High accessibility & liquidity, considerable growth in global economic developments, and and surge in the number of strategic partnerships and acquisitions among key players are the key factors that drive the expansion of the forex brokers market.
WILMINGTON, Del., May 17, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Forex Brokers Market by Counterparty (Reporting Dealers, Financial Institutions, and Non-financial Customers) and Type (Currency Swap, Outright Forward & FX Swaps, and FX Options): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the "forex brokers market" was valued at $5,233.47 billion in 2023, and is estimated to reach $13,038.5 billion by 2032, growing at a CAGR of 10.9% from 2024 to 2032.
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124 - Tables
46 - Charts
245 - Pages
Prime determinants of growth
High accessibility & liquidity and the considerable growth in global economic developments boost the expansion of the global forex market. In addition, the surge in the number of strategic partnerships and acquisitions among key players have positively influenced the growth of the market. However, privacy and data security concerns and regulatory compliance costs and complexity are expected to hamper market growth. On the contrary, the rising consumer awareness toward the numerous benefits of forex brokers, such as minimal trading costs, high liquidity and transactional transparency is expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the global forex broker market.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2024-2032 |
Base Year | 2023 |
Market Size in 2023 | $5,233.47 billion |
Market Size in 2032 | $13,038.5 billion |
CAGR | 10.9 % |
No. of Pages in Report | 239 |
Segments covered | Counterparty, Type, and Region. |
Drivers | High accessibility and liquidity and the considerable growth in global economic developments The surge in the number of strategic partnerships and acquisitions among key players |
Opportunities | The rise in consumer awareness toward the numerous benefits of forex brokers, such as minimal trading costs, high liquidity and transactional transparency |
Restraints | Privacy and data security concerns Regulatory compliance costs and complexity |
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The financial institutions segment maintained its leadership status throughout the forecast period.
By counterparty, the reporting dealers segment held the highest market share in 2023, accounting for nearly two-thirds of the global forex brokers market revenue, owing to technological advancement and a rise in awareness among the people are projected to attract many new consumers, which boost the global market. However, the financial institutions segment is projected to manifest the highest CAGR of 14.6% from 2023 to 2032, owing to the enhanced data reporting providing insights into market trends, leading to more informed decision-making. Technology advancements and the globalization of financial services have further encouraged participation.
The currency swap segment to maintain its leadership status throughout the forecast period
By type, the outright forward and FX swaps segment held the highest market share in 2023, accounting for nearly two-fifths of the global forex brokers market revenue. The outright forward and FX swaps segment is driven by the need for liquidity and risk management in international business. Companies engaging in multi-currency operations utilize currency swaps to mitigate risks associated with foreign currency fluctuations. However, the FX Options segment is projected to manifest the highest CAGR of 10.5% from 2023 to 2032, due to the rise in the adoption of FZ swaps for hedging against currency risk and are driven by the need to manage and lock in future exchange rates.
Asia-Pacific maintain its dominance by 2032
By region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global forex brokers market revenue due to several factors. The major factors that drive the growth of the market in this region are continual technological advancements in trading platforms and the availability of diverse financial products that cater to both institutional and individual investors. However, the Asia-Pacific region is expected to witness the fastest CAGR of 12.5% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to rapid technological advancements, digitization of economies, positive government initiatives, and increased expendable income among the region's middle-income population are some of the key factors powering the overall economy's growth of the Asia-Pacific region.
Leading Market Players: -
- Barclays,
- BNP Paribas,
- Citibank,
- Deutsche Bank,
- Goldman Sachs,
- HSBC Holdings plc,
- JPMorgan Chase & Co.,
- The Royal Bank of Scotland,
- UBS AG,
- Standard Chartered PLC,
- State Street Corporation,
- XTX Markets Limited
The report provides a detailed analysis of these key players of the global forex brokers market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Forex brokers market analysis from 2024 to 2032 to identify the prevailing global forex brokers market opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global Forex brokers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global forex brokers market forecast.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players and forex brokers market outlook.
- The report includes the analysis of the regional as well as global Forex brokers market trends, key players, market segments, application areas, and market growth strategies.
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Forex Brokers Market Report Highlights
Aspects Details
By Counterparty
- Reporting Dealers
- Financial Institutions
- Non-financial Customers
By Type
- Currency Swap
- Outright Forward and FX Swaps
- FX Options
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East and Africa (Gcc Countries, South Africa, Rest of Middle East And Africa)
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