Online forex trading is growing. Despite a rising stock market and tougher regulation, online forex trading is becoming more and more popular., staying on the high ground it reached since the breakout of the global crisis.
Search volume of forex and forex-related keywords is on the rise. According to Google Trends, the search volume for forex has jumped as the global crisis broke out in September 2008. This marked new ground for forex. Since then, it has stayed steady and high.
The strongest countries to show growth in online forex are: Nigeria, Sweden, Malaysia, Indonesia, and Pakistan.
Forex trading volume has also risen significantly. The global crisis sent many people searching for better trading options. Currency trading enjoyed this trend. According to forex.com, the number of accounts is now 30% higher, and the number of trades is 50%. From Adam Kritzer’s forex blog:
“New accounts have increased about 30 percent a month in the last six months from pre-September levels, while the number of trades per day has risen almost 50 percent.
Also here, it wasn’t a one time peak. Forex trading volume is steady at a higher level.
The levels of forex trading remain high despite two factors that could undermine it. The first is the rise in stock prices since the beginning of the year. The biggest competitor to forex is up on its feet again. The improving stock markets don’t hurt forex, at least not now.
The second issue is tougher regulation for forex trading, especially in the US. It seems that forex brokers are finding ways to bypass the regulations, or at least keep the traders with them, despite the new rules.
I’m glad to be in this interesting and growing market 🙂Get the 5 most predictable currency pairs