Q3 2025 was one of the quietest quarters we’ve seen in over a year, but that didn’t mean traders stepped back. If anything, this quarter showed that even when markets calm down, smart opportunities don’t disappear; they show up in different forms.

At easyMarkets, we saw traders adapt, not withdraw. While total activity softened slightly compared to Q2, interest in key markets stayed strong. Gold, silver, and Nasdaq were the standout favourites, especially during major news events

The quarter rewarded precision over prediction, which is a mindset we’ve seen steadily growing across our client base.

Gold and silver reclaim the spotlight

One of the biggest shifts in Q3 was the renewed interest in precious metals. Gold (XAU/USD) and silver (XAG/USD) were back in the spotlight as softer U.S. inflation data and rising speculation around potential Federal Reserve rate cuts pushed traders towards safe-haven assets. Gold reacted sharply during CPI and FOMC announcements, giving traders some clean short-term setups. Silver followed those moves but with even quicker reversals and shorter holding times. ‘In Q3 we noticed traders shifting from long-term conviction trades to more tactical, short-term setups,’ said Giannis Nikola, Chief Risk Officer at easyMarkets. ‘Gold and silver offered stability during a period when policy direction was unclear and overall volatility was low.’

Rather than chasing momentum, most traders used metals to balance risk and opportunity, showing a more mature, controlled approach to the markets.

Nasdaq Climbs Past EUR/USD in Client Activity

For the first time since mid-2023, Nasdaq became more traded than EUR/USD on our platform. Despite a weaker U.S. dollar, traders saw opportunity in select American tech stocks, particularly during earnings periods when short bursts of volatility offered tactical setups.This renewed appetite for U.S. indices reflected confidence in the broader equity narrative, even as traders kept exposure smaller and more controlled.

A Quarter of adjustment, not retreat

Even though volatility slowed, traders stayed active, just more selective. Across the board, we saw:

• More short-term, event-driven trades
• Less long directional exposure
• Tighter stop-losses and more structured risk management
• Smaller, more controlled positions

Clients concentrated activity around major economic releases, instead of holding longer directional positions.

The behavioral takeaway

Even when markets are calm, psychology remains the true differentiator. In Q3, we noticed a few recurring tendencies that shaped client performance:

• Overleveraging in quiet markets, with some traders increasing position sizes to compensate for smaller moves.
• Taking profits too early, particularly in gold and silver.
• Holding losing trades too long, delaying recovery.

These lessons feed directly into our ongoing educational roadmap, as we expand our webinars, seminars, and platform tips to help clients identify and correct these behavioral traps before they repeat.

Looking Ahead: What We Expect in Q4 2025

As we move towards the end of the year, we expect traders to maintain this measured, event-driven approach.

Key themes we are watching include:

• Central bank policy updates, especially from the Fed and ECB.
• Year-end liquidity shifts that often trigger short-lived volatility bursts.
• Political and geopolitical developments likely to influence commodities and FX pairs.

Q3 may have been calm, but Q4 traditionally brings more volatility, and with it, plenty of new opportunities for traders who are prepared.

Our focus remains the same: giving traders the tools, insights, and confidence they need to navigate whatever the markets deliver. Whether conditions stay steady or heat up, staying disciplined, informed, and adaptable will continue to be the strongest advantage a trader can have. At easyMarkets, we’re here to support that journey with transparent trading conditions, reliable risk-management tools, and daily insights that translate market noise into clear opportunity