The global foreign exchange market size reached US$ 753.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 1,143.2 Billion by 2028, exhibiting a CAGR of 7.2% during 2022-2028.
Foreign exchange (FX), also known as forex, refers to the systematic conversion of one currency into another at a specific forex rate. It functions through an electronic network of brokers, individual traders, banks, and other financial institutions. It allows fund transfers by utilizing various credit instruments, including foreign currency bills, telephonic transfers, and bank drafts. It also facilitates the flow of money obtained from international trade and promotes the trade of goods and services among different countries. As it is an easily accessible financial market, its participants range from tourists and amateur traders to large financial institutions and multinational corporations (MNCs).
Foreign Exchange Market Trends:
Rapid urbanization and inflating disposable income levels of individuals are among the key factors positively influencing the market. In line with this, a significant increase in international trade activities is catalyzing the demand for FX as it provides numerous benefits, such as minimal trading costs, high liquidity and transactional transparency, 24x7 trading opportunities, and vast trading volume. Besides this, the rising trend of digitization and the introduction of outright forward and currency options are contributing to market growth. Additionally, the development of advanced electronics and multiple internet-based platforms that allow users to exchange currencies conveniently between countries while ensuring the delivery of goods and services in a secure and centralized setting is creating a favorable market outlook. Along with this, the launch of automated conversion systems that offer improved flexibility and convenience during currency exchanges is driving the market. Furthermore, organizations are focusing on developing the overall infrastructure to provide improved security solutions for trading, which is propelling market growth.
Key Market Segmentation
The publisher provides a detailed analysis of the key trends in each sub-segment of the global foreign exchange market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on the counterparty and type.
Breakup by Counterparty:
- Reporting Dealers
- Other Financial Institutions
- Non-financial Customers
Reporting dealers dominate the market as they actively conduct business with large customers, such as large corporate firms and financial institutions.
Breakup by Type:
- Currency Swap
- Outright Forward and FX Swaps
- FX Options
Currency, swap holds the largest market share as it allows companies to obtain foreign currency loans at a better interest rate.
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
At present, North America is enjoying the leading position in the market due to the enhanced trade monitoring and surveillance in the forex market across the region.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are 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, and XTX Markets Limited.
Key Questions Answered in This Report
1. What was the size of the global foreign exchange market in 2022?
2. What is the expected growth rate of the global foreign exchange market during 2023-2028?
3. What are the key factors driving the global foreign exchange market?
4. What has been the impact of COVID-19 on the global foreign exchange market?
5. What is the breakup of the global foreign exchange market based on the counterparty?
6. What is the breakup of the global foreign exchange market based on the type?
7. What are the key regions in the global foreign exchange market?
8. Who are the key players/companies in the global foreign exchange market?
Table of Contents
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Foreign Exchange Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Counterparty
6.1 Reporting Dealers
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Other Financial Institutions
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Non-financial Customers
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Type
7.1 Currency Swap
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Outright Forward and FX Swaps
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 FX Options
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
12.3.1 Barclays
12.3.1.1 Company Overview
12.3.1.2 Product Portfolio
12.3.2 BNP Paribas
12.3.2.1 Company Overview
12.3.2.2 Product Portfolio
12.3.2.3 Financials
12.3.2.4 SWOT Analysis
12.3.3 Citibank
12.3.3.1 Company Overview
12.3.3.2 Product Portfolio
12.3.3.3 SWOT Analysis
12.3.4 Deutsche Bank
12.3.4.1 Company Overview
12.3.4.2 Product Portfolio
12.3.4.3 Financials
12.3.4.4 SWOT Analysis
12.3.5 Goldman Sachs
12.3.5.1 Company Overview
12.3.5.2 Product Portfolio
12.3.5.3 Financials
12.3.5.4 SWOT Analysis
12.3.6 HSBC Holdings plc
12.3.6.1 Company Overview
12.3.6.2 Product Portfolio
12.3.7 JPMorgan Chase & Co.
12.3.7.1 Company Overview
12.3.7.2 Product Portfolio
12.3.7.3 Financials
12.3.7.4 SWOT Analysis
12.3.8 The Royal Bank of Scotland
12.3.8.1 Company Overview
12.3.8.2 Product Portfolio
12.3.8.3 Financials
12.3.9 UBS AG
12.3.9.1 Company Overview
12.3.9.2 Product Portfolio
12.3.10 Standard Chartered PLC
12.3.10.1 Company Overview
12.3.10.2 Product Portfolio
12.3.10.3 Financials
12.3.10.4 SWOT Analysis
12.3.11 State Street Corporation
12.3.11.1 Company Overview
12.3.11.2 Product Portfolio
12.3.11.3 Financials
12.3.11.4 SWOT Analysis
12.3.12 XTX Markets Limited
12.3.12.1 Company Overview
12.3.12.2 Product Portfolio
12.3.12.3 Financials
List of Figures
Figure 1: Global: Foreign Exchange Market: Major Drivers and Challenges
Figure 2: Global: Foreign Exchange Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Foreign Exchange Market: Breakup by Counterparty (in %), 2022
Figure 4: Global: Foreign Exchange Market: Breakup by Type (in %), 2022
Figure 5: Global: Foreign Exchange Market: Breakup by Region (in %), 2022
Figure 6: Global: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Foreign Exchange (Reporting Dealers) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 8: Global: Foreign Exchange (Reporting Dealers) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Foreign Exchange (Other Financial Institutions) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 10: Global: Foreign Exchange (Other Financial Institutions) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 11: Global: Foreign Exchange (Non-financial Customers) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 12: Global: Foreign Exchange (Non-financial Customers) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 13: Global: Foreign Exchange (Currency Swap) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 14: Global: Foreign Exchange (Currency Swap) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 15: Global: Foreign Exchange (Outright Forward and FX Swaps) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 16: Global: Foreign Exchange (Outright Forward and FX Swaps) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 17: Global: Foreign Exchange (FX Options) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 18: Global: Foreign Exchange (FX Options) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 19: North America: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 20: North America: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 21: United States: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 22: United States: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 23: Canada: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 24: Canada: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 25: Asia Pacific: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 26: Asia Pacific: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 27: China: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 28: China: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 29: Japan: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 30: Japan: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 31: India: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 32: India: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 33: South Korea: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 34: South Korea: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 35: Australia: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 36: Australia: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 37: Indonesia: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 38: Indonesia: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 39: Others: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 40: Others: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 41: Europe: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 42: Europe: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 43: Germany: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 44: Germany: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 45: France: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 46: France: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 47: United Kingdom: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 48: United Kingdom: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 49: Italy: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 50: Italy: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 51: Spain: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 52: Spain: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 53: Russia: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 54: Russia: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 55: Others: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 56: Others: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 57: Latin America: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 58: Latin America: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 59: Brazil: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 60: Brazil: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 61: Mexico: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 62: Mexico: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 63: Others: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 64: Others: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 65: Middle East and Africa: Foreign Exchange Market: Sales Value (in Billion US$), 2017 & 2022
Figure 66: Middle East and Africa: Foreign Exchange Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 67: Global: Foreign Exchange Industry: SWOT Analysis
Figure 68: Global: Foreign Exchange Industry: Value Chain Analysis
Figure 69: Global: Foreign Exchange Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Foreign Exchange Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Foreign Exchange Market Forecast: Breakup by Counterparty (in Billion US$), 2023-2028
Table 3: Global: Foreign Exchange Market Forecast: Breakup by Type (in Billion US$), 2023-2028
Table 4: Global: Foreign Exchange Market Forecast: Breakup by Region (in Billion US$), 2023-2028
Table 5: Global: Foreign Exchange Market: Competitive Structure
Table 6: Global: Foreign Exchange Market: Key Players
Companies Mentioned
- 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.
Methodology
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