NEW YORK — The global market for foreign exchange trading is booming.
According to the Global Market Insight, which tracks the performance of the global foreign exchange marketplace, foreign exchange trades accounted for over 10% of the overall foreign exchange trade volume in 2015.
The number of foreign exchange traders increased from a total of approximately 2,000 in 2008 to nearly 3,000 today, with the market continuing to expand.
Foreign exchange trading accounted for about $7.7 trillion of the $11 trillion in global trade in 2015, according the report.
That number is expected to grow as the economy recovers from the financial crisis.
This year, the market is expected the foreign exchange industry will grow by over 60% as the global economy continues to recover from the economic downturn, according a Goldman Sachs report.
For many, foreign exchanges are seen as a safer and more convenient way to earn money and are often used to hedge against foreign exchange volatility.
In some countries, such as the United Kingdom, this practice has been illegal, and trading in foreign exchange is not permitted.
But in countries like Australia, Switzerland and India, foreign currency trading is legal.
There is a growing awareness of the dangers of foreign currency manipulation and trading.
While the trading in and trading of foreign currencies has grown rapidly over the past two years, the volume of foreign trade has not kept up.
The Global Market Insider reported that, for the first time in nearly a decade, the global market will account for nearly 9% of all international trade.
It is an increase of over 30%.
The global foreign currency market is growing faster than any other industry in the global financial system.
For a number of reasons, the foreign currency markets are expected to continue to grow and to continue growing in size, which is creating an economic boom.
As a result, the value of the total market has more than doubled since the end of 2008.
Wealthy investors are now pouring money into foreign exchange markets.