APAC Losing Its Dominance

We saw the APAC region lose the large market share it previously held in our data, which came as an unexpected shift. In the third quarter, Europe regained the top position in the ranking for the first time since 2023. APAC’s share of internet traffic to CFD brokers’ websites fell to 36.7%, while Europe led with 37.7%.

DISCLAIMER: Finance Magnates ‘Heat Map’ is created based on the analysis of viewers, visiting the websites of chosen brokers. These brokers represent the Top 50 brokers as seen in Finance Magnates Volume rank. Our analysis does not cover smaller brokers and may not represent the true situation for all brokers. The aim of this section is to present the interest in FX/CFDs industry based on the geolocation of retail investors. It gives all market participants a broader perspective on where the FX/CFDs industry remains popular and where it has potential for the future.

In Q2, Exness, one of the world’s largest retail CFD brokers with a significant market share in India, stopped onboarding new Indian clients. This move had a major impact on its Q3 viewership figures and reshaped the overall structure of the Heat Map. Other brokers have also become more cautious about pursuing aggressive growth strategies in the Indian market.

For now, India, and by extension the wider APAC region, may continue to hold a smaller share of global viewership. CFD brokers are likely to remain cautious and wait until it is clear that returning to more aggressive marketing in India is safe. The country still represents the largest component of the APAC region in our map.

Viewership kept falling through Q3 2025, extending the slowdown that began late in the previous quarter. July started relatively strong with 112.3 million views across the top five brokers, but activity slipped to 103.3 million in August and declined further to 91.7 million in September.