Major Nation Players in Online Forex Trading
By admin. Filed in Uncategorized |
Many think that the major online forex trading center is the Empire City of New York but they are wrong. The major trading centers are London, Hong Kong, Singapore and New York; London being the biggest. London is the biggest financial center for foreign exchange even if the British pound ranks 4th in forex market turnover. The London market compose of 32% of the total market, followed by the United States (18%), and Japan (8%). The three countries comprise almost a half of the world’s share of the market.
Germany, France, Hong Kong (China), Singapore and Switzerland are the other major players in the online forex market. Among the eight countries mentioned, three are members of the five permanent seats in the UN Security Council; five are members of the G8; Six out of eight are members of the G20 major economies; All the three European countries mentioned are located in Western Europe, and Switzerland is the only major European foreign exchange player that is not a members of the European Union.
One may think that only the rich countries are engaged in online forex trading, but they failed to see the trend. Forex is huge market involving private investors from 150 different countries. Many websites even manage accounts of people from over 200 major capital and industrialized cities. China, India and Southeast Asia are slowly emerging as global economic superpowers that can rival London and New York.
The advent of online foreign exchange platforms made trading much easier for people around the world. They can now download the software, make an account and start investing. Unlike the old players of forex, the new ones come from different backgrounds.
