Forex trading first is to choose a foreign exchange retailer
The history of retail foreign exchange
Now that you have an understanding of foreign exchange, you will most likely want to start your money-making journey. But before you start your journey, you still need to know one thing … the actual trading account established with the broker!
Of course we hope that you will cooperate with the best foreign exchange brokers, so we decided to open this course to help you choose the best broker! First, we will understand the history of brokers. Give an example to illustrate the best things the network brings to us, such as Weibo, WeChat, Yuhui International Network, … yes, they are all amazing. But what we want to talk about is that for “foreign exchange addicts” like you and me, the best gift is-retail foreign exchange transactions.
Retail Forex Trading
In fact, without an online foreign exchange broker, “foreign exchange addicts” cannot appear. You know, in the 1990s, due to the higher transaction costs, it was more difficult to participate in foreign exchange market transactions. At that time, the government was like a strict “parent”, closely watching foreign exchange transactions and restricting related activities.
Over time, the United States Commodity Futures Trading Commission (CFTC) believes that this is enough. They passed a series of bills, namely “Commodity Trading Act” and “Commodity Futures Modernization Act”, which opened the door for online foreign exchange brokers. Since everyone has access to the worldwide network, opening an account through a forex broker becomes simple and convenient.
Various foreign exchange brokers have sprung up, eager to take advantage of the prosperous foreign exchange industry. But since there are so many choices, it becomes more difficult to distinguish good brokers from bad ones. We say that poor brokers, that is, speculators or informal brokers, this is not a joke, we will discuss in depth later.