Singapore has been named the forex capital of the world – with average salaries of $92,694.

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28, Jul 2023
Singapore has been named the forex capital of the world – with average salaries of $92,694.
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New research by Forex Suggest reveals the best countries for forex traders, by researching average global salaries, number of forex jobs, and average broadband speeds per country, as well as the countries with the most restrictive trading laws.
The 10 best countries for Forex Traders:

Rank

Country

Annual Searches per 100,000 People

Forex Exchange Jobs per 100,000 People

USD

Inflation Rate

Median Download Speeds (Mbps)

Forex Legality Score /3

Forex Capital Score /10

1

Singapore

490

12.89

$92,694

6

72

3

10.00

2

Hong Kong

133

0.68

$56,410

2

53

3

9.55

3

Switzerland

203

0.57

$138,282

2

88

2

9.09

4

Portugal

106

0.40

$27,837

4

69

3

8.64

5

United States

232

0.03

$97,417

4

80

2

8.18

6

Australia

345

0.31

$73,602

7

80

2

7.73

7

Canada

277

0.13

$40,611

4

93

2

6.82

7

Netherlands

325

0.15

$36,463

6

109

2

6.82

9

United Arab Emirates

544

0.00

$18,230

3

175

2

6.36

10

Qatar

278

0.00

$19,867

4

190

2

5.91

  • Singapore is the number one forex trader country in the world, scoring 10 out of 10. Singapore recorded among the highest search volumes for forex trading (490 per 100,000 people) and had the most trading jobs (12.89 per 100,000 people) compared to any other country.

  • Hong Kong is the second best country for forex traders, scoring 9.55 out of 10. Hong Kong scored high for its availability of forex jobs (0.68 per 100,000 people) compared to other countries. The average forex trader salary in Hong Kong is $56,410, which is lower than other countries’ salaries in our top three but topped many other locations.

  • Three APAC countries made the top 10, scoring highly as good destinations for forex traders. The other APAC countries that missed out on top 10 were Malaysia (12th with a score of 4.55), Indonesia (19th with a score of 1.82), The Philippines (20th with a score of 1.36), India (22nd with a score of 0.45) and Pakistan (23rd with a score of 0).

Further Insights:

  • South Africa has the highest annual searches for ‘forex trader’ with 326,300 annual searches recorded in 2022.

  • Switzerland offers the highest salary for forex traders, earning over $138,000 per year.

  • Pakistan records the highest inflation rate at 38%.

  • Qatar records the fastest broadband speeds in the world, at 190Mbps.

  • New York is the number one forex capital of the US, scoring 9.34 out of 10 in the US states ranking.

You can view the full Forex Capitals report here.

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