This paper collected the profit and loss ratio data of customer accounts of 36 brokers in April 2023. Among them, OvalX was replaced with Capital.com because OvalX had sold customer resources to Capital.com in February 2023. In addition, Gain Capital's data has been updated to Forex.com's data. See the following table:

Among the 36 brokers, a total of 26.66% of client accounts made a profit this month, while 73.34% suffered a loss.

Among them, Blackwell Global ranks first with a profit share of 56.67% of customer accounts. Darwinex is close behind, with a 42% share of account earnings. Other brokers in the top 5 for account earnings are FXOpen (40%), Swissquote (38%), City Credit Capital (%) and eToro (33%).

The highest loss ratio is in the Capital Index, which has 86.32 losses per 100 customers. iFOREX Europe (85.37%), Plus500 (84%), One Financial Markets (82.7%), Capital.com (82%), XTB (81%), Pepperstone (80.9%), GBE brokers (80.79%) and Dukascopy (80.02%) both reported customer account losses of more than 80%.

*OvalX data has been replaced with Capital.com and therefore does not participate year-on-year.

As can be seen from the table above, compared with March 2023, a total of 3 brokers' customer accounts have become more loss-making in the month (marked red), but 8 brokers' customer accounts have decreased in the month (marked green), and the profit and loss ratio of the remaining brokers' customer accounts has not changed. Compared with April 2022, the loss ratio of client accounts of 20 brokers increased this month, and the loss ratio of client accounts of 10 brokers decreased.

It is worth noting that eToro's share of customer account losses fell 14% from the previous month. Swissquote's customer account losses were 19.5 per cent lower than last year.