IMARC Group, a leading market research company, has recently releases report titled “Foreign Exchange Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global foreign exchange market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the foreign exchange market?

Report Attributes Details
Market Size in 2022 US$ 753.2 Billion
Market Forecast in 2028 US$ 1143.2 Billion
Growth rate (2023 to 2028) CAGR of 7%
Base Year of the Analysis 2022
Forecast Period 2023-2028

What is foreign exchange?

Foreign exchange (FX) involves an exchange of the currency of one country with another at specific exchange rates. It enables investors to invest in the market through banks, commercial companies, investors, and investment management firms. It offers international liquidity and provides traders flexibility as FX operates all the time. It also provides low transaction costs and a wide variety of trading options compared to other markets. It is suitable for beginners who want to invest in the FX market as it provides transparency in transactions. As a result, it is utilized by individuals, retailers, corporate institutes, and government agencies around the world.          

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What are the growth prospects and trends in the foreign exchange industry?

Presently, the increasing demand for FX for convenient use of foreign currency, along with the rising international transactions, represents one of the key factors contributing to the growth of the market. Apart from this, rapid digitalization and high-speed internet facilities across the globe are propelling the growth of the market. Moreover, the increasing number of travelers visiting abroad for different purposes and the growing international business expansion around the world is offering lucrative growth opportunities to industry investors. Furthermore, a wide availability of online platforms with enhanced security mechanisms for trading across the globe is strengthening the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Counterparty:

  • Reporting Dealers
  • Other Financial Institutions
  • Non-financial Customers

Breakup by Instruments:

  • Currency Swap
  • Outright Forward and FX Swaps
  • FX Options

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • 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

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