The Origins of the Modern Forex Market

The Origins of BUSINESS

LegacyFX Introduction

THE MODERN FOREX MARKET

THE ORIGINS OF THE MODERN FOREX MARKET The practice of exchanging one asset for another dates back centuries. However, the modern Forex market is only as old as the internet.

It was only when access to the internet became widespread that opportunities for retail investors and day traders became a reality.

The Bretton Woods System The entire practice of exchanging foreign currencies shifted drastically in 1971, when the Bretton Woods system was effectively ended. This was the first time that currency values were allowed to float freely against one another. In a market where the individual values of currencies could change depending on which currency they were being traded with, new opportunities arose for commercial and individual investors.

Forex Trades In the current Forex market there are three basic markets for trades: the forwards market, the spot market and the futures market. The spot market is the largest and attracts the highest volume of trades.

You can learn about some essential aspects of Forex trading strategies by visiting the blog of online trading platform LegacyFX.