How Many Traders Lose Money? Loss Rates Across 49 Brokers
EU and UK regulators require brokers to disclose what percentage of retail accounts lose money. We collected this data from 49 regulated brokers. The average: 71.1% of retail accounts lose money trading CFDs and forex.
On average, 71.1% of retail traders lose money when trading forex and CFDs, based on mandatory loss-rate disclosures from 49 EU/FCA-regulated brokers. Loss rates range from 51.00% to 82.00% depending on the broker, with a median of 71.7%.
- These figures come from standardized disclosures required since 2018 under EU MiFID II and FCA rules — self-reported by each broker.
- BrokerRank aggregates and normalizes disclosures across 49 regulated brokers. Data updated 2026.
Key Findings
- Average retail loss rate across 49 EU/FCA-regulated brokers: 71.1%.
- Median loss rate: 71.7%. Range spans from 51.00% (best) to 82.00% (worst).
- eToro has the lowest recorded retail loss rate (51.00%) in our dataset.
- Plus500 has the highest recorded retail loss rate (82.00%).
- Loss rate disclosures are mandatory under EU MiFID II and FCA regulations — self-reported by brokers.
71.1%
Average Loss Rate
71.7%
Median
51.00%
Lowest (Best)
82.00%
Highest (Worst)
Loss Rate Distribution
Most brokers cluster in the 70–74% range. Very few have loss rates below 65%.
All 49 Brokers — Sorted by Loss Rate
Lowest loss rate first. Green = below average, red = above average.
| # | Broker | Loss Rate | Rating |
|---|---|---|---|
| 1 |  eToro | 51% | 4.0/5 |
| 2 |  FxOpen | 60% | 3.7/5 |
| 3 |  Swissquote | 61% | 3.8/5 |
| 4 |  Darwinex | 62% | 3.0/5 |
| 5 |  Purple Trading | 63% | 3.5/5 |
| 6 |  Spreadex | 64% | 3.4/5 |
| 7 |  Dukascopy | 65% | 3.7/5 |
| 8 |  Saxo Bank | 65% | 4.0/5 |
| 9 |  IronFX | 67.62% | 3.7/5 |
| 10 |  ActivTrades | 68% | 3.6/5 |
| 11 |  Valutrades | 68% | 3.1/5 |
| 12 |  Orbex | 68.49% | 3.1/5 |
| 13 |  CMC Markets | 69% | 4.0/5 |
| 14 |  City Index | 69% | 4.1/5 |
| 15 |  Axi | 69.7% | 3.6/5 |
| 16 |  IG Group | 70% | 4.3/5 |
| 17 |  Tickmill | 70% | 3.3/5 |
| 18 |  FXCM | 70% | 3.7/5 |
| 19 |  BlackBull Markets | 70% | 3.9/5 |
| 20 |  Eightcap | 70.2% | 3.6/5 |
| 21 |  HFM | 70.51% | 3.8/5 |
| 22 |  Deriv | 70.78% | 3.8/5 |
| 23 |  EasyMarkets | 71% | 3.6/5 |
| 24 |  HYCM | 71% | 3.4/5 |
| 25 |  Exness | 71.67% | 3.8/5 |
| 26 |  ThinkMarkets | 71.89% | 3.9/5 |
| 27 |  MultiBank Group | 72% | 3.6/5 |
| 28 |  InstaForex | 72% | 3.6/5 |
| 29 |  FxPro | 72.44% | 4.1/5 |
| 30 |  Vantage Markets | 72.5% | 3.9/5 |
| 31 |  BDSwiss | 72.5% | 3.2/5 |
| 32 |  Windsor Brokers | 73% | 3.2/5 |
| 33 |  FP Markets | 73.85% | 3.8/5 |
| 34 |  XTB | 74% | 3.8/5 |
| 35 |  FBS | 74% | 3.9/5 |
| 36 |  Markets.com | 74.2% | 3.8/5 |
| 37 |  IC Markets | 74.32% | 3.9/5 |
| 38 |  Capital.com | 75% | 4.0/5 |
| 39 |  XM | 75.33% | 3.9/5 |
| 40 |  Pepperstone | 75.5% | 4.1/5 |
| 41 |  Admiral Markets | 76% | 3.8/5 |
| 42 |  AvaTrade | 76% | 4.0/5 |
| 43 |  Trading 212 | 76% | 3.6/5 |
| 44 |  Skilling | 76% | 3.5/5 |
| 45 |  Libertex | 77.73% | 3.7/5 |
| 46 |  ForTrade | 78% | 3.8/5 |
| 47 |  NAGA | 80.85% | 3.5/5 |
| 48 |  FXTM | 81% | 3.6/5 |
| 49 |  Plus500 | 82% | 4.0/5 |
Key Findings
The Average Is 71% — Not 80%
The commonly cited "80% of traders lose money" is an overestimate. Across 49 regulated brokers, the actual average is 71.1%. While still high, it means roughly 3 in 10 retail accounts are profitable.
eToro Has the Lowest Loss Rate
At 51.00%, eToro has significantly fewer losing accounts than the industry average. This may reflect their larger base of long-term investors (stocks, ETFs) rather than leveraged CFD traders.
Higher Leverage = Higher Losses
Brokers offering very high leverage (1:500+) tend to report higher loss rates. This aligns with regulatory logic — ESMA's 2018 leverage caps were specifically designed to reduce retail losses.
Loss Rates Are Stable Year-Over-Year
Despite market conditions changing, loss rates have remained in the 65–80% range since ESMA began requiring disclosure in 2018. This suggests the majority of losses are driven by trader behavior, not market conditions.
Risk Warning
CFDs and forex are complex instruments with a high risk of losing money rapidly due to leverage. On average, 71.1% of retail investor accounts lose money when trading CFDs with the brokers in this study. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Related Reading
Methodology
Loss rate data was collected from the mandatory risk warnings on 49 broker websites. Under ESMA regulations (2018) and FCA rules, all EU/UK-regulated brokers offering CFDs must disclose the percentage of retail client accounts that lose money.
Figures are as published by each broker and are typically updated quarterly or annually. Some brokers report slightly different figures across their various regulated entities — we used the figure from their primary EU/UK entity.
Only brokers with CFD/forex products and an active ESMA or FCA-mandated disclosure were included. Pure stock brokers and crypto-only exchanges are excluded as they are not subject to CFD loss rate disclosure.
Cite This Research
— BrokerRank Research, Retail Loss Rates 2026. brokerrank.net/research/retail-loss-rates
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Frequently Asked Questions
What percentage of traders lose money?
Based on mandatory disclosures from 49 EU/FCA-regulated brokers, an average of 71.1% of retail CFD/forex accounts lose money. The range spans from 51.00% (eToro) to 82.00% (Plus500).
Why do brokers have to disclose loss rates?
Since 2018, the European Securities and Markets Authority (ESMA) requires all EU-regulated brokers to disclose the percentage of retail client accounts that lose money trading CFDs. The FCA (UK) has a similar requirement. This is intended to warn retail traders about the risks of leveraged trading.
Which broker has the lowest loss rate?
eToro reports the lowest loss rate at 51.00% of retail accounts. However, lower loss rates can be influenced by the broker's client base (e.g., more experienced traders), product mix, and how losses are calculated.
Does a lower loss rate mean a broker is better?
Not necessarily. Loss rates are influenced by many factors: the broker's client demographics, available leverage, product complexity, and educational resources. A broker with more beginner traders may show higher loss rates even if their platform and pricing are excellent. Use loss rates as one data point alongside regulation, fees, and platform quality.
Are these loss rates accurate?
These figures are self-reported by brokers as required by regulators. They are audited periodically but methodologies can vary slightly between brokers (calculation period, account inclusion criteria). They represent the best available data on retail trading outcomes.
This data is free to cite with attribution to BrokerRank. Please link back to the original study.
BrokerRank. "71% of Retail Traders Lose Money — Data From 50 Brokers." BrokerRank, 2026. https://brokerrank.net/research/retail-loss-rates