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India ranked first in FM Intelligence's Q3 2026 Heat Map for FX and CFD interest, even though its own portion of the measured attention slipped slightly. The rankings describe audience interest, not confirmed customer acquisition.
Europe and APAC expand their lead
Europe represented 42% of interest in Q3, compared with 39.7% in Q2, a gain of 2.3 percentage points. APAC also advanced, reaching 30.5% from 29.3%. The distance between the two regions widened to 11.5 percentage points, up from 10.4 percentage points in Q2.
Combined, Europe and APAC accounted for 72.5% of the total, against 69% in the previous quarter. The figures point to a greater concentration of measured interest in those two regions, even as other parts of the world also grew.
North America gives up share
North America recorded the quarter's sharpest change: its share dropped to 14% from 19.9%, a loss of 5.9 percentage points. In Q3, Europe's portion was precisely triple the North American figure. No other region recorded a decline.
Smaller markets also gained share
MENA moved to 4.1% from 3.7%. Africa stood at 4.7%, up from 3.8%, while Latin America reached 4.7%, against 3.6%. Together, these three regions represented 13.5% of interest, compared with 11.1% in Q2.
The regional figures show where audience interest shifted, but do not explain the causes. They also cannot establish whether online attention becomes customer acquisition, as Finance Magnates reported.
What an operations team should check
Treat the heat map as a signal to compare with internal funnel data, not as a measure of funded or active customers. Check whether sessions, completed applications, funded accounts and active trading show a similar regional pattern across Q2 and Q3. The report does not provide country-level volumes, conversion rates or infrastructure requirements.
Before changing regional support coverage, onboarding or broker integrations, ask whether internal data supports the same shift. If a change is being considered, product and risk teams can assess whether local onboarding, payment, KYC or reporting workflows need attention. The regional percentages alone do not answer those questions.
