History and Origins of Forex Trading: A Historical Overview
Forex, known as Foreign Exchange, is an over-the-counter market for trading currencies. It is the world’s largest and most liquid financial market, with an average daily trading volume of more than $5 trillion. Forex trading has been around since ancient times, when different currencies were exchanged between nations. But the modern foreign exchange market began in the 19th century, when countries gradually switched to the gold standard. The growth of electronic execution platforms and the availability of sophisticated trading software allowed more forex traders to join the market. Now, anyone can join the forex market, with access to global markets, low-cost trading and greater liquidity. Trading forex can be an exciting activity for traders, offering the potential to make profits from movements in currency exchange rates.
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