Top Forex Trading Countries

Forex Trading Popularity By Region

With over USD 7.5 billion traded every day and a global annual value of USD 1.93 quadrillion (see our Forex Trading Statistics), it’s safe to say that forex trading has grown from a niche interest of a select group of traders to a global retail investment phenomenon.

With markets that literally never close and ever more sophisticated trading tools available, forex trading sits at the intersection between finance, technology, and globalization in a way that few other asset classes can claim.

Some countries, however, seem to have a higher population of active traders, while others show high levels of interest, but lower overall trading volumes. To better understand the global interest in forex and forex trading, we reviewed the data and arrived at some intriguing insights.

Which Country Has Most Forex Traders?

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1	Jamaica	2,988,766	2290	0.08%	8
2	Singapore	5,949,403	4490	0.08%	8
3	Cyprus	1,226,256	790	0.06%	6
4	South Africa	60,936,840	39200	0.06%	6
5	United Arab Emirates	10,150,266	5300	0.05%	5
6	United Kingdom	68,649,066	32,400	0.05%	5
7	Australia	26,142,549	12,010	0.05%	5
8	New Zealand	4,906,611	2220	0.05%	5
9	Canada	38,456,142	14390	0.04%	4
10	Malaysia	33,269,354	11880	0.04%	4
11	Ireland	5,057,474	1580	0.03%	3
12	Netherlands	17,215,421	5240	0.03%	3
13	Kenya	56,409,260	15530	0.03%	3
14	United States	332,403,650	84,400	0.03%	3
15	Sweden	10,234,328	2090	0.02%	2
16	Philippines	112,762,035	20890	0.02%	2
17	Switzerland	8,790,714	1510	0.02%	2
18	Ghana	32,513,511	5280	0.02%	2
19	Belgium	11,697,324	1840	0.02%	2
20	Hong Kong	7,628,011	1090	0.01%	1
21	Greece	10,316,662	1450	0.01%	1
22	Italy	60,274,561	8220	0.01%	1
23	Sri Lanka	21,604,889	2480	0.01%	1
24	Indonesia	279,790,914	30984	0.01%	1
25	Portugal	10,134,295	1080	0.01%	1
26	Nigeria	217,595,628	23,180	0.01%	1
27	Romania	18,970,622	1950	0.01%	1
28	Czechia	10,751,155	1030	0.01%	1
29	Germany	84,354,428	7970	0.01%	1
30	Bulgaria	6,839,805	610	0.01%	1
31	France	65,580,372	5260	0.01%	1
32	Israel	8,952,406	660	0.01%	1
33	Morocco	37,861,446	2010	0.01%	1
34	Thailand	70,172,346	3700	0.01%	1
35	Colombia	52,058,318	2740	0.01%	1
36	Spain	46,793,089	2370	0.01%	1
37	Pakistan	230,384,885	10970	0.00%	0
38	Tanzania	63,584,328	3020	0.00%	0
39	India	1,409,351,857	63400	0.00%	0
40	Poland	37,759,224	1490	0.00%	0
41	Saudi Arabia	36,002,781	1340	0.00%	0
42	Turkey	86,306,447	3030	0.00%	0
43	Vietnam	99,189,646	2510	0.00%	0
44	Ukraine	43,186,133	960	0.00%	0
45	Mexico	131,867,591	2910	0.00%	0
46	Bangladesh	168,239,568	3110	0.00%	0
47	Japan	125,663,940	1620	0.00%	0
48	Egypt	106,600,388	1350	0.00%	0
49	Iran	86,334,845	0	0.00%	0
50	China	1,451,178,099	0	0.00%	0

Highest Daily Turnover Forex Trade

Who’s trading the most forex every day?

What We Measured

To discover which countries trade the most forex, we looked at the overall average turnover in foreign exchange swaps per day.

1

United Kingdom

USD 1.6 trillion

average daily turnover.

2

United States

USD 580 billion

average daily turnover.

3

Hong Kong

USD 417 billion

average daily turnover.

4

Singapore

USD 340 billion

average daily turnover.

5

Japan

USD 195 billion

average daily turnover.

6

Switzerland

USD 161 billion

average daily turnover.

7

France

USD 118 billion

average daily turnover.

8

Germany

USD 96 billion

average daily turnover.

9

china

USD 84 billion

average daily turnover.

10

Other Countries

USD 6.6 billion

average daily turnover.

Highest Daily Turnover Forex Trade

Who’s trading the most forex every day?

What We Measured

To discover which countries trade the most forex, we looked at the overall average turnover in foreign exchange swaps per day.

Top 10 Forex Trading Countries

1. United Kingdom – USD 1.6 trillion average daily turnover.
2. United States – USD 580 billion average daily turnover.
3. Hong Kong – USD 417 billion average daily turnover.
4. Singapore – USD 340 billion average daily turnover.
5. Japan – USD 195 billion average daily turnover.
6. Switzerland – USD 161 billion average daily turnover.
7. France – USD 118 billion average daily turnover.
8. Germany – USD 96 billion average daily turnover.
9. China – USD 84 billion average daily turnover.
10. Others – USD 6.6 trillion average daily turnover.

Conclusion

While the United Kingdom, with its friendly regulatory environment and status as a global financial hub, takes the top spot in overall turnover, together with other developed economies, Jamaica shows the most interest in forex. In fact, the overall highest level of forex search activity arises from smaller, more dynamic developing economies. As a side note, Australia has founded the most Best Forex Brokers In Australia relative to their population in the world.

Our Methodology

We reviewed our own internal data to identify countries with the highest number of CompareForexBrokers.com visitors. Within this sample, we looked at search volume for popular forex-related keywords for the past twelve months. Our data is correct as of 4th of February 2024.

Information about the volume of forex trading in a given country was taken from reports published by the Bank of International Settlements (BIS) and Statista.

We calculated the percentage of people in a given country performing forex-related searches against the overall population to find the number of CompareForexBrokers.com visitors and related searches per capita. Next, we normalized this number per 10,000 people.

Finally, we ranked each country on the basis of forex engagement and forex quantities traded.

DISCLAIMER: Our calculations are based in part on third-party data. Further, changes in the market may impact the accuracy of some of our information. As always, we will update this page at regular intervals, but readers should be aware that information is accurate as of the date we publish.