Australia Currency Exchange Online Future Trading Online
The Foreign Exchange Market was established in 1971 with the abolishment of fixed currency exchanges. · No commission - Brokers earn money by setting a 'spread' - the difference between what a currency can be bought at and what it can be sold at. The FOREX grew steadily throughout the 1970's, but with the technological advances of the 80's FOREX grew from trading levels of $70 billion a day to the current level of $1. Even small changes can result in substantial profits because of the large amount of money involved in each transaction. The market opens Monday morning Australian time and closes Friday afternoon New York time. International banks are continuously providing bid and ask offers and the high number of transactions each day means
