• The forex market is the largest financial market in the world
• It contains 190 different currencies
• 85% of all foreign exchange trades are conducted on just 7 currency pairs - EURUSD, USDJPY, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF
• 90% of all forex market transactions involve the US dollar
• 66% of the US currency is held abroad by individuals, governments, and foreign institutions
• 41% of all forex transactions are conducted in the UK
• 44% of forex traders are between the ages of 25-34
• The market is unregulated, as the foreign exchange market is regulated by global supply and demand for the currency being traded
• Anyone with an internet connection can trade foreign currencies
• Most forex trading transactions are carried out by individuals only

Other facts about Forex

The large number of participants in foreign exchange trading has led to many myths about forex trading in the past. It makes it easy to enter but to be successful you must master the trade tricks.

You need to trade Forex with the help of a broker. You cannot do it without them. However, not all brokers are the same. Each is different and has its credibility. You must choose a broker based on his reputation and whether you can deal with him. We have discussed how you can choose a reliable broker in our previous articles. Brokers will charge you a brokerage. You should look at the basic systems offered by the broker as well as the services.

The best strategies in foreign exchange trading are simple strategies. You need to get the strategy that suits you most and use it to make money. You will encounter many terms and strategies as you learn to trade foreign currencies. The simple strategy is one that you can explain to a high school student. If the student does not understand the strategy, it will be a bad strategy.

You should never try to overtrade. Overtrading will definitely lead to failure. Most new traders try to overtrade in excitement. This is a big mistake and should be avoided. Some new traders see the money they are making and feel that every minute they spend away from the forex market is a missed opportunity. Well, this is not the case. So, if you try to overtrade, your chances of incurring more losses will only increase. Just trade as much as you can.

Banks play the most important role in forex trading. They do about seventy percent of forex trading in one day. Deutsche Bank owns 14% of the forex trading market share, followed by Citibank and Barclays. Banks use their customers' money for the purpose of forex trading.

Main countries where trading occurs Nearly fifty percent of global forex trading occurs in two countries. It's a global market and investors from any part of the world can invest in forex trading. However, the United Kingdom is the country where thirty-five percent of global forex trading happens. The United States owns sixteen percent of global forex trading, and the rest of the global shares only fifty percent of global forex trading. Experts believe that as more and more people gain awareness about forex trading, the scenario may soon change and we may see some global players in the forex trading market.

You must wonder what it takes to succeed in forex trading. Well, discipline is undoubtedly the biggest trait of a forex trader. You need to stay calm and understand the pulse of the market. It will take about a year to master forex trading skills. That's all that is required. Don't rush and trade slowly. It's okay if you're making small profits. It's much better than incurring huge losses. Always make sure to jot down everything you learn. Read as much as you can about forex trading. Maintain a diary where you record all the trades you've made. This journal will be very useful in knowing more about forex trading.

The last thing on the list of interesting facts about forex trading is that it's undoubtedly the biggest market. About four trillion US dollars of currencies are traded in the market on a daily basis. This will help you understand just how massive the forex trading market actually is and its potential for making money. About forty percent of this comes from forex swaps. Twenty-five percent comes from spot trading. Fifteen percent comes from trade transactions and ten percent from future transactions. About five percent of forex trading comes from gaps.

We hope that this article about interesting facts about forex trading will help you better understand the concept of forex trading. These are some facts that we thought we should share with our readers. They will help you understand the size and risks associated with forex trading better."