easyMarkets Reports More Cautious Trading as Gold and Oil Lead Q2 Activity

Retail trading on easyMarkets' platform turned more defensive in the second quarter of 2026, as geopolitical tensions and mixed macroeconomic signals pushed clients toward a smaller number of core markets and stricter risk management, according to the broker's quarterly trading review.

Gold retained the top spot as the most traded instrument on the platform during Q2, with crude oil and US stock indices rounding out the top three. Despite gold's leading volumes, overall activity moderated compared with both Q2 2025 and the first quarter of 2026. Clients traded more selectively, favoring short-term opportunities while keeping exposure in check.

Oil Emerges as the Quarter's Defining Market

Oil, though second in overall volumes, was a major source of attention during the quarter. Heightened geopolitical tensions in the Middle East, especially concerns around the Strait of Hormuz, drove sharp price swings and increased energy-market participation. Still, traders held back from aggressive risk-taking, keeping positioning measured despite the volatility.

Giannis Nikola, easyMarkets' Chief Risk Officer, said the quarter was defined less by any single market and more by how clients approached risk. He noted that traders were more selective, reduced overall exposure and leaned more heavily on stop-loss orders as geopolitical events and macro uncertainty made sustained directional moves harder to identify. He described the behavior as evidence that retail traders are increasingly prioritizing discipline and capital preservation while staying ready to act when opportunities appear.

The cautious mood also shaped strategy choices. Day trading remained the preferred approach throughout Q2, allowing clients to react to short-term moves without carrying overnight risk. The broker recorded greater use of stop-loss orders as traders sought to define downside before entering positions, and overall exposure levels stayed conservative.

Looking to Q3, easyMarkets expects inflation data, interest rate expectations and geopolitical developments to remain the primary drivers of market sentiment. The broker sees no clear sign yet of a sustained directional trend and regards energy markets and global equity indices as key sectors to monitor.

The broker, founded in 2001, said it continues to focus on transparent trading conditions and risk management tools for clients. easyMarkets offers more than 275 tradable instruments, fixed spreads and round-the-clock weekday support, according to the company.