{
  "source": "Clarytrade CFD loss-rate dataset",
  "publisher": "https://clarytrade.com",
  "humanReadable": "https://clarytrade.com/research/cfd-loss-rates",
  "license": "Free to cite and reuse with attribution to Clarytrade (clarytrade.com).",
  "disclaimer": "Retail-loss disclosures as displayed on each broker entity's own site on the date shown; brokers recompute them quarterly, so re-read before relying on a figure. Informational only; not financial advice.",
  "stats": {
    "records": 24,
    "brokers": 11,
    "points": 22,
    "min": 65,
    "max": 81,
    "median": 74,
    "ranges": 2,
    "absent": 14,
    "unattributed": 2,
    "blocked": 10,
    "ukEuPairs": 5,
    "euHigherThanUk": 5,
    "euEqualUk": 0,
    "firstHand": 19,
    "asOf": "2026-10-13",
    "oldest": "2026-08-25"
  },
  "records": [
    {
      "brokerName": "Pepperstone",
      "brokerSlug": "pepperstone",
      "entity": "Pepperstone Limited",
      "regulator": "FCA 684312",
      "site": "UK",
      "low": 73.6,
      "wording": "spread bets and CFDs",
      "verbatim": "73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider.",
      "sourceUrl": "https://pepperstone.com/en-gb/trading/trading-accounts",
      "dateRead": "2026-10-13",
      "provenance": "first-hand",
      "note": "Regional product page re-read 2026-10-13; published figure changed from 72.9% to 73.6%. Earlier reads remain in Git history."
    },
    {
      "brokerName": "Pepperstone",
      "brokerSlug": "pepperstone",
      "entity": "Pepperstone EU Limited",
      "regulator": "CySEC 388/20",
      "site": "EU",
      "low": 74.1,
      "wording": "CFDs",
      "verbatim": "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.1% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://pepperstone.com/en-eu/",
      "dateRead": "2026-10-13",
      "provenance": "first-hand",
      "note": "Regional product page re-read 2026-10-13; published figure changed from 72.9% to 74.1%. Earlier reads remain in Git history."
    },
    {
      "brokerName": "Pepperstone",
      "brokerSlug": "pepperstone",
      "entity": "Pepperstone GmbH",
      "regulator": "BaFin 151148",
      "site": "Germany",
      "low": 76.1,
      "wording": "CFDs",
      "verbatim": "CFD sind komplexe Instrumente und beinhalten wegen der Hebelwirkung ein hohes Risiko, schnell Geld zu verlieren. 76.1% der Kleinanlegerkonten verlieren Geld beim CFD-Handel mit diesem Anbieter.",
      "sourceUrl": "https://pepperstone.com/de-de/",
      "dateRead": "2026-10-13",
      "provenance": "first-hand",
      "note": "Regional product page re-read 2026-10-13; published figure changed from 75.2% to 76.1%. Earlier reads remain in Git history."
    },
    {
      "brokerName": "Pepperstone",
      "brokerSlug": "pepperstone",
      "entity": "Pepperstone Markets Limited",
      "regulator": "SCB (Bahamas)",
      "site": "International",
      "low": 80,
      "wording": "CFDs",
      "verbatim": "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://pepperstone.com/en/trading/trading-accounts",
      "dateRead": "2026-10-13",
      "provenance": "first-hand",
      "note": "Regional product page re-read 2026-10-13; published figure changed from 79.6% to 80%. Earlier reads remain in Git history."
    },
    {
      "brokerName": "IC Markets",
      "brokerSlug": "ic-markets",
      "entity": "IC Markets (EU) Ltd",
      "regulator": "CySEC 362/18",
      "site": "EU",
      "low": 72.52,
      "wording": "CFDs",
      "verbatim": "72.52% of retail investor accounts lose money when trading CFDs with IC Markets (EU) Ltd.",
      "sourceUrl": "https://www.icmarkets.eu/",
      "dateRead": "2026-09-01",
      "provenance": "first-hand"
    },
    {
      "brokerName": "XTB",
      "brokerSlug": "xtb",
      "entity": "XTB Limited (UK)",
      "regulator": "FCA 522157",
      "site": "UK",
      "low": 74,
      "wording": "CFDs",
      "verbatim": "74% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.xtb.com/en",
      "dateRead": "2026-09-01",
      "provenance": "first-hand"
    },
    {
      "brokerName": "XTB",
      "brokerSlug": "xtb",
      "entity": "XTB Limited (Cyprus)",
      "regulator": "CySEC 169/12",
      "site": "EU",
      "low": 77,
      "wording": "CFDs",
      "verbatim": "77% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.xtb.com/cy",
      "dateRead": "2026-09-01",
      "provenance": "first-hand"
    },
    {
      "brokerName": "XTB",
      "brokerSlug": "xtb",
      "entity": "XTB S.A.",
      "regulator": "KNF",
      "site": "Poland",
      "low": 77,
      "wording": "CFDs",
      "verbatim": "77% rachunków inwestorów detalicznych odnotowuje straty pieniężne w wyniku handlu kontraktami CFD u niniejszego dostawcy CFD.",
      "sourceUrl": "https://www.xtb.com/pl",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "Polish-language disclosure: \"77% of retail investor accounts record losses trading CFDs with this CFD provider.\""
    },
    {
      "brokerName": "Tickmill",
      "brokerSlug": "tickmill",
      "entity": "Tickmill UK Ltd",
      "regulator": "FCA 717270",
      "site": "UK",
      "low": 68,
      "wording": "CFDs",
      "verbatim": "68% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd.",
      "sourceUrl": "https://www.tickmill.com/uk/trading/accounts-overview",
      "dateRead": "2026-10-13",
      "provenance": "first-hand",
      "note": "Regional product page re-read 2026-10-13; published figure changed from 69% to 68%. Earlier reads remain in Git history."
    },
    {
      "brokerName": "Tickmill",
      "brokerSlug": "tickmill",
      "entity": "Tickmill Europe Ltd",
      "regulator": "CySEC 278/15",
      "site": "EU",
      "low": 74,
      "wording": "CFDs",
      "verbatim": "74% of retail investor accounts lose money when trading CFDs with Tickmill Europe Ltd.",
      "sourceUrl": "https://www.tickmill.com/eu/trading/accounts-overview",
      "dateRead": "2026-10-13",
      "provenance": "first-hand",
      "note": "Regional product page re-read 2026-10-13; published figure changed from 73% to 74%. Earlier reads remain in Git history."
    },
    {
      "brokerName": "Eightcap",
      "brokerSlug": "eightcap",
      "entity": "Eightcap EU Ltd",
      "regulator": "CySEC 246/14",
      "site": "EU",
      "low": 71.9,
      "wording": "CFDs",
      "verbatim": "71.90% of retail investor accounts lose money when trading CFDs with Eightcap EU Ltd.",
      "sourceUrl": "https://eightcap.com/",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "The page source also carries an older 71.28% variant of the same sentence; the displayed banner reads 71.90%. UK and Australian paths on eightcap.com served this same EU page, so no separate UK/AU figure could be isolated."
    },
    {
      "brokerName": "Axi",
      "brokerSlug": "axi",
      "entity": "Axi Financial Services (UK) Limited",
      "regulator": "FCA 466201",
      "site": "UK",
      "low": 66.36,
      "wording": "CFDs",
      "verbatim": "66.36% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.axi.com/uk",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "Two figures on one page: the top banner reads 66.36% (matching the wording Axi's partner team supplied on 2026-08-17); the footer of the same page reads 72.47%, with \"CFDs\" spelt using a Cyrillic С. Raised with Axi for confirmation."
    },
    {
      "brokerName": "Axi",
      "brokerSlug": "axi",
      "entity": "Solaris EMEA Ltd (trading as Axi)",
      "regulator": "CySEC 433/23",
      "site": "EU",
      "low": 67.24,
      "wording": "CFDs",
      "verbatim": "67.24% of retail client accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.axi-solaris.com/eu",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "Says \"retail client accounts\" rather than the usual \"retail investor accounts\". axi.com/eu redirects to axi-solaris.com."
    },
    {
      "brokerName": "RoboForex",
      "brokerSlug": "roboforex",
      "entity": "RoboForex Ltd",
      "regulator": "FSC (Belize)",
      "site": "International",
      "low": 75.85,
      "wording": "CFDs",
      "verbatim": "75.85% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.roboforex.com/",
      "dateRead": "2026-09-01",
      "provenance": "proxy-read",
      "note": "An offshore entity that publishes a figure voluntarily; roboforex.com would not complete a direct fetch from our machine."
    },
    {
      "brokerName": "RoboForex",
      "brokerSlug": "roboforex",
      "entity": "RoboMarkets Ltd",
      "regulator": "CySEC 191/13",
      "site": "EU",
      "low": 65.68,
      "wording": "CFDs",
      "verbatim": "65.68% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.robomarkets.com.cy/about/company/regulation/",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "Sister company of RoboForex Ltd in the same group, operating under the RoboMarkets brand."
    },
    {
      "brokerName": "LiteFinance",
      "brokerSlug": "litefinance",
      "entity": "Liteforex (Europe) LTD",
      "regulator": "CySEC 093/08",
      "site": "EU",
      "low": 81,
      "wording": "CFDs",
      "verbatim": "81% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.liteforex.eu/",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "The highest point figure in the table. The group's international site (litefinance.org) publishes no percentage."
    },
    {
      "brokerName": "ThinkMarkets",
      "brokerSlug": "thinkmarkets",
      "entity": "TF Global Markets (UK) Limited",
      "regulator": "FCA 629628",
      "site": "UK",
      "low": 75,
      "wording": "CFDs",
      "verbatim": "75% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.thinkmarkets.com/uk/legal-documents/",
      "dateRead": "2026-09-01",
      "provenance": "proxy-read",
      "note": "thinkmarkets.com returns 403 to direct fetches; the EU (CySEC) entity's site could not be reached from outside the EU."
    },
    {
      "brokerName": "Capital.com",
      "brokerSlug": "capital-com",
      "entity": "Capital Com (UK) Limited",
      "regulator": "FCA 793714",
      "site": "UK",
      "low": 65,
      "wording": "spread bets and CFDs",
      "verbatim": "65% of retail investor accounts lose money when trading spread bets and CFDs with this provider.",
      "sourceUrl": "https://capital.com/en-gb",
      "dateRead": "2026-08-30",
      "provenance": "first-hand"
    },
    {
      "brokerName": "Capital.com",
      "brokerSlug": "capital-com",
      "entity": "Capital Com SV Investments Ltd",
      "regulator": "CySEC 319/17",
      "site": "EU",
      "low": 74,
      "wording": "CFDs",
      "verbatim": "74% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://capital.com/en-eu",
      "dateRead": "2026-08-30",
      "provenance": "first-hand"
    },
    {
      "brokerName": "Capital.com",
      "brokerSlug": "capital-com",
      "entity": "Capital Com Group Ltd",
      "regulator": "CySEC 463/25",
      "site": "EU",
      "low": 74,
      "high": 89,
      "wording": "CFDs",
      "verbatim": "Between 74-89% of retail investor accounts lose money when trading CFDs.",
      "sourceUrl": "https://capital.com/en-eu",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "Range format on the newly licensed second Cyprus entity (licensed 10 Nov 2025). On 1 Sep 2026 the EU homepage carried this range; the SV Investments point figure above was read on 30 Aug."
    },
    {
      "brokerName": "Capital.com",
      "brokerSlug": "capital-com",
      "entity": "Capital Com Online Investments Ltd",
      "regulator": "SCB (Bahamas)",
      "site": "International",
      "low": 79.75,
      "wording": "CFDs",
      "verbatim": "79.75% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://capital.com/en-int/terms-and-policies",
      "dateRead": "2026-09-01",
      "provenance": "first-hand",
      "note": "An offshore entity that publishes a figure voluntarily; the highest of the four Capital.com entities."
    },
    {
      "brokerName": "IG",
      "brokerSlug": "ig",
      "entity": "IG Markets Limited",
      "regulator": "FCA 195355",
      "site": "UK",
      "low": 69,
      "wording": "spread bets and CFDs",
      "verbatim": "69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.",
      "sourceUrl": "https://www.ig.com/uk",
      "dateRead": "2026-08-25",
      "provenance": "search-indexed"
    },
    {
      "brokerName": "IG",
      "brokerSlug": "ig",
      "entity": "IG Europe GmbH",
      "regulator": "BaFin 148759",
      "site": "Germany",
      "low": 71,
      "high": 72,
      "wording": "CFDs",
      "verbatim": "71–72% of retail investor accounts lose money when trading CFDs with this provider (figure varied between indexed copies).",
      "sourceUrl": "https://www.ig.com/de",
      "dateRead": "2026-08-25",
      "provenance": "search-indexed"
    },
    {
      "brokerName": "IG",
      "brokerSlug": "ig",
      "entity": "IG Bank S.A.",
      "regulator": "FINMA",
      "site": "Switzerland",
      "low": 75,
      "wording": "CFDs",
      "verbatim": "75% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.ig.com/ch",
      "dateRead": "2026-08-25",
      "provenance": "search-indexed"
    }
  ],
  "absent": [
    {
      "brokerSlug": "pepperstone",
      "entity": "Pepperstone Group Limited",
      "regulator": "ASIC 414530",
      "site": "Australia",
      "verbatim": "Trading CFDs and margin FX is risky. It isn't suitable for everyone and if you are a professional client, you could lose substantially more than your initial investment.",
      "sourceUrl": "https://pepperstone.com/en-au/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "ic-markets",
      "entity": "Raw Trading Ltd",
      "regulator": "FSA Seychelles SD018",
      "site": "International",
      "verbatim": "Prices may fluctuate and securities can become entirely valueless. You may incur losses that exceed your potential profits.",
      "sourceUrl": "https://ic.com/global",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "xtb",
      "entity": "XTB International Limited",
      "regulator": "IFSC Belize",
      "site": "International",
      "verbatim": "The financial instruments we offer, especially CFDs, can be highly risky.",
      "sourceUrl": "https://www.xtb.com/int",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "tickmill",
      "entity": "Tickmill Ltd",
      "regulator": "FSA Seychelles SD008",
      "site": "International",
      "verbatim": "Trading financial products on margin carries a high degree of risk and is not suitable for all investors. Losses can exceed the initial investment.",
      "sourceUrl": "https://www.tickmill.com/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "axi",
      "entity": "AxiCorp Financial Services Pty Ltd",
      "regulator": "ASIC 318232",
      "site": "Australia",
      "verbatim": "CFDs and Margin FX are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone and may result in you losing your initial investment.",
      "sourceUrl": "https://www.axi.com/au",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "fusion-markets",
      "entity": "FMGP Trading Group Pty Ltd",
      "regulator": "ASIC 385620",
      "site": "Australia",
      "verbatim": "CFDs are complex financial instruments. Ensure you understand the risks before trading.",
      "sourceUrl": "https://www.fusionmarkets.com/au",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "fxtm",
      "entity": "Exinity Limited",
      "regulator": "FSC Mauritius",
      "site": "International",
      "verbatim": "Trading Leveraged Financial instruments involves significant risk and can result in the loss of your invested capital.",
      "sourceUrl": "https://www.fxtm.com/en/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "vt-markets",
      "entity": "VT Markets Limited",
      "regulator": "FSC Mauritius",
      "site": "International",
      "verbatim": "Trading Contracts for Difference (CFDs) carries a high level of risk and may not be suitable for all investors.",
      "sourceUrl": "https://www.vtmarkets.com/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "puprime",
      "entity": "PU Prime group entities (as listed together)",
      "regulator": "FSA Seychelles and others",
      "site": "International",
      "verbatim": "The use of leverage magnifies both potential profits and losses, meaning you could incur losses greater than your initial deposit.",
      "sourceUrl": "https://puprime.com/en/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "litefinance",
      "entity": "LiteFinance Global LLC",
      "regulator": "SVG FSA registration",
      "site": "International",
      "verbatim": "Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital.",
      "sourceUrl": "https://www.litefinance.org/riskdisclosure/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "startrader",
      "entity": "STARTRADER Limited",
      "regulator": "FSA Seychelles",
      "site": "International",
      "verbatim": "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.",
      "sourceUrl": "https://www.startrader.com/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "blueberry-markets",
      "entity": "Blueberry Markets (Mauritius) Ltd",
      "regulator": "FSC Mauritius",
      "site": "International",
      "verbatim": "CFD trading involves significant risk of loss and may not be suitable for all investors.",
      "sourceUrl": "https://blueberrymarkets.com/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "thinkmarkets",
      "entity": "TF Global Markets Int Limited",
      "regulator": "FSA Seychelles",
      "site": "International",
      "verbatim": "Derivative products are leveraged products and can result in losses that exceed initial deposits.",
      "sourceUrl": "https://www.thinkmarkets.com/en/",
      "dateRead": "2026-09-01"
    },
    {
      "brokerSlug": "capital-com",
      "entity": "Capital Com Australia Pty Ltd",
      "regulator": "ASIC 513393",
      "site": "Australia",
      "verbatim": "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.",
      "sourceUrl": "https://capital.com/en-au",
      "dateRead": "2026-09-01"
    }
  ],
  "unattributed": [
    {
      "brokerSlug": "fxtm",
      "figure": 88,
      "verbatim": "88% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.fxtm.com/about-us/fxtm-faq/",
      "dateRead": "2026-09-01",
      "note": "On an FAQ page, in three wording variants (\"CFDs\", \"Online Forex and CFDs\", \"Online Forex/CFDs\"), with no entity named beside it. The main fxtm.com pages show no percentage at all."
    },
    {
      "brokerSlug": "etoro",
      "figure": 51,
      "verbatim": "51% of retail investor accounts lose money when trading CFDs with this provider.",
      "sourceUrl": "https://www.etoro.com/customer-service/regulation-license/",
      "dateRead": "2026-09-01",
      "note": "On a cross-entity regulation page. The UK, EU and Australian paths redirect or return 404, so the figure cannot be tied to eToro (UK) Ltd, eToro (Europe) Ltd or eToro AUS Capital."
    }
  ],
  "blocked": [
    {
      "brokerSlug": "exness",
      "sites": "all regional sites",
      "reason": "HTTP 403 to every fetch"
    },
    {
      "brokerSlug": "fp-markets",
      "sites": "all regional sites",
      "reason": "HTTP 403 to every fetch"
    },
    {
      "brokerSlug": "xm",
      "sites": "all regional sites",
      "reason": "HTTP 403 to every fetch"
    },
    {
      "brokerSlug": "vantage-markets",
      "sites": "vantagemarkets.com and vantagemarkets.co.uk",
      "reason": "HTTP 403 to every fetch"
    },
    {
      "brokerSlug": "ig",
      "sites": "all regional sites",
      "reason": "HTTP 403; figures held from indexed copies of 2026-08-25"
    },
    {
      "brokerSlug": "avatrade",
      "sites": "all regional sites",
      "reason": "HTTP 403 to every fetch"
    },
    {
      "brokerSlug": "hfm",
      "sites": "all regional sites",
      "reason": "HTTP 403 to every fetch"
    },
    {
      "brokerSlug": "thinkmarkets",
      "sites": "EU (CySEC) site",
      "reason": "Geo-gated to EU visitors"
    },
    {
      "brokerSlug": "vt-markets",
      "sites": "Australian site",
      "reason": "HTTP 403"
    },
    {
      "brokerSlug": "eightcap",
      "sites": "UK and Australian pages",
      "reason": "Every UK/AU path served the EU page"
    }
  ]
}