Want to handle the changeable forex market? | Forum

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xysoom May 29
However, everyone is blinded by their bored appearance. In fact, they have rich historical heritage and far-reaching culture. Its rules are extremely challenging, which makes it more attractive. The forex market can be said to be the cleanest investment market: investors do not have to worry about the performance of each stock or insider trading between long and short futures. All investors see the same quotations and graphics at the same time in the world, even Warren Buffett is no exception. It is still an unparalleled financial market with an equally unparalleled size.To get more news about WikiFX, you can visit WikiFX news official website.
  Forex trading is not a fresh thing and was invented in ancient times. During the period of rabbinical Code, forex which was named “Convertor” already existed. The main function of “Convertor” was to help people who needed to exchange currency, while taking a commission as a return.
Around the 4th century AD, one monopolized forex company was controlled by the Byzantine Government.
  In 1472, the first regular bank, Banca Monte Dei Paschi di Siena, was founded at Tuscany, Italy. This bank is still running so far.In the 15th century, in order to satisfy the currency exchange requirements of textile merchants. The Medici Family opened a bank and the history trading was recorded in a special account book. This kind of account book can display forex accounts , as well as local currency accounts in foreign bank.
  From 17th century to 18th century, agents and businessman in Britain and the Netherlands had very frequent forex business.
  The history of forex trading in modern times.
  In America in 1850, a company named Alexander Brown & Sons started trading forex. This was seen as the first forex market participant. A leader of forex trading in the United States.
  In 1880, a trading system based on gold was been established. Therefore, most people consider that year as the beginning of forex trading in modern times.
  From 1899 to 1913, forex reserve had increased by10.8%. Gold reserve had only increased by 6.3%, this symbolized the forex market was getting more and more attention.
  In 1902, there were two forex brokers launched at London. In 1913, almost half of worlds forex transactions are conducted in sterling. This was of great significance to British capital market. The quantity of forex banks in British increased from three in 1860 to 71 in 1913.
  When the Federal Reserve system of the United States was established in 1914, the United States banking system began to print its own currency- Dollar.
  After the Second World War, the Bretton Woods Agreement was signed. According to the agreement, the exchange rates of currencies against Dollars can only fluctuate less than 1% above and below. But as time went by the Bretton Woods Agreement was eventually abolished, and the fixed exchange rate was replaced with a floating exchange rate instead.  1973 was a milestone in the worlds forex history. In that year, exchange rate constraints between countries and the limitation in forex trading and bank transactions were terminated. The global forex market entered an era of floating exchange rate.
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