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FINRA Margin Debt

FINRA aggregate debit balances in customer securities margin accounts; the canonical aggregate margin-debt series, a widely watched retail leverage proxy.

The FINRA Margin Debt is currently 1,220,922, last updated .

1,220,922
1W -2.58%1M -2.58%3M -4.54%
Updated 2d ago
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Positioning data reveals what the market is actually doing, as opposed to what it says it is doing. FINRA margin debt peaked ahead of every major bear market cycle of the last 40 years, while extreme readings in the AAII bull-bear spread are classic contrarian signals. CFTC commitments of traders separates speculative from commercial flow, identifying when large specs are overextended in either direction.

Updated 2d ago

AI Analysis

Apr 19, 2026

(6) FINRA margin debt at $1.22trn (-2.6% 1M) — declining, suggesting de-leveraging.

Recent Data

Download CSV
DateValueChange
Mar 31, 20261,220,922-2.58%
Feb 28, 20261,253,192-2.02%
Jan 31, 20261,279,042+4.36%
Dec 31, 20251,225,597+0.93%
Nov 30, 20251,214,321+2.59%
Oct 31, 20251,183,654+5.07%
Sep 30, 20251,126,494+6.30%
Aug 31, 20251,059,723+3.64%
Jul 31, 20251,022,548+1.45%
Jun 30, 20251,007,961+9.45%
May 31, 2025920,960+8.28%
Apr 30, 2025850,558-3.38%
Mar 31, 2025880,316-4.12%
Feb 28, 2025918,144—

Related in Margin & Positioning

FINRA Free Credit (Cash Accounts)
FINRA free credit balances held in customer cash accounts; liquid dry-powder sitting in brokerage accounts.
FINRA Free Credit (Margin Accounts)
FINRA free credit balances held in customer securities margin accounts; the complement to margin debt within leveraged accounts.
FINRA Net Margin Debt
Margin debt minus customer free credit balances (cash plus margin); the clean net-leverage series historically used to time equity bubble peaks.

Explore Further

Forecast 2026
FINRA Margin Debt Outlook
Scenario-weighted forecast using regime implied approach.
Comparison
FINRA Margin Debt vs S&P 500 (SPY)
FINRA margin debt tracks the total dollar amount of margin lending at US broker-dealers and is one of the cleanest proxi...
Category
All Positioning & Sentiment Data
AAII and NAAIM sentiment surveys, CFTC futures positioning, and FINRA margin debt. The behavior of the marginal trader....

Frequently Asked Questions

▶What is FINRA Margin Debt?
FINRA aggregate debit balances in customer securities margin accounts; the canonical aggregate margin-debt series, a widely watched retail leverage proxy.
▶How does FINRA Margin Debt relate to margin & positioning?
FINRA Margin Debt is part of the Margin & Positioning category. Positioning data reveals what the market is actually doing, as opposed to what it says it is doing. FINRA margin debt peaked ahead of every major bear market cycle of the last 40 years, while extreme readings in the AAII bull-bear spread are classic contrarian signals. CFTC commitments of traders separates speculative from commercial flow, identifying when large specs are overextended in either direction.
▶How often is FINRA Margin Debt updated?
FINRA Margin Debt is updated once per month when the releasing agency publishes new data. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.
▶Where does Convex source FINRA Margin Debt data?
Convex sources FINRA Margin Debt data from official government and market data providers. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.
▶What can I do on the FINRA Margin Debt chart page?
The FINRA Margin Debt page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.
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Data sourced from FRED, CoinGecko, CBOE, CFTC, and EIA. Updated monthly. This page is for informational purposes only and does not constitute financial advice.