Once the 1990s came along, thanks to computer nerds and the booming growth of the internet (cheers to you Mr. Al Gore), banks began creating their own trading platforms.
These platforms were designed to stream live quotes to their clients so that they could instantly execute trades themselves.Meanwhile, some smart business-minded marketing machines introduced internet-based trading platforms for individual traders.
Known as “retail forex brokers“, these entities made it easy for individuals to trade by allowing smaller trade sizes.
Unlike in the interbank market where the standard trade size is one million units (or more), retail brokers allowed individuals to trade position sizes of as little as 1,000 units!
No longer was the market a members-only club; individual traders were now invited to the party!
The 1990s witnessed a significant turning point for retail FX trading, as the rapid development of the internet and personal computers enabled individual traders to access the currency market.
As internet speeds increased, online trading platforms popped up like mushrooms after a rainstorm, providing retail traders with user-friendly interfaces and access to market data, news, and analysis.
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