The top 10 retail brokers saw their collective web visibility share drop to 69% in May 2026 from 73.1% in April, according to FM Intelligence data tracking 98 brokers. OANDA maintained first place but its dominance weakened, with its share falling to 27% from 31% month-over-month. Second-placed eToro gained significant ground, rising to 14.5% from 11.6%, narrowing OANDA’s lead from 2.6 times to just 1.8 times their visibility.
Desktop traffic accounted for 66% of broker visits in May, up from 63.1% in April. The ranking largely held steady with a 0.98 correlation between months. FM Intelligence emphasized that web visibility does not correlate directly with trading volumes, meaning high traffic doesn’t guarantee funded accounts or active trading.
The shift comes as publicly-listed players like eToro face investor scrutiny over their crypto-heavy revenue streams while competing for retail trader attention.
FXnCO Insight
Brokers should monitor the widening gap between web traffic acquisition and actual account conversions, as visibility metrics alone no longer guarantee market share or revenue growth.
Source: Finance Magnates