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    The Evolution of Modern Forex Market

    Abstract:It was not until the establishment of the Federal Reserve System in 1914 that the U.S. banking system began printing its own money, the US dollar. In the 1920s, some families began to grow into the important part in Forex industry.
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      It was not until the establishment of the Federal Reserve System in 1914 that the U.S. banking system began printing its own money, the US dollar. In the 1920s, some families began to grow into the important part in Forex industry.

      

    reserve_banks_open_1.jpg

       --Federal Reserve Board with Bankers (Library of

      Congress, Prints & Photographs Division, photograph by Harris &

      Ewing, LC-DIG-hec-04846)--

      

      In 1930, the Bank for International Settlements was established in Basel, Switzerland, to provide financial supports to those independent countries suffering temporary deficits in revenue and expenditure. After the Second World War, the Bretton Woods Agreement was signed. According to the agreement, the exchange rate of currencies against the US dollar only fluctuates within 1% of the legal rate. After that, President Nixon repealed the Bretton Woods Agreement and the fixed exchange rate became invalid. Since then, the floating exchange rate system has been ushered in.

      

    Bank-for-international-settlements.jpg

      1973 was really a historic turning point in the modern foreign exchange market. In this year, the era of exchange rate was constrained and the market began to enter the era of full-scale floating exchange rates. In the mid-1990s, the Forex market drifted away from banks and companies. Until the emergence of the Internet and the development of electronic technology, online platforms and Forex transactions began to open to a wider range of retail traders. In the late 1990s, more personal capital began to be found in the Forex market. Online retail platforms appeared in 1999, and automated transactions have become common in retail transactions since then.

    圖片.png

      

      

      In the early 2000s, retail foreign exchange evolved again, and traders were able to program their own proprietary Expert Advisors (EA) and signals on an open platform. With a daily trading volume of US$ 6 trillion, now the Forex market has developed into the largest financial market, featuring the non-stop trading. As the world's most liquid market, the Forex markets scale far exceeds the global stock market, futures and other financial commodity markets. It is believed that more and more investors will participate in the most fair and transparent speculative market.

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      WikiFX is a global Forex inquiry platform and provides real-updated rankings of

      Forex brokers. So if you are seeking for a broker to start your Forex trading journey, please search the detailed information about the broker on the WikiFX.

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    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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