Forex Brokers Global Market Report 2024

Description

A forex broker, or foreign exchange broker, is a financial services company that provides traders with a platform to buy and sell foreign currencies. These brokers act as intermediaries between traders and the interbank market where currency trading takes place. They often offer additional services such as market analysis, educational resources, and customer support to help traders make informed decisions.

The main types of forex brokers include currency swaps, outright forwards, FX swaps, and FX options. A currency swap is a financial arrangement where two parties exchange principal and interest payments in different currencies over a specified period. The counterparties in these transactions include reporting dealers, financial institutions, and non-financial customers, with applications spanning both enterprises and individuals.

The forex brokers market research report is one of a series of new reports from The Business Research Company that provides forex brokers market statistics, including forex brokers industry global market size, regional shares, competitors with an forex brokers market share, detailed forex brokers market segments, market trends, and opportunities, and any further data you may need to thrive in the forex brokers industry. This forex brokers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 during the historic period can be attributed to increased consumer awareness, the ease of working with forex brokers, high liquidity and transactional transparency, the expansion of the global forex market, improved data reporting providing valuable insights, and the high accessibility and liquidity of forex trading.

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 anticipated growth in the forecast period can be attributed to factors such as a country's rising exports compared to imports, central bank decisions on interest rates, the increasing integration of modern technology into trading platforms, improved efficiency and transparency, the growing need for currency exchange services for cross-border transactions, and a surge in demand for tax software. Major trends expected during this period include an increase in strategic partnerships, technological advancements, product innovations, compliance with regulatory requirements, and strategic corporate decisions.

The increase in cross-border transactions is expected to drive the growth of the forex brokers market. Cross-border transactions involve financial exchanges between buyers and sellers located in different countries. This growth is fueled by globalization, expanded international trade, and advancements in digital payment technologies. Forex brokers are crucial for managing currency exchange and mitigating foreign exchange risks in cross-border transactions, ensuring efficient and cost-effective international payments and investments. For example, in August 2023, JPMorgan Chase & Co., a US-based investment banking firm, reported that cross-border payments are rising, with international transfers projected to grow by 5% annually until 2027. Consequently, the increase in cross-border transactions is boosting the forex brokers market.

Leading companies in the forex brokers market are focusing on technological innovations, such as foreign exchange platforms, to maintain a competitive edge. These platforms are online systems that facilitate currency trading by offering 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 firm, launched Universal FX, a new forex broker platform designed to manage execution across client portfolios and provide market-leading price transparency. Universal FX caters to various market segments, including investment managers, corporates, hedge funds, and wealth managers, and supports clients through the industry shift to T+1 settlement.

In July 2023, AT Global Markets LLC, a UK-based foreign exchange company, acquired Rakuten Securities Australia (RSA) for an undisclosed amount. This acquisition enhances AT Global Markets' presence in the Australian market and leverages RSA's established customer base and experienced team. Rakuten Securities Australia (RSA) is an Australia-based forex broker.

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.

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.

The countries covered in the forex brokers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The forex brokers market includes revenues earned by entities by providing services such as commissions, overnight financing fees, premium research, advanced trading tools, and inactivity fees. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Forex Brokers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on forex brokers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for forex brokers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The forex brokers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered: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
Companies Mentioned: JPMorgan Chase & Co.; Bank of America; Citigroup Inc.; Wells Fargo & Company; BNP Paribas SA
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r19915

1. Executive Summary

2. Forex Brokers Market Characteristics

3. Forex Brokers Market Trends And Strategies

4. Forex Brokers Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Forex Brokers Market Size and Growth

5.1. Global Forex Brokers Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Forex Brokers Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Forex Brokers Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Forex Brokers Market Segmentation

6.1. Global Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Currency Swap
Outright Forward and Foreign Exchange (FX) Swaps
Foreign Exchange (FX) Options
6.2. Global Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Reporting Dealers
Financial Institutions
Non-Financial Customers
6.3. Global Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Enterprise
Individual

7. Forex Brokers Market Regional And Country Analysis

7.1. Global Forex Brokers Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Forex Brokers Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Forex Brokers Market

8.1. Asia-Pacific Forex Brokers Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Forex Brokers Market

9.1. China Forex Brokers Market Overview
9.2. China Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Forex Brokers Market

10.1. India Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Forex Brokers Market

11.1. Japan Forex Brokers Market Overview
11.2. Japan Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Forex Brokers Market

12.1. Australia Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Forex Brokers Market

13.1. Indonesia Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Forex Brokers Market

14.1. South Korea Forex Brokers Market Overview
14.2. South Korea Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Forex Brokers Market

15.1. Western Europe Forex Brokers Market Overview
15.2. Western Europe Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Forex Brokers Market

16.1. UK Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Forex Brokers Market

17.1. Germany Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Forex Brokers Market

18.1. France Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Forex Brokers Market

19.1. Italy Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Forex Brokers Market

20.1. Spain Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Forex Brokers Market

21.1. Eastern Europe Forex Brokers Market Overview
21.2. Eastern Europe Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Forex Brokers Market

22.1. Russia Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Forex Brokers Market

23.1. North America Forex Brokers Market Overview
23.2. North America Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Forex Brokers Market

24.1. USA Forex Brokers Market Overview
24.2. USA Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Forex Brokers Market

25.1. Canada Forex Brokers Market Overview
25.2. Canada Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Forex Brokers Market

26.1. South America Forex Brokers Market Overview
26.2. South America Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Forex Brokers Market

27.1. Brazil Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Forex Brokers Market

28.1. Middle East Forex Brokers Market Overview
28.2. Middle East Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Forex Brokers Market

29.1. Africa Forex Brokers Market Overview
29.2. Africa Forex Brokers Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Forex Brokers Market, Segmentation By Counterparty, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Forex Brokers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Forex Brokers Market Competitive Landscape And Company Profiles

30.1. Forex Brokers Market Competitive Landscape
30.2. Forex Brokers Market Company Profiles
- 30.2.1. JPMorgan Chase & Co.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Bank of America
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Citigroup Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Wells Fargo & Company
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. BNP Paribas SA
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Forex Brokers Market Other Major And Innovative Companies

31.1. The Goldman Sachs Group Inc.
31.2. Union Bank of Switzerland
31.3. Barclays PLC
31.4. Deutsche Bank AG
31.5. FMR LLC
31.6. Charles Schwab & Co. Inc.
31.7. BlackRock Inc.
31.8. State Street Global Advisors Inc.
31.9. The Vanguard Group Inc.
31.10. TD Ameritrade Inc.
31.11. Interactive Brokers Group Inc.
31.12. IG Group Holdings plc
31.13. Lightspeed
31.14. Saxo Bank A/S
31.15. Bloomberg Industry Group Inc.

32. Global Forex Brokers Market Competitive Benchmarking

33. Global Forex Brokers Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Forex Brokers Market

35. Forex Brokers Market Future Outlook and Potential Analysis

35.1 Forex Brokers Market In 2028 - Countries Offering Most New Opportunities
35.2 Forex Brokers Market In 2028 - Segments Offering Most New Opportunities
35.3 Forex Brokers Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer