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Where is forex most traded?

The economic data which might affect the forex market is light today. So, let´s take a look at what forex market share is traded in the US and the UK. The FED (Federal Reserve) released the forex report which shows the volume of the currency traded in the US. The average daily volume increased by 1.0% year on year, reaching $893.2 billion. If we take into account that the daily forex volume traded globally is about $5 trillion, the US share of forex trading is about 17.8%. 

That´s quite a big chunk for just one country, but not as big as the share of the UK. The BOE (Bank of England) forex report showed that the daily forex volume traded in the UK fell by 9% year on year in April, but with $2.2 trillion the UK stands firmly on top in the forex world. 44% of the global forex trading takes place in the UK, mainly in the City in London, which is down from 48% last year. That´s the reason that the forex market is quiet when London is off. 

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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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