How much volume is traded per day in the forex market?

[skrimon]

The worldwide 2021 forex market is worth $2,409,000,000 ($2.409 quadrillion). $6.6 trillion on average every day is traded on foreign exchange markets.

This is significantly higher than the previous analysis done by the Bank for International Settlements (BIS) in 2016 when it was valued at $1.934 quadrillion dollars.

The forex market is the largest financial market in the world in terms of trading volume, liquidity and value. Unlike other markets such as equities, the forex industry is the only financial market with 24/7 availability.

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Spot forex is the most popular asset class with $2 trillion worth of spot transactions traded daily in foreign exchange markets. After spot fx, the instruments with the largest daily turnover are:

Forwards $1 trillion

Foreign Exchange Swaps $3.2 trillion

Currency Swaps $108 billion

Options and others $294 billion

As the largest financial market in the world, forex market participants are mainly financial institutions such as hedge funds, investment managers, multinational corporations, as well as commercial, investment and central banks.

Retail forex trading only accounts for a mere 5.5% of the entire forex market globally.

The majority of forex trading is facilitated in five major financial hubs around the world, with 79% of forex trading occurring in the United Kingdom, United States, Hong Kong, Singapore, and Japan.

The UK is by far the largest fx trading center, contributing to 43.1% of the world's foreign exchange turnover.

With the recent rise in the popularity of Forex trading in Asia, China has increased from the 13th to the 8th largest forex trading center in the world.
Thanks for reading!

[SkorbinAlexey]

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Edited April 22 by SkorbinAlexey