> Forex market are highly leveraged Not really: spot and outright forwards are about $3tn of daily turnover in the OTC forex markets; with forex swaps amountin

> Forex market are highly leveraged Not really: spot and outright forwards are about $3tn of daily turnover in the OTC forex markets; with forex swaps amounting to about another $3.2tn. There is about $100tn notional of OTC forex derivatives outstanding, but the actual total market value is only about $2.2tn. Exchange-traded forex futures and options have barely $170bn of daily average turnover of notional. (all numbers courtesy of the Bank for International Settlements)