What’s the forex market like in 2019?

Publication date: 22 May 2019

As regulations and limits on motivational actions are getting tighter, retail brokers are battling fiercely to catch and retain clients, and marketers have to tackle non-trivial tasks to be one step ahead of the competition. Whether a company survives and succeeds on this market or not depends on how well it manages to stand out from the crowd.

Contentworks Agency has collected key statistics on the forex market and the financial sector as a whole that will help brokers to build the right marketing strategy and to get the most of their marketing budget.

What’s the forex market like in 2019?

The global forex trading market is worth $1,934,500,000,000, and 85% of all transactions happen on just 7 major pairs GBPUSD, EURUSD, USDJPY, AUDUSD, NZDUSD, USDCHF, USDCAD. Forex trading daily volume is 53 times more than the New York stock exchange.

• Over 43% of all trades are made by millennials (people aged 25-34 years).
• Only 15% of traders are aged over 45.

Age-specific rates change constantly, but on average, the older the age group is, the less representatives it has on the forex market.

• Over 35% of traders conduct mobile searches

Moreover, the number of traders using voice-controlled virtual assistants like Siri and Alexa is growing, and brokers have to therefore optimize their content properly.

• Mobile trading is increasing

A 2018 survey revealed that mobile trading was most likely to increase from 18% to 37%, and the trend will continue gaining ground.

• 34% of millennials love social media

This generation uses social media to make a purchase decision; additionally, 84% of millennials trust social media content more than traditional advertising.

• Educational tweets get 3 times more engagement

How-to tweets that help traders to gain insight on a situation or understand trading tools get 3 times more engagement than other tweets. Images get 128% more retweets than videos, but videos get 49% more likes than images. Tweets with links and hashtags like #NYSE, #DOW, NASDAQ, #SP500 plus #Trump, #Brexit, #OPEC, and #Fed are also quite popular.

• 49% of consumers follow advice from influencers

That is how many traders consider influencers’ recommendations when choosing their broker. Influencers help to build brand credibility and reach target audience in a short period of time.

• Traders focus on 4 key events

55% of traders think that trade relations between the US and other countries will impact markets this year, 12% are banking on Brexit, 24% on China’s economic growth, and 8% on emerging markets in general.

• 95% still lose money

95% of all traders lose their initial capital, and 80% quit trading within the first two years. The major cause of failure is lack of sound research and educational content.

• 87% of marketers use video

The popularity of video content in marketing is growing exponentially that is no surprise. Marketers are getting an average ROI of 83% with such content.

• 49% of traders believe that AI can improve their trading performance

The active use of trading robots contributed to the growth of AI technologies in this sphere. 62% of respondents think that AI improves trade execution, and 68% believe that it provides more meaningful data analytics.