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Forex Capitals

🌎Forex Capitals

Which US States and Countries Are The Best for Forex Traders?

New research has suggested that forex traders in New York can earn upwards of £104,000 a year on average, but are there more benefits alongside salaries that can make locations more attractive to traders?

The life of trading may appeal to people who want to take up a new hobby but also to those who wish to relocate, in pursuit of an exciting and modern career change that in turn allows individuals to invest in their future.

In this research, the best πŸ‡ΊπŸ‡Έ US states and countries for forex traders will be revealed, by researching countries on average salaries, number of forex jobs, and average broadband speeds, as well as revealing the states that are most interested in trading by looking at search data, and the countries with the most restrictive trading laws.

Whether you are a beginner looking to make the first step in trading or consider yourself an experienced stockholder, it’s always worth checking out the best forex brokers locally and worldwide. It can be a difficult process to find trustworthy and regulated brokers who allow traders to invest in their currency.

New York is the Forex Capital of the US

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 πŸ‡ΊπŸ‡ΈNew York

Forex Capital Score: 9.34 out of 10

New York is the number one forex capital of the US, scoring 9.34 out of 10 in the US ranking. The state that is home to the Big Apple scored among the highest for its annual searches (295 per 100,000 people) as well as forex jobs (1.87 per 100,000 people). Most notably, New York offered the highest average salary for forex traders, at almost $130,500 per year (£105,026).

 πŸ‡ΊπŸ‡ΈMaryland

Forex Capital Score: 9.03 out of 10

Maryland ranked second for the biggest forex capitals in the US, scoring 9.03 out of 10. Maryland scored the highest out of any state for its number of forex jobs (4.87 jobs per 100,000 people), topping the city metropolis that is New York. Maryland also has impressive download speeds (88 Mbps) compared to other similarly small states.

 πŸ‡ΊπŸ‡ΈHawaii

Forex Capital Score: 8.37 out of 10

The tropical state of Hawaii came third place scoring 8.37 out of 10 in the ranking. Hawaii scored high for its annual searches for ‘forex traders’ indicating that there is considerable interest in foreign exchange within the state (288 searches per 100,000 people). There were also more forex job vacancies in the state compared to some of the more populous states (2.71 jobs per 100,000).

Singapore is the Forex Capital of the World

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Forex Capitals

πŸ‡ΈπŸ‡¬ Singapore

Forex Capital Score: 10 out of 10

Singapore is the number one forex trader country in the world, scoring 10 out of 10 in the global ranking. Singapore has been regarded as a safe harbour for investors, as it is one of the few countries in the world with a triple-A sovereign credit rating and strong current account surplus, as well as positive foreign currency reserves. Aspiring forex traders in Singapore can now start trading foreign currencies without worrying about potential legal limitations, which is why Singapore received a forex legality score of 3 out of 3.

Singapore’s inflation rate was higher than any other country in our top five, and it accelerated to 5.7% year on year, compared to market expectations of a 5.5% YoY gain. The unexpected rise could be an indication that inflation will be sticky in the coming months as resilient domestic demand supports prices. 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.

πŸ‡¨πŸ‡³ Hong Kong

9.55 out of 10

Hong Kong scored second in the global ranking with a score of 9.55 out of 10. Hong Kong does not have any foreign exchange control, and there is no restriction on entry or repatriation of capital or remittance of profits from investments, meaning the country could be a great option for investors to relocate to. 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 (£45,305), which is lower than other countries’ salaries in our top three but topped many other locations.

πŸ‡¨πŸ‡­ Switzerland

Forex Capital Score: 9.09 out of 10

Switzerland came third place for the biggest forex capital countries, scoring 9.09 out of 10 in the ranking. Switzerland scored the highest for its average forex trader salary at $138,282 per year (£111,381). Swiss salaries are amongst the highest in the world which reflects the high cost of living and an attractive tax rate.

Broadband speeds in Switzerland are among the fastest compared to other countries (88 Mbps), and interest in forex trading was reflected in the country’s annual searches (203 searches per 100,000 people). Switzerland received a score of 2 out of 3 for its forex legality, as fx brokers must become authorised by the Swiss Financial Market Supervisory Authority (FINMA) before they can operate in the country.

South Africa Has the Greatest Interest in Forex Trading, With 545 Annual Searches per 100,000 People

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πŸ‡ΏπŸ‡¦South Africa

Annual Searches per 100,000: 545

South Africa is the country searching for forex trading the most, with 326,300 annual searches recorded in 2022, which is equivalent to 545 searches per 100,000 people.

πŸ‡¦πŸ‡ͺ United Arab Emirates

Annual Searches per 100,000: 544

Following closely behind is the UAE, with 51,400 annual searches that are equivalent to 544 searches per 100,000 of the population.

πŸ‡ΈπŸ‡¬ Singapore

Annual Searches per 100,000: 490

Singapore had the third highest interest in forex trading, with 29,300 yearly searches, equivalent to 490 searches per 100,000 people.

Singapore Offers the Most Forex Trading Jobs in The World, With 12.89 Jobs per 100,000 People

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πŸ‡ΈπŸ‡¬ Singapore

Forex Exchange Jobs per 100,000: 12.89

Singapore had the most foreign exchange job listings according to Indeed, with a total of 770 jobs, equivalent to 12.89 jobs per 100,000 when compared to its small population of almost six million people.

πŸ‡«πŸ‡· France

Forex Exchange Jobs per 100,000: 6.04

France followed behind Singapore with a total of 3,905 jobs in the foreign exchange market, equivalent to 6.04 jobs per 100,000 people.

πŸ‡¨πŸ‡³ Hong Kong

Forex Exchange Jobs per 100,000: 0.68

Hong Kong came third place for its forex jobs, with 51 jobs, equivalent to 0.68 (per 100,000) of the population.

Switzerland Offers Highest Salary For Forex Traders, Earning Over $138,000 per Year

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πŸ‡¨πŸ‡­  Switzerland

Forex Trader Average Annual Salary: $138,282

Switzerland offered the highest average salary to forex traders at $138,282 per annum ( £111,381). A report by OECD shows that the average annual salary in Switzerland in 2020 was around CHF 60,600 (£53,726) and points out that the average annual wage has remained steady over the last ten years. 

πŸ‡ΊπŸ‡Έ United States

Forex Trader Average Annual Salary: $97,417

The United States had the second highest average salary for forex traders, at $97,417 per year (£78,462). In general, wages in the United States tend to be higher than those in Europe, particularly for skilled and high-paying jobs. The cost of living in the US is considerably higher than other countries on our list.

πŸ‡ΈπŸ‡¬ Singapore

Forex Trader Average Annual Salary $92,694

Singapore ranked high once again for its forex trading factors and came third in the ranking for its average annual salary. Forex traders in Singapore earn, on average, $92,694 a year (£74,659).

Pakistan Records Highest Inflation Rate at 38%

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πŸ‡΅πŸ‡° Pakistan

Inflation Rate (May 2025): 38%

Pakistan recorded the highest inflation rate in May 2025 when compared with all the countries analysed. Pakistan suffered a horrific bombing attack in January 2025, which took at least 100 lives. By the end of February, Pakistan’s rupee hit a record low against the US dollar.

πŸ‡΅πŸ‡± Poland

Inflation Rate (May 2025): 13%

Poland had the second-highest recorded inflation rate at 13% in May 2025. There are two main causes of inflation; one is an increase in gas prices by several hundred percent and an increase in CO2 emission prices. The first caused an increase in fertiliser prices, and the second, a surge in energy prices.

πŸ‡¦πŸ‡Ή Austria

Inflation Rate (May 2025): 8.8%

Austria placed third for the countries with the highest inflation, recording 8.8% in May. according to a Der Standard report, the main reason for the inflation is that policymakers in Austria have primarily refrained from intervening in the market, such as halting energy and rent prices. Instead, the federal government chose to send money to households to pay out higher costs.

Qatar Records Fastest Broadband Speeds in the World, at 190 Mbps

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πŸ‡ΆπŸ‡¦ Qatar

Median Download Speeds (Mbps): 190

Qatar recorded the fastest median download speed at 190 Mbps. According to a recent study by Statista, as of April 2025, Qatar had the fastest average mobile internet connection worldwide.

πŸ‡¦πŸ‡ͺ United Arab Emirates

Median Download Speeds (Mbps): 175

The United Arab Emirates is another country in the Middle East leading the way in its rapid broadband speeds. The UAE recorded the second-highest median download speed at 175 Mbps.

πŸ‡³πŸ‡± Netherlands

Median Download Speeds (Mbps): 109

The Netherlands came third place in the ranking with a median download speed of 109 Mbps. The Netherlands is part of the top 20 countries in the world with the fastest internet connections. The Dutch government recognises the importance of a fast internet connection for every citizen.

Expert Tips on How to Start Forex Trading

Understanding forex terminology

Trading forex seems like a daunting task for many beginner traders, but by learning the basics of the terminology, traders can slowly begin to understand how forex works. By learning these terms, beginners can move on to practice trading by making use of demo accounts.

Follow the regulations

Regulated brokers have strict rules in place which must be followed at all times, according to their regulatory entity. By choosing a regulated broker, traders can be sure that their funds are kept safe as these brokers must keep funds in segregated accounts. Traders must also ensure that their broker is a member of a compensation scheme, which ensures that they are covered should the broker go bankrupt.

Consider the fees

Each broker will have its own fees, spreads and commissions which are charged as payment for rendering services. Each broker is different, which is why traders must vigorously research brokers to find one that is suitable for their financial needs.

Fees that traders can expect include, but are not limited to:

  • Minimum initial deposits
  • Spreads
  • Commissions
  • Inactivity fees
  • Account maintenance fees
  • Deposit fees and withdrawal fees, and more.


Think about leverage

All brokers offer leverage to traders, and it is essentially a loan that the trader takes to enable them to open larger positions to enhance their chances of greater profits. These leverages that are offered differ from one broker to another and are dependent on the broker’s regulatory entity. Although leverages enhance the chance of profits, in turn, they can substantially increase risks when used incorrectly and can lead to losses.

Review the trading platform

Trading platforms are software used to conduct trading activities, and they are all different, so finding the right one requires further research and testing. It is important that traders explore a broker’s offering in its entirety. Trading platforms also allow for the development, testing, and utilization of trading strategies, as well as provide the tools necessary for technical and fundamental analysis to be conducted.

Methodology

Global data:

To collect the list of countries, we used Indeed Jobseeker’s worldwide page. As we could only record the average salary on Indeed with the countries on this page.

Every country’s number of jobs was recorded from Indeed. This data is accurate as of 17/05/2022. For France, “forex” was translated into the French word to take an accurate result. When translating the search term “forex” into other languages, it translated to the same word for many languages.

The average salary for a forex trader was also taken from Indeed.

Annual searches in every country for ‘forex trader’ were taken from Google’s Keyword Planner between January 2022 and December 2022.

The median download speed (Mbps) for every country was taken from the Speedtest Global Index. The speed was rounded up to the nearest whole number.

Every country with sufficient data was recorded with their inflation rate, taken from Trading Economics for the period of April/May 2025.

To give each country a forex legality score out of three, each country was researched, giving a score out of 3. Countries scored 1 if forex trading is banned, 2 if it is legal with restrictions and 3 if it is fully legal.

US data:

Every state’s number of forex trader jobs was recorded from Indeed. This data is accurate as of 17/05/2022.

The average salary for a forex trader was also taken from Indeed. This data is accurate as of 17/05/2022.

Annual searches in every state for ‘forex trader’ were taken from Google’s Keyword Planner between January 2022 and December 2022.

The median download speed (Mbps) for every state was taken from BroadbandNow’s Best & Worst States for Broadband 2025.

For both sections, each country/state was given a normalised score out of ten for each factor, before an average of these scores was taken.