The History of Forex Trading

Forex trading, also known as foreign exchange trading, has been around for centuries. The first currency exchange can be traced back to ancient civilizations in Babylon and Egypt, where merchants exchanged goods and services for various types of currency.

However, the modern forex market as we know it today started to take shape in the early 1970s when countries began to move away from fixed exchange rates and towards floating exchange rates. This allowed currencies to be traded freely on the open market, leading to the creation of a global forex market.

Since then, advancements in technology have made forex trading more accessible than ever before, with online platforms allowing traders to buy and sell currencies 24 hours a day from anywhere in the world. Today, the forex market is the largest financial market in the world with an estimated daily turnover of over $5 trillion.