Born2trade CEO: “Everything is about gold now. Gold traders dictate industry standards and features”
Gold has lost about 24% of its value since January, yet retail traders are more focused on the metal than ever, with 70-90% of clients trading gold according to Born2trade CEO.
Gold trades around $4,100–4,200 an ounce, roughly 24% below the record near $5,600 it set at the end of January, according to CIBC Capital Markets. The Federal Reserve is raising rates, not cutting them. By the old textbook, this should be a quiet time for gold.
However, it is not. In more than 25 years in brokerage and trading, Born2trade CEO Konstantin Rashap has rarely seen retail clients this concentrated on one instrument. Between 70% and sometimes 90% of retail clients trade gold, a fact no broker can afford to ignore.
Market Concentration
The concentration on gold reflects a lack of trust in broader markets and investment instruments amid geopolitical events, the war in Ukraine, uncertainty in the Middle East, and persistent inflationary pressure since COVID.
I read the total concentration on gold as a lack of trust in broader markets and investment instruments.
Central banks bought 345 tonnes of gold in the first half of 2026, according to World Gold Council data, and gold-backed ETFs attracted a record $30.7 billion in the third quarter.
Gold's Uncertain Value
Gold has no P/E ratio or obvious floor, making valuation difficult. It can cost anywhere from $1,000–3,000 to $4,000–6,000 and higher. January showed how quickly sentiment can turn when gold set a record of about $5,595 an ounce on January 29, then fell more than 9% the next day after Kevin Warsh was named as the next Fed Chair.
Rashap expects gold to remain one of the most actively traded assets through the end of 2026 and likely through 2027, fluctuating between $3,000 and $6,000 over a one-year horizon. CIBC forecasts $4,500 for the fourth quarter and an average of $5,200 in 2027.
Broker Adaptation
For brokers, the lesson is simple: the market and traders dictate what matters. A broker must listen to its clients and build every development around their needs. Active gold traders demand flexibility in deposits, withdrawals, trading conditions, and leverage.
Money movement must be fast, with crypto deposits and withdrawals being the most efficient. Trading conditions must allow holding positions at low cost and reacting quickly. Brokers are now competing on overnight swap costs, leverage options, and loyalty schemes rather than just spreads.
In turbulent markets, traders should choose brokers they feel comfortable with, prioritizing those regulated by Tier-1 and Tier-2 authorities for stronger investor protection. Group reputation and management transparency are also crucial factors.
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