Forex Industry Statistics & Trader Results
The results from our Forex industry survey where we surveyed traders from around the world are in.
We have taken more than 400 trader results from 49 different countries around the world, looked at the statistics and complied a detailed report for you below on what traders are doing right now.
We have broken the results up into three main categories;
#1: Who is Trading Forex
This section looks at who a trader is on average, their age, profitability, how long they have traded, and what markets they are trading.
#2: What Traders Are Doing in Their Trading
This section looks into what traders are doing in their trading, or plan on doing in their trading.
#3: Profitable Versus Unprofitable Traders
What are the major differences between what a profitable and unprofitable trader is doing and plans to do in their trading.
A few of the important findings of this report we will discuss more fully below;
#1: Who is Trading Forex
Average trader age: 49% Aged 25 – 44, with 9% 65 or older
Profitability: 37% either breaking even or profitable and 63% unprofitable. 15% profitable.
Do traders have any other trading experience before Forex, for example stocks? 72% had no experience trading any other markets before trading Forex.
How long have traders been trading for? 39% have traded for 1-3 years. 31% have been trading for 12 months or less and 7% have traded for over 10 years.
Are traders trading live or demo account? 70% of traders trade on a live account.
What attracted traders to trading the most? 40% of traders wanted to be their own boss with their own rules.
What markets do traders trade? (Note: this was multiple choice asking to choose all markets traded).97% of respondents trade Forex. 43% Gold. 24% stock indices and 9% cryptocurrencies.
What trading platforms are used the most?: (Note: multiple choice question asking all platforms used). 85% trade with MT4. 6% MT5. 5% cTrader and 23% use other.
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#2: What Traders Are Doing in Their Trading
Do traders aim for a higher win rate, or a higher risk reward (bigger winners)? 64% of traders aim for higher win rate trades.
What do traders plan to study and focus on in the coming months? 43% of traders plan on improving their trade rules and plan, with 30% looking to find better trade entries.
On ‘average’ how many trades do traders make each month? 41% of traders make 9-20 trades per month. 35% make 4-8 trades per month and 14% make over 30 trades per month.
How many strategies have traders tested – including; price action, indicators, bots/EA’S? 26% of traders have tested 6 or more, whilst a further 38% have tested 3 or more.
What time frames do traders make their trades on? (NOTE: Multiple choice question asking all time frames used). 66% of traders use the daily charts whilst 48% use the 1 hour charts.
In the last 12 months what have traders purchased to help speed up their learning time in the markets? 47% have not bought anything to help their trading (including books or trade testers). 53% have purchased either courses, books or strategy testers.
During the trading week where do traders spend most of their time online? 50% of traders spend their time online reading lessons and watching videos, whilst 8% are part of a group or tribe.
How many hours per day do traders spend with their charts and trading? 45% of traders spend 1-2 hours a day trading, whilst 14% spend 6 hours or more.
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#3: Profitable Versus Unprofitable Traders
This is what we know about the profitable traders and what they do differently;
Time Frames Most Commonly Used
Profitable Traders: 72% of traders use daily charts.
Unprofitable Traders: 62% of traders use daily charts.
‘Average’ Amount of Trades Each Month
Profitable traders are making 16 trades on average.
Unprofitable traders are making 15 trades on average.
NOTE: As you can see, both sets of traders are making almost the same amount of trades (which shows it is both the trades and how they are managed that are crucial).
How Much Experience Do Profitable and Unprofitable Traders Have
Profitable Traders: 5.4 years
Unprofitable Traders: 2.5 years
How Many Hours Per Day Trading
Profitable Traders: 3 hours
Unprofitable Traders: 3 hours
How Many Strategies Tested
Profitable Traders: 3
Unprofitable Traders: 4
Interesting to note that profitable traders on average had actually tested less systems, strategies, EA’s and other methods.
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Conclusion
After taking the time to analyse and create this report, we have found that a lot of the statistics were as expected, such as just how widely used MT4 still remains, or that the daily charts are incredibly popular.
Some stats however have been quite interesting to discover. Learning just how many strategies are tested on average, the amount of time traders spend on their trading, and that profitable traders on average have almost twice as much experience as unprofitable traders.
Let me know your thoughts or questions below in the comments section.
Safe trading,
Johnathon
