This pair saw a significant jump from 2010 to 2013 but has since settled to a stable share of around 13.5% in 2022. Known as the “majors” because they involve the currencies of the world’s largest and most influential economies, these currencies are typically characterised by high liquidity and low spreads. The UK is the leader in terms of trading volume, which peaks during the London trading session. The New York session emerged as US markets grew in significance, with Wall Street being a financial hub since the late 18th century. In 1792, the New York Stock Exchange (NYSE) was established, making it the oldest stock exchange in the United States. It is presently managed by ICE Data Indices, a Intercontinental Exchange (ICE) subsidiary.
Despite the US dollar experiencing a fall following its big rally in 2022, it still remained the most traded currency in 2023, contributing to a significant increase in Forex volatility in 2023. In a survey published by eToro, one of the biggest names in the Forex sector, for the Q1 of 2023, Forex trades surged to 19%, marking a significant year-to-year jump from 9% reported for Q1 of 2022. The most traded currency in the Australian FX market is the US dollar – which is found at either end of 93% of trades.72AFXC, “Foreign Exchange Turnover Report”, accessed June 30, 2020. The UK is the largest hub of the forex market, with a 43% share of the entire global turnover. In 2016, the UK’s share of the global turnover was 37%.60Bank of England, “BIS Triennial outsourcing de desarrollo de software Survey of Foreign Exchange”, accessed June 30, 2020.
- Another development in the forex market has been the increasing importance of emerging market currencies, such as the Chinese yuan and the Indian rupee.
- JPY/AUD average daily turnover rose from $24 billion in 2010 to $37 billion in 2022, while their percentage share decreased from 0.6% to 0.5%.
- The forex market is also highly competitive, with many different brokers offering a wide range of trading platforms, tools, and services.
- Cryptocurrencies have already had an effect on the foreign exchange market, and will continue to have an ever-increasing role as the years go by.
- According to data published by VT Markets, a global multi-asset CFD broker, Asia is the region with the highest number of online Forex traders, with 3.2 million Asian investors trading currency pairs.
Key Historical Events in Forex Trading
The Forex market is the largest and most liquid asset market on earth.5BIS, “BIS Quarterly Review”, accessed June 27, 2020. Eventually, the budget and trade deficits of the US, as well as its dwindling gold reserves, led president Richard Nixon to abandon the Bretton Woods system in 1971. By 1973, the modern form of Forex trading had already taken shape.
Forex Currency Pairs Statistics
Although the broader market has experienced a variety of unexpected, negative effects due to the COVID-19 pandemic, the Forex market has remained relatively unscathed – at least for now. In fact, the volume of trading has increased due to the volatility that the pandemic has brought on. In 2025 we have made a list of the most searched term for each country and the average search volume over 2025 to indicate the popularity of trading forex. 85% of traders use MetaTrader 4, making it the most popular platform worldwide, while MT5 is used by 6% and ranks second.
General Forex Statistics
Volatility spiked, particularly in major currency pairs like EUR/USD and GBP/USD. Heightened activity led to a surge in trading volumes, reaching a staggering $6.6 trillion in 2020, up from $5.1 trillion in 2016. The history of forex trading software dates back to 1996 when the first trading platforms were introduced to retail investors, allowing them to participate in fx markets for the first time. Following the introduction of retail traders to fx markets, MetaQuotes began releasing software designed for non-professional traders.
The Brazilian real (BRL) and Mexican peso (MXN) lead the Latin American pack driven by regional economic conditions as well as commodity prices. In the Middle East, oil prices significantly influence the Kuwaiti dinar (KWD) and Saudi riyal (SAR), given that the oil signs that you are not meant to be a programmer export dependency of the regional economy ties directly into the pricing of oil. Currency pairs depict the value of one currency against another. I have compiled an exhaustive list of exciting forex statistics that you will love to learn. The growth rates were more prominent in developing nations, as Africa, Eastern Europe, and Southeast Asia comprised 60% of the new trading accounts. Asian traders account for 12.1%, Latino traders for 11.1%, and Black traders for only 5.4% of the total.
A majority of the traders (52.6%) rely on news sites as part of their core trading strategy. Case studies, e-books and white papers are complementary as part of the education process. If you trade Forex or if you are considering taking the opportunity to do so, the main Forex industry stats for 2020 should be an important part of your decision-making process.
This means that traders and investors can buy and sell currencies at any time, and the market will always be able to accommodate their trades. They are actively involved in the Forex market for the management of currency risk or investment in foreign currencies with a view to diversification. Nonfinancial customers include corporations and businesses engaged in international trade and service providers. These customers use the Forex market mainly to hedge foreign exchange risks and facilitate cross border transactions.
Forex Demographic Statistics
- In conclusion, the forex market is worth approximately $6.6 trillion per day, making it the largest financial market in the world.
- In 2016, the UK’s share of the global turnover was 37%.60Bank of England, “BIS Triennial Survey of Foreign Exchange”, accessed June 30, 2020.
- The most up-to-date statistics on the global forex market, including worldwide turnover, average daily turnover, the most commonly traded currency pairs, the largest brokers, and more.
- The majority of the traders we surveyed risk less than 5% of their overall budget on trading Forex.
MT5, on the other hand, can claim only 2 million traders and is offered by just 20% of brokers. According to the most recent edition of Investment Trends, Australia has the largest penetration of CFD/FX trading in the world on a per-capita basis. In 2021, over 100,000 Australians executed one or more FX or CFD transactions.
That said, 47% of traders have not purchased any materials to help them in their trading endeavors in the last 12 months. Morgan managed to stay in the top position, still keeping the biggest market share among other major banks actively participating in the global Forex market. With a market share of 11.41%, the bank took the first place in the ranking, followed by UBS (10.2%), Deutsche Bank (8.49%), XTX Markets (6.69%), and Citi (6.18%). Morgan was the leading Forex market trading service entity, with a market share of 10.78%. The major bank maintained its position from the previous year when it had the biggest market share among the remaining banks participating in the global Forex market.
Another factor that contributes to the forex market’s size is the accessibility of trading. With the advent of online trading platforms, anyone with an internet connection can trade forex. This has led to an increase in the number of retail traders in the market, which has also contributed to the market’s liquidity. The forex market also provides opportunities for investors to diversify their portfolios. Investors can trade currencies to hedge against currency risk or to take advantage of exchange rate fluctuations.
It shows the four primary trading sessions, being Sydney, New York, London, and Tokyo, each of which corresponds to a major financial hub, as well as the current average trading volume. Forex trading can be profitable, but it is important for traders to manage their risk and have realistic expectations. Many traders enter the forex market with the expectation of making a quick profit, but this is not always the case. Forex trading requires discipline, patience, and a willingness to learn.
Only 24% of traders are older than 55, and only 9% are older than 65. Men make up 89% of all forex traders worldwide, while only 11% of traders are women. A study by Warwick Business School found that women outperform men by 1.8%, due to a preference for long-term strategies over short-term risk. The majority of people making forex trades – 3.2 million in total – live in Asia, followed by Europe and North America, which Narrative and Numbers claim 1.5 million each. Africa boasts 1.3 million forex traders, and the Middle East 1 million.