First things first – what is forex trading? Simply put, forex trading is the buying and selling of currencies regulated by a fluctuating exchange rate. These transactions occur in the foreign exchange (also known as forex) market.
The concept of forex trading has been around for years. Since 3,000 B.C., travellers have swapped currencies to use between countries.
This essential function of forex has turned it into the world’s largest and most liquid market. Every day, people worldwide partake in trillions worth of foreign exchange transactions. Impressive? It certainly is. But do you know when modern forex trading began?
The birth of modern forex
Modern forex began in the 1970s when the U.S. stopped redeeming dollars for gold. They placed tariffs on imports leading to the collapse of the Bretton Woods system. As a result, countries stopped pegging their currencies to the dollar. This devalued it, prompting a floating exchange market. Back then, the market was open to very few countries.
Forex trading gained a shot in the arm in the 1990s when trading systems leveraged the internet. This led to the inclusion of live market prices and real-time order executions. The market maker, an entity that buys and sells currencies at its own price, became more structured and systematic. New markets began to emerge in places like Southeast Asia. As a result, the forex marketplace became flexible and liquid.
Yet, even then, it was mainly people working in the stock exchange who had access to the forex market. But change is inevitable. Over the next ten years, the forex market moved closer to equitable access, creating more pools of traders. Today, almost anyone can leverage automated tools to trade. Trading from anywhere, and with any device, is now a norm.
Forex4you has committed to contributing to this evolution since 2007.
Improving the trading environment with Forex4you
We began with a vision to make trading transparent and accessible to all. To start, we introduced cutting-edge proprietary technology like our Forex4you Mobile, Web, and Desktop apps. To keep up with the evolving global landscape, we also expanded both our service offerings and trading instruments. We now have over 150 instruments ranging from forex and crypto to stocks and commodities.
Most recently, we have added natural gas, and over 50 new stocks and cryptocurrencies such as Netflix and Dogecoin, to our portfolio. This 2022, we also launched a new account type - the ProSTP Standard. Trading on this account allows clients to trade over 120 instruments with floating spreads and zero commissions.
It is one thing to have tools at your disposal, but another to know how to use them.
We recognized that the lack of training and knowledge was a barrier to entry for beginners. New traders found it time-consuming and difficult to pick up the basic technical and fundamental skills of trading, with mistakes made and both time and capital wasted.
With these barriers in mind, we launched our ground-breaking social trading service in 2013, Share4you. Share4you helps simplify the process of crafting trading strategies by allowing beginners to copy the trades of experienced traders. This levelled the playing field and provided professionals and novices, with an equal shot at forex trading success.
But this new era brings along its own set of challenges. The global pandemic and recent developments between Russia and Ukraine brought uncertainty to the market. Not to mention the likelihood of impending stagflation. New trading assets like crypto and NFTs bring risk volatility to the market.
All these hurdles will not stop us. We remain dedicated to our clients and partners as a forerunner of this evolution.
The importance of recognition
Our continuous drive for innovation over these past 15 years has landed us 19 industry awards. Amongst them is the ‘Best Transparent Broker 2022’ by Fxdailyinfo.com.
Most of all, we continue to place our partners at the forefront of our business. Our CEO, Marina Strauss, visited our partners in India, Thailand, and Vietnam this 2022 to thank them for their valued support and hear more about their experiences.
Also, we introduced an exclusive service for our valued partners. We now offer priority support and faster fund withdrawals for partners who achieve VIP status with us.
The world of forex trading has transformed since its inception. As it continues to evolve, so will Forex4you. Where there are barriers, Forex4you will provide greater access. Where there are trader challenges, Forex4you will invest in cutting-edge technology to help them adapt.
At Forex4you, we expect change and look forward to future growth and providing easy access to trading for everyone. So, join our community of more than 2,000,000 traders today!
