Clients at retail broker IC Markets had their most profitable month on record during the gold boom in October last year, according to the broker’s Head of Trading Angus Walker.
Speaking on a podcast at the end of last year, Walker said that October saw traders hit a combined $82m in profit, marking the highest ever level of combined profitability for clients at the broker.
“If you split the book between winners and losers and you just look at the mark-to-market, which is the change in equity, that’s how we consider [profitability]” said Walker. “So some of them might still be holding on to gold, but we see those figures month-to-date and they are the highest they have ever been.”
Walker also noted that the broker was on track to surpass $2trn in trading volume for October, which would also be a record for the firm.
Weird year for CFD brokers
Those claims fit with our analysis here at TradeInformer. As we reported at the end of last year, firms saw huge volumes in 2025 but struggled to monetise that flow.
We also speculated that clients simply going long gold had ended up hurting some firms, who don’t have the balance sheet to manage the level of risk they were seeing on their book.
Like IC Markets, Capital.com and XTB also reported record levels of trading volume in 2025, with much of that seemingly driven by clients going long gold.
