Forex trading is becoming easier day by day. Nowadays you need just an internet connection to go on even if you don’t need computers. Thanks to brokers and simplified trading platforms now you can trade forex in the comfort zone of your home anywhere on your mobile.
The figure for internet users globally is really surprising; it’s about 3.8 billion. Out of these 1 in every 213 is an online forex trader.
How many people trade forex?
According to a rough estimation, about 10 million people trade forex today. Out of this, 9.6 million are online traders, 89.1% of traders are male, while 10.9% are female. Moreover, 3.2 million traders belong to Asia and 1.5 million are from Europe and North America.
The average trading volume of this financial market is increasing due to the growing interest of traders. According to estimation, there will be 13.9 million online traders in 2021. This number will surely boost in the upcoming days.
How many people trade forex successfully
The question of how many people trade forex successfully is far more important than others. The increasing importance of online earning has diverted the attention of millions of people on forex.
It does not mean that all of them are successful traders and all of them are still trading. Many join trading games and leave this risky world after a first-time loss. For this reason, the percentage of successful traders is quite low.
Unfortunately, only 10% of traders succeed in making a continuous profit. About 90% of retail traders fail every year. Some FX stats even say that the number of unsuccessful traders is even more than 95%. The major reason is the volatile nature of this money market.
How many forex traders are there in the World
Forex is becoming legal fastly in many countries of the world. With the invention of e-platforms, many traders are now joining this financial market globally. It is hard to claim that there is no trader in a country where forex is legal. Wherever it is legal, the number of traders is increasing day by day.
If we count forex traders worldwide, the total number of traders in 2022 is 10 million. If we divide this 10 million into countries, Asian traders contribute 3.2million, European 1.5million, Americans 1.5million, 3.1 million Africans, and 280,000 online traders from the UK.
How many Traders Trade Forex in the USA
Since the 1970s, the forex market has been popular in the USA. With online trading platforms individuals, traders started taking more and more interest in forex. Thanks to brokers who simplified forex trading and made it available for everyone.
There are about 320 million internet users in the US. Out of which 1 in every 213 is an online trader. According to research conducted by Aite Group in 2014 up to a quarter of US adult internet users could be online traders.
There are more than 2 170 500 individual forex traders in North America, 484 745 traders in Central America, and 868 200 individuals in South America.
How Many People Trade Forex In Europe
In Europe, there is strict regulation for leveraged products, such as Forex and CFDs. These regulations are mainly set in order to protect the accounts of traders with low capital. For example, in France and Holland, the promotion of leveraged products is not legally allowed, and Belgium has almost closed leverage altogether.
The Cyprus regulator, CySEC, only allows higher leverage to customers who request it and pass the eligibility, otherwise, it is not allowed. For this reason, the number of traders in forex is not much higher in Europe as compared to the UK.
Overall there are 1.5 million Forex traders in Europe. Germany, Italy, and France are the top 3 countries with the highest number of forex traders all over Europe.
Let’s check out the table below: 13 European countries have less than 1000 traders so they are not listed here.
|Country Name||% of Online Forex Traders|
How Many People Trade Forex In the UK
The UK is the main hub of online forex trading. According to Forex market stats, there are more than 280,000 online traders in the UK which means 1 in every 164 adults in the UK is an online trader.
Why is forex trading so popular in the UK?
As compared to Europe, the rules of leverage are not much strict in the UK. The financial conduct authority FCA is concerned about controlling leverage but has not set any rules about tightening it so far. Traders can easily trade on margin with a low deposit. This is appealing to traders who get salaries.
How many People Trade Forex in South Africa
The popularity of forex trading increased in Africa when it was legalized. It is mainly regulated by FCA. According to the regulation, all brokers are required to be regulated by FSCA if they want to offer forex trading in South Africa.
How many people trade forex in South Africa? In SA there are 1.3 million forex online traders and 388 million internet users. It means 1 in every 298 internet users are forex traders.
How Many People Trade Forex In the Middle East
The Middle East countries are mostly Muslim countries. They regard trading as Haram and Riba. For this reason, the number of traders in these countries is not much higher than in the UK and USA.
Nowadays many brokers offer swap-free forex trading accounts. This is appealing to middle east traders and they are now taking initiative.
There are 147 million internet users in the Middle East. According to forex stats, 1 in every 152 internet users is an online forex trader.
What percentage of people are successful at forex trading?
The percentage of successful traders is very low, about 10 to 15% according to forex stats. Many traders leave trading when they fail to manage capital again and again. The risky and volatile nature of the forex market makes it difficult for every trader to be successful.
How many people are involved in forex trading?
According to a rough estimation, there are about 13.9 million online traders all over the world. Out of these traders, the USA marks the highest number of online traders than the UK. European and Asian traders contribute 1.3 million traders
Which country has the most forex traders?
Uk is the name of the country which has the most forex traders. According to forex market stats, the UK will have 280000 online traders in 2021. The reason is perhaps less strict leverage rules in the UK financial market.
After reading the above numbers you might be surprised that about one-fourth of the world population is going to be a forex trader. It does not mean all these traders are professional traders and make a profit regularly. The number of successful traders is quite low.
If you want to be a successful trader, learn the basics of forex and spend time on demo. Don’t open a real money account with big capital if you’re not successful on the demo.