Gitnux/Report 2026

Foreign Exchange Industry Statistics

307Statistics
91Sources
12Sections
1Visuals
48mRead
Foreign Exchange Industry Statistics
Samuel NorbergWritten by Samuel Norberg·Fact-checked by Maya Johansson
Published
How this report is researched
01Editorial Scope

Gitnux editors write the brief first: the topic, the inclusion rules, and the frame for what belongs.

02Source Research

Agents search the published record and log every extracted figure back to the passage it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 39 days

01 Industry overview

The foreign exchange industry at a glance

Foreign exchange is the world’s largest financial market, with average daily turnover reaching $9.6 trillion in April 2025, up 28% from 2022 amid heightened volatility and increased hedging activity.

$9.6T[57]
Daily turnover, 2025
28%[57]
Turnover growth, 2022–2025
89%[57]
Trades involving US dollar, 2025
75%[57]
Top four locations’ share, 2025
Market size
Global foreign exchange turnover averaged $9.6 trillion per day in April 2025, compared with $7.5 trillion in April 2022. The survey covered more than 1,100 banks and dealers across 52 jurisdictions.[57]
Market share & regions
The United Kingdom accounted for approximately 38% of global FX turnover in April 2025, followed by the United States at about 19%, Singapore at 11.8% and Hong Kong SAR at 7.0%. Together, these four locations intermediated 75% of total trading.[57]
Segmentation
FX swaps were the largest instrument segment at $4.0 trillion in average daily turnover in April 2025, while spot transactions accounted for 31% of global turnover, outright forwards for 19%, and options for approximately 6.6%.[57][83]
Key players & concentration
The market is concentrated by dealing centre rather than by a single exchange: sales desks in the United Kingdom, United States, Singapore and Hong Kong SAR accounted for 75% of global FX turnover in 2025. Inter-dealer trading represented 46%, while trading with other financial institutions represented 50%.[57]
Trends, drivers & challenges
Higher volatility and trade-policy announcements supported stronger activity in April 2025; spot turnover increased 42% and outright-forward turnover increased 60% from 2022. Emerging-market currencies reached a combined 29% share of global turnover, while settlement risk remains a challenge because non-CLS-eligible currencies represented 22% of turnover in 2025.[57]
Consumer behavior & competition
Institutional and other financial institutions were the dominant customer segment, accounting for 50% of average daily FX turnover in April 2025, up from 47% in 2022. Non-financial customers accounted for the remaining customer activity, while the US dollar was on one side of 89% of all trades.[57]
Regulation
The FX Global Code was revised in December 2024 as an international benchmark for good market practice rather than a statutory rulebook. The Global Foreign Exchange Committee reported 1,328 public Statements of Commitment by December 2024, including 37 new signatories during that year; US retail FX dealers operate within the CFTC registration and reporting framework.[19][71][84]
Latest news
The latest IMF COFER release reported total global foreign-exchange reserves of $13.22 trillion in 2026Q2, while the US dollar’s share declined to 56.70%. BIS settlement analysis released in June 2026 found that $12.2 trillion of average daily settlement involved CLS-eligible currency pairs and that 40% of this amount used payment-versus-payment systems.[85][57]

02 Ranking

Top 10 Companies in the Foreign Exchange Industry

The leading companies in the foreign exchange industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 10, 2026 · Next review December 10, 2026

Verdict

Goldman Sachs and Wise are tied at the top of Gitnux's 2026 foreign exchange ranking with an Overall score of 9.3 each.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in institutional FX dealing

    Goldman Sachs

    US

    Ranked #1 · 9.3 · Institutional FX dealing

    Why we picked it: It operates institutional FX market making and derivatives with a 37.5% operating margin signal.

    See in ranking ↓Visit goldmansachs.com ↗

  2. Leader in digital cross-border FX

    Wise

    GB

    Ranked #2 · 9.3 · Digital cross-border FX

    Why we picked it: It serves digital cross-border FX and international payments with USD 243.5 billion FY ended March 2026 volume.

    See in ranking ↓Visit wise.com ↗

  3. Leader in electronic FX brokerage

    Interactive Brokers Group

    US

    Ranked #4 · 9.1 · Electronic FX brokerage

    Why we picked it: It provides electronic multi-asset brokerage with automated FX execution across more than 175 markets.

    See in ranking ↓Visit interactivebrokers.com ↗

Pick 1 is the #1 company overall. Picks 2 and 3 are the highest-ranked companies in the top 5 that add a new segment.

Full ranking

Sort by
Top 10 companies in the foreign exchange industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Goldman Sachs

Institutional FX dealing · US

9.3
2

Wise

Digital cross-border FX · GB

9.3
3

JPMorgan Chase

Institutional FX dealing · US

9.1
4

Interactive Brokers Group

Electronic FX brokerage · US

9.1
5

Morgan Stanley

Institutional FX dealing · US

9.0
6

HSBC

Global FX, trade finance and cross-border banking · GB

8.7
7

IG Group

Retail FX and leveraged trading · GB

8.7
8

Deutsche Bank

Global FX trading and institutional markets · DE

8.7
9

Bank of America

Corporate FX, dealing and cross-border payments · US

8.5
10

BNP Paribas

European and global institutional FX markets · FR

8.2

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 10, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Samuel Norberg. (2026, November 10). Top 10 companies in the foreign exchange industry. In Foreign Exchange Industry Statistics. Gitnux. https://gitnux.org/foreign-exchange-industry-statistics/#top-companies

report visual · Comparison

Global OTC foreign exchange turnover by instrument, April 2025

FX swaps holds the largest share at 42%.

FX swaps42%
Spot31%
Outright forwards19%
FX options7%
Currency swaps2%
source-verifiedbis.org

04 Statistics

Technology & Innovation

AI and automation are moving from pilots to operations, with 80% of financial services firms reporting active AI use in 2026.

AI in the foreign exchange industry

  • 42% of North American buy-side FX respondents were already using AI in their FX operations in 2026.[1]
  • 43% of FX professionals identified machine learning for predictive analytics as a priority in 2025.[2]
  • 3% of UK buy-side FX respondents had not yet engaged with AI in 2026.[1]
  • 50% of buy-side FX respondents were actively exploring AI applications within their FX operations in 2026.[1]
  • 64% of FX professionals identified advanced data analytics and AI as a priority for addressing market uncertainty in 2025.[2]
  • 40% of buy-side FX respondents prioritized risk identification as an AI application in 2026.[1]

Automation in the foreign exchange industry

  • 50% of corporate treasuries expected AI agents to manage 25% of their FX workflow within five years, according to a 2026 survey.[1]
  • 78% of European corporates were exploring technology and platforms to automate their FX operations in 2024.[3]
  • 30% of FX respondents reported completely automated trade execution in 2022.[1]
  • 8% of corporate treasuries were piloting AI projects for FX workflow automation in 2026.[1]
  • 94% of Dutch corporates were exploring FX automation in 2024.[3]
  • 84.6% of US non-financial-institution FX volume was electronic in the latest 2026 survey.[1]

Digital Transformation in the financial services sector (sector benchmark)

  • 43% of financial services firms said they will need an entirely new technology stack to succeed in the age of AI.[4]
  • 84% of financial services firms said integrating front-, middle- and back-office systems into one platform is important in 2026.[4]
  • 80% of financial services firms reported active AI use in 2026, up from 31% in 2025.[4]
  • 26% of financial services firms reported using agentic AI in 2026, according to a global digital-transformation study.[4]
  • 27% of financial services firms reported financial benefits from AI in 2026, up from 14% in 2025.[4]

Technology Adoption in the financial services sector (sector benchmark)

  • 59% of finance leaders reported using AI in their finance function in 2025, according to Gartner’s survey of 183 senior finance leaders.[5]
  • 54% of surveyed financial services companies had deployed AI initiatives by January 2025, up from 40% one year earlier.[6]
  • About one-third of financial services companies reported using generative AI by January 2025, compared with 21% a year earlier.[6]
  • 61% of financial institutions recently adopted AI or improved their AI capabilities, based on a 2024 survey across 11 markets.[7]
  • 35% of financial institutions adopted or improved generative-AI capabilities during the 12 months covered by the 2024 survey.[7]

Cloud Computing in the financial services sector (sector benchmark)

  • 43% of banking and financial services organizations were moving toward a cloud-first analytics approach in the WNS-Forrester survey.[8]
  • 82% of financial services firms used a hybrid- or multi-cloud strategy in LSEG’s 2025 global survey.[9]
  • 91% of financial organizations had at least one cloud platform in 2023, up from 37% in 2020.[10]
  • 87% of financial services firms increased cloud investment during the two years preceding LSEG’s 2025 global survey.[9]
  • 33% of financial services firms were highly satisfied with cloud-related reductions in operational costs in Capgemini’s 2024 survey.[10]

Big Data in the financial services sector (sector benchmark)

  • 41% of surveyed bank marketers said their bank was already using data analytics to make decisions and achieve goals in 2024.[11]
  • 43% of financial services firms had adopted customer-data platforms at least partially or were scaling them, based on Capgemini’s 2024 survey.[10]
  • 11% of surveyed bank marketers were very confident in the accuracy of the data they regularly used in 2024.[11]

05 Statistics

Data & Analytics

Data integration and usability concerns persist, while 56% of smaller FX organisations focused on data integration and automating manual tasks in 2025.

Business intelligence in the foreign exchange industry

  • 6 of 11 Asia-Pacific central banks surveyed used relational databases to store FX market data in 2022.[12]
  • 7 of 11 Asia-Pacific central banks surveyed used EViews to analyse FX market data in 2022.[12]
  • 5 of 11 Asia-Pacific central banks surveyed used Microsoft Power BI to analyse FX market data in 2022.[12]
  • 6 of 11 Asia-Pacific central banks surveyed used R to analyse FX market data in 2022.[12]
  • 6 of 11 Asia-Pacific central banks surveyed used Python to analyse FX market data in 2022.[12]
  • 2 of 11 Asia-Pacific central banks surveyed used network analytics applications for FX market data analysis in 2022.[12]

Data analytics in the foreign exchange industry

  • More than 50% of 400 FX professionals surveyed globally prioritised and invested in data analytics in 2025.[9]
  • 45% of FX professionals surveyed globally identified algorithmic or high-frequency trading as a next-generation technology priority in 2025.[9]
  • 54% of 386 FX professionals surveyed globally ranked trading platforms as a technology-spend priority for the next 12 months in 2025.[9]
  • 46% of 386 FX professionals surveyed globally cited APIs and connectivity as an innovation priority for the next 12 months in 2025.[9]
  • 56% of smaller FX organisations surveyed focused on data integration and automating manual tasks in 2025.[9]
  • 44% of FX professionals surveyed globally identified AI and machine learning as a next-generation technology priority in 2025.[9]

Data Quality in the financial services sector (sector benchmark)

  • Across U.S. banking and capital markets, 86% of respondents named data access and usability as a top concern in 2024.[13]
  • Across global financial services, 36% of organizations rated their data excellent for quantity and completeness in 2024.[14]
  • Across significant European banking institutions, 32% did not apply data-quality-management principles to end-user computing in 2023.[15]
  • Across global financial services, 34% of organizations rated their data excellent for accuracy and integrity in 2024.[14]
  • Across U.S. banking and capital markets, 94% of respondents named data accuracy and reliability as a priority in 2024.[13]
  • Across banks supervised by the European Central Bank, 28% reported that all data used by critical functions came from golden sources in 2023.[15]

Data Governance in the financial services sector (sector benchmark)

  • Across 35 surveyed banks, insurers, and financial-services firms in 38 countries, 54% had adopted a semantic layer for organization-wide data governance in 2025.[16]
  • Across financial-services organizations surveyed globally, 57.1% identified BI-content testing as the top future investment in analytics governance in 2025.[17]
  • Across financial-services organizations surveyed globally, 82.9% had implemented governance policies specifically applying to business intelligence and analytics in 2025.[17]
  • Across financial-services organizations surveyed globally, 43.7% lacked a standardized certification process for analytics content in 2025.[17]
  • Across global financial services, 54% of companies rated data governance at one of the two highest maturity levels in 2024.[18]

KPIs in the foreign exchange industry

  • $1,382.4 billion was the average daily North American OTC FX volume in April 2026.[19]
  • 6.2% was the decrease in North American FX-swap volume from October 2025 to April 2026.[19]
  • 10.4% was the increase in North American spot FX volume from October 2025 to April 2026.[19]
  • 18.3% was the increase in turnover among North American other financial customers from October 2025 to April 2026.[19]
  • $22.1 billion was the year-over-year increase in USD/BRL average daily volume across North American FX instruments in April 2026.[19]
  • $1.55 trillion was the approximate daily FX value captured by CLS settlement data in 2022.[20]

06 Statistics

Strategy & Growth

FX distribution keeps expanding via digital and partner networks; Wise reported USD 243 billion of cross-border volume in FY2026.

Growth in the foreign exchange industry

  • 140% growth was reported for OFX’s European business in the financial year ending March 2024.[21]
  • £1.21 billion of revenue was reported by Wise in FY2025, 15% higher than in FY2024.[22]
  • 10.5% growth in OFX group net operating income was reported for FY2025, compared with FY2024.[21]
  • 799,700 corporate cross-currency transactions were completed through OFX in FY2025, up 24.0% year over year.[21]
  • $243 billion of cross-border volume was processed by Wise in FY2026 worldwide.[22]
  • 11.3 million active customers used Wise in the fourth quarter of FY2026, up 22% year over year globally.[22]

Differentiation in the foreign exchange industry

  • 50% was Wise’s approximate customer adoption rate for more than one product at the end of FY2025.[22]
  • 58 basis points was Wise’s average cross-border take rate in FY2025 after a 9-basis-point annual reduction.[22]
  • 71% growth in Wise other revenue reached £151.7 million in FY2025, including account and asset-related products.[22]
  • 350 correspondent banks formed the network leveraged by StoneX Payments in its 2024 NatWest collaboration.[23]
  • 31% growth in Wise card revenue reached £219.8 million in FY2025, supporting product diversification beyond FX transfers.[22]
  • 15.6 million Wise customers used cross-border services in FY2025 while the company expanded into cards, accounts, assets and interest-bearing balances.[22]

Mergers and acquisitions in the foreign exchange industry

  • 1 corporate-FX provider, GPS Capital Markets, entered an agreement to be acquired by Corpay in June 2024.[24]
  • 15 million transactions totaling more than $9 billion had been completed by AZA Finance before dLocal announced its 2025 acquisition intention.[25]
  • 1 prior acquisition, Global Trading Analytics, preceded ACA Group’s 2026 acquisition of FX Transparency in building its FX analytics business.[26]
  • £1.8 billion was the aggregate purchase price for Corpay’s 2025 acquisition of Alpha Group International, a UK and European B2B FX provider.[27]
  • $64.4 million was Marex’s initial consideration for acquiring UK FX provider Hamilton Court Group in 2025.[28]
  • 1 global online trading group, OANDA, was acquired by FTMO in December 2025 to expand its modern proprietary-trading platform.[29]

Strategic partnerships in the foreign exchange industry

  • 10 additional currencies were added to NatWest’s local-payment reach through its 2024 strategic partnership with StoneX Payments.[23]
  • 1 direct workflow to LCH ForexClear was launched by 24 Exchange with Standard Chartered as strategic partner in March 2025.[30]
  • 80 bank customers across the US, EU, UK and APAC were served by StoneX Payments in its 2024 partnership announcement with NatWest.[23]
  • 1 strategic partnership between Infinity Partnership and Aston Currency Management added treasury-management and FX services for UK accounting clients.[31]
  • 1 referring partnership between Blooms Trade and Monex USA was announced for global B2B payments in July 2024.[32]
  • 1 strategic FX partnership made Corpay Cross-Border Manchester City’s official foreign-exchange partner in August 2024.[27]

07 Statistics

People & Workforce

Work-location flexibility is high in financial services, with 52% teleworking in June 2026 and 87% reporting remote work helped balance responsibilities.

Hiring in the foreign exchange industry

  • 3,247 full-time employees worked for Freedom Holding as of March 31, 2023, across its multinational financial-services operations.[33]
  • 4,136 Wise employees worked in servicing, customer support, operations and compliance roles as of March 31, 2025, globally.[22]
  • 37% of people hired by Wise at director level and above were women in fiscal year 2025, globally.[22]
  • 1,289 Wise employees worked in product engineering, analytics, design and product roles as of March 31, 2025, globally.[22]
  • 442 part-time employees worked for Freedom Holding as of March 31, 2023, across its multinational operations.[33]

Employee retention in the foreign exchange industry

  • 35.9% of CME Group open roles were filled by internal candidates in 2025, globally.[33]
  • 74% of CME Group employees participated in its 2025 engagement survey, globally.[33]
  • 11 years was OFG Bancorp employees’ average length of service as of December 31, 2024, in Puerto Rico, the U.S. Virgin Islands and the United States.[34]
  • 32% was CLS Holdings’ total employee turnover rate in 2025, in the United Kingdom and Europe.[35]
  • 14.5% of CME Group employees were promoted in 2025, globally.[33]

Remote Work in the financial services sector (sector benchmark)

  • 52.5% of workers in U.S. financial activities teleworked in June 2026, according to the Bureau of Labor Statistics.[36]
  • 87% of U.S. financial services employees said remote work helped them balance home and work responsibilities in 2025.[18]
  • 68% of U.S. financial services workers said they would consider seeking new employment if remote and hybrid flexibility were reduced in 2023.[37]
  • Across U.S. financial services, 82% of companies offered some form of work-location flexibility in 2025.[38]

Hybrid Work in the financial services sector (sector benchmark)

  • 52% of financial services companies used a structured hybrid model in 2024, up from 41% in 2023, according to a survey of 777 companies.[39]
  • 39% of financial services companies offered corporate employees full flexibility over work location in 2024.[39]
  • 42.2% of remotely workable finance and insurance jobs were hybrid in July 2025 in the United States.[38]
  • 2.58 days was the average weekly in-office requirement among financial services companies using structured hybrid work in 2024.[39]
  • 52% of financial services companies used a structured hybrid model in early 2024, up from 41% in March 2023.[39]

Upskilling in the foreign exchange industry

  • 83% of Wise employees used Anytime Feedback in fiscal year 2025, globally.[22]
  • 100% of CLS Holdings employees received at least one learning-management-system course in 2023, in the United Kingdom and Europe.[40]
  • 34% of surveyed financial institutions identified learning and on-the-job training as a promising way to increase talent availability for 2023–2027, globally.[9]
  • 13 employee communities operated at Wise in fiscal year 2025, supporting development and inclusion across the global workforce.[22]
  • More than 120 events were hosted by Wise employee communities in fiscal year 2025 to build connections across Wise and the fintech industry, globally.[22]

Employee Engagement in the financial services sector (sector benchmark)

  • 16% of employees worldwide were actively disengaged at work in 2025.[41]
  • 20% of employees worldwide were engaged at work in 2025, according to Gallup’s World Poll.[41]
  • 31% of employees in the United States and Canada were engaged at work in 2025.[41]
  • 12% of employees in Europe were engaged at work in 2025.[41]

DEI in the foreign exchange industry

  • 97% of Wise respondents agreed that an employee-community event made them feel included and that they belonged at Wise in fiscal year 2025, globally.[22]
  • 36% of WEX board members were women as of December 31, 2022, globally.[33]

08 Statistics

Customer & Sales

Vendor switching remains limited in FX reviews, with 22% of institutional FX clients switching vendors in 2025.

Customer experience in the foreign exchange industry

  • 68% of Japanese consumers would accept a 24-hour transfer delay for stronger fraud protection in 2026.[42]
  • 32% of consumers experienced a failed or late international payment in 2023.[43]
  • 36% of U.S. remitters reported exposure to fraud in 2026.[42]
  • 69% of global remittance users said trust in a new money-movement method depends more on the provider than the technology in 2026.[42]
  • 37% of small businesses experienced a failed or late international payment in 2023.[43]

Customer retention in the foreign exchange industry

  • 53% of Australian international-money-transfer consumers who did not switch providers cited trust as the main reason in 2023.[44]
  • 85% of institutional FX clients identified areas where vendors needed improvement in 2025.[45]
  • 96% was the three-year customer-retention rate reported by an FX and payments group for the period ending December 31, 2022.[46]
  • 90% of institutional FX clients reported satisfaction with their vendors in Citi’s 2025 review.[45]
  • 7.8 million quarterly active customers used Remitly in the fourth quarter of 2024, up 32% year over year.[47]

Customer acquisition in the foreign exchange industry

  • $79.6 million was Wise’s marketing-and-sales expense in the financial year ended March 31, 2024.[22]
  • 155,000-plus new applicants were instantly approved by StoneX in fiscal 2024.[33]
  • 12 seconds was StoneX’s average processing time for instantly approved applicants in fiscal 2024.[33]
  • 19 million active customers used Wise in the financial year ended March 31, 2026, up 21% year over year.[22]
  • $106.1 million was Wise’s marketing-and-sales expense in the financial year ended March 31, 2025, up 33% year over year.[22]

Customer loyalty in the foreign exchange industry

  • 7.8 million Remitly customers were active quarterly in the fourth quarter of 2024, reflecting recurring use of its remittance service.[47]
  • $39.0 billion was held by Wise customers in fiscal 2026, up 40% year over year.[22]
  • 79.0% of primary FinTech users were satisfied with foreign-currency exchange services in 2022.[48]
  • 22% of institutional FX clients switched vendors in 2025, indicating that 78% did not switch during the review period.[45]
  • $243.5 billion was Wise’s cross-border volume in fiscal 2026, up 31% year over year.[22]

Lead generation in the foreign exchange industry

  • 136,000 actively traded FX/CFD accounts were reported by StoneX in 2025.[49]
  • 190,000 actively traded FX/CFD accounts were recorded by StoneX in 2024, up 46% year over year.[33]
  • $106.1 million was spent by Wise on marketing and sales in the financial year ended March 31, 2025.[22]
  • 33% was the year-over-year increase in Wise marketing-and-sales expense in the financial year ended March 31, 2025.[22]
  • 158,000 new FX/CFD clients were approved by StoneX in 2025.[49]

09 Statistics

Marketing & Brand

Acquisition channels skew digital, with 65% of new prospective clients generated through search-engine marketing and affiliates in 2025.

Marketing in the foreign exchange industry

  • 65% of new prospective clients were generated through search-engine marketing and affiliates by a listed FX and CFD group in 2025.[46]
  • 7.6% of revenue was spent on marketing by CMC Markets in 2024 worldwide.[50]
  • $54.2 million was spent by Plus500 on advertising, marketing and media-buying commissions in the first half of 2024 worldwide.[50]
  • $13.344 million was spent on sales-and-marketing salaries by Plus500 in 2023 worldwide.[33]
  • 13.6% of Plus500’s first-half 2024 revenue was allocated to marketing and related activities worldwide.[50]

Digital marketing in the foreign exchange industry

  • $3.776 million was spent by Plus500 in 2023 on marketing activities including online performance marketing worldwide.[33]
  • 13.6% of Plus500’s first-half 2024 revenue represented advertising, marketing and media-buying spending.[50]
  • $2.535 million was spent by Plus500 in 2022 on marketing activities including online performance marketing worldwide.[33]
  • 7.6% of CMC Markets’ revenue was spent on marketing in 2024, including digital acquisition activity.[50]
  • $54.2 million was spent by Plus500 on advertising, marketing and media-buying commissions during the first half of 2024.[50]

Branding in the foreign exchange industry

  • 27% was the share of Zurich Retail and SME markets placing the brand among their top three in HY2025.[51]
  • 43% of surveyed air travelers recognized UAE Exchange in the tested foreign-exchange brand survey.[52]
  • 56% of surveyed air travelers recognized Travelex, making it the most recognized tested foreign-exchange brand in the survey’s markets.[52]
  • 26% of respondents who recognized at least one tested brand considered Travelex a brand they would trust.[52]
  • 17% of surveyed air travelers recognized Moneycorp in the tested foreign-exchange brand survey.[52]

Social media in the foreign exchange industry

  • 18000 Facebook followers were reported for FOREX.com in December 2023.[53]
  • 59% was Pepperstone’s named share of answers in the Q3 2026 forex-and-CFD broker visibility study.[54]
  • 258 Instagram followers were reported for FOREX.com in December 2023.[53]
  • 119 forex and CFD broker brands were tracked in a Q3 2026 AI-and-search visibility study.[54]
  • 118000 Twitter followers were reported for Trading 212 in December 2023.[53]

Influencer Marketing in the financial services sector (sector benchmark)

  • 60% of financial-services marketers reported dedicated and growing budgets for creator or influencer marketing in 2026.[55]
  • 37% of banking executives in a survey of 102 finance respondents recognized influencer marketing as a potent tool for authentic consumer connections in 2023.[56]
  • 5% of financial-services marketers reported dedicated but shrinking budgets for creator or influencer marketing in 2026.[55]
  • 7% of financial-services marketers reported folding creator or influencer marketing into other channels rather than maintaining a dedicated budget in 2026.[55]
  • 23% of financial-services marketers reported dedicated but flat budgets for creator or influencer marketing in 2026.[55]

10 Statistics

Operations & Execution

Execution and settlement infrastructure determine throughput, with $14.186 trillion of FX obligations settled on an average day in April 2025.

Process optimization in the foreign exchange industry

  • $337 billion was the average daily post-netting amount requiring settlement by other means in April 2025.[57]
  • 10% to 20% of global FX spot trading was estimated to use execution algorithms, indicating substantial algorithmic process optimization.[57]
  • $1.3 trillion of FX settlement obligations were reduced through pre-settlement netting each day in April 2022.[57]
  • 60% of global FX trades were executed electronically in April 2022, according to the BIS Triennial Survey.[57]
  • 18 currencies were supported by CLSSettlement, enabling automated payment-versus-payment processing for major FX transactions.[57]

Operational efficiency in the foreign exchange industry

  • 5.9% was the increase in average daily North American OTC FX volume between October 2025 and April 2026.[19]
  • 0.3% was the increase in average daily North American OTC FX volume in April 2026 compared with April 2025.[19]
  • $2.163 trillion was the average daily FX prime-brokered turnover in 2025.[58]
  • $14.186 trillion of FX obligations were settled on an average day in April 2025.[57]
  • $22.9 trillion was the record value of FX payment instructions settled by CLSSettlement in a single day in December 2025.[20]

Quality management in the foreign exchange industry

  • $12.2 trillion of average daily FX settlement involved CLS-eligible currency pairs in April 2025.[57]
  • 32% of FX trades with non-financial counterparties were settled through payment-versus-payment systems in April 2025.[57]
  • Nearly 50% of deliverable FX turnover remained exposed to settlement risk in the earlier 2022 BIS assessment before the detailed 31% estimate.[57]
  • $2.5 trillion of daily FX turnover was settled through CLS in April 2022.[57]
  • 44% of FX trades with other financial institutions were settled through payment-versus-payment systems in April 2025.[57]

Supply chain in the foreign exchange industry

  • 83% was the international share of trading for the median emerging-market currency in April 2022.[57]
  • 68% of inter-dealer FX trading was cross-border in April 2022.[57]
  • 72% of trading in the median emerging-market currency was in derivatives in April 2022.[57]
  • 9% of global FX turnover was reported by sales desks in Singapore in April 2022.[57]
  • 4% of global FX turnover was reported by sales desks in Japan in April 2022.[57]

Outsourcing / Offshoring in the financial services sector (sector benchmark)

  • Among significant European banks, 27% of critical ICT contracts were outsourced to external providers located outside the European Union in the 2024 analysis.[15]
  • Among U.S. banks surveyed, 57% had considered outsourcing information technology departments in 2024, the highest share among listed departments.[59]
  • Among significant European banks, outsourcing services accounted for 7.2% of administrative expenses at year-end 2023, up from 6.8%.[15]
  • Among significant European banks, 67% of outsourcing contracts were sub-outsourced to external service providers in the 2024 analysis.[15]
  • Across surveyed finance organizations, 64% were implementing or evaluating offshoring or nearshoring for finance operations in 2026, while 36% planned to remain fully U.S.-based.[60]

11 Statistics

Finance & Pricing

Pricing sensitivity appears in take-rate data, with Wise’s cross-border take rate at 0.58% in FY2025.

Pricing strategy in the foreign exchange industry

  • 0.58% was Wise’s cross-border take rate in FY2025, down from 0.67% in FY2024 after price reductions, globally.[22]
  • 21% of surveyed companies used the spot rate at the time to determine FX budget rates in Citi’s 2021 treasury diagnostic, globally.[61]
  • 1 basis point was OFX’s FY2025 reduction in the consumer margin, while average transaction values increased 7.9%, globally.[21]
  • 67% was Wise’s year-on-year increase in other revenue to $194.1 million in FY2025, partly driven by higher fees on same-currency transfers and top-ups, globally.[22]
  • 40.91% of firms adjusted price lists for foreign-exchange movements only when required in the 2022 ACTA treasury survey, Australia.[62]

Cost reduction in the foreign exchange industry

  • 5.6% was OFX’s FY2025 reduction in promotion expenses, globally.[21]
  • 3.5% was OFX’s decrease in operating expenses in FY2025 after expense-management actions, globally.[21]
  • 7.2% was OFX’s FY2025 reduction in technology operating expenses, globally.[21]
  • 36% of treasury teams still used some manual processes for FX-exposure capture in PwC’s 2025 survey, globally.[63]
  • 54.5% was OFX’s FY2025 reduction in closing outstanding debt compared with FY2024, globally.[21]

Profitability in the foreign exchange industry

  • 66.0% was Flywire’s adjusted gross margin in FY2024, globally.[33]
  • 62.7% was Euronext’s adjusted EBITDA margin in 2025, Europe.[64]
  • 17% was Wise’s increase in underlying profit before tax in FY2025, globally.[22]
  • €642.9 million was Euronext’s net profit in 2025, Europe.[64]
  • $57.7 million was OFX’s underlying EBITDA in FY2025, globally.[21]

Financial planning in the foreign exchange industry

  • 35% of surveyed firms hedged forecast cash flows to mitigate FX risk in the 2022 ACTA treasury survey, Australia.[62]
  • 63% of surveyed firms hedged forecast exposures for more than six months in the 2022 ACTA treasury survey, Australia.[62]
  • 66% of surveyed firms currently used spot FX instruments for hedging in the 2022 ACTA treasury survey, Australia.[62]
  • 58% of surveyed public-debt managers had explicit foreign-currency exposure targets in the IMF’s 2024 survey, emerging and low-income economies.[65]
  • 53% of respondents used fair-value hedge accounting in PwC’s 2025 Global Treasury Survey, globally.[63]

12 Statistics

Product & Service

Instrument mix remains swap-led, and FX swaps accounted for 41.5% of FX-market turnover in the fourth quarter of 2025.

Product development in the foreign exchange industry

  • CLS FX Spot Volume reported executed intraday trades for 18 currencies in 2026.[20]
  • Wise offered three principal customer solutions in 2026: Wise Account, Wise Business and Wise Platform.[22]
  • 18 currencies were supported by CLSSettlement in 2025, covering the world’s most traded currencies.[20]
  • 33 currency pairs were included in the CLS FX Spot Volume report, which covered 18 currencies.[20]
  • Wise supported transfers in more than 40 currencies across over 160 countries in 2026.[22]

Product lifecycle in the foreign exchange industry

  • FX swaps accounted for 41.5% of FX-market turnover in the fourth quarter of 2025.[66]
  • North American spot FX volume increased 10.4% between October 2025 and April 2026.[19]
  • FX spot transactions represented just over one-quarter of global daily FX turnover in 2022.[19]
  • FX swaps accounted for approximately half of global daily FX turnover in 2022.[19]
  • North American FX-swap volume decreased 6.2% between October 2025 and April 2026.[19]

After-sales in the foreign exchange industry

  • 15 million customers used Wise across 160 countries during 2025.[67]
  • Wise customers completed 5.9 million first cross-border transactions in fiscal 2025.[22]
  • Western Union’s consumer-fraud transactions declined 45% between 2017 and 2025.[68]
  • Wise Account adoption reached approximately 50% of active customers at the end of fiscal 2025.[22]
  • Wise added approximately 100,000 new customers each week during 2025.[67]

Value proposition in the foreign exchange industry

  • Wise card revenue increased 31% to £219.8 million in fiscal 2025.[22]
  • Wise other revenue increased 71% to £151.7 million in fiscal 2025, including account and card-related fees.[22]
  • Wise customer holdings increased 29% to £17.1 billion in fiscal 2025.[22]
  • Wise moved £145.2 billion in customer cross-border volume during fiscal 2025.[22]
  • Wise supported cross-border payments for 18.9 million people and businesses in the year ended March 31, 2026.[69]

13 Statistics

Sustainability & Ethics

Sustainability reporting is material in market infrastructure providers, with CME Group reducing combined Scope 1 and Scope 2 emissions by 62% versus its 2020 baseline.

Sustainability in the foreign exchange industry

  • CME Group reduced combined Scope 1 and Scope 2 emissions by 17% in 2024 versus 2023 globally.[70]
  • LSEG served more than 44,000 customers in over 170 countries in 2024 through financial-market infrastructure, data, analytics and index products.[9]
  • CME Group reduced combined Scope 1 and Scope 2 emissions by 62% in 2024 versus its 2020 baseline globally.[70]
  • CME Group’s S&P 500 ESG index futures reached their fifth anniversary in 2024.[70]
  • 2,000 LSEG colleagues were eligible for sustainability training through the Sustainability Unlocked platform in 2024 globally.[9]

ESG in the foreign exchange industry

  • 2% of CME Group’s 2024 Scope 3 emissions came from employee commuting globally.[70]
  • 11% of LSEG employees were located in the Americas in 2024.[9]
  • 32% of LSEG employees were located in EMEA in 2024.[9]
  • 68% of CME Group’s 2024 Scope 3 emissions came from purchased goods and services globally.[70]
  • 238 metric tonnes of CME Group Scope 1 emissions were reported in 2024 globally.[70]

Ethics in the foreign exchange industry

  • 32.73% of 333 FX survey respondents said their firms were familiar with the FX Global Code in 2023.[71]
  • 61% of FX Global Code survey respondents expected, but did not require, counterparties to sign a Statement of Commitment in 2019.[71]
  • 1.2% of 333 FX survey respondents considered the Statement of Commitment ineffective in promoting Code adherence in 2023.[71]
  • 19.52% of 333 FX survey respondents rated overall FX market adoption of the Code as very comprehensive in 2023.[71]
  • 68% of FX Global Code survey respondents who used a Statement of Commitment posted it on a public register in 2019.[71]

CSR in the foreign exchange industry

  • 14% of LSEG’s workforce received a promotion in 2024 globally.[9]
  • LSEG’s colleague engagement score was 74 in 2024 globally.[9]
  • 47% of LSEG open positions filled by external candidates went to underrepresented ethnic groups in 2024 globally.[9]
  • 42% of LSEG open positions were filled by internal candidates in 2024 globally.[9]
  • $1.9 million was provided by CME Group in 2024 for higher-education, college and career-success grants.[70]

Carbon footprint in the foreign exchange industry

  • 5,157 metric tonnes of LSEG Scope 3 emissions came from waste in 2024 globally.[9]
  • 4,774 metric tonnes of LSEG Scope 3 emissions came from colleague commuting in 2024 globally.[9]
  • 338,759 metric tonnes of LSEG Scope 3 emissions came from purchased goods and services in 2024 globally.[9]
  • 430,398 metric tonnes of total LSEG carbon footprint were reported in 2024 globally.[9]
  • 30,016 metric tonnes of LSEG Scope 3 emissions came from business travel in 2024 globally.[9]

15 Statistics

Globalization & Expansion

Geographic concentration is persistent, with the United Kingdom at 37.8% of global FX turnover in April 2025.

Globalization in the foreign exchange industry

  • The United Kingdom accounted for 37.8% of global foreign-exchange turnover in April 2025.[82]
  • The US dollar was on one side of approximately 90% of global foreign-exchange transactions in April 2025.[82]
  • 68% of inter-dealer foreign-exchange turnover was cross-border in April 2025.[57]
  • Emerging-market currencies collectively represented 29% of global foreign-exchange turnover in April 2025.[57]
  • The four leading foreign-exchange dealing locations—the United Kingdom, United States, Singapore and Hong Kong—intermediated three-quarters of global trading in April 2025.[57]

Cultural adaptation in the foreign exchange industry

  • Wise’s business cross-border volume was £38.8 billion in fiscal year 2025.[22]
  • Wise customers saved approximately £2 billion in foreign-exchange and transfer costs during 2025.[67]
  • Wise’s active business customer base reached 0.7 million in fiscal year 2025.[22]
  • Wise’s active personal customer base reached 14.9 million in fiscal year 2025.[22]
  • Wise’s personal cross-border volume was £106.4 billion in fiscal year 2025.[22]

Supplier management in the foreign exchange industry

  • Wise supported more than 40 currencies through its global financial infrastructure in fiscal year 2025.[22]
  • Wise’s card transaction revenue was $280.5 million in the financial year ended March 31, 2025.[22]
  • Morgan Stanley became the first investment bank to use Wise’s global payments infrastructure for corporate cross-border settlements in 2024.[67]
  • Wise Platform covered more than 160 countries and more than 40 currencies as of 2025.[67]
  • Wise’s cross-border revenue was $1.0717 billion in the financial year ended March 31, 2025.[22]

Stakeholder management in the foreign exchange industry

  • Wise’s customer balances grew 29% to £17.1 billion in fiscal year 2025.[22]
  • Wise added 5.9 million new customers who completed a first cross-border transaction in fiscal year 2025.[22]
  • Approximately 50% of Wise’s active customers had adopted more than one product by the end of fiscal year 2025.[22]
  • Wise’s underlying income increased 16% in fiscal year 2025.[22]
  • Wise’s active customer base increased 21% in fiscal year 2025.[22]

Distribution channels in the foreign exchange industry

  • Germany’s foreign-exchange turnover increased 110% between 2022 and 2025.[82]
  • Four financial centres accounted for three-quarters of global foreign-exchange intermediation in April 2025.[57]
  • The United Kingdom’s foreign-exchange turnover increased 26% between 2022 and 2025.[82]
  • The United States’ foreign-exchange turnover increased 22% between 2022 and 2025.[82]
  • Singapore’s foreign-exchange turnover increased 60% between 2022 and 2025.[82]

Key questions about the foreign exchange industry

How large is the foreign exchange market in 2025?
Foreign exchange averaged $9.6 trillion in daily turnover in April 2025.
What growth has FX turnover shown since 2022?
Turnover grew 28% from 2022 to 2025, reaching $9.6 trillion per day in April 2025.
Which companies lead the foreign exchange industry?
Goldman Sachs and Wise are tied at the top of Gitnux's 2026 foreign exchange ranking with an Overall score of 9.3 each.
What technology shift is most visible in FX operations?
Buy-side adoption of AI in FX operations is already at 42% in North America in 2026.
How is FX trading structured across counterparties and dealing centres?
Inter-dealer trading is 46% and trading with other financial institutions is 50%, while the United Kingdom, United States, Singapore and Hong Kong SAR intermediated 75% of trading.
Which settlement mechanisms matter most for reducing settlement risk?
Payment-versus-payment systems settled $5.2 trillion of average daily FX settlement volume in April 2025.
Reference

Cite This Report

This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.

APA
Samuel Norberg. (2026, November 10). Foreign Exchange Industry Statistics. Gitnux. https://gitnux.org/foreign-exchange-industry-statistics
MLA
Samuel Norberg. "Foreign Exchange Industry Statistics." Gitnux, 10 Nov 2026, https://gitnux.org/foreign-exchange-industry-statistics.
Chicago
Samuel Norberg. 2026. "Foreign Exchange Industry Statistics." Gitnux. https://gitnux.org/foreign-exchange-industry-statistics.

Sources & references

91 sources cited across this report

  1. thefullfx.com
  2. e-forex.net
  3. cdn.treasury-management.com
  4. broadridge.com
  5. gartner.com
  6. spglobal.com
  7. finastra.com
  8. wns.com
  9. lseg.com
  10. capgemini.com
  11. bankingjournal.aba.com
  12. hkma.gov.hk
  13. deloitte.com
  14. riverbed.com
  15. bankingsupervision.europa.eu
  16. assets.contentstack.io
  17. wiiisdom.com
  18. kpmg.com
  19. newyorkfed.org
  20. cls-group.com
  21. ofx.com
  22. owners.wise.com
  23. stonex.com
  24. globenewswire.com
  25. dlocal.com
  26. acaglobal.com
  27. investor.corpay.com
  28. dsojnlf6w2v99.cloudfront.net
  29. oanda.com
  30. prnewswire.com
  31. infinity-partnership.com
  32. monexusa.com
  33. sec.gov
  34. d18rn0p25nwr6d.cloudfront.net
  35. uk.marketscreener.com
  36. bls.gov
  37. eaglehillconsulting.com
  38. cresa.com
  39. journalofaccountancy.com
  40. financialfilings.com
  41. gallup.com
  42. visa.com
  43. newsroom.mastercard.com
  44. accc.gov.au
  45. tradingview.com
  46. data.fca.org.uk
  47. news.remitly.com
  48. pymnts.com
  49. cdn.yahoofinance.com
  50. financemagnates.com
  51. csv-storage.forexpros.com
  52. ise-prodnr-eu-west-1-data-integration.s3-eu-west-1.amazonaws.com
  53. mejorbrokerdebolsa.com
  54. pipswire.com
  55. brand-news.it
  56. insight-hs.vericast.com
  57. bis.org
  58. gfma.org
  59. assets.wipfli.com
  60. grantthornton.com
  61. citigroup.com
  62. actatreasury.com.au
  63. pwc.com
  64. euronext.com
  65. imf.org
  66. doi.org
  67. wise.com
  68. westernunion.com
  69. secure.proxytrust.com
  70. cmegroup.com
  71. globalfxc.org
  72. fatf-gafi.org
  73. fca.org.uk
  74. wisbusiness.com
  75. wolterskluwer.com
  76. cpl.thalesgroup.com
  77. trustarc.com
  78. fticommunications.com
  79. stg.treasury-management.com
  80. currencysolutions.com
  81. www1.hkexnews.hk
  82. rba.gov.au
  83. data.bis.org
  84. cftc.gov
  85. data.imf.org
  86. resources.newyorkfed.org
  87. jpmorganchase.com
  88. interactivebrokers.com
  89. hsbc.com
  90. annualreport.iggroup.com
  91. wporigin.euromoney.com