US Forex market leads in mobile trading, but is shrinking

Investment Trends research confirms our recent reports — that the US forex industry is getting smaller, and more concentrated.

Australia based forex industry research firm Investment Trends has just come out with their US forex market report for 2013. Most of the key findings of the report will be familiar to our readers, with perhaps one surprise — US forex traders are the most ‘mobile’, with more than two thirds of US forex traders having traded using a mobile device (phone or tablet) in the past year. A further 19% of US forex traders said they would probably start trading via mobile in the next year. The two-thirds mobile figure topped UK spread betters (63% mobile) and German CFD traders (60% mobile).

About 4% less Americans traded forex this year than last. Again, that should not be surprising to our readers, as we’ve documented the rapidly consolidating and  shrinking US forex industry over the past year or so.

Another interesting note from the report is the high level of trader satisfaction with US forex brokers. According to Investment Trends, fully 88% of online traders rated their main forex broker as ‘good’ or ‘very good’, with just 2% giving a ‘poor’ or ‘very poor’ rating. Traders assessed their main broker across a range of twenty-one areas including functionality, price and service. FXCM — which according to Investment Trends has an approximate 25% share of the US forex market, had the highest overall client satisfaction.

Leading the march in the US retail forex market are:

To download the Investment Trends press release re the US Forex market report click here. (pdf).

Previous Investment Trends reports have covered the France forex and Singapore forex sectors.

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.





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