There are certain countries in the world that are the largest centers for forex trading; the largest financial market in the world is over $4 trillion which changes on a daily basis. From the most recent Bank of International Settlements foreign-exchange report, published every three years, we get to see where most of the daily forex trading volume takes place.
And the UK and USA are definitely on top of the list. Why is this so? Meanwhile some will be surprised to find Singapore on the list.
These are the largest forex trading countries in the world starting with the largest.
First is The United Kingdom – The UK and its financial center of London still records the largest percentage of overall participation in the global forex daily trading volume of any geographical location. The daily trading volume of the United Kingdom increased from 35 percent in 2007 to a total of 37 percent of the world’s overall trading volume in 2010, according to the BIS data. The total daily trading volume was suspected to have risen by about 25 percent since the year 2007 when dollar volume equaled $1,495 billion to the year 2010 when volume stood at $1,954 billion per day. Another recent report has shown that the daily volume just passed the 2,000 billion mark in April 2011.
The United States of America comes next – The United States comes in second in daily trading volume and is the largest country which has the largest forex trading market with over 300 million people. The US got to a total of 18 percent of the daily global forex volume in 2010 following a 17 percent share of the volume in 2007.
Next on the list is Japan- Japan still remains the third-largest forex trading center with a total of 6 percent of global foreign exchange turnover taking place in this country of over 128 million people. Japan also got to 6 percent of the global turnover in 2007 following an 8 percent share in 2004.
Next is this country called Singapore which some might be absolutely surprised to find here as one of the largest forex trading counties in the world. But what makes them one of the largest forex trading countries in the world -Singapore is said to have a total of 5 percent of the world’s daily forex trading volume. This was an increase from a total of $242 billion in the year 2007 which accounted for 6 percent of the overall global forex trade in the country.
Switzerland is also a forefront in the Forex market ranking as the fifth-largest forex trading center in 2010 with 5 percent of the total global volume which was a significant small decrease from the year 2007 when it accounted for 6 percent of daily volume.
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