How Many Forex Traders Are There in 2024?

Today, you can manage your finances from your home with a mobile phone. It’s so simple; technology has contributed to the ease and speed of all processes and transactions, from paying bills to taking loans. It is much easier to become a trader today than 30 years ago. Traders need internet access, free software, and a broker’s account before trading can begin.

But, because of new technology, today it is tough to calculate the number of forex or stock traders (read our articles to see how many stock traders there are)

How Many Forex Traders Are There

How many traders are in the world?

In 2024., there will be 14.7 million active online traders, according to extrapolation of data and Professor Robert’s study and research papers. Based on this number, there is one trader in every 561 people, usually males between 25 and 50 years old.

Please watch the video that I created for this topic on YouTube:

In the previous studies, there were around 13.9 Million online traders worldwide according to “The Modern Trader” report and BIS, released by Broker Notes in the latest report; in a 2014 study by Bapi Maitra, Citigroup expert, there are 4 million retail traders globally.

Activity in the forex market has increased dramatically after 1970. Based on the information provided by the Bank of International Settlements, the daily trading volumes, on average, increased from approximately 1.2 trillion in 1995 to 5.1 trillion 21 years later. This makes it the most significant financial market in the year. While banks and large financial organizations contributed to a considerable part of the trading volumes, more customers can trade in forex using the latest technologies. The online trading platforms developed by forex brokers are simple, easy, and available worldwide. Many would like to find out How many forex traders are there? Research indicates that approximately 9.6 million people are trading in forex online.

Interestingly, 40% of all forex traders (because retail traders) are day traders. There are around 5.8 million day traders in the world. You can read this fact in our article about how many day traders are there.

How many traders are there per continent:

Continent/RegionApprox. number of online traders
North America2170500
Middle East1403590
South America868200
Central America484745

number of traders in the world per continent

How many forex traders are in Europe?

There are 1.5 million to 2 million traders in Europe. The number of European online traders is 1.5 million (2023. ), and the ratio of traders to internet users is 1:434

RankCountryApprox. number of online traders
1United Kingdom405160
17Czech Republic31834

Location of online traders

Forex trading is a global business, and brokers have gotten permission from regulators in many countries. In other cases, they have arranged to promote their services outside their home country. Research indicates that one-third of the forex traders are based in the Middle East and Asia. This number exceeds more than one million European and North American traders’ populations. Though London, the UK, and New York in the USA are the major forex trading centers, forex traders are found worldwide.

Internet users and forex trading

At present, anyone can become a forex trader with an internet connection. Most trading platforms are designed for mobile phone access, so personal computers are not required. There are 3.8 billion who use the internet worldwide, so 1 in 396 is an online trader. The US has 320 million people using the internet, and research indicates one trader for every 213 online traders. A 2014 Aite group study suggested that a quarter of internet users in the USA who are adults might have tried online trading. The number of European online traders is 1.5 million, and the ratio of traders to internet users is 1:434

Though Asia has the highest number of internet users at 1.9 billion, the proportion of online traders is lower at 3.2 million, for a ratio of 1:594 users. Though Africa has only 388 million people with internet access, it has 1.3 million traders online for a higher trader-user percentage of 1:298. The Middle East has the highest trader-to-user ratio of 1:152, with 147 million people with internet access. The predominantly Muslim online traders in North Africa and the Middle East face a problem since gains from trading; Riba is not allowed according to Islamic law. The forex accounts that have open transactions after trading hours are subjected to fees that may be credited or debited.

Since these fees are considered usurious, restrictions are imposed on currency trading so that currency exchange will comply with Sharia law. Many brokers have noted these restrictions to offer trading accounts complying with Islamic rules. Selling and buying currency is immediate for these accounts, and no interest is paid. This region has more traders since Muslim traders can trade in foreign currency while complying with their religion.

The UK, European traders

Statistical data indicates that the UK has 46 million people with internet access; the number of online traders exceeds 280,000 for a trader: uShariatio of 1:164. Britain has the highest number of online traders in Europe. Regulatory changes in Europe regarding leveraged products like CFDs and Forex have reduced the number of forex traders. France and Holland do not allow leveraged products, the Cyprus regulator has restricted leverage to specific customers, and Belgium has imposed a total ban on leverage for forex.

Though the UK Financial Conduct Authority(FCA) has considered controlling the leverage, no changes have been implemented. As a result, UK traders can trade on margins, making only small deposits. Since the salary of more than 50% of UK online traders is more minor than GBP 35000, this margin trading is beautiful. Though Bafin, the German regulator, has implemented changes to protect users from negative balances, German forex traders’ trading volumes remain low, slightly more than half the UK trading volume. Though the internet makes traders from different countries and faiths trade in forex, the UK has some of the highest volumes for forex trading.

Read more about the richest trader in the world in our article.


There is no definitive answer to this question, as many factors can influence the number of active forex traders worldwide. These factors include economic conditions, technological advancements, and social trends. However, based on the data from Professor Robert’s study and research, we can estimate that there will be approximately 14.5 million active online forex traders in 2023. This suggests that there is one trader for every 561 people, with most of these traders being males between the ages of 25 and 50. While this estimate may not be entirely accurate due to various potential variables, it provides valuable insight into the current state of global forex trading and its potential growth in the coming years.

Please read our article about the list of forex prop firms.



Igor has been a trader since 2007. Currently, Igor works for several prop trading companies. He is an expert in financial niche, long-term trading, and weekly technical levels. The primary field of Igor's research is the application of machine learning in algorithmic trading. Education: Computer Engineering and Ph.D. in machine learning. Igor regularly publishes trading-related videos on the Fxigor Youtube channel. To contact Igor write on:

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