The number of active retail brokerage accounts barely changed in Q2 2026, even as trading activity declined from the Q1 level. Finance Magnates Intelligence estimates the tracked account base at 7.39 million.
the Full analysis of each broker is now available on the FM Intelligence portal. It examines which companies added accounts, which moved down the rankings and how trading intensity changed during the quarter.
Accounts and activity drift apart
Active accounts were down just 0.4% compared to Q1 2026. Average monthly trading volume declined even faster on the matched data set, resulting in monthly volume per active account falling by 7%.
The overall score does not describe each broker. Many companies expanded their total accounts while others reported declines, and the names with the largest client books were not always the ones recording the highest volume per account.
FM Intelligence calculates the proportion of total FX and non-FX linked volume and estimated active accounts. It measures the activity associated with each account, not revenue, profitability, or number of unique traders.
Broker ratings tell a different story
Account classification adds another layer to… Broker volume numbers for the second quarter published earlier by Finance Magnates. The average monthly trading volume of the two brokers exceeded $2 trillion, but the volume of trading activity did not directly translate into the largest account base.
The DataLab report shows the leading brokers by active accounts, the biggest gainers and losers on a quarterly basis, and companies where account growth moved in the opposite direction to trading volume. It also compares the second quarter of 2026 with the first quarter of 2026 and the second quarter of 2025.
The comparison uses charts of accounts from Finance Magnates Intelligence’s quarterly industry reports and excludes Japan to keep the three periods on the same basis. Non-public broker figures may be reported by companies or estimated by FM Intelligence.
Read the full analysis of Q2 2026 active accounts and broker ranking on FM Intelligence DataLab.
This article was written by Damian Schmil at www.financemagnates.com.
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