In the first half of 2025, global financial markets were turbulent, with frequent macro events and highly divided market sentiment. London spot gold recorded an epic 25.7% increase, marking its largest half-year gain since 2007, and briefly surpassed USD 3,500 per ounce in April, becoming the most closely watched asset among retail traders.
Geopolitically, the escalating situation in the Middle East and the ongoing Russia-Ukraine conflict continued to heighten risk-aversion sentiment. In the U.S., Trump's sudden "reciprocal tariffs" policy, along with the Federal Reserve's pause on interest rate hikes and the release of dovish signals, strengthened market expectations of liquidity returning.
Meanwhile, the Bank of Japan unexpectedly raised interest rates to 1%, triggering a wave of carry trade unwinding and leading to a temporary strengthening of the yen. In this context, global traders’ risk appetite and trading structures underwent significant adjustments.
Followme has officially released its 2025 Mid-Year Trading Report, which provides a comprehensive analysis of key changes and underlying trends among global users in the first half of the year, based on real trading data from 17,727 active accounts. The report covers multiple dimensions, including account performance (profits and losses), trading behavior, capital flow, and asset preferences, revealing key insights such as: consistent outperformance in copy trading, a rational approach to gold trading, and caution in capital flows.
Better Win Rates and Stronger Performance in Copy Trading.
Followme's number of trading accounts over the last three years.
In the first half of 2025, the Followme trading community reached a total of 17,727 active accounts, with an average win rate of 67.6%, a 2.5% increase compared to 65.1% in the same period of 2024.
The average profit for profitable accounts was USD 36.41, while the average loss for losing accounts was USD 72.02, maintaining a win-loss ratio of 1:2, consistent with the same period in 2024.
Distribution of Investors by Types (%)
P&L Performance by Account Types
Among Followme’s three account types—self-directed trading, copy trading, and signal providers—copy trading accounts were the most stable, with 47.27% of them achieving net profits and an average net gain of USD 322. In contrast, the average loss for self-directed traders is USD 3,236, highlighting a significant performance gap.
It is worth noting that signal providers also posted an average loss of USD 1,297. This further demonstrates that while copy trading overall outperforms self-directed trading, the key is choosing the right signal providers. Only by following high-quality, stable signal providers allow ordinary investors effectively avoid subjective emotions and technical barriers, achieving more consistent and robust investment returns.
Average Trading Volume by Account Types
*Copy Trading Accounts: Only accounts that both follow the opening and closing of trades are counted.
The average trading volume for signal accounts is 88 lots, significantly higher than other account types. This indicates that signal providers tend to adopt high-frequency, aggressive trading strategies. In contrast, self-directed trading accounts show relatively weaker performance, with an average of only 12 lots. Their overall trading frequency is lower, reflecting a more dispersed approach to strategy selection and possibly limited by technical skills and trading confidence.
An increase in Capital Retention could reflect a sign of trading losses.
Comparison between Deposit and Withdrawal Amounts
In the first half of 2025, the total deposits of all active Followme accounts amounted to USD 195 million, experiencing minimal change compared to the same period in 2024. The average deposit per account was USD 11,058. Total withdrawals amounted to USD 149 million, representing a 7% year-on-year decrease, with an average withdrawal of USD 7,867 per account.
Among all accounts with deposit activity, 67.47% of users were net depositors (i.e., deposits exceeded withdrawals), while only 29% were net withdrawers. Approximately 3.35% of accounts had deposits and withdrawals that were roughly equal.
On the surface, this could be interpreted as traders preferring to keep their funds within the platform, awaiting opportunities amid increasing macroeconomic uncertainties. However, a deeper analysis of profit and loss reveals that many net deposit accounts are actually in a loss position. These accounts often experience significant capital erosion, resulting in insufficient balances to support effective withdrawals, or they are forced to continually add funds due to frequent losses. Therefore, the decline in withdrawals is more likely driven by losses in these accounts.
The distribution of accounts by deposit amount shows a higher proportion of small- to medium-sized capital accounts, while accounts with large capital are relatively fewer.
Distribution of Accounts by Deposit Amount (%)
Distribution of Accounts by Withdrawal Amount (%)
From the perspective of account structure, small-capital accounts (≤ USD 1,000) continue to be the main user base on the platform, accounting for more than half of all accounts. However, these accounts have limited capital and weaker risk tolerance, making them highly vulnerable to trading losses that can lead to an inability to make effective withdrawals. They represent a typical group of “passive fund retention.”
In contrast, although mid- to high-capital accounts make up a smaller proportion, they demonstrate greater capital stability and trading resilience. Notably, large accounts with balances above USD 10,000 exhibit relatively low volatility in overall fund flows, reflecting stronger risk management capabilities and strategic awareness.
Withdrawal Behavior Indicate Strategy Outcomes.
Followme users’ net withdrawal behavior (W = Deposits − Withdrawals) exhibits a highly structured pattern, reflecting the psychological responses and strategic behaviors of different types of traders under profit and loss conditions.
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Withdrawal Range (W)
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Percentage
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Behavioral Indicators
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Strategic Implications
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W<-10,000
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2.84%
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Extreme loss avoidance
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Risk control failure/Redundant loss control
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-10,000≤W<-5,000
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5.46%
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Heavy loss reduction
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Systematic breakdown; Ineffective loss control
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-5,000≤W<-1,000
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6.64%
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Medium loss recovery
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Defensive posture, Partial risk aversion
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-1,000≤W<0
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17.57%
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Slight loss maintenance
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Loss aversion (Reluctance to cut losses)
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W=0
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3.35%
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Capital inertia
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Inactive trading; Observation or suspended strategies
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0<W<1,000
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41.44%
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Micro profit withdrawal
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Conservative profit-taking
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1,000≤W<5,000
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16.51%
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Stable profit withdrawal
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Disciplined profit-taking; Moderately successful execution
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5,000≤W<10,000
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4.07%
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Significant profit harvest
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Strategy effectiveness in defined phases
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10,000≤W
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2.13%
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Large profit realization
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High-level execution and strategic maturity
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About one-third (32.5%) of accounts are in a net loss position, with over 8% classified as deep loss accounts (net withdrawals below USD -5,000), indicating that some users are facing severe capital drawdowns and strategy failures.
In contrast, nearly 20% of accounts have achieved steady profitable withdrawals (net withdrawals above USD 1,000), among which 2.13% have realized substantial profit cash-outs, demonstrating clear strategy execution and risk control capabilities.
Significantly, the largest group consists of small-profit cash-out users (0<W<1,000), accounting for 41.44%. These users tend to take modest profits and trade cautiously, representing the most stable traders with strong compounding potential.
Beyond Frequency: Evaluating Efficiency in Self-directed Trading vs. Copy Trading
Comparison of Trading Volume: Self-directed Trading vs. Copy Trading
In the first half of 2025, a total of 15,246,746 trades were executed across all MT4 accounts in the Followme trading community, averaging 120,053 trades per day. Of these, the ratio of self-directed trades to copy trades was approximately 4:1.
Although self-directed trades accounted for 80% of total trade volume, copy trading accounts demonstrated significantly better profitability, with 47.27% of copy trades ending in profit, clearly outperforming self-directed trading. This phenomenon of “high trading volume, low efficiency” highlights a common tendency among trader toward overtrading.
This structure reflects a broader industry trend: trading frequency is not the key to profitability. In fact, low-quality high-frequency trading is often a major contributor to losses.
XAU/USD Continues to Lead Trading Activity; Losses Sharply Reduced
In the first half of 2025, a surge in global risk-off sentiment, combined with a weakening U.S. dollar, drove gold prices to historic highs, making it the most closely watched trading asset in the market. As a result, XAU/USD trading activity on Followme continued to rise, with 14,817 accounts participating in XAU/USD trades. The pair recorded a total trading volume of 1,052,849 lots and 9,426,519 trades, accounting for 85.7% of all trades on the platform.
Total losses from XAU/USD trades amounted to USD 15,529,123, representing a 60% decrease compared to the same period in 2024 (USD 38,600,831). The average loss per account also fell to USD 1,048, down 38% from USD 1,693 in H1 2024.
These figures suggest that traders have become more rational and disciplined in their approach to highly volatile markets, no longer engaging in blind heavy-position trading. While gold remains a “star asset” due to its strong appeal, users are now demonstrating greater risk awareness, opting for more measured and structured participation in high-interest instruments.
Winners Trade Smart and Act First: Frequency and Positioning Make the Difference
P&L Performance by Account Types
Profitable accounts achieve excess returns through higher-frequency trading (+25.3% more orders) and larger position sizes (+62.7% more lots). This indicates that profitable traders tend to employ more strategic approaches rather than conservative, defensive styles. Their trading systems demonstrate stronger execution capability and sustainability.
Losing accounts outnumber profitable accounts by a factor of 2.1, yet the average loss per losing account exceeds the average profit per winning account by just 8.5%. This suggests that most losses stem from frequent small stop-losses rather than occasional large single losses.
It is important to emphasize that not all high-frequency trading is efficient. Many losing accounts suffer from frequent blind trading and lack of strategy. In contrast, truly profitable accounts combine higher frequency with larger positions, executing precise trades to seize market opportunities, supported by a clear execution framework that builds sustainable returns.
Losing accounts outnumber profitable accounts by a factor of 2.1, yet the average loss per losing account exceeds the average profit per winning account by just 8.5%. This suggests that most losses stem from frequent small stop-losses rather than occasional large single losses.
It is important to emphasize that not all high-frequency trading is efficient. Many losing accounts suffer from frequent blind trading and lack of strategy. In contrast, truly profitable accounts combine higher frequency with larger positions, executing precise trades to seize market opportunities, supported by a clear execution framework that builds sustainable returns.
Overall, the first half of 2025 presented significant challenges and opportunities amid global market turbulence. Data from the Followme trading community shows that, in real trading environments, copy trading benefits from the externalization of strategies to achieve higher win rates, while a trend toward more rational trading of popular assets like gold is emerging. By analyzing real account data, we can better identify high-quality signals, user structures, and strategic behaviors, further advancing the trading community toward professionalism and intelligent trading.
风险提示：以上内容仅代表作者或嘉宾的观点，不代表 FOLLOWME 的任何观点及立场，且不代表 FOLLOWME 同意其说法或描述，也不构成任何投资建议。对于访问者根据 FOLLOWME 社区提供的信息所做出的一切行为，除非另有明确的书面承诺文件，否则本社区不承担任何形式的责任。
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