Global online interest in FX/CFD brokers fell 4.2% in February from a January peak, settling at 38.5 million in total broker visibility across 49 brokers and 120 countries tracked by FM Intelligence. Despite the monthly pullback, the reading remained 33.5% above February 2025 levels, pointing to continued expansion in the industry's organic footprint rather than a structural retreat.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)
Global Broker Interest Falls 4.2% After January Peak, Europe Holds 43% Share
Europe held 43% of all broker-directed online interest globally, with 16.6 million in total visibility, making it the industry's largest region by a wide margin. North America followed at 20.6% and Asia-Pacific at 23.5%. Africa was the only region where visibility also fell year-on-year, declining 12.2%.
OANDA held the top position in all six geographic regions tracked by FM Intelligence in February, accounting for 36.1% of global broker online visibility and 13.9 million in estimated monthly interest.
No other broker in the dataset ranked first in more than one region. OANDA's cross-regional dominance held even as its absolute visit counts fell month-on-month in five of six regions, a dynamic partly explained by FTMO's acquisition of OANDA in early 2025 and the subsequent transition of its prop trading clients to the FTMO brand.
- Finance Magnates Launches FM Intelligence: Data and Compliance Portal
- 23 FCA-Regulated CFD Brokers With $9.3 Trillion Monthly Volume Face Direct Regulatory Exposure
- Women Deliver More Revenue Per Dollar, Yet Hold Just 6% of Fintech CEO Roles
The sharpest competitive shift in the February data was Capital.com's rapid repositioning toward continental Europe. The broker's German visibility rose 231% month-on-month, from 147,000 to 485,000, making Germany its largest single market globally. Italian visibility climbed 56% and French visibility rose 45%.
That expansion came alongside a 60% drop in the broker's US presence, consistent with Capital.com's broader push into new regulated markets across Europe and beyond. At the same time, XTB lost 402,000 visits in Germany alone, a 43.7% single-month decline that cut its European share from 15.3% to 11.1%.
Elsewhere, Forex.com was the only top-tier broker to grow in both the US and Canada, adding US visits and nearly doubling its Canadian presence. Dukascopy posted the dataset's largest year-on-year gain at 285% in global visibility.
Earlier FM Intelligence analysis linking web traffic to actual CFD volumes adds weight to what these visibility shifts may mean at the trading desk level, and the broader industry context of active CFD accounts exceeding 6 million in Q4 2025 underscores the scale of the competitive battle these visibility numbers reflect.
The full February 2026 FM Intelligence analysis, covering regional breakdowns, individual broker rankings across 120 countries, country-level heat maps, and competitive positioning data, is available on the FM Intelligence Portal.
