FX was born in America in the mid-1990s. Since then, forex trading has become popular all over the world and has also penetrated quite deeply in Asia and Europe. It has only been about 20 to 30 years since FX appeared, but then, in which countries and how many users are trading?
Forex population in the world
As of 2020, it is said that there are over 10 million people doing Forex all over the world. Average daily trading volume increased from 1.2 trillion in 1995 to 5.1 trillion in 2016, according to Bank for International Settlements figures. Asians make up the majority of the 10 million people.
| area | Forex trading population |
| Asia | 3.2 million people |
| north america | 1.5 million people |
| Europe | 1.5 million people |
| Africa | 1.3 million people |
| middle east | 970,000 people |
| south america | 330,000 people |
| Oceania | 190,000 people |
The United Kingdom has the largest population in Europe, followed by the major European countries. There is a London market in England, and it is popular because it has led the world’s financial markets for a long time. France and the Netherlands do not allow the promotion of leveraged products, and Belgium prohibits leverage entirely.
2020 Forex Trading Volume by Country
| area | trading volume |
| England | $3.576 trillion |
| America | $1.37 trillion |
| Singapore | $633 billion |
| Hong Kong | $632 billion |
| Japan | $376 billion |
| Switzerland | $276 billion |
| France | $167 billion |
The world’s key currency is the US dollar, which accounts for about 88% of the world’s circulation. The United Kingdom has the largest number of foreign exchange transactions. The London market is the biggest factor in this. This is because London has long been a market leader in the world’s financial markets.
Also, by user, you can see that most transactions are in the United Kingdom, the United States, and Asia. You may wonder, but for some reason China does not appear when Hong Kong and Singapore appear.
Forex margin trading is prohibited by law in China. However, the current situation is that the regulations are loose and foreign brokers are entering the market.
The world’s most popular XM
And for these traders, a very popular Forex company would be XM. The FX company with the largest number of accounts in the world is said to be Gaitame.com, but the FX company with the most actual operations is said to be XM, the largest FX company with over 5 million users in 190 countries around the world. is. XM Group is the largest company with over 5 million traders in 190 countries around the world. In addition, it has the financial license “FCA (British Financial Conduct Authority)”, which is said to be the most difficult to obtain in the world, so there is no doubt about its safety.
World Forex company ranking
XM is the 14th most popular company in the world when you look at TradersUnion, a review site for forex brokers in the world. XM offers its services to users all over the world, so you can easily see that it is very popular.
| No | Forex Broker |
| 1 | RoboForex |
| 2 | Exness |
| 3 | IC Markets |
| 4 | FxPro |
| 5 | Vantage |
| 6 | A-Markets |
| 7 | Forex4you |
| 8 | OctaFX |
| 9 | Libertex |
| 10 | NPBFX |
| 11 | Pocket Option |
| 12 | Multi Bank |
| 13 | TeleTrade |
| 14 | XM |
| 15 | FXOpen |
| 16 | InstaForex |
| 17 | eToro |
| 18 | Admiral Markets UK |
| 19 | Ducascopy |
| 20 | 4XC |
Source : TradersUnion
User distribution
According to TradersUnion, you can see that Thailand is overwhelmingly the largest user distribution of XM in the world. South Africa comes next. In addition, you can see that there are a lot of users in South America, Southern Africa, and Southeast Asia. As for XM Trading, Japanese traders account for more than 99%, and it is almost a service for Japanese people.
Source: Tradersunion
User reputation
This broker is user friendly. Unlike bucket shops, there are no requotes or slippage in both directions.. MT5 has a Level 2 order book with prices and order volumes – transactions are actually sent to the foreign market. They have reliable customer service partners who will answer your questions. They partner with Integral and Currenex. You will also have access to learning resources.
Source: Tradersunion
I have been working with this broker for more than 3 years, I have mixed impressions. There are no problems with money withdrawal; everything is within the offer. Although I have experienced issues concerning the execution of orders and their customer service is slow but overall, I am happy with the service and will continue to use it.
Source: Tradersunion
I have experienced little slippage on STP or ECN accounts; however, there will always be slippage in both positive and negative directions. After all, quotes change in fractions of a second, and slippage in 5 digit quotes. It is the XM Broker that has little slippage, believe my experience.
Source: Tradersunion
XM Group is a highly rated broker. On almost all rating resources, XM Group occupies a high position. I think that this is a justified indicator among many competitors. I started trading with this company two years ago. And I can already leave a positive review as well. I rate its reliability and conditions high.
Source: Tradersunion
I have a small account with XMGroup. The minimum deposit is $250. By now, it’s enough for me. There are different services here, but I only use my own funds and leverage. I have already withdrawn twice to a bank card. The first amount was $35 and the second was $52. The money comes to the card within two-three days. So for now, XMGroup satisfies me.
Source: Tradersunion
I want to share my positive experience of working with XM Group. I used their services to invest in stocks and was satisfied. All processes were quick and easy, and I received prompt answers to all my questions from their professional support team. Moreover, I received regular notifications about my investments and promotions, which helped me be up to date of all the changes in the market. I recommend XM Group to anyone who is looking for a reliable and professional broker to invest in the market.
Source: Tradersunion
XM Group deserves a positive review. They keep all their promises. There is no slippage here, spreads do not widen significantly, and the trading platform is excellent. I want to distinguish support service and personal managers who are always ready to help in difficult issues. XM Group is a great choice for novice traders, like me.
Source: Tradersunion
After the first withdrawal of profits from XM Broker, I can leave a positive review about it. I do not know if this broker is licensed, but the main test for me is always the withdrawal of funds. And XM Broker coped with this test. The $600 profit was safely credited to my bank account.
Source: Tradersunion
XM Group is a reliable and trusted Forex broker offering a wide range of benefits to its clients. XM Group provides users with all the tools they need for successful trades, ranging from competitive spreads and leverage to technical support. I recommend XM Group.
Source: Tradersunion
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