Forex trading is a global phenomenon that has attracted millions of traders from all corners of the world. With the rise of online trading platforms and the easy accessibility of the internet, the number of forex traders in the world has increased exponentially in recent years.
According to a report by the Bank for International Settlements (BIS), the daily average turnover in the global forex market was $6.6 trillion in 2019. This staggering figure indicates the immense popularity and size of the forex market, and it is no surprise that the number of traders participating in this market is also increasing.
However, it is difficult to estimate the exact number of forex traders in the world as there is no central authority that keeps track of this data. There are many factors that contribute to the difficulty in obtaining accurate statistics, such as varying definitions of what constitutes a “forex trader” and the fact that many traders operate anonymously.
Despite these challenges, there are some estimates available that can shed light on the number of forex traders in the world. One such estimate comes from the retail forex brokerage industry, which provides trading platforms and services to individual traders.
According to a report by Finance Magnates, the number of active forex traders worldwide was around 9.6 million in 2019. This figure includes both retail and institutional traders, but the vast majority of them are retail traders.
Retail traders are individuals who trade forex using their own capital, rather than managing funds for an institution. They typically trade through online platforms provided by retail forex brokers, which offer access to the global forex market and a range of trading tools and services.
The Finance Magnates report also reveals that the Asia-Pacific region is the largest market for retail forex trading, accounting for around 32% of the total number of active traders. Europe and North America follow closely behind, with 31% and 29% respectively.
Another estimate of the number of forex traders in the world comes from the Global Forex Survey conducted by Forex Brokers in 2019. This survey polled over 5,000 forex traders from around the world and found that the majority of them were based in Asia.
According to the survey, 43% of the respondents were from Asia, followed by 26% from Europe, 16% from North America, and 8% from Africa. The remaining respondents were from South America, the Middle East, and the Pacific.
The survey also found that the majority of forex traders were male, with 80% of the respondents identifying as male and 20% as female. The average age of the respondents was 38 years old, with the majority falling between the ages of 25 and 44.
Overall, while it is difficult to obtain precise figures on the number of forex traders in the world, the available estimates suggest that the market is growing rapidly and attracting more participants every year. With the advent of new technologies and the increasing accessibility of the internet, it is likely that this trend will continue and the forex market will become even more popular in the years to come.
