Why is currency trading market called forex?

Why is currency trading market called forex?
Who decided on naming it forex and why?

Best answer:

Answer by Michael
It is just short for foreign exchange.

Know better? Leave your own answer in the comments!

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  1. JoeyV (January 18th, 2014 at 10:21 pm)

    It is a portmanteau for foreign exchange…

  2. Jeremy (January 18th, 2014 at 11:16 pm)

    FOREX = FOReign EXchange or just FX

  3. Fxcc (January 18th, 2014 at 11:35 pm)

    Hi Jason,

    The currency trading market started being known as foreign exchange around about 1970, once the states changed to floating currency rates. Before 1970, as per Bretton Woods system, the currency exchange rates were fixed, therefore not everyone was able to make profits from exchanging currencies.
    Once foreign exchange trading became popular, people started using a short form such as forex or FX.

    Best Regards,
    FXCC Representative

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