BUSINESS
How Has the Landscape of
LegacyFX Introduction
TRADING CHANGED?
HOW HAS THE LANDSCAPE OF TRADING CHANGED?
AS WITH VIRTUALLY EVERY OTHER ASPECT OF THE FINANCIAL INDUSTRY, TECHNICAL INNOVATIONS HAVE COMPLETELY REWRITTEN THE FUTURE OF TRADING, MAKING IT VASTLY MORE INCLUSIVE. Traditionally, trading on various financial markets, such as the FX market, were prohibitively expensive and tightly regulated. However, the passage of two bills by the Commodity Futures Trading Commission have paved the way for a more inclusive trading industry, with the Commodity Futures Modernisation Act and the Commodity Exchange Act, which have enabled a new generation of traders to take advantage of a fledgling Forex industry. For those with little experience in trading, many platforms provide handy tools and intensive training, helping beginners to build their knowledge and learn and develop the skills required to become a successful trader. In recent years, the average age of traders has fallen sharply, with hands-on Gen-Z and Millennial generation investors entering the arena, picking brokers carefully and paying attention to maintenance fees, bid/ask spreads, and commission rates. Less tech-savvy entrants can get in on the game, too, with many platforms providing round-the-clock technical support to walk them through it. Market analysts cite the advent of digital trading technology as inciting a boom unlike anything the industry has ever seen, with 5G technology adding speed and scope to make this trend even more prominent.
Less tech-savvy entrants can get in on the game, too, with many platforms providing round-theclock technical support to walk them through it.
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