In case you missed it … Here’s a post all about you, [insert name here]!

In case you haven’t heard, the global Forex market is growing. Actually, more like exploding. As with any growing trend, market researchers seek to study and better understand the motivations of the people participating in this financial phenomenon.

Recently, some 3,000 Forex traders participated in a survey of what makes them tick. The full results (and there are some pretty neat stats in there) can be found here, but here are the bits that caught our attention in particular:

  • Does this sound like you, Joe Forex Trader?

    63% of traders surveyed say they trade currencies exclusively, another 37% throw in other asset classes into their investing mix.

  • 77% of you are new to the game, with 1 to 5 years under your belt.
  • The overwhelming majority (91%) are individual traders; there aren’t so many institutional or money managers in this bunch.
  • 84% of these individual traders are charting their next moves from home. Which begs the question: what does your boss think about you spend 16% of your workday tracking currencies? We won’t tell.
  • Just about one-third are following the markets and news using a mobile device. Not too shocking (except that it’s actually lower than we expected). Who isn’t 100% connected 98% of the time these days?

These findings are just one example in a recent move to better understand the inner psychological (and technological) profile of the Forex trader. Identifying these characteristics is crucial in this growing, increasingly social financial market. Need we remind you - $4 trillion traded daily. Everyday. Think about that for a moment.

All this talk about research and insights inspired us to do our own market study. We wanted to explore the Currensee community as a microcosm of the great Forex population, and the results were astonishing:

  • Photo by Matthew Field

    If Currensee were a country, it would be larger than Monaco.

  • We’d also be just slightly smaller than Liechtenstein. A recount is in the works.
  • To represent the Currensee population visually, our little social network would fill the Tokyo Marathon. This is great news, because I don’t know if you know this about us, but we’re runners too!

Our research results can be audited here. We believe our methodology to be ironclad.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

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