At what pace is the forex brokers market growing, and what is its estimated value?
The forex brokers market size has grown rapidly in recent years. It will grow from $4831.25 billion in 2024 to $5322.6 billion in 2025 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to the rising consumer awareness, ease of work benefits of forex brokers, high liquidity and transactional transparency, the growth of the global forex broker, the enhanced data reporting providing insights, and high accessibility and liquidity of forex.
The forex brokers market size is expected to see strong growth in the next few years. It will grow to $7764.28 billion in 2029 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to an increase in a country’s exports relative to imports, decisions by central banks regarding interest rates, the rising integration of modern technology in trading platforms, enhancing efficiency and transparency, need for currency exchange services to conduct cross-border transactions, the surge in demand for tax software. Major trends in the forecast period include the surge in the number of strategic partnerships, technological advancement, increase in product innovations, compliance with regulatory requirements, and strategic decisions of corporations.
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What are the key drivers behind the rapid expansion of the forex brokers market?
Rising cross-border transactions are expected to propel the growth of the forex brokers market going forward. Cross-border transactions refer to any financial transactions where the buyer and seller are located in different countries. Cross-border transactions are growing due to globalization, increased international trade, and advancements in digital payment technologies. Cross-border transactions use forex brokers to efficiently manage currency exchange and mitigate foreign exchange risk, ensuring smooth and cost-effective international payments and investments. For instance, in August 2023, according to JPMorgan Chase & Co., a US-based investment banking company, cross-border payments are on the rise, with international transfers expected to increase by 5% per year until 2027. Therefore, rising cross-border transactions are driving the growth of the forex brokers market.
What is the segmentation for the forex brokers market?
The forex brokers market covered in this report is segmented –
1) By Type: Currency Swap, Outright Forward and Foreign Exchange (FX) Swaps, Foreign Exchange (FX) Options
2) By Counterparty: Reporting Dealers, Financial Institutions, Non-Financial Customers
3) By Application: Enterprise, Individual
Subsegments:
1) By Currency Swap: Fixed-To-Fixed Currency Swap, Fixed-To-Floating Currency Swap, Cross-Currency Swaps, Foreign Exchange Swap Agreements
2) By Outright Forward And Foreign Exchange (FX) Swaps: Outright Forward Contracts, Fx Swap Contracts, Non-Deliverable Forward (NDF) Contracts, Fx Swap With Embedded Options
3) By Foreign Exchange (FX) Options: Currency Call Options, Currency Put Options, Vanilla Fx Options, Exotic Fx Options, Digital Fx Options
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Who are the most influential companies in the forex brokers market?
Major companies operating in the forex brokers market are JPMorgan Chase & Co., Bank of America, Citigroup Inc., Wells Fargo & Company, BNP Paribas SA, The Goldman Sachs Group Inc., Union Bank of Switzerland, Barclays PLC, Deutsche Bank AG, FMR LLC, Charles Schwab & Co. Inc., BlackRock Inc., State Street Global Advisors Inc., The Vanguard Group Inc., TD Ameritrade Inc., Interactive Brokers Group Inc., IG Group Holdings plc, Lightspeed, Saxo Bank A/S, Bloomberg Industry Group Inc., Paymentus Holdings Inc., Angel One Limited, Zerodha Broking Ltd., Wealthfront Corporation, OANDA Corporation, Forex.com, OctaFx India Pvt. Ltd.
What are the most influential trends expected to drive the forex brokers market forward?
Major companies operating in the forex brokers market are focusing on technological advancements, such as foreign exchange platforms, to gain a competitive edge in the market. Foreign exchange platforms are online systems that facilitate the trading of currencies, providing real-time market data, trading tools, and transaction execution for traders and investors. For instance, in October 2023, Bank of New York Mellon (BNY), a US-based investment banking company, launched Universal FX, a new forex broker platform that meets client needs to manage execution across their entire portfolio and access market-leading price transparency. Universal FX supports BNY Mellon clients across all market segments, such as investment managers, corporates, hedge funds, and wealth managers, as well as helping them navigate the industry transition to T+1 settlement.
What are the major regional insights for the forex brokers market, and which region holds the top position?
North America was the largest region in the forex brokers market in 2023. The regions covered in the forex brokers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Forex Brokers Market Report 2025 Offer?
The forex brokers market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A forex broker, also known as a foreign exchange broker, is a financial services company that provides traders with access to a platform for buying and selling foreign currencies. These brokers act as intermediaries between traders and the interbank market, where currency trading occurs, and they often offer additional services such as market analysis, educational resources, and customer support to assist traders in making informed decisions.
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