**Two Brokers Cross $2 Trillion Monthly Volume Mark in Q2, FM Intelligence Says**
EC Markets has claimed the top spot among retail brokers tracked by FM Intelligence, posting a record $2.11 trillion in average monthly trading volume for Q2 2026. The figure represents a sharp jump from its $1.71 trillion monthly average in Q1. Sydney-based TMGM joined EC Markets above the $2 trillion threshold with $2.03 trillion in monthly volume, marking the first time two brokers have simultaneously breached this level in a single quarter.
EC Markets reported total quarterly volume of $6.34 trillion, up 23.6% from the previous quarter, with approximately 322,000 active traders. The surge contrasts with broader industry trends, as total tracked volumes across 265 brokers declined to $30.45 trillion from Q1’s record $33.5 trillion. TMGM and EC Markets have rapidly overtaken IC Markets, which previously dominated the rankings. Both firms sat below $1.5 trillion in monthly volume just two quarters ago.
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FXnCO Insight
** Market concentration is accelerating as top-tier brokers gain share even during an industry-wide volume pullback, suggesting competitive pressure on mid-sized firms.
Source: Finance Magnates