Looking into building a retirement village? What is a cryptocurrency trading bot? Are Trump and Brexit Affecting My Investments? What are the main forex industry stats for 2017, and why are these statistics important to you as abc bank china forex market trader?
This article spells out some of the little known facts about the forex market. The forex market is not just a place where currencies are bought and sold on a daily basis. Sure it is a market for that activity, but it goes far beyond merely buying and selling currencies. The forex market is indeed a large market that brings together central banks, investment banks, commercial banks, hedge funds, retail traders, technology providers, statisticians, quants, software developers, analysts, just to name a few. So what are the industry statistics for the forex market in 2017?
Let’s take it from one sector in the forex industry to another. This is obviously the first place to start. How much money moves around the forex market on a daily basis? This makes the forex market the biggest financial market in the world. However, after years of massive growth spurred by the deregulation of the market and entrance of all types of new technology, statistics also show that the forex market is actually shrinking. Coalition, a top industry analytics firm, also reports that trade volumes across the major trading hubs are down, and the number of people employed at trading desks is also falling. The sheer size of the forex market means that it is still a place brimming with opportunities not just for traders, but for those offering value-added services to segments of the market.
The market technology segment of the forex market is usually provided by smaller companies which service the retail and institutional ends of the market. What has been the trend in the usage of the technology solutions behind the forex market? It has been so successful that the successor to this platform, the MT5, has been unable to capture the market share that the MT4 has occupied for so many years. Many more users are turning to trading robots to perform their trades for them.
Not only is the number of traders using algorithmic software and retail forex robots increasing, the usage of trading software has also brought in traders from age groups that were not active in the market several years ago. This information shows clearly that the use of technology is far outweighing human input when it comes to performing trades. With the appropriate technology, traders can get better fills, faster executions and more efficient trade management. What currencies are the most traded currencies in the forex market? This is important because the costs of trading these currencies are lower, and market movements tend to be more predictable. What currencies trended the most, and which ones are the most trending right now?