The Forex market is becoming bigger and stronger by the day. Compared to the stock market for instance, it seems to be attracting more and more people due to various advantages. For instance it is very accessible and open 24/7. Moreover there is more flexibility and more liquidity, which many traders prefer. It is also simpler and convenient for traders and you can start with a very small amount of capital. Another advantage is that there is transaprency in spreads and as a result and low fees. Regulatory aspects have greatly improved and if one is cautious there is no need to worry about getting scammed as there are brokers who are legitimate and regulated. So all in all there is a great deal to gain from the forex market, and consequently it is attracting more traders and growing.

Just as a mater of interest
The current Forex market is worth 5.3 trillion dollars per day

It's growing because it's very attractive and accessible to practically everyone, before you needed a large amount to start trading, now there are brokers who accept starting deposits from $1

Yes the forex market is appealing and it offers various advantages so no wonder it is growing and the rate you mentioned is indeed staggering. This market is managing to attract many traders who are beginners and many who never thought they could take up trading in the first place. The forex market is also very flexible and available easily anywhere, around the clock and taht's great for someone who does not have too much time and just wants to try earning some side income.

This year has been an interesting one for forex traders all throghout the planet, covid pandemic, lockdowns and exceptional instability filled exchanging exercises and brougt about high volumes with the record breaking expansion of new dealers. the retail forex industry was confronting an extrem test before 2020 because of administrative worries across the world as organizations began announcing a dunk in volumes. A few dealers shut workplace in various pieces of the world due to administrative issues.

The Forex (foreign exchange) market is experiencing sustained growth for several key reasons. Firstly, globalization and the interconnectedness of economies have intensified international trade and investment, leading to an increased need for currency exchange. As businesses expand globally, individuals engage in cross-border transactions, and governments foster international relations, the demand for foreign exchange services rises.

Advancements in technology play a pivotal role in the market's growth. The widespread accessibility of online trading platforms and the use of algorithmic trading have attracted a broader range of participants, including retail traders. This democratization of access has significantly expanded the overall market volume.

Moreover, the Forex market operates 24 hours a day, five days a week, spanning different time zones, making it highly convenient for participants worldwide. This constant availability contributes to increased trading activity and liquidity.

The rise of emerging markets and the diversification of investment portfolios further contribute to the Forex market's expansion. Investors seek opportunities beyond domestic markets, driving demand for a diverse range of currencies.

Overall, the growth of the Forex market is a dynamic interplay of economic globalization, technological innovations, increased accessibility, and the evolving nature of international finance, making it a vital and continuously expanding component of the global financial landscape.