Here’s how FX trading started and how it’s evolved:
- Ancient times: Money changers exchanged coins for trade and travel.
- Gold Standard (~1870s): Currencies pegged to gold; stable exchange rates.
- Bretton Woods (1944): USD pegged to gold; other currencies pegged to USD.
- System collapse (1971–1973): Free-floating exchange rates begin.
- 1990s: Online platforms open FX trading to retail investors.
- 2000s–today: FX becomes highly liquid, global, and 24/7.
