SEBI-sourced · Updated July 2026 · Free to cite with attribution
India F&O Trading Statistics: What SEBI's Data Actually Shows
Every number below comes from published SEBI studies — India's market regulator. No estimates, no vendor surveys. Sources linked at the bottom.
91%
of individual F&O traders in India lost money in FY25[2]
Net losses, FY25
₹1.06 L cr
+41% vs FY24
₹1,05,603 crore after costs
Losses, FY22–FY24
₹1.8 L cr
93% of 1 crore+ traders lost
Average loss, FY25
₹1.1 lakh
per individual trader
Earned over ₹1 lakh
1 in 100
traders, after costs (FY22–24)
Losses are getting bigger, not smaller
Net losses of individual traders in equity derivatives rose 41% year-on-year — from ₹74,812 crore in FY24 to ₹1,05,603 crore in FY25 — even as the number of unique traders fell from 61.4 lakh in Q1 FY25 to 42.7 lakh in Q4 after SEBI's tightening measures.[2] Fewer traders, deeper losses.
Net losses of individual F&O traders (₹ crore)
Who is on the other side of the trade
In FY24, proprietary trading desks and foreign portfolio investors booked ₹33,000 crore and ₹28,000 crore in gross profits respectively, while individuals and others lost over ₹61,000 crore gross. 97% of FPI profits and 96% of proprietary profits came from algorithmic trading.[1]
FY24 gross trading P&L by participant
The loss rate barely moves
Three separate SEBI studies, one consistent answer: roughly 9 out of 10 individual derivatives traders lose money.
The numbers behind the headline
Top 3.5% of loss-makers
₹28 lakh
average loss per person, FY22–24 (~4 lakh traders)
Transaction costs, FY22–24
₹50,000 cr
spent collectively — 51% brokerage, 20% exchange fees
Transaction costs per trader
₹26,000
average spent on F&O costs in FY24 alone
Loss-makers who keep trading
75%+
continued despite consecutive years of losses
Traders under 30
43%
up from 31% in FY23
share of F&O traders in FY24
From beyond top-30 cities
72%
of the F&O trader base (B30 cities)
Declared income under ₹5 lakh
75%+
of individual F&O traders in FY24
Unique traders, FY25
61.4L → 42.7L
Q1 to Q4 decline after SEBI measures
All figures: SEBI.[1][2] Cumulative FY22–FY25 net losses ≈ ₹2.86 lakh crore (₹1.8 lakh crore FY22–24 + ₹1.06 lakh crore FY25 — computed from SEBI figures).
The most expensive statistic is behavioral
More than 75% of loss-making traders kept trading after consecutive losing years.[1] The loss rate has stayed near 90% across every study period — which suggests the problem is not access to information but behavior under risk: position sizing after losses, revenge trading, and overtrading.
That gap — between knowing the odds and acting on them — is measurable in an individual's own trade history. It is the reason trade journaling exists as a practice: not to predict markets, but to see your own patterns.
Citing this page
Journalists, bloggers, and researchers: all statistics here are from public SEBI documents and free to reuse. If this compilation saved you time, cite it as:
Frequently asked questions
What percentage of F&O traders lose money in India?
According to SEBI’s July 2025 study, over 91% of individual traders lost money in the equity derivatives (F&O) segment in FY25. SEBI’s September 2024 study found 93% of over 1 crore individual traders lost money across FY22–FY24, and its January 2023 study found 89% lost money in FY22. Across three separate SEBI studies, roughly 9 out of 10 individual F&O traders lose money.
How much money did Indian retail traders lose in F&O in FY25?
Individual traders lost a net ₹1,05,603 crore (about ₹1.06 lakh crore) in the equity derivatives segment in FY25, after transaction costs — a 41% increase over the ₹74,812 crore lost in FY24, per SEBI. The average individual trader lost about ₹1.1 lakh in FY25.
Who actually makes money in Indian F&O markets?
SEBI’s FY24 analysis found proprietary traders booked ₹33,000 crore and Foreign Portfolio Investors ₹28,000 crore in gross trading profits, while individuals and others lost over ₹61,000 crore gross. 97% of FPI profits and 96% of proprietary trader profits came from algorithmic trading.
Do losing traders stop trading F&O?
Mostly no. SEBI found that despite consecutive years of losses, more than 75% of loss-making traders continued trading in F&O. This persistence despite losses is a behavioral pattern — the gap between knowing the odds and acting on them.
Can I cite these statistics?
Yes. All figures on this page come from published SEBI studies and press releases (linked in the sources section). You are free to cite this page with attribution — a link to cernoquant.com/statistics.
Sources
- SEBI Press Release PR No. 22/2024 — "Analysis of Profits and Losses in the Equity Derivatives Segment (FY22–FY24)", September 23, 2024
- SEBI Study — "Comparative Study of Growth in Equity Derivatives Segment vis-à-vis Cash Market After Recent Measures", July 2025 (via SEBI Research)
- SEBI Study — "Analysis of Profit and Loss of Individual Traders dealing in Equity F&O Segment", January 2023
Figures verified against SEBI publications on July 11, 2026. FY25 participation and loss figures as reported in SEBI's July 2025 study and the Ministry of Finance's December 2025 Lok Sabha reply.
See your own statistics
CernoQuant is a trading journal that computes these same patterns — loss streaks, costs, behavior after losses — from your own trade history, synced from 43+ brokers.
Start journaling freeCernoQuant is a trade journaling and analytics platform, not a SEBI-registered investment advisor. This page is educational information compiled from public regulatory sources; nothing here is investment advice or a recommendation to trade or avoid any instrument.