Q4 2025 Trader Client Sentiment Survey
A quarterly study exploring the outlooks, expectations, trading patterns and points of view of clients at Charles Schwab–who actively trade equities or trade options, futures, or forex.
Key findings
- Trader sentiment remains positive: 57% of retail traders feel bullish about market performance this quarter.
- The market may be overvalued: About two-thirds of traders feel the market is currently overvalued as AI stocks remain the “most crowded” trade, followed closely by Mega-Cap Tech stocks.
- Political concerns are still high: One in five traders (21%) report concerns about a market correction or volatility, though the political landscape in Washington, D.C. remains traders’ top investing concern.
- Sticking with the classics: Roughly a quarter of traders report investing in gold (27%) and crypto (23%) due to their market expectations, but more (42%) are moving assets into the stock market and/or engaging in options hedging (32%).
About the survey
The Charles Schwab Trader Sentiment Survey is a quarterly study exploring the outlooks, expectations, trading patterns and points of view of clients at Charles Schwab–who actively trade equities or trade options, futures, or forex. The study included 1,070 Active Trader clients at Charles Schwab and was fielded from Sept. 30 – Oct. 10, 2025.
Media Contact: Margaret Farrell
More Trader Client Sentiment surveys
Discover related stories
Industry
The sole of IMPACT: Fun sneakers signal a fresh, modern RIA industry
Danny Rubin’s custom kicks stole the show at the RIA IMPACT conference, a sign that the advisor world is loosening its laces.
Financial Literacy
Investing and gambling can both be fun. But they are not the same.
Recent trends are making it harder to distinguish between investing and gambling, but it’s vital to understand the differences.
Industry
Why investing in a public company is different and why it matters
Jonathan Craig explains how owning part of a public company means investing in a model designed to deliver returns to you, the shareholder, over time.
1025-28TK