Every month I put together an analysis of how CFD brokers are performing in their marketing. The idea started as something for myself because I wanted a clear picture of which brands are doing well in different areas. Over time I realized that others working in the industry might find it useful, too.
That is why I am sharing this ranking publicly. It is meant to give marketing professionals, whether you are a marketing manager, an affiliate manager, an influencer or simply interested in the trading space, an overview of who is gaining visibility and how they are doing it.
The data comes from public sources and third-party tools. It is not perfect, since most of it is based on estimates, but hopefully it is good enough to highlight trends, compare approaches and see who is moving ahead. This project is still a work in progress and I will keep adding new data sources and metrics over time.
If you find it helpful, I would be glad if you share it or reference it so more people in the industry can benefit.
Many Thanks,
Published on September 7, 2025
·Edition: August 2025
Key Takeaways: What the Data Shows
-
Search Momentum: 16 of the top 20 brokers gained Google search interest in August, with Exness leading the surge despite already holding the top spot.
-
SEO Strategies Exposed: Oanda, IG and eToro gain organic traffic through a broad range of keywords, while Exness and Deriv reaches strong levels as well with far fewer keywords, likely driven mainly by branded queries.
-
Social Media Power Shift: YouTube drives nearly half (48.7%) of all broker social reach, with NinjaTrader showing standout growth; TikTok remains underutilized except for regional outliers.
-
Reputation as Growth Proxy: Trading212 added 3,729 new Trustpilot reviews, signaling fast client growth, but overall XTB remains the benchmark with unmatched brand visibility and 50M total reach.
Which Brokers Are Most Popular Right Now?
This ranking shows normalized relative search interest from Google Trends (not exact query counts) and the month-over-month movement. These shifts reveal which brokers are gaining visibility—momentum that often leads to more clients and stronger brand awareness.
Chart Data: Current Month Search Interest (Top 15)
| Broker | Current |
|---|---|
| Exness | 247.58 |
| Interactivebrokers | 199.3 |
| Oanda | 147.84 |
| Etoro | 142.26 |
| Xtb | 99.63 |
| Ninjatrader | 41.23 |
| Swissquote | 28.8 |
| Icmarkets | 22.25 |
| Saxobank | 22.15 |
| Pepperstone | 21.32 |
| trading212 | 19.58 |
| plus500 | 18.46 |
| Cmcmarkets | 15.08 |
| Octafx | 14.87 |
| Fpmarkets | 13.76 |
Broker Search Interest Comparison in Numbers
| Broker | YTD | July | August | MoM Change | MoM Change % | Trend |
|---|---|---|---|---|---|---|
 Exness
|
198.17 | 266.70 | 247.58 | -19.12 | -7.17% | |
 Interactivebrokers
|
93.88 | 111.86 | 199.30 | +87.44 | 78.17% | |
 Oanda
|
125.12 | 135.05 | 147.84 | +12.79 | 9.47% | |
 Etoro
|
105.31 | 106.27 | 142.26 | +35.99 | 33.87% | |
 Xtb
|
81.56 | 91.37 | 99.63 | +8.26 | 9.04% | |
 Ninjatrader
|
24.33 | 28.73 | 41.23 | +12.50 | 43.51% | |
 Swissquote
|
22.66 | 22.64 | 28.80 | +6.16 | 27.21% | |
 Icmarkets
|
14.28 | 17.08 | 22.25 | +5.17 | 30.27% | |
 Saxobank
|
14.69 | 14.80 | 22.15 | +7.35 | 49.66% | |
 Pepperstone
|
15.63 | 19.24 | 21.32 | +2.08 | 10.81% | |
 trading212
|
13.24 | 15.64 | 19.58 | +3.94 | 25.19% | |
 plus500
|
16.66 | 16.54 | 18.46 | +1.92 | 11.61% | |
 Cmcmarkets
|
12.00 | 15.93 | 15.08 | -0.85 | -5.34% | |
 Octafx
|
15.73 | 16.46 | 14.87 | -1.59 | -9.66% | |
 Fpmarkets
|
5.83 | 11.98 | 13.76 | +1.78 | 14.86% | |
 Capitalcom
|
7.27 | 8.55 | 12.21 | +3.66 | 42.81% | |
 Libertex
|
8.58 | 12.54 | 11.84 | -0.70 | -5.58% | |
 Avatrade
|
7.95 | 7.83 | 8.85 | +1.02 | 13.03% | |
 Multibank
|
6.77 | 7.41 | 7.93 | +0.52 | 7.02% | |
 Tickmill
|
5.81 | 7.69 | 7.74 | +0.05 | 0.65% |
Google Trends Data Shows 16 of Top 20 Brokers Gaining Interest
Out of the 20 CFD brokers analysed, five stood out in terms of relative search interest for the review period (August 2025): Exness, Interactive Brokers, Oanda, eToro, and XTB. Some brands had to be excluded from the analysis because their names are easily confused with unrelated products or companies outside of finance — for example XM or Naga — which would otherwise inflate the results. Overall, relative search volume from Google Trends is highly volatile and should be treated with caution. It’s best seen as a starting point for further investigation or for spotting extreme cases and anomalies.
Relative search volume is primarily driven by brand awareness — often boosted by paid marketing activity. When a broker invests heavily in OOH or TV advertising, both relative and absolute search volumes are likely to rise accordingly.
Which Brokers Get the Most Organic Traffic and Keyword Rankings?
This chart compares each broker’s estimated organic traffic and total ranking keywords. A strong organic pipeline reduces dependence on paid channels, lowers acquisition costs, and compounds over time.
Chart Data: Organic (Top 15)
| Broker | Traffic | Keywords |
|---|---|---|
| Oanda | 5400000 | 410000 |
| IG | 4000000 | 533000 |
| Etoro | 2700000 | 361000 |
| Exness | 2000000 | 39300 |
| Deriv | 1200000 | 38700 |
| Forexcom | 1100000 | 206000 |
| Xtb | 1000000 | 212000 |
| Xm | 607000 | 14000 |
| trading212 | 534000 | 91000 |
| Interactivebrokers | 491000 | 162000 |
| Saxobank | 376000 | 116000 |
| plus500 | 308000 | 69200 |
| Capitalcom | 300000 | 194000 |
| Cmcmarkets | 274000 | 90400 |
| Icmarkets | 224000 | 16200 |
Organic Traffic and Keywords in Numbers
| Broker | DR | Keywords | KW Trends (MoM) | Traffic | Traffic Trends (MoM) | Top Country |
|---|---|---|---|---|---|---|
|
Oanda
|
84 | 410,000 | 0.99% | 5,400,000 | 1.85% | US |
 IG
|
81 | 533,000 | -1.48% | 4,000,000 | 2.50% | JP |
|
Etoro
|
85 | 361,000 | 5.56% | 2,700,000 | -3.70% | GB |
|
Exness
|
79 | 39,300 | -16.38% | 2,000,000 | -20.00% | IN |
 Deriv
|
76 | 38,700 | -7.19% | 1,200,000 | 0.00% | KE |
 Forexcom
|
76 | 206,000 | -15.23% | 1,100,000 | -18.18% | US |
|
Xtb
|
77 | 212,000 | 0.47% | 1,000,000 | 10.10% | PL |
 Xm
|
80 | 14,000 | -17.16% | 607,000 | 23.06% | ZA |
|
trading212
|
71 | 91,000 | -3.19% | 534,000 | 8.99% | GB |
|
Interactivebrokers
|
79 | 162,000 | 6.58% | 491,000 | -3.46% | US |
|
Saxobank
|
81 | 116,000 | -5.69% | 376,000 | 0.00% | DK |
|
plus500
|
79 | 69,200 | -10.82% | 308,000 | 3.57% | IT |
|
Capitalcom
|
76 | 194,000 | 0.00% | 300,000 | 4.33% | US |
|
Cmcmarkets
|
74 | 90,400 | 1.69% | 274,000 | -9.49% | AU |
|
Icmarkets
|
78 | 16,200 | -13.83% | 224,000 | -11.16% | GB |
 FBS
|
76 | 43,000 | — | 210,000 | — | ID |
|
Ninjatrader
|
77 | 28,300 | -14.76% | 169,000 | -4.14% | US |
 Axi
|
72 | 50,600 | 15.26% | 160,000 | 2.50% | US |
|
Pepperstone
|
73 | 31,800 | — | 157,000 | — | AU |
|
Avatrade
|
77 | 34,700 | -20.41% | 127,000 | -28.35% | IN |
Keyword Traffic Ratio Exposes Content Strategies
Oanda leads organic visibility with 5.4M visits and 410K keywords, translating to about 13 visits per keyword. This shows a strong balance between traffic scale and wide keyword coverage. IG follows with 4.0M visits and an unmatched 533K keywords, the highest number of keywords in the industry, reflecting years of investment in SEO content hubs that provide long-term growth.
The contrast between eToro (2.7M visits / 361K keywords = 7.5 visits per keyword) and Exness (2.0M / 39K = 50.9 visits per keyword) illustrates two very different SEO strategies. eToro spreads its visibility across a large number of both informational and branded searches, while Exness generates similar traffic from far fewer queries, likely relying more on branded searches.
XTB (1.0M / 212K = 4.7 visits per keyword) is another example of a broad content approach, while Deriv (1.2M / 39K = 31 visits per keyword) again points to brand-heavy search dependence.
Looking across the dataset, the visit-per-keyword ratio is a useful lens:
-
High ratios (Exness, Deriv, XM) often signal purely brand-driven organic traffic.
-
Low ratios (XTB, IG, Oanda) show broad keyword footprints, where content depth drives reach rather than brand alone.
Geographically, the U.S. (6 mentions) and UK (3) remain the main battlegrounds, but footprints in India, Australia, and smaller markets like Denmark and Kenya underline how global the competition has become.
A seasonal summer slowdown is visible, but declines are modest and offset by positive movers. The takeaway: organic traffic remains relatively stable and continues to serve as a durable growth channel in an otherwise volatile market.
Which Broker Is Most Visible in ChatGPT & AI Overviews?
Search behavior is changing. Users don’t just type single keywords anymore—they use natural-language prompts. In the zero-click era, answers appear directly on SERPs and AI surfaces, so it’s critical for brokers to be visible across AI search tools with clear, structured content.
Chart Data: AI Overviews & ChatGPT (Top 15 by combined)
| Broker | AI Overviews | ChatGPT |
|---|---|---|
| Forexcom | 2500 | 654 |
| Capitalcom | 2300 | 787 |
| Etoro | 2400 | 527 |
| IG | 1400 | 1500 |
| Oanda | 2200 | 312 |
| Saxobank | 1800 | 331 |
| Xtb | 1600 | 279 |
| Cmcmarkets | 1000 | 252 |
| FBS | 785 | 155 |
| Axi | 676 | 217 |
| Interactivebrokers | 524 | 190 |
| Avatrade | 614 | 96 |
| plus500 | 289 | 226 |
| trading212 | 369 | 122 |
| Exness | 198 | 185 |
AI Search Visibility (GEO/AEO) for Brokers in Numbers
| Broker | AI Overviews | Chat GPT |
|---|---|---|
|
Forexcom
|
2,500 | 654 |
|
Capitalcom
|
2,300 | 787 |
|
Etoro
|
2,400 | 527 |
|
IG
|
1,400 | 1,500 |
|
Oanda
|
2,200 | 312 |
|
Saxobank
|
1,800 | 331 |
|
Xtb
|
1,600 | 279 |
|
Cmcmarkets
|
1,000 | 252 |
|
FBS
|
785 | 155 |
|
Axi
|
676 | 217 |
|
Interactivebrokers
|
524 | 190 |
|
Avatrade
|
614 | 96 |
|
plus500
|
289 | 226 |
|
trading212
|
369 | 122 |
|
Exness
|
198 | 185 |
|
Ninjatrader
|
310 | 73 |
|
Deriv
|
129 | 227 |
|
Pepperstone
|
233 | 31 |
|
Icmarkets
|
33 | 171 |
|
Xm
|
61 | 133 |
AI Will Become the Next Battlefield
AI search tracking is still in its early days. Neither Google nor ChatGPT reveal exactly how their systems surface results, but early evidence points to familiar fundamentals: brand authority, structured data, and strong SEO foundations all play a role. What stands out, however, is that performance is not consistent across platforms. A broker that appears prominently in Google’s AI Overviews may not show up in ChatGPT, which responds to a different type of query and emphasizes more conversational, in-depth answers.
For now, these signals should be seen as early indicators rather than definitive rankings. But the implications are clear: AI has the potential to disrupt the SEO playbook entirely. If users start skipping Google altogether for tasks like checking reviews and instead ask ChatGPT directly, visibility will depend far less on classic keyword rankings and far more on brand recognition and authority in AI-driven contexts.
This shift raises the stakes for brokers. Those who invest in brand equity and structured visibility today will be the ones who surface tomorrow when users rely on AI for answers. While the bulk of traffic still flows through traditional SEO, the direction of travel is obvious. In an AI-first search environment, brand mentions may become the single most important currency of visibility.
Nearly Half of Broker Social Reach Comes from YouTube
Among the top 20 brokers, YouTube dominates the landscape, accounting for nearly half (48.7%) of the total audience. X follows with 21.2%, while Instagram holds 15.7% and TikTok 14.5%. The numbers highlight how video content — especially long-form and educational formats — remains the strongest driver of community reach, while short-form platforms like TikTok and Instagram together make up nearly a third of the overall following.
NinjaTrader stands out with strong growth across multiple channels, likely supported by paid activity on YouTube — a pattern that seems similar to what several other brokers are doing to boost visibility on the platform. By contrast, TikTok still appears to be the underused opportunity, with many brokers struggling to gain meaningful traction. One notable exception is Capital.com’s Arabic-language channel, which currently shows the strongest performance.
Interestingly, a few brokers even recorded declining follower counts, which may point to overly aggressive paid campaigns causing users to unfollow, or simply the removal of fake accounts and bot networks.
Brand Visibility — Which Broker Stands Out?
Strong brand visibility keeps you front-of-mind, lowers acquisition costs, and boosts conversion across every channel. Trusted brands earn more clicks, sign-ups, and referrals—translating directly into commercial growth. The chart below combines Trustpilot ratings and Brand24 visibility metrics to show who’s leading on trust and reach.
Broker Visibility – Brand Snapshot
Chart Data: Trustpilot
| Brand | Total Reviews | New Reviews | Rating |
|---|---|---|---|
| Deriv | 67190 | 1324 | 4.4 |
| trading212 | 63623 | 3729 | 4.6 |
| Icmarkets | 47018 | 911 | 4.8 |
| Exness | 21998 | 2069 | 4.8 |
| Capitalcom | 13164 | 326 | 4.6 |
| Avatrade | 10776 | 352 | 4.8 |
| Vantage Markets | 9370 | 1226 | 4.5 |
| Fpmarkets | 9206 | 332 | 4.9 |
| Axi | 4529 | 489 | 4.4 |
| Naga | 4484 | 30 | 4.3 |
| Fusionmarkets | 4201 | 529 | 4.8 |
| Pepperstone | 3112 | 56 | 4.5 |
| Blackbull Markets | 2430 | 229 | 4.8 |
| CFI | 2284 | 229 | 4.8 |
| Forexcom | 2180 | 84 | 4.7 |
Chart Data: Brand Visibility
| Brand | Total Mentions | Social Media Reach | Non-Social Media Reach | Average Presence Score |
|---|---|---|---|---|
| Xtb | 4991 | 31301334 | 19949540 | 61 |
| Exness | 7265 | 15876723 | 2239378 | 51 |
| Deriv | 3395 | 7399142 | 1008205 | 46 |
| eToro | 5244 | 7123151 | 13042708 | 60 |
| OANDA | 729 | 820936 | 1759819 | 40 |
| Forex | 433 | 577456 | 1044482 | 35 |
Broker Reviews on Trustpilot in Numbers
| Broker | Total Reviews | New Reviews | Growth % | Rating |
|---|---|---|---|---|
| Deriv |
67,190 | 1,324 | 2.01% | 4.40 |
| trading212 |
63,623 | 3,729 | 6.23% | 4.60 |
| Icmarkets |
47,018 | 911 | 1.98% | 4.80 |
| Exness |
21,998 | 2,069 | 10.38% | 4.80 |
| Capitalcom |
13,164 | 326 | 2.54% | 4.60 |
| Avatrade |
10,776 | 352 | 3.38% | 4.80 |
 Vantage Markets |
9,370 | 1,226 | 15.05% | 4.50 |
| Fpmarkets |
9,206 | 332 | 3.74% | 4.90 |
| Axi |
4,529 | 489 | 12.10% | 4.40 |
 Naga |
4,484 | 30 | 0.67% | 4.30 |
 Fusionmarkets |
4,201 | 529 | 14.41% | 4.80 |
| Pepperstone |
3,112 | 56 | 1.83% | 4.50 |
 Blackbull Markets |
2,430 | 229 | 10.40% | 4.80 |
 CFI |
2,284 | 229 | 11.14% | 4.80 |
| Forexcom |
2,180 | 84 | 4.01% | 4.70 |
 Activtrades |
1,503 | 33 | 2.24% | 4.40 |
| Multibank |
1,486 | 79 | 5.61% | 4.60 |
 Tradenation |
1,345 | 47 | 3.62% | 4.40 |
 Infinox |
1,069 | 15 | 1.42% | 4.70 |
 Tio Markets |
634 | 16 | 2.59% | 4.50 |
Brand Performance of Online Brokers in Numbers
| Broker | Total Mentions | Social Media Reach | Non-Social Media Reach | Average Presence Score |
|---|---|---|---|---|
| Xtb |
4,991 | 31,301,334 | 19,949,540 | 61.00 |
| Exness |
7,265 | 15,876,723 | 2,239,378 | 51.00 |
| Deriv |
3,395 | 7,399,142 | 1,008,205 | 46.00 |
| eToro |
5,244 | 7,123,151 | 13,042,708 | 60.00 |
| OANDA |
729 | 820,936 | 1,759,819 | 40.00 |
 Forex |
433 | 577,456 | 1,044,482 | 35.00 |
Trading212 Surges in Reviews, but XTB Remains the Visibility Leader
Trading212 gained 3,729 new Trustpilot reviews in the latest period, a 6.2% increase. This could indicate strong client acquisition, and with the broker now entering the German market, review numbers may rise even faster. When it comes to brand visibility, XTB is still the clear leader. With over 50 million reach across social and non-social channels and the top presence score (61.0), XTB sets the pace for the industry.
Other interesting points from the data:
-
Vantage Markets (+15.1%) and Fusion Markets (+14.4%) also show strong review growth. Their overall size is smaller, but the sharp increase suggests they may be pushing client acquisition more aggressively.
-
Exness is growing both in scale and speed, adding 2,069 new Trustpilot reviews (+10.4%) and holding the second-best brand score (51.0). This shows its marketing efforts are paying off in both visibility and reputation.
FAQ
Why are some big brokers not listed in the trend analysis?
Some brand names are too similar to other brands. Including them could distort the results, so we only use names that can be tracked reliably.
Why is broker XXX not in the list?
We analysed 50 of the biggest brokers. If we missed one, let us know and we’ll check if it can be added.
How can I contribute?
You can suggest brokers to be added, report issues with existing data, or share your own insights. Just reach out through our contact form — we’re always open to community feedback.
Data Sources
Trend data was taken from Google Trends (last 12 months, global), normalized against the search volume for “FYI” to allow comparison.
Organic traffic data, including AI Overviews and ChatGPT visibility, was sourced from Ahrefs.
Social media data was collected from each company’s main global account, unless a regional account showed significantly stronger performance. Only one account per broker was considered.
Brand visibility data came from Brand24, where the average presence score is a proprietary metric.
Trustpilot data was taken directly from the Trustpilot website.
All data is as of 7 September 2025.
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