Around 38,000 retail traders from France were trading in leveraged OTC markets by June 2021.
The French market is similar to Germany, Italy and Spain: clients are very professional.
France is home to more than 67 million people. In terms of population and its area, it is one of the largest countries in Europe and one of the biggest economies worldwide. However, it appears to be relatively small when it comes to the retail Forex (FX) and Contracts for Difference (CFD) market.
According to current data, less than 40,000 people are actively trading in the Republic. This is far less than in neighboring Germany or Poland, where the retail FX/CFD industry is much more developed.
This article will find out what the French retail CFD industry looks like, the magnitude of trader's activity, and how the level of deposits and withdrawals have changed in recent months.
France Is Currently the World's Sixth Largest Economy
France currently ranks as the sixth-largest economy in terms of nominal gross domestic product (GDP). According to the International Monetary Fund (IMF), the indicator's value was over $2,870,152 million in recent years, slightly below the UK, which is fifth on the list.
Additionally, France ranks in the top 20 countries on the Human Development Index (HDI). It is a synthetic measure describing the degree of economic and social development of a selected country. In a nutshell, it describes in which country people live the best.
In addition, France is home to one of Europe's largest stock exchanges, Euronext Paris. With capitalization exceeding 4 trillion dollars, it is the second largest after the London Stock Exchange. It derives from the tradition of the Paris Bourse, founded back in 1724, almost 300 years ago.
Jens Chrzanowski, Chief Value Officer and Member of the Management Board at Admirals Group AS
"French traders give a lot of importance to their funds security (segregation of broker's bank accounts, negative balance compensation, insolvency protection). They are historically much more likely to choose a broker which offers more client protection systems, than another broker which will offer potentially better trading conditions, but less protection," said Jens Chrzanowski, the Chief Value Officer and a Member of the Management Board at Admirals Group AS.
"The same applies to regulation, which is very important to French traders. This often leads them to the choice of brokers which have the best reputation and/or experience. Furthermore, a broker with a local presence (physical office) will probably be a game-changing point, even if trading conditions are worse," he added.
As Chrzanowski revealed, he believes that the number of people owning shares in France is far greater than those actively investing in the stock market each quarter, at around 4 million people. Interestingly, only a modest percentage of this sizable number is interested in over-the-counter (OTC) markets, including CFD trading.
38 Thousand Retail FX/CFD Traders. Not Many, but Still the Most in History
According to data released by Investment Trends, around 38,000 retail traders were trading in leveraged OTC markets by June 2021. However, this is far less than in neighboring Germany, where 84,000 people were actively trading during the same period.
The FX/CFD market is also more prevalent in far smaller Poland, where around 50-60,000 people trade. However, as Lorenzo Vignati, Associate Research Director at Investment Trends, revealed, this is still the highest figure since the statistics were kept.
Lorenzo Vignati, Associate Research Director at Investment Trends
"An estimated 38,000 unique individuals placed an OTC leverage trade in the 12 months to June 2021, and intend to continue trading, the highest since the inception of our study of the French market in 2012. This includes 12,000 self-assessed crypto traders and is consistent with numerous market events (and trading opportunities) through the year. Of significant note, also French online investor numbers (those who have traded direct cash equities or ETFs) surged during the pandemic," Vignati commented.
It is worth noting that Contracts for Difference have gained a fair amount of popularity thanks to cryptocurrency traders who are no longer typically interested in Forex-related instruments, but CFDs on digital assets.
Due to historically record low-interest rates, more people have turned to leveraged markets. As a result, traditional forms of saving no longer work, and the French have started to look for alternatives.
"While traditionally, French investors have been more savers than investors, in our latest French Online Investing Report we observed that the positive market outlook in a zero interest rate environment was absolutely a powerful attractor for conservative yield-chasing French savers," he added.
5,000 Euros on Average Fund French Trader Account
Data from cPattern shows that the retail investor in France's leveraged markets deposits an average of €5,000 in their trading account, withdrawing an average of €3,330 over the same period.
The median for 2021 (data up to November), on the other hand, shows that these figures are slightly lower: for the average monthly deposit, they are €4,000 and for the average monthly withdrawal €2,000.
Ingmar Mattus Co-Founder, Executive Director & COO at Tickmill Group
The "French market is similar to the markets such as Germany, Italy and Spain as clients are very professional and they are very much driven by algorithmic trading. (…) Popular products are stocks, stock indices and commodities. France is quite restrictive when it comes to CFD products and hence many firms do not do any advertising or solicitation of clients in France. The country is, however, also a good market for listed derivatives. We have seen a higher interest towards exchange-traded products such as futures and options as regulators are less concerned about exchange-traded products given there is greater security and transparency," said Ingmar Mattus, the Co-Founder, Executive Director & COO at Tickmill Group.
The first time deposit (FTD) also stays at relatively low levels compared to other developed countries. According to aggregate data for the period from January to November 2021, this value averaged €674 (median €628).
This compares with around €750 in the aforementioned Germany and over €1,000 in the UK. A similar value was reported in Australia, located on the other side of the globe (over €1,000).
The Pandemic Has Changed the Investment Market, Including in France
The Finance Magnates interviewees unanimously agreed that the two years of the pandemic had a significant impact on the financial markets. Not only in terms of more new clients, but also higher volumes and changes in trends regarding the most popular instruments.
The "CFD market benefited enormously from the pandemic as did most other financial markets. We saw large increases in the amount of new onboarded clients, trading volumes and client assets. Last year, growth stabilized slightly. Improvement of crypto CFD trading conditions and addition of new unique products will help to maintain that growth trajectory and enable firms in our space to take back some market share that over the last few years was lost to offshore crypto brokers and exchanges. We are also looking more and more actively into introducing completely new CFD products that have not been available to retail clients thus far," Ingmar Mattus added.
Moreover, Admiral Group AS sees essential market developments. Still, according to Jens Chrzanowski, they need to be divided into two groups of traders: those who are interested in volatility and short-term profits, and those who invest in stocks for long-term results.
"The pandemic and the market-related news in the mass media during the pandemic period made many short-term traders realize, that extraordinary market conditions give opportunities. Many of them started to trade during this period or increased their involvement.
"Stock investors who already own shares with their bank realized, that when markets are bearish they can short-sell CFDs to compensate losses on their securities accounts," Chrzanowski explained.
Thus, the pandemic made different types of investors interested in FX/CFDs in France, but with distinct purposes. However, the figures we mentioned above clearly show that the market is still not fully saturated, and brokers still have the opportunity to acquire new clients.
France is home to more than 67 million people. In terms of population and its area, it is one of the largest countries in Europe and one of the biggest economies worldwide. However, it appears to be relatively small when it comes to the retail Forex (FX) and Contracts for Difference (CFD) market.
According to current data, less than 40,000 people are actively trading in the Republic. This is far less than in neighboring Germany or Poland, where the retail FX/CFD industry is much more developed.
This article will find out what the French retail CFD industry looks like, the magnitude of trader's activity, and how the level of deposits and withdrawals have changed in recent months.
France Is Currently the World's Sixth Largest Economy
France currently ranks as the sixth-largest economy in terms of nominal gross domestic product (GDP). According to the International Monetary Fund (IMF), the indicator's value was over $2,870,152 million in recent years, slightly below the UK, which is fifth on the list.
Additionally, France ranks in the top 20 countries on the Human Development Index (HDI). It is a synthetic measure describing the degree of economic and social development of a selected country. In a nutshell, it describes in which country people live the best.
In addition, France is home to one of Europe's largest stock exchanges, Euronext Paris. With capitalization exceeding 4 trillion dollars, it is the second largest after the London Stock Exchange. It derives from the tradition of the Paris Bourse, founded back in 1724, almost 300 years ago.
Jens Chrzanowski, Chief Value Officer and Member of the Management Board at Admirals Group AS
"French traders give a lot of importance to their funds security (segregation of broker's bank accounts, negative balance compensation, insolvency protection). They are historically much more likely to choose a broker which offers more client protection systems, than another broker which will offer potentially better trading conditions, but less protection," said Jens Chrzanowski, the Chief Value Officer and a Member of the Management Board at Admirals Group AS.
"The same applies to regulation, which is very important to French traders. This often leads them to the choice of brokers which have the best reputation and/or experience. Furthermore, a broker with a local presence (physical office) will probably be a game-changing point, even if trading conditions are worse," he added.
As Chrzanowski revealed, he believes that the number of people owning shares in France is far greater than those actively investing in the stock market each quarter, at around 4 million people. Interestingly, only a modest percentage of this sizable number is interested in over-the-counter (OTC) markets, including CFD trading.
38 Thousand Retail FX/CFD Traders. Not Many, but Still the Most in History
According to data released by Investment Trends, around 38,000 retail traders were trading in leveraged OTC markets by June 2021. However, this is far less than in neighboring Germany, where 84,000 people were actively trading during the same period.
The FX/CFD market is also more prevalent in far smaller Poland, where around 50-60,000 people trade. However, as Lorenzo Vignati, Associate Research Director at Investment Trends, revealed, this is still the highest figure since the statistics were kept.
Lorenzo Vignati, Associate Research Director at Investment Trends
"An estimated 38,000 unique individuals placed an OTC leverage trade in the 12 months to June 2021, and intend to continue trading, the highest since the inception of our study of the French market in 2012. This includes 12,000 self-assessed crypto traders and is consistent with numerous market events (and trading opportunities) through the year. Of significant note, also French online investor numbers (those who have traded direct cash equities or ETFs) surged during the pandemic," Vignati commented.
It is worth noting that Contracts for Difference have gained a fair amount of popularity thanks to cryptocurrency traders who are no longer typically interested in Forex-related instruments, but CFDs on digital assets.
Due to historically record low-interest rates, more people have turned to leveraged markets. As a result, traditional forms of saving no longer work, and the French have started to look for alternatives.
"While traditionally, French investors have been more savers than investors, in our latest French Online Investing Report we observed that the positive market outlook in a zero interest rate environment was absolutely a powerful attractor for conservative yield-chasing French savers," he added.
5,000 Euros on Average Fund French Trader Account
Data from cPattern shows that the retail investor in France's leveraged markets deposits an average of €5,000 in their trading account, withdrawing an average of €3,330 over the same period.
The median for 2021 (data up to November), on the other hand, shows that these figures are slightly lower: for the average monthly deposit, they are €4,000 and for the average monthly withdrawal €2,000.
Ingmar Mattus Co-Founder, Executive Director & COO at Tickmill Group
The "French market is similar to the markets such as Germany, Italy and Spain as clients are very professional and they are very much driven by algorithmic trading. (…) Popular products are stocks, stock indices and commodities. France is quite restrictive when it comes to CFD products and hence many firms do not do any advertising or solicitation of clients in France. The country is, however, also a good market for listed derivatives. We have seen a higher interest towards exchange-traded products such as futures and options as regulators are less concerned about exchange-traded products given there is greater security and transparency," said Ingmar Mattus, the Co-Founder, Executive Director & COO at Tickmill Group.
The first time deposit (FTD) also stays at relatively low levels compared to other developed countries. According to aggregate data for the period from January to November 2021, this value averaged €674 (median €628).
This compares with around €750 in the aforementioned Germany and over €1,000 in the UK. A similar value was reported in Australia, located on the other side of the globe (over €1,000).
The Pandemic Has Changed the Investment Market, Including in France
The Finance Magnates interviewees unanimously agreed that the two years of the pandemic had a significant impact on the financial markets. Not only in terms of more new clients, but also higher volumes and changes in trends regarding the most popular instruments.
The "CFD market benefited enormously from the pandemic as did most other financial markets. We saw large increases in the amount of new onboarded clients, trading volumes and client assets. Last year, growth stabilized slightly. Improvement of crypto CFD trading conditions and addition of new unique products will help to maintain that growth trajectory and enable firms in our space to take back some market share that over the last few years was lost to offshore crypto brokers and exchanges. We are also looking more and more actively into introducing completely new CFD products that have not been available to retail clients thus far," Ingmar Mattus added.
Moreover, Admiral Group AS sees essential market developments. Still, according to Jens Chrzanowski, they need to be divided into two groups of traders: those who are interested in volatility and short-term profits, and those who invest in stocks for long-term results.
"The pandemic and the market-related news in the mass media during the pandemic period made many short-term traders realize, that extraordinary market conditions give opportunities. Many of them started to trade during this period or increased their involvement.
"Stock investors who already own shares with their bank realized, that when markets are bearish they can short-sell CFDs to compensate losses on their securities accounts," Chrzanowski explained.
Thus, the pandemic made different types of investors interested in FX/CFDs in France, but with distinct purposes. However, the figures we mentioned above clearly show that the market is still not fully saturated, and brokers still have the opportunity to acquire new clients.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Aussies on CMC Invest Traded Local Stocks Six Times More Than US-Listed Ones
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
