Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Forex Brokers Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
This Forex Brokers market 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. North America was the largest region in the forex brokers market in 2023.
The global forex brokers market size has grown strongly in recent years. It will grow from $4.39 trillion in 2023 to $4.83 trillion 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 $7.07 trillion in 2028 at a compound annual growth rate (CAGR) of 10%.
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. This growth is fueled by globalization, expanded international trade, and advancements in digital payment technologies. 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. 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.
Research 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
Key Companies Profiled: 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 Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $4831.25 Billion |
| Forecasted Market Value (USD) by 2028 | $7071.85 Billion |
| Compound Annual Growth Rate | 10.0% |
| Regions Covered | Global |
Other major companies profiled in this Forex Brokers market report include:
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/yza2kt
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