UK CFD traders flocked to gold during the second quarter of 2026 as geopolitical tensions and volatile commodity markets drove demand for safe-haven assets, according to new trading data from Capital.com.
The FCA-regulated online trading platform reported client trading volumes of $1.13 trillion between April and June, with gold accounting for 42.4% of all trading volume, making it the platform’s most actively traded market by a significant margin. Despite total trades falling 23% quarter-on-quarter to 34.9 million, the average trade size increased 16% to more than $32,400, suggesting traders were placing fewer but larger positions.
According to Capital.com, which was recently voted “Best CFD Broker” in the 2026 Good Money Guide Awards, trading activity reflected three distinct phases during the quarter. Commodity markets dominated in April following disruption to shipping through the Strait of Hormuz, pushing traders towards gold and oil. As tensions eased in May, attention shifted back to equities, particularly technology stocks, before June saw increased volatility across US equity markets as gold prices retreated from record highs.
The US Tech 100 was the platform’s second most traded instrument, with index trading accounting for 25.9% of trading volume, followed by WTI Crude Oil (7%), the Dow Jones 30 (4.8%) and the DAX 40 (4%). Silver also gained popularity throughout the quarter as precious metals remained firmly in focus.
Kyle Rodda, Senior Market Analyst at Capital.com, said traders adapted quickly as market conditions evolved.
“The Strait of Hormuz disruption in April concentrated activity in energy and gold markets. As the situation eased, we saw activity rotate toward equity indices following strong US technology earnings, with that trend continuing into June.”
The regional breakdown also highlighted different trading preferences. The Middle East generated 57.2% of all platform volume, with almost half of trading focused on gold, while UK traders showed a stronger preference for equities, with the US Tech 100 representing 40% of domestic trading activity compared with just 13.8% for gold.
Capital.com also reported an increase in the use of stop-loss orders, with 26.6% of positions protected by predefined exit levels, up from 22.4% in the first quarter. The broker said the trend reflects growing adoption of structured risk management among retail traders, although it noted that stop-loss orders cannot always prevent losses during fast-moving markets.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
