The forex brokers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Forex Brokers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The forex brokers market size has grown strongly in recent years. It will grow from $4396.93 billion in 2023 to $4831.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. 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 $7071.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. 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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Scope Of Forex Brokers Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
Cross-border transactions are expected to propel the forex brokers market, as global trade and digital payment advancements drive this trend. Cross-border transactions, which occur when the buyer and seller are in different countries, utilize forex brokers to manage currency exchange and mitigate risks. As noted by JPMorgan Chase & Co., cross-border payments are projected to rise by 5% annually through 2027. This ongoing expansion indicates significant growth in the forex brokers market in 2023, and the momentum will likely continue through 2024 and into 2028 as global economic activities increase.
Market Trends –
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.
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
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Regional Insights –
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.
Key Companies –
Major companies in the 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.
Table of Contents
1. Executive Summary
2. Forex Brokers Market Report Structure
3. Forex Brokers Market Trends And Strategies
4. Forex Brokers Market – Macro Economic Scenario
5. Forex Brokers Market Size And Growth
…..
27. Forex Brokers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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