The global foreign exchange market size reached US$ 6.60 Trillion in 2020 as per the estimates by IMARC Group. Looking forward, the market value i
The global foreign exchange market size reached US$ 6.60 Trillion in 2020 as per the estimates by IMARC Group. Looking forward, the market value is projected to reach US$ 10.2 Trillion by 2026, expanding at a CAGR of 7.50% during the forecast period (2021-2026). The leading players operating in the industry are focusing on developing the overall infrastructure to offer improved security for trading. Apart from this, global tourism, and technological advancements, such as the availability of outright forward and currency options, are offering lucrative opportunities to market players.
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The global foreign exchange market is primarily driven by the confluence of various factors, including rapid urbanization, changing lifestyle patterns and inflating income levels of individuals. Additionally, a significant rise in global tourism has positively influenced the demand for foreign exchange. This is further supported by the numerous benefits of forex, including high liquidity and transactional transparency, minimal trading costs, 24×7 trading opportunities, and vast trading volume. The forex market also attracts international traders by offering various lucrative opportunities and early profits. Moreover, rapid digitization and technological advancements are expected to contribute to market growth. For instance, the advent of multiple internet-based platforms offers convenience during currency exchanges and ensures the delivery of goods and services in a secure and centralized setting. Furthermore, several companies are investing in developing the overall infrastructure to provide improved security solutions for trading, thereby providing traction to the market growth.
List of Top Foreign Exchange Companies in the World:
1. Barclays, BNP Paribas
2. Citibank Deutsche Bank
3. Goldman Sachs,
4. HSBC Holdings plc
5. JPMorgan Chase & Co.,
6. The Royal Bank of Scotland
7. UBS AG
8. Standard Chartered PLC
9. State Street Corporation
10. XTX Markets Limited
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