What is a Currency Broker?

Money brokers first appeared in London at the beginning of the last century, and were annihilated with the closure of the London currency market during World War II.

Money broker

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Money brokers first appeared in London at the beginning of the last century, and were annihilated with the closure of the London currency market during World War II.

Money broker

In December 1951, the Bank of England, the Bank of England, opened the London foreign exchange market, allowing spot and forward foreign exchange transactions of multiple currencies against the British pound. Today's currency brokerage market is gradually taking shape.

The huge trading network provides currency brokerage business 24 hours a day, and its business penetrates into financial product markets such as bonds, credit, and foreign exchange options.

Initially, banks must conduct transactions through members of the Forex Brokers Association, and do not allow banks to trade directly with each other. With the gradual formation of the market, the London foreign exchange market has lifted restrictions, allowing banks to trade indirectly, and can entrust foreign brokers to trade.