Retail FX trading emerged in the groovy 1970s after the Bretton Woods system, which had pegged global currencies to the US dollar, was dismantled in 1971.
The resulting shift to a floating exchange rate system paved the way for increased currency speculation and the birth of the modern foreign exchange market.
Unfortunately, back then, FX trading was like an exclusive club, with trading accessible only to banks, hedge funds, and large corporations.
Individual traders lacked access to the necessary resources and technology to participate in the market.
In other words, too small and too poor. 😢
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