RESOURCE · DATA
What percentage of forex traders lose money?
Regulators and brokers publish this number. We collected the regulators' findings and the warnings of 21 UK and EU broker entities, each copied from the broker's own website on 16 October 2026.
By FirstPip editorial team · Updated 2026-10-16 · Educational content · No broker owns this site
Quick answer. Between 58.9% and 80% of retail CFD accounts lose money, according to the warnings 21 UK and EU broker entities published on 16 October 2026. Regulators report similar ranges: 74–89% (ESMA, 2018), 80% (FCA), 68% (ASIC, FY2024) and about two-thirds (CFTC).
What do regulators say about how many traders lose money?
Four regulators have published loss figures for retail traders. They measure different groups over different periods, so read each row on its own terms rather than averaging them.
| Regulator | What was measured | Published | Finding |
|---|---|---|---|
| ESMA (EU) | Retail accounts trading CFDs, analysis cited when EU restrictions were agreed | 27 March 2018 | 74–89% of retail accounts typically lose money; average losses per client of €1,600 to €29,000 |
| FCA (UK) | Customers investing in CFDs (figure restated) | 20 February 2026 | 80% of customers lose money |
| ASIC (Australia) | Retail CFD investors, financial year 2024 | 20 January 2026 | 68% lost money, more than A$458 million in total, including A$73 million in fees |
| CFTC (US) | Customers at registered OTC forex dealers, Q2 2021 – Q1 2022 | Customer advisory | About one-third made a profit; two-thirds lost money |
What do brokers themselves disclose?
Brokers regulated in the UK and the EU must show retail clients a risk warning with the share of their own retail accounts that lost money trading CFDs, which includes forex CFDs. We opened each broker's own website on 16 October 2026 and copied the figure exactly as published. Each legal entity reports its own number, so the same brand can show two different figures.
UK entities
| Broker | Legal entity | Share losing money | Warning as published |
|---|---|---|---|
| Interactive Brokers | Interactive Brokers (U.K.) Limited | 58.9% | “58.9% of retail investor accounts lose money when trading CFDs with IBKR.” source |
| Saxo | Saxo Capital Markets UK Ltd | 61% | “61% of retail investor accounts lose money when trading CFDs with this provider.” source |
| Spreadex | Spreadex Ltd | 61% | “61% of retail investors lose money when trading spread bets and CFDs with this provider.” source |
| Capital.com | Capital Com (UK) Limited | 65% | “65% of retail investor accounts lose money when trading spread bets and CFDs with this provider” source |
| FXCM | Stratos Markets Limited | 67% | “67% of retail investor accounts lose money when trading CFDs with this provider.” source |
| StoneX (formerly City Index) | StoneX Financial Ltd | 68% | “68% of retail investor accounts lose money when trading CFDs with this provider.” source |
| Tickmill | Tickmill UK Ltd | 68% | “68% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd.” source |
| CMC Markets | CMC Markets UK plc | 69% | “69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.” source |
| IG | IG Markets Ltd | 70% | “70% of retail investor accounts lose money when trading spread bets and CFDs with this provider.” source |
| Pepperstone | Pepperstone Limited | 73.6% | “73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider.” source |
| XTB | XTB Limited (UK) | 74% | “74% of retail investor accounts lose money when trading CFDs with this provider.” source |
| Plus500 | Plus500UK Ltd | 76% | “76% of retail investor accounts lose money when trading CFDs with this provider.” source |
| OANDA | OANDA Europe Limited | 76.6% | “76.6% of retail investor accounts lose money when trading CFDs with this provider.” source |
EU entities
| Broker | Legal entity | Share losing money | Warning as published |
|---|---|---|---|
| IC Markets | IC Markets (EU) Ltd | 73.46% | “73.46% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd.” source |
| Capital.com | Capital Com SV Investments Limited | 74% | “74% of retail investor accounts lose money when trading CFDs with this provider” source |
| IG | IG Europe GmbH | 74% | “74 % der Kleinanlegerkonten verlieren Geld beim CFD-Handel mit diesem Anbieter. (German-language page)” source |
| Tickmill | Tickmill Europe Ltd | 74% | “74% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd.” source |
| Pepperstone | Pepperstone EU Limited | 74.1% | “74.1% of retail investor accounts lose money when trading CFDs with this provider.” source |
| OANDA | OANDA TMS Brokers S.A. | 77% | “77% of retail investor accounts lose money when trading CFDs with OANDA TMS Brokers S.A.” source |
| XTB | XTB Limited (Cyprus) | 77% | “77% of retail investor accounts lose money when trading CFDs with this provider.” source |
| Plus500 | Plus500CY Ltd | 80% | “80% of retail investor accounts lose money when trading CFDs with this provider.” source |
How should you read these numbers?
- They count accounts, not people or trades. The figure is the share of a provider's retail accounts that ended a recent period with a loss on CFDs. It says nothing about how big the losses were.
- A lower figure is not a recommendation. The disclosures do not explain why one provider's number is lower than another's. Client mix, products offered and account types all differ, so a lower percentage does not show that a broker is safer or better for you.
- The entity matters more than the brand. Plus500 shows 76% for its UK entity and 80% for its Cyprus entity; XTB shows 74% and 77%. Check the figure for the entity you would actually sign up with.
- The numbers move. Brokers recalculate these figures periodically, so treat any figure as a snapshot of the date it was checked.
- Every figure we found is above half. Across all 21 entities, the lowest was 58.9% and the highest 80%. That is the base rate a beginner starts from.
What does this mean if you are just starting?
The base rate is not destiny, but it tells you which skills matter first. Most of the reasons accounts lose money are mechanical: positions that are too large for the account, adding to losing trades and changing the rules after a loss. Our lesson on why most forex traders lose money walks through each one.
Before you risk real money, learn to cap each loss with risk per trade and size every position with the position size calculator. Practise on a demo account first; our guide to demo vs live accounts explains what a demo cannot teach you.
How we collected this data
On 16 October 2026 we opened the official UK or EU website of each broker below and copied the provider-specific risk warning word for word, with the page address. We only used figures shown on the broker's own domain, never review sites or old screenshots. Where a broker's page showed only a general warning with no percentage, or we could not load the page, we left the broker out rather than guess: eToro, Admirals, Swissquote, AvaTrade, FxPro, Exness, ThinkMarkets and Trading 212 are not in the tables for that reason. City Index's UK site now redirects to StoneX, so its row uses the StoneX figure.
FirstPip has no commercial relationship that depends on these figures, and this page carries no broker links other than the source of each warning. We plan to re-check every figure each quarter; the next check is due in January 2027. Spotted a figure that has changed? Tell us through the contact page.
Frequently asked questions
What percentage of forex traders lose money?
Most retail traders do. UK and EU broker entities we checked on 16 October 2026 report that 58.9% to 80% of their retail CFD accounts lose money. Regulators report 74–89% (ESMA, 2018), 80% (FCA) and 68% (ASIC, FY2024), and the CFTC says about two-thirds of US OTC forex customers lost money.
Why do EU entities often show higher figures than UK ones?
The disclosures do not give reasons. Each legal entity reports on its own clients, products and period, so figures for the same brand can differ by several points between its UK and EU entity. Compare the figure for the exact entity you would open an account with.
Does a lower percentage mean a better broker?
No. A lower figure reflects that provider's client base over a recent period; it is not a measure of safety, fairness or what will happen to you. Check regulation and costs, and control your own risk per trade, instead of choosing on this number.
Keep going
Sources
- ESMA — ESMA agrees to prohibit binary options and restrict CFDs to protect retail investors (27 March 2018)
- FCA — Influencers fined for issuing unauthorised financial promotions; 80% CFD loss figure restated (20 February 2026)
- ASIC — 26-004MR: refunds after CFD sector review, incl. FY2024 loss data (20 January 2026)
- CFTC — Customer Advisory: Eight Things You Should Know Before Trading Forex
- Interactive Brokers — Interactive Brokers (U.K.) Limited risk warning (checked 16 October 2026)
- Saxo — Saxo Capital Markets UK Ltd risk warning (checked 16 October 2026)
- Spreadex — Spreadex Ltd risk warning (checked 16 October 2026)
- Capital.com — Capital Com (UK) Limited risk warning (checked 16 October 2026)
- FXCM — Stratos Markets Limited risk warning (checked 16 October 2026)
- StoneX (formerly City Index) — StoneX Financial Ltd risk warning (checked 16 October 2026)
- Tickmill — Tickmill UK Ltd risk warning (checked 16 October 2026)
- CMC Markets — CMC Markets UK plc risk warning (checked 16 October 2026)
- IG — IG Markets Ltd risk warning (checked 16 October 2026)
- Pepperstone — Pepperstone Limited risk warning (checked 16 October 2026)
- XTB — XTB Limited (UK) risk warning (checked 16 October 2026)
- Plus500 — Plus500UK Ltd risk warning (checked 16 October 2026)
- OANDA — OANDA Europe Limited risk warning (checked 16 October 2026)
- IC Markets — IC Markets (EU) Ltd risk warning (checked 16 October 2026)
- Capital.com — Capital Com SV Investments Limited risk warning (checked 16 October 2026)
- IG — IG Europe GmbH risk warning (checked 16 October 2026)
- Tickmill — Tickmill Europe Ltd risk warning (checked 16 October 2026)
- Pepperstone — Pepperstone EU Limited risk warning (checked 16 October 2026)
- OANDA — OANDA TMS Brokers S.A. risk warning (checked 16 October 2026)
- XTB — XTB Limited (Cyprus) risk warning (checked 16 October 2026)
- Plus500 — Plus500CY Ltd risk warning (checked 16 October 2026)