However, the amount of money available grew larger then the amount of gold and as a result when one country made an attempt to trade their currency stocks for the gold promised, they were declined. A new standard was set-up based on a promise that the currency was good. This came about under the Bretton Woods Agreement, which was a means of stabilizing the world power’s currency systems and control inflation rates.

Today though, thanks to the advancements of the internet, a game which was previously left only for the world’s wealthiest and most influential people is now available to anyone. Of course there is a whole lot more to the history of FOREX which would take several volumes of books to cover, but in the gist of things, this is the simple cliff notes version of the history. The concept of trading currency dates back as far as the availability of actual currencies; it dates back to the middle ages. While back in the days of old, this was a rather straight forward process because the average person only traded currencies nearby to them, today with the ability to travel the world, purchase and sell commodities throughout the world, currency trading occurs on a global scale. It use to be an act out of necessity but grew into one of the most popular form of investment speculation in the world today.