10 FACTS ABOUT FOREX YOU PROBABLY DON'T KNOW
The world's first real 'bank' was Monte Dei Paschi di Siena founded in 1472 in Tuscany, Italy, and is still in operation today.
The Forex markets, surprisingly, were forced to close sometime during 1972 and March 1973 due to the ineffectiveness of the Bretton Woods Accord and the European Joint Float. Can you imagine this happening today?
Forex market represents more than $3.98 trillion worth of transactions each day.
Foreign exchange market is the biggest and the most liquid financial market in the world
Since the introduction of the Internet, the vast majority of all retail currency exchange happens online rather than on exchange floors. This allows for the market to be accessible to anyone in the world, regardless of location, as long as you have an internet connection.
The FOREX market trades in excess of $2 trillion dollars per day ($2,000,000,000) which is about 10-15 times the daily trading volume of the world's stock markets combined.
You have 24-hours to trade ... but there are optimal timings to trade littered throughout the day.
The U.S. Dollar is involved in nearly 90 % of all Forex transactions.
The three major Forex trading countries are the United Kingdom (32.4 %), the United States (18.2 %), and Japan (7.6 %).
The five major Forex trading centers are London, New York, Tokyo, Sydney, and Frankfurt.