product mix, leverage and how each company defines an active client.

Some firms also combine different types of investment accounts in their reporting, making direct comparisons less precise.

Seventeen brokers reported unchanged account estimates during the quarter, another reason why small movements in the rankings should be treated cautiously.

Account Numbers Alone Give an Incomplete Picture

Active account totals are often used to measure broker growth, but the Q2 figures show their limitations.

A larger customer base can coexist with falling trading volume if clients trade less frequently or use smaller positions. Changes in market volatility, product demand and leverage can also affect how much activity each account generates.

For broker analysis, account growth therefore provides more context when viewed alongside trading volume rather than as a standalone measure.

The second-quarter figures point to a market where client numbers remained relatively steady, while trading intensity weakened across most firms.

About WikiFX

WikiFX is a global forex broker information and verification platform. It provides broker profiles, regulatory records, licence information, background checks, risk alerts and market-related data to help users review brokers and industry developments before making financial decisions.