The question how many people do forex trading reveals just how widespread and accessible this global market has become. With the advent of online platforms, low entry barriers, and smartphone trading apps, forex trading has expanded far beyond institutions to include millions of retail traders worldwide.

This article explores the estimated number of forex traders globally, who they are, where they are located, and why the market continues to grow year after year.

Key Takeaways

• Over 15 million people globally are estimated to actively trade forex.
• Retail traders make up a growing segment of the market, especially in Asia and Africa.
• The forex market trades over $7.5 trillion daily, largely driven by institutions but increasingly influenced by retail volume.
• Forex brokers and apps make it easy for individuals to access the market from anywhere.
• A structured Forex Course can give beginners the tools and strategies needed to thrive in this competitive space.

How Many People Trade Forex Globally?

While the market is decentralised and exact numbers are difficult to pinpoint, the Bank for International Settlements (BIS) and industry surveys suggest:

• 15 to 20 million retail forex traders exist worldwide.
• An estimated 1.5 to 2 million new traders start each year.
• The number has grown rapidly with smartphone access and social media education.

Where Are Most Forex Traders Based?

Region	Estimated Traders	Characteristics
Asia	7+ million	Huge interest in India, Indonesia, Malaysia, China
Africa	3+ million	Growth in Nigeria, South Africa, Kenya
Europe	2–3 million	Regulated brokers and mature markets
Latin America	1+ million	High activity in Brazil, Argentina, Colombia
Middle East	500,000+	Focus on Islamic accounts and oil-related currencies
North America	500,000+	Smaller retail base, stricter regulation

Who Are the People Trading Forex?

1. Retail Traders

• Individuals trading from home using brokers or apps
• Range from beginners to professionals
• Often use MetaTrader platforms

2. Institutional Traders

• Banks, hedge funds, asset managers
• Represent most of the $7.5 trillion daily volume
• Use advanced algorithms and deep liquidity pools

3. Prop Firm Traders

• Traders funded by proprietary trading firms
• Earn based on performance with managed risk

4. Students and Part-Time Traders

• Young people exploring alternative income streams
• Often begin through free resources and demo accounts

Why So Many People Are Joining Forex

• Low Capital Requirement: Start with as little as $10
• 24/5 Market Access: Trade anytime, from anywhere
• Leverage: Amplifies potential gains (and risks)
• Technology: Mobile apps, Telegram bots, and AI advisors
• Financial Freedom Goal: Many see forex as a path to independence

Case Study: Retail Trader Growth in Africa

In 2022, South Africa reported over 1 million active forex traders, many of whom were under 30. The combination of smartphone access, high unemployment, and internet penetration led to a boom in online trading education platforms and Telegram signal groups. Traders in Lagos, Nairobi, and Johannesburg now make up a powerful segment of global forex volume.

What This Means for You

More people trading doesn’t just mean more competition—it also means:

• Greater liquidity
• More learning communities
• Faster technological evolution
• More regulatory scrutiny to protect traders

Frequently Asked Questions

How many people trade forex in the world?

Estimates suggest 15–20 million people globally are involved in forex trading, with retail participation rising every year.

Is forex trading popular in Asia and Africa?

Yes, these regions have some of the fastest-growing forex trader populations due to mobile access and financial aspirations.

How many new forex traders start each year?

Around 1.5 to 2 million new traders begin forex trading annually, according to industry reports.

Do most forex traders make money?

No, statistics show many beginners lose money due to lack of education, poor risk management, or unrealistic expectations.

Is forex trading growing?

Yes, retail forex trading is growing globally due to digital platforms, social media influence, and access to education.