Exclusive: May's Broker Report Reveals 9 Out of 35 Improve Client Profitability

Fazzaco gathered data from 35 brokers in May 2023. Blackwell Global was excluded from the list because it had outdated data and a low account loss ratio, which could skew the average data.

Among the 35 brokers, an average of 25.92% of client accounts were profitable this month, while 74.08% of them suffered losses. Specifically, Swissquote topped the list with a high win rate of 45%. Darwinex came in second, with 42% of accounts making money. Other brokers in the top 5 were FXOpen (40%), JFD Brokers (33.14%), City Credit Capital (31.96%) and ADS Securities (31%).

The highest losing rate goes to Capital Index, with 86.2 people losing money out of every 100 clients. The losing rate of iFOREX Europe (85.37%), Plus500 (84%), FXPro (83.39%), One Financial Markets (83.1%), Pepperstone (80.9%), GBE brokers (80.79%) and Dukascopy (80.02%) all exceeded 80%.

*OvalX has been replaced by Capital.com, so not applicable in the year-on-year comparison.

*HYCM data falls in between 73-76%, with an average of 74.5%.

As can be seen from the table above, compared with April 2023, there are 4 brokers whose client losing rate increased (marked in red), but there are 9 brokers whose rate has decreased (marked in green), and the remaining brokers' data remains unchanged. And compared with May 2022, there are 18 brokers whose losing rate has increased, and 11 brokers whose losing rate has decreased.

Notable changes: Swissquote's client losing rate dropped by 7% month-on-month from last month. eToro's client losing rate, however, went up by 10% month-on-month.