4 facts about our industry we bet you didn’t know
Electronic trading is incredibly popular, set to gain further interest over the coming years.
A combination of decentralisation and technological advancements (and a sprinkling of pandemic lockdowns/forum discussions giving it a boost!) has meant that trading is extremely accessible with millions of people around the globe becoming increasingly more interested in learning more and participating.
However, trading goes back a good few years too. There’s a lot to know about its - often unbelievable - history, and with this comes some fascinating facts. Here are a few of our favourites:
1.
Forex trading can be traced back as far as ancient times! The Talmud records currency transactions that date back to Biblical times, and those who took commission for helping others to change their currency were called ‘money changers’.
2.
There has never been a financial collapse that has affected the forex markets. While the same can’t be said for the stock markets, forex has only ever had a bit of drastic movement - never a collapse. This is largely due to the fact that prices rely on traders, rather than companies and shareholders.
3.
By 1913, approximately half of all global forex transactions used the sterling (GBP). Due to this, the United Kingdom was able to change the shape of its capital, and foreign baing institutions that operated in London went up from three (1860) to 71.
4.
Despite what Hollywood would have you believe, the US is not the centre of trading. Although the majority of trades involve the US dollar, roughly 43% of all forex trading transactions take place in the United Kingdom, making it the hub of trading activity.
