The top ten trivias in the foreign exchange industry, do you know them all?

The foreign exchange industry is one of the most stressful industries in the world. However, there are also many interesting facts about the foreign exchange industry that can bring to life a serious and boring industry. Today we take a look at some interesting facts about the foreign exchange industry that you may not have known:

The worst currency fluctuations in history

Exchange rate fluctuations are minimal now. But the 2008 Zimbabwean dollar went to the other extreme. It becameThe worst currency fluctuations in historyFor the record, inflation is a staggering 6,500,000,000,000 percent. Hope you didn't go long on the Zimbabwean dollar at the time.

Global average daily foreign exchange trading volume is enough for you to buy how many cars?

foreign exchange marketThe average daily transaction volume in 2015 has reached $5.30 trillion. That's enough money to buy two nice cars for every family in America.

The UK is the largest foreign exchange market in the world

You might think that the United States is the center of foreign exchange trading. But that's not the case. 41% of the world's foreign exchange transactions take place in the UK, only 19% in the US. The remaining countries together account for only 40%.

The vast majority of retail foreign exchange traders are unable to maintain a profitable year in a row

We all want to make a profit in the foreign exchange market. But most people are not good at trading. According to the survey, 99.6% of retail foreign exchange traders have been unable to make a profit for 4 consecutive quarters.

GBP/USD is called "Cable"

Before the advent of fiber optic technology and global communication satellite technology, the stock markets of London and New York were connected by cables laid in the Atlantic Ocean. Therefore, the pound/dollar is still called Cable.

Deutsche Bank is the world's largest foreign exchange player

Although Germany is a relatively small foreign exchange market, Deutsche Bank is the largest player in the global foreign exchange market, with a market share of 14.6%. Citi is close behind with 12.3% and Barclays with 11%. The top 10 players in the world account for 80% of the foreign exchange market.

The modern foreign exchange market began in 1973

Foreign exchange trading has a long history, but the modern foreign exchange market began in 1973. This is also the dividing line after the abolition of the Bretton Woods system after World War II and the arrival of the era of floating exchange rates.

Before 1908, U.S. banks could print their own currency

The Federal Reserve was not officially established until 1908. Before that, any US bank could issue its own currency. This was arguably the result of a country's lack of fiscal control.

The history of foreign exchange trading can be traced back to biblical times

We don't think the foreign exchange market has a long history, but the transaction of funds has a long history. "Converters" are first recorded in the Talmud, and of course, such converters also charge commissions or fees.

The pound sterling once dominated the global foreign exchange market

The most traded currency today is undoubtedly the US dollar. But in the early 20th century, the pound sterling was the global currency. In 1913, almost half of all global foreign exchange transactions involved the pound.