In 2010 alone, the total turnover on the FX market reached $4 trillion a day. That represents a 25 percent rise in the market since 2001. Today, this figure is much higher. In the year 2020, we should expect to see even more growth, with a total turnover of $16 trillion. The question then is how much money is in the forex market? And how can we make the most out of it?
A large chunk of the growth comes from forex trading in Africa, where interest has increased 470 percent since February 2020. This is in part due to the stabilization of African currencies in the wake of the Ebola pandemic. Many African currencies have performed well against the U.S. dollar, which is often the currency of last resort. The forex market is now over $240 trillion, dwarfing the world’s $142 trillion GDP in 2019. In addition, the Forex market dwarfs the largest stock markets, which is dominated by the U.S. dollar.
The forex market continues to grow, with more than $6 trillion traded each day. The amount of money traded each day is roughly three times greater than the global economy. In fact, the USD currency accounts for almost half of the total daily trading volume on the FX market. Even though this market is not the largest, more women will be entering this field in the coming years. Further, online trading is making forex accessible to a wider audience.
