Top Forex Brokers report over $105B in daily traded volume

5 Comments

I know you’ve been expecting it so here it is: The largest and most up-to-date report detailing the average trading volumes by retail Forex brokers. The report shows that all prior estimates were far from the actual figures. Retail forex volume doubled itself in less than two years and the total average daily volume is well above $100B.

Largest retail Forex broker, as you probably already know, is FXCM with Oanda coming in at a distant second place. It looks like FXCM’s world Forex domination is all but complete and all that is left for others is the competition for 2nd and 3rd places. Good luck Oanda, Gain, Saxo and GFT.

The numbers as were officially, and to some extent unofficially, released by the brokers themselves:

may2009brokersvolume

The figures are incomplete as some brokers such as FXDD, FX Solutions and CMS simply don’t report or disclose their numbers.

It is my estimate that the non-reporting, non-disclosing brokers are able to contribute at least 20-30B more to the daily traded volume, meaning that the total reported and estimated volume is in the range of $130-140 billion dollars a day.

A year ago I was sure retail Forex growth was about to slow down, guess I was wrong. Who wonders if $140B is the limit?

* – based on 2007 numbers and taking the average retail volumes growth since into account

** – based on report that GFT and Gain were pretty identical in size in 2007 and currently have similar cash piles







TAGS: , , , , , , , , , , , , ,
 

Related posts:

More information on this subject is found in the latest Forex Magnates Quarterly Report


5 Comments on this post

Trackbacks

  1. Proposed NFA Capital Requirement - Page 58 - Forex Trading wrote:

    [...] has released an interesting new survey on forex broker trading volumes (in the billions). Top retail Forex brokers report well over $100B in daily traded volume | Forex Magnates Monthly Trading Volume 1. FXCM $560,000,000,000 2. Oanda $338,000,000,000 3. Saxo Bank [...]

    May 28th, 2009 at 4:52 pm
  2. Trade The Forex - Make Money wrote:

    [...] Wonder who the biggest forex brokers are? Well, FXCM ranks #1 – clearly beating out their competition. [...]

    May 31st, 2009 at 3:17 pm
  3. Top retail Forex brokers report well over $100B in daily traded … | Business News wrote:

    [...] the rest of this great post here Share and [...]

    June 19th, 2009 at 5:44 pm
  1. G said:

    Hi Michael,

    Great site and excellent post. Its about time someone did something like this .

    A couple of comments and questions about this post:

    I am a little confused about CMC. You mention that they don’t disclose their volume and yet you have them listed as doing 50 yards a month. Is this an estimate?

    Also I noticed your numbers don’t quite add up. You are adding the rounded estimates. If you add the monthly figures, you get 2092bn monthly. Divide that out by 22 trading days and you get 95bn a day. About 10% less than your figure. Also I suspect many of these brokers are beefing up their numbers. Either way I think it’s a pretty good estimate and I suspect smaller brokers are adding a lot of volume to this. Lets not forget that there are hundreds of them out there. Your list is comprehensive as far as western firms but you neglect other regions. Just South Korea and Japan alone would add a significant amount. I wouldn’t be surprised if the total number is between 150bn and 200bn.

    G

    BTW – other’s comments on this post don’t seem to be visible

    June 3rd, 2009 at 10:11 pm
  2. forex broker said:

    It’s nice to know the latest reports on this kind of business.In order to know the results and series of updates.

    Thanks for this post!

    July 16th, 2009 at 9:43 pm

We do not store your information and we do not disclose our sources.


Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed):



Digital Currencies

Expert Articles

Startups & New products

Perianne Boring, Founder, Chamber of Digital Commerce

Bitcoin Picks: Negative Feedback to BitLicenses and Is Dogecoin Doomed?

Last week’s bitcoin news was headlined by an announcement from the New York Department of Financial Securities (NYDFS) that it had created proposed guidelines for...

Bitcoin Technical Analysis (BTC/USD): Prices Just Above $560 Support After Falling Below $600

Prices of bitcoin continue to fall today after breaking below the $600 barrier on Thursday.  Before Thursday’s move, prices had been in a tight range...

Kinsta Announces Bitcoin Accepted for WordPress Hosting

WordPress became the most widely known company at the end of 2012 when it announced that it would accept bitcoins for payments of WordPress.com upgrades....

More Digital Currencies

bart

Marketing: A Luxury Or Necessity?

When volumes are down, a lot of brokers stop spending on marketing. It makes some sense because when volumes are down, volatility is down, however...

tokyo

Industry Stalwarts Arrive In Tokyo For The Forex Magnates’ Summit

Industry-leading executives have been steadfastly arriving in Tokyo, one of the true global hubs for forex, for the 2014 Forex Magnates Summit slated to take...

mark

EMIR Q&A – Necessity Or Tool For Clarification?

Legislation would be even more verbose if it needed to include all of the practical advice, which firms need to develop an implementation plan. The...

More Expert Articles

New Product Spotlight

Copy Trading Update: Tradency Integrates Mirror Trader with cTrader

cTrader continues its expansion into the copy trading space as only a few weeks after Myfxbook, Tradency comes to the fray, with full integration of the platform into its Mirror Trader social trading solution.
Read more

ig labs api

IG Opens API to Public Development, Launches IG Labs

IG Group has been busy today as earlier they released the Full Year financial results to the public. Following the earlier news, they are also now launching IG Labs live today. IG Labs is a developer portal providing access to …
Read more

More Startups & New Products

Forex Research

Recent Comments

Note: Copyright © 2014 Forex Magnates. All rights reserved.

All materials contained on this site are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of Forex Magnates. You may not alter or remove any trademark, copyright or other notice from copies of the content. All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you.Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Once your submit any email address to us whether through comments, newsletter subscription or otherwise we may periodically send you email updates and/or proposals from select sponsors - you may unsubscribe from this list any time.
Opinions expressed at Forex Magnates are those of the individual authors and do not necessarily represent the opinion of Forex Magnates or its management. Forex Magnates has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by Forex Magnates, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. Forex Magnates will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2014 "Forex Magnates Inc. - Home of the Forex Elite" All Rights Reserved.