Retail traders displayed heightened risk aversion during the second quarter of 2026 amid geopolitical uncertainty and unclear macroeconomic signals, according to easyMarkets’ quarterly trading review. Trading volumes declined compared to both the previous quarter and the same period in 2025, even as gold, crude oil, and US stock indices remained the most actively traded instruments on the platform.
Gold maintained its status as the top traded asset, reinforcing its safe-haven appeal during unstable conditions. Crude oil ranked second, driven by Middle East tensions particularly around the Strait of Hormuz, which generated significant price volatility and heightened energy sector activity. Despite these market swings, clients refrained from aggressive positioning and instead reduced overall exposure levels.
The quarter was characterised by disciplined trading behaviour rather than volume chasing. Day trading strategies dominated as clients prioritised short-term opportunities while avoiding overnight exposure. easyMarkets reported increased adoption of stop-loss orders, indicating traders were defining risk parameters more carefully before entering positions.
Chief Risk Officer Giannis Nikola emphasised that selective trade execution and capital preservation became the defining features of client behaviour during the period. The shift suggests retail participants are maturing in their approach to volatile market conditions, favouring measured risk management over speculative positioning.
For brokers, these patterns indicate potential margin compression as lower volumes and reduced leverage utilisation may impact revenue streams even during periods of elevated market volatility.
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FXnCO Insight
** Brokers should anticipate that sophisticated risk management behaviours among retail clients may require adjusted revenue models that account for lower volumes and tighter risk parameters during uncertain market conditions.
Source: Finance Magnates