HK is fourth place in the best market for FX traders rankings

It was bested by China, Japan, and its economic rival, Singapore.

Hong Kong posted $694b in the net-gross turnover of OTC foreign exchange instruments, making it the fourth in the rankings for the best market for FX traders, a City Index study showed.

The market’s broadband speed is 145.32 mbps and it ranked 12 for cost of living.

Its economic rival, Singapore, was at the top with a $929b turnover of OTC FX instruments. Next is China ($153b) and Japan ($433b). 

According to City Index, China enjoys a high market overlap score of 9.02/10 for how its time zone aligns with four key markets. 

China also has a fast average broadband speed of 156 Mbps, which is over double the average internet speed in Vietnam (74.39 Mbps).

In May 2023, City Index created a points-based index system that evaluates the net gross turnover of forex instruments by the market in billions of US dollars in 2022.