The History of Forex Trading: Introducing the Game-Changers

Financial gain is an opportunity nobody voluntarily passes on. Society throughout history has been searching for new opportunities that can profit them monetarily. Increasing ones income and being able to afford a better lifestyle is what motivates many people to work harder. However, sometimes working hard work does not garner equal results. An example of companies that empower people to elevate their living standards and live a happier life are  XTrend and XTrend Speed.

Traditionally advancing financially means getting a hefty raise at work or generating more sales at ones business. Without such lucky breaks people are often forced to work two or three jobs just to make ends meet. This is still a common practice to add to one’s existing income channels. However, with the progress of technology, these income channels progressed as well. New forms of income were introduced, which meant people could get better value for their efforts.

Many new methods of earning were introduced, but not many had the same inept ability to generate wealth as forex trading.

The history of Forex Trading

The history of currency trading can be tracked to be as old as society itself. Ancient writings of Talmudic origins have been uncovered which had mentions of people who assisted other people transactions in exchange for commissions. In todays world they would be called brokers. 2500 years in the past, Ancient Egyptians and Greeks used to trade goods and respective currencies with silver and gold coins with the value determined by weight. 500 years later, in Roman times currency minting was established with a government authorized monopoly of currency trading. Till today such monopoly policies with the banks and other government bodies as deciding authorities still exist.

1000 years in the past copper was the most popular metal used for minting coins and trading. By using copper instead of gold coins were created which help lower value than gold. The World’s oldest bank Monte dei Paschi was established in Italy around that time with the only purpose of facilitating currency transactions.

The first ever Forex market was established 500 years ago in Amsterdam. This was the official start to forex trading. This market allowed people to freely trade currencies. It was from this point that forex trading spread out and became mainstream throughout the world.

In 1913 the overall number of Forex trading firms rose substantially  in London alone. Half of the majority of Forex transactions were made in Sterling which in 2013 made Pound Sterling the fourth most traded currency in the world after US dollar, the Euro and the Japanese Yen.

Innovation in the Forex Trade

Forex trading up till recently could only be done through large brokerages or government bodies that were licensed and recognized. These brokers were the only way of participating in forex trading activities and they greatly mistreated this fact. In the past they used to charge hefty commissions in exchange for their services which greatly lessened the profit gained for the trader. However now the advancements in technology has stripped this authority from monopolized parties and enabled freedom for forex traders globally.

XTrend and XTrend Speed were launched in 2018 and 2020 respectively. Both online platforms offer advanced trading options and capabilities while assuring user-friendliness for the traders.  Their options of tradable assets include CFD’s on Forex, cryptocurrencies, metals and many other assets on a global scale. XTrend was founded and operated by the parent company Rynat Trading Ltd a Cyprus Investment Firm. It is authorized and regulated by CySEC. It was launched after two years of constant research and development to provide a mobile phone accessible platform  for maximum accessibility for the users from any place at anytime. XTrend Speed on the other hand was launch two years after XTrend under Rynat Capital (Pty) Ltd. This sister app was launched to offer the option of forex trading to a vaster audience in more than 140 countries globally.

The founders behind XTrend aim to make trading easier to understand and available to everyone. Their platform helps teach and enlighten the novice traders about the forex trading world and all the best practices used to be successful here. In 2019 XTrend started its Social Trading feature that was developed to assist new traders and old alike on how analysis of a trade is done and how to understand the market’s ever-changing indicators and trends.

The company bases its operations in South Africa from their development office n Cyprus. Both the online platform and trading application is available n multiple languages to accommodate a global audience.

With the advent in digital technology the minds behind XTrend aim to make forex trading easier and more remotely accessible than ever before. Their online platforms help people increase their financial gains all from the comfort of their homes.

LA Weekly