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Forex is the largest financial market in the world. A large number of traders join Forex every day. However, most of them blow their account in just a few days of trading. Only those traders survive in Forex who only invest the amount they can afford to lose.
Is it easy to keep a record of daily transactions of foreign exchange throughout the world?
Obviously, it is not easy when it comes to the word daily. However, banks and other institutions release forex statistics yearly.
How much money is traded in Forex daily?
According to forex statistics, the estimated traded amount on a daily basis is $6.6 trillion in last year. Overall approx $5trillion of foreign exchange transactions take place daily. If we divide it by the hourly transactions, it is $220billion per hour, a huge amount!
This money transaction is done by brokers, institutions, banks, and corporates. In this total amount, 90% of trading volume is gained by speculations. The most-traded currencies are US Dollar, Euro, and Yen.
What is Forex and Who Trade Forex
Is forex a global market for exchanging currencies, also known as the foreign exchange market? It means buying one currency after selling the other. The exchange rate is paid when you exchange one currency for other.
Overall, there are 180 different currencies in the world. The international trades take place mostly with the U.S. dollar, British pound, Japanese yen, and the euro.
Currencies are mostly traded through spot transactions, options, and swaps around the clock five days a week.
There are two players major and minor in the Fx world. The major players contribute 90% transaction of the total Fx traded volume, while brokers and rentals traders contribute only 10%. The major players include
- Commercial and Investment banks
- Central Banks
- Hedge Funds
- Multinational Companies
- Investment Banks
- Brokers
- Retail Trader
| Type Of Trading | Amount | Percentage |
| Swaps | $3.31 | 50% |
| Spots | $1.99 | 30% |
| Forwards | $0.99 | 15% |
| Options | $0.29 | 5% |
| Total | $6.59 | 100% |
How much money is traded in Forex daily Last Year
In the past few years, the trading volume of forex has increased by 40%. In 2010, the daily forex turnover was $4trillion. Before this, a 25% rise in volume was calculated in 2001.
During 2016 this turnover dropped to $5.1trillion. The years between 2016 to 2019 observed a 30% increase in FX trading volume. It was probably due to fx swaps, hedging, and risk management. The overall turnover of the FX market hit $3.2t which is a 34% increase from the previous report.
Finally, last year, the Fx market traded volume reached $6.6 trillion daily. This is 40% larger than the previous year’s 2019 traded volume which was $3.2trillion. This peak was mainly due to the popularity of e-trading platforms.
How much money is traded in Forex daily This Year
After covid the importance of online trading and earning increased manifold. People started investing in learning online trading and earning techniques. This boomed the number of traders and trading volume of this market globally.
How much money is traded in Forex daily this year?
The net worth of the forex market reached $2.409 quadrillion globally this year. Traders this year started to educate themselves for professional trading massively. Despite the fact that only2% of retail traders succeed every year, the attraction of the forex market remained on fire this year.
How many dollars are traded in Forex
According to Fx statistics, more than 80% of the trades take place in the US dollar and other currencies. The second most traded currency is the Euro in which more than 20% of trades take place. Almost all international transactions are done in dollars. The yen currency also rises as the third most popular currency after 2019.
How many dollars are traded in Forex? Dollars contribute about 80% of traded volume in Fx, while the Euro makes32%. The third currency Yen gained popularity in 2019 but not more than US and EU.
Below is the table of the top 8 currencies with percentages included in FX trade globally
| Name Of Currency | Percentage Traded |
| USD(Dollar) | 88 |
| EUR(Euro) | 32 |
| JPY(Yen) | 17 |
| GBP (Pound) | 13 |
| AUD(Australian Dollar) | 7 |
| CHF(Swiss Franc) | 5 |
| CAD(Canadian Dollar) | 5 |
| CNY(Chinese Yuan) | 4 |
| Other | 25 |
FAQ
How large is the forex market this year?
Forex is the largest financial market in the world. In this year, the daily traded volume of Forex hit $6.6trillion which is 40% higher than in 2019. Forex is larger than stock and all other financial markets.
How many forex traders are there in the world last year?
According to FX statistics, there are about 10 million forex traders in the world. Out of this 10 million, 3.2 million are in Asia, 1.5 in Europe, and North America. This number is booming day by day.
Final Words
In a nutshell, the flow of money in the FX market is unlimited. The US Dollar is the king of all transactions and currency exchange. The second most traded currency is Euro and the third is Yen.
About $6.6trillion is traded daily in FX with an average of approximately $5.5trliion worth. This amount will increase with time. If you’re still not a part of this financial market, you should think about it from now!
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