Forex trading has become one of the most popular forms of investment in the world today. In an effort to capitalize on this trend, many forex brokers are popping up every day. With the increasing number of forex brokers, it is only natural to wonder how many people open an account with a forex broker every day.
Unfortunately, there is no clear answer to this question. This is because forex brokers do not release the exact number of people who open an account with them daily. However, we can make some educated guesses based on the available data.
To begin with, we can look at the overall growth of the forex market. According to a report by the Bank for International Settlements (BIS), the forex market saw a daily turnover of $6.6 trillion in 2019. This represents a 29% increase from the previous survey conducted in 2016. The report also noted that the increase in turnover was driven by a rise in trading activity from non-financial customers, such as retail traders.
This increase in trading activity is likely to have led to a corresponding increase in the number of people opening forex trading accounts with brokers. In fact, a report by Finance Magnates estimates that the number of retail forex traders in the world reached 9.6 million in 2019. This represents a 10% increase from the previous year.
It is also worth noting that the popularity of forex trading has been further boosted by the rise of mobile trading platforms. According to a report by Statista, the number of smartphone users in the world is projected to reach 3.8 billion in 2021. This presents a massive opportunity for forex brokers to attract new customers through mobile trading apps.
Another factor that could be contributing to the growth in the number of forex traders is the increasing availability of educational resources. Many brokers now offer a range of resources, such as webinars, tutorials, and trading signals, to help new traders learn the ropes.
In conclusion, while we cannot say for sure how many people open a forex trading account with a broker every day, it is clear that the overall trend is one of growth. The increasing popularity of forex trading, the rise of mobile trading platforms, and the availability of educational resources are all factors that are likely to continue driving this growth in the years to come.
