CompareForexBrokers statistical forex analysis of the Bank for International Settlements’ 2025 BIS Triennial Survey shows the global foreign exchange market remains concentrated in five financial centres, being the UK, US, Singapore, Hong Kong, and Japan. Together, these major trading hubs account for 79% of all daily forex transactions worldwide.
The UK is still the largest centre, handling 38% of global FX turnover in 2025. That is down from 43.1% in 2019, but largely unchanged since 2022. London continues to clear more than a third of global trades, supported by its depth of liquidity and role in pricing and risk transfer for global institutions.
The US has grown its share to 19%, up from 16.5% in 2019 and 17.9% in 2022. Dollar liquidity, together with the US position in derivatives and prime brokerage, keeps New York central to execution, even as more flows shift into Asia.
Singapore has made the biggest gain, rising to 11.8% in 2025 from 7.6% in 2019 and 9.0% in 2022. “Singapore has clearly established itself as Asia’s forex trading hub,” said Justin Grossbard, co-founder of CompareForexBrokers. “Growth in North Asia and ASEAN trade, alongside hedging tied to electronics and commodities, has pulled more execution into Singapore, while some activity that previously ran through Hong Kong has also shifted there.”
Hong Kong held steady at 7%, slightly lower than its 7.6% share in 2019. Despite political and economic pressures, it remains a key channel for China-related financing and trade. Japan rounds out the top five at 4%, down from 4.5% in 2019. Tokyo is still important for yen liquidity, but more Asia risk is now being managed from Singapore.
These hub shifts come as overall market activity continues to expand. Global daily turnover reached $9.6 trillion in April 2025, up 28% from $7.5 trillion in 2022, which annualises to $3.5 quadrillion.
“Where trading is executed is changing alongside what is traded,” said Grossbard. “The rise of USD/CNY to 8.1% of global turnover has reinforced Asia’s growing role, and that is showing up directly in Singapore’s market share. London and New York remain the anchors, but the centre of gravity is moving closer to Asia.”
About CompareForexBrokers
CompareForexBrokers is a leading global forex broker comparison site, analyzing more than 70 CFD providers against a detailed set of criteria outlined in its independent methodology. Founded in 2014, the platform helps traders make informed decisions by offering transparent, side-by-side broker comparisons. The site is co-owned by Justin Grossbard, who has led the business since its inception. Grossbard has written for Forbes, Kiplinger and Entrepreneur, and holds a master’s degree. For more information, visit www.compareforexbrokers.com.
Media Contact
Justin Grossbard
Co-owner, CompareForexBrokers
justin@compareforexbrokers.com
