The forex trading that we do today using trading platforms such as Metatrader or Ticktrader and other trading platforms, has not necessarily existed since ancient times. Changing civilizations and changing decades have brought changes in technology and the way people exchange things.
In ancient times, people exchanged goods for goods which was called bartering, this was done because no currency was officially used as a medium of exchange. Over time, gold coins could officially be used as a medium of exchange. However, because of this, there were many difficulties, and a currency emerged that was officially used as a medium of exchange.
At that time there was no forex trading like there is today. After the Second World War, international trade required a currency used as a standard of exchange, and the Bretton Woods agreement emerged which made the US dollar the standard of exchange backed by gold.
However, the Bretton Woods system finally collapsed, in 1970, as written in the article The Evolution of Forex Trading Platform and the Market on FXOpen blog, which ultimately led to floating currency exchanges and became the forerunner of today's forex trading.
Before today's modern forex trading, in the past only traders with a capital of at least 100,000 USD could make forex transactions for every 1 lot, they called the dealer to record the transaction. It was only after the development of technology, around the 2000s that online forex trading began to mushroom, along with the development of sophisticated technology with computers and smartphones which continue to be updated to this day.
In the past, only rich people could trade forex, now with capital of $10 you can trade forex by choosing a broker that offers a low minimum deposit of $10 such as FXOpen. Now online forex trading has become one of the online business models that many money hunters are studying through the digital world.
In ancient times, people exchanged goods for goods which was called bartering, this was done because no currency was officially used as a medium of exchange. Over time, gold coins could officially be used as a medium of exchange. However, because of this, there were many difficulties, and a currency emerged that was officially used as a medium of exchange.
At that time there was no forex trading like there is today. After the Second World War, international trade required a currency used as a standard of exchange, and the Bretton Woods agreement emerged which made the US dollar the standard of exchange backed by gold.
However, the Bretton Woods system finally collapsed, in 1970, as written in the article The Evolution of Forex Trading Platform and the Market on FXOpen blog, which ultimately led to floating currency exchanges and became the forerunner of today's forex trading.
Before today's modern forex trading, in the past only traders with a capital of at least 100,000 USD could make forex transactions for every 1 lot, they called the dealer to record the transaction. It was only after the development of technology, around the 2000s that online forex trading began to mushroom, along with the development of sophisticated technology with computers and smartphones which continue to be updated to this day.
In the past, only rich people could trade forex, now with capital of $10 you can trade forex by choosing a broker that offers a low minimum deposit of $10 such as FXOpen. Now online forex trading has become one of the online business models that many money hunters are studying through the digital world.
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