Do you know what Forex trading is? Well, in a nutshell, it's a term used to describe transactions and activities that occur within the Foreign Exchange Market. And if you know what you're doing, you can make some serious coin as an investor.
Forex offers a great deal of opportunities when it comes to accumulating wealth - and if you're a budding real estate investor looking to gain a little startup capital, this could be for you.
That said, to get you all geared up for Forex trading, here are five amazing facts relating to the Foreign Exchange Market.
Forex trading's daily volume is around 53 times more than the New York stock exchange. Moreover, the USD is the most popular currency - and it plays a pivotal part of in 87% of all trades.
The idea of currency exchange can be traced right back to ancient times. In fact, during the fourth century, the Byzantine government held a solid monopoly on the exchanging of currency.
The world's first ever real bank, Monte Dei Paschi di Siena, was opened in 1472 in Tuscany, Italy, and is still active today.
Until the US Federal Reserve was created in 1908, individual US banks were able to create their own currency.
Between 1899 to 1913, foreign exchange holdings climbed by 10.8%, while holdings of gold rose only by 6.3%; this was of symbolic of the critical importance of the emerging forex market during this time.
