Hello all,
I have couple questions please about the volume indicator and Forex.
I have found out that volume has less use in forex because forex is a decentralized market and I can only see the volume created by the users of my broker. That makes sense. So far no issues.
How come VWAP is heavily used in forex then? Especially with gold and oil CFDs. Because VWAP uses volume data right?
Can anyone please clarify?
Thank you.
Hi, maybe you can introduce yourself? 
It isn’t.
You’re right that VWAP uses volume data. That’s why people using VWAP are either trading futures, for which volume data is available, or are at the very least using futures data (available so cheaply that you could call it “almost free”) to trade CFD’s - though why anyone would want to do that is beyond me, I admit.
I don’t know whether they can.
I know for sure that a CFD/spot trading forum for beginners (where the majority of the members, bless them, appear not quite to appreciate that the “volume data” supplied by their “broker” represents only the transactions of their “broker’s” other retail clients) may not be the ideal place to ask.
You’re right, volume in Forex only shows what’s happening through your broker since it’s a decentralized market. Yet, VWAP is popular even in Forex for gold and oil CFDs because it still offers useful insights with the volume data it uses. It helps spot trends and liquidity levels, which can be super helpful, even with limited data.
Hellooo! 
I feel like Jane and Thomas have already addressed your question, but maybe checking this out might also help. 
It’s not really just a definition but also talks about how volume is used in technical analysis so it might not be completely useless.
While Forex volume data is limited, VWAP (Volume Weighted Average Price) can still be relevant in Forex, especially with CFDs like gold and oil. VWAP considers volume and price, providing insight into average price levels traded throughout the day, aiding in trade analysis.
When we trade CFD in an exchange, volume can be considered. If we trade CFD as on OTC product, volume is useless. Most volume shows by OTC broker is volume they got from liquidity provider / LP. We won’t know what the LP is. It can be a well established company or a tiny market maker.
Volume only can be used when you trade in a real market.
For trading CFDs like gold, you can follow VWAP(Volume Weighted Average Price).