Which countries are the largest traders in forex and which countries have the most awareness of forex trading? We have drawn together some statistics that show which countries have the most interest in forex trading.
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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.
Where in the world do people do the most research on how to trade forex? Terms We Reviewed – Forex Brokers, Forex Trading
Rank
Country
Total Forex Searches
Total Forex Searches Per 10,000 Population
Number of Forex Searches as % of Population
 |
 |
 |
 |
 |
 |
|---|---|---|---|---|---|
| 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 |
To discover which countries trade the most forex, we looked at the overall average turnover in foreign exchange swaps per day.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
average daily turnover.
Who’s trading the most forex every day?
To discover which countries trade the most forex, we looked at the overall average turnover in foreign exchange swaps per day.
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.
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.
