Listed below are the top regulated forex brokers in the world. We try to share the latest forex brokers statistics in September, 2022 like How many Forex traders are there in the world, primary forex market worth, or What is the success rate of forex traders? We have excluded forex scams and only shortlisted reliable forex brokers.
|Online Brokers||Trading Platform||Open Account|
||Trading App, MT4, MT5, Web Trader, AvaOptions||Open Account|
|2006||20% Bonus||Trading App, MT4, MT5, Web Trader, AvaOptions|
||MetaTrader 4||Open Account|
|2010||Spreads from $0||ASIC|
||MT4, MT5, Web Trader||Open Account|
|2010||Best in UK||MT4, MT5, Web Trader - CYSEC, BAFIN, CMA, SCB, DFSA, ASIC, FCA|
||Iress, MetaTrader||Open Account|
|2005||0.0 Pips||ASIC, CySEC|
||Trading App, MT4, MT5, Web Trader, Copy Trader||Open Account|
|2007||Best for Copy Trading||NFA, CySEC, ASIC, CFTC, MiFID, FCA|
||MT4, MT5, Web Trader||Open Account|
|1999||$0 Rollover Fees||FCA, ASIC, SFC, CONSOB, BaFin, ACP|
Forex Broker Statistics in September, 2022
Latest FX stats and Forex broker statistics show that while the FX market trading volume has exceeded $10 trillion daily turnovers, many brokers in the world still do not offer service to U.S citizens. That means the majority of currency trading GDP comes from outside the US.
It’s also important to remember that every country has different regulatory bodies and taxation laws regarding forex trading, for instance, you must file tax with IRS in the USA while the UK tax rate on Forex trading is totally different, so you’ll have to deal with forex brokers based in your jurisdictions.
- Retail Forex Traters: One of the most important Forex broker statistics to understand is the number of retail Forex trading traders is around 6% of the total Forex market cap.
- The latest survey shows that only 29% of retail traders make a profit in a fiscal year.
- The latest study from the Bank for International Settlements (BIS) shares that US dollar is traded over 98.7%, making it the most commonly traded fiat currency.
- US dollar only accounts for 3.5% of the currency market
- Euro is the most popular trading currency in the world this year.
- Euromoney reports that if we accumulate the shares of JPMorgan, Deutsche Bank, Citi, XTX Markets and UBS, it may reach close to half of total forex marlet.
- Almost 10% of forex traders are female.
FP Markets Editor Choice
How Many Forex Markets Are There?
The primary Forex market is the spot market, which is where buyers and sellers trade currencies immediately. This is the largest currency exchange in the world and the most liquid. Most of the trades take place on the spot market, which is the only market that operates 24 hours a day. Its participants include speculators that use cfd, dealers, brokers, and investment banks. These markets are not open to the general public. They are primarily for institutional investors.
There are two types of currency exchange markets. Spot transactions are agreements to buy or sell a currency at the current rate of that currency. These are settled two days later. The exception is the U.S. dollar – Canadian dollar currency pair, which is settled three days after the purchase or sale. Businesses use forward transactions to hedge their exchange rate risk. These types of transactions are regulated and supervised to ensure that the market remains safe.
How Much is the Forex Market Worth?
The last time BIS Quarterly Review evaluated the forex market, the value of the global fx market was $2409 Trillion. There is no new update on their Report published last December. In the past decade, the forex market has grown by 40%.
The size of the forex market matters, too. The size of the market will influence the prices of the currencies on the exchange. The larger the forex market is, the higher the potential profits. However, it is important to keep in mind that a larger market will be more volatile.
Best CFD Brokers & CFD Trading Platforms Compared Editor Choice
What is the Success Rate of Forex Traders?
In a survey of professional traders, only 14 percent became regular traders, which means they consistently make profits over a period of several years. In short, the success rate is 3.5% to 4.5%. In a similar way, the success rate of new traders varies from broker to broker, and even the best forex brokers are not immune to losing trades.
One of the most important factors determining a successful trader’s profitability is money management. It is very tempting to trade for quick cash, but you risk financial instability and huge losses.
How Many Forex Traders Are There in the World?
The number of Forex traders is not an accurate indicator of the overall number of online currency exchanges. The old data shows there are more than 6 million forex traders worldwide, but the Covid pandemic had changed the stats and we have to wait for the new research to be published. Most of them are located in Asia, but some of the largest trading centers are in Europe, the Middle East, and Africa.