Number of people trading Forex today

With the advent of the Internet and software for making transactions online, the Forex market has become accessible not only to banks and corporations, but also to ordinary users of the World Wide Web.

Today, anyone who has reached the age of 18 and has at their disposal a sufficient amount of money to open a transaction can trade on the foreign exchange market.

The popularity of exchange trading was also added by the emergence of such an asset as cryptocurrencies, some of which are also traded on Forex.

Therefore, many people have a logical question: how many traders are currently trading on the Forex currency market?

It seems that at the moment almost every second person is engaged in stock trading, including young children and very old people. Almost everyone I know has tried their hand at Forex or is still trading at the moment.

Most major brokers claim that they have a million or more trading clients, but if you count just the number of clients in the brokerage companies listed on our site, the amount will exceed 10 million.

How many people actually trade Forex?

It is quite difficult to accurately name the total number of traders, because not every market participant opens transactions every day:

But according to publicly available statistics, about 9 million traders participate in Forex trading every day, with the largest number of people coming from the following regions:

United States of America - 2,000,000 people

Europe – 1,800,000 people

Africa – 1,500,000 people

Asia – 4,400,000 people

The total comes to a figure of 9.7 million people, while there are no statistics for the countries of South America and some other regions, and this is about a billion more inhabitants.

We can say that the number of traders directly depends on factors such as the development of the Internet, the number of residents, and the popularity of stock trading in the region.

Why do brokers declare more clients than they actually have?

If we count the number of clients of the brokers presented on our website, then the sum of clients of these companies will already exceed 10 million clients. And on the website time-forex.com only a small part of the companies operating in this area is presented.

Are brokers deceiving us by indicating the number of clients?

With a high probability Yes , but not as much as it might seem at first.

There are quite a few reasons for this discrepancy in numbers:

• One trader can be registered with several brokers
• The above statistics do not take into account traders trading in the stock and commodity markets
• Not every trader opens Forex trades every day
• Some clients invest in PAMM accounts and do not open trades on their own
• Not all transactions are entered into the interbank market
• Statistics are not available for all countries

It is clear that in addition to this, all brokerage companies overestimate the number of their clients; this is done for advertising purposes. After all, 1 million clients inspires much more trust than 900 thousand.  

The rapidly increasing number of people trading Forex plays a positive role for market participants, as it increases the liquidity of exchange assets. This leads to a reduction in commissions for opening transactions and an improvement in the quality of services provided.

It is predicted that the development of the Internet and the expansion of the list of services provided by stock brokers will lead to an increase in the number of people trading Forex to 15 million per day by 2030.