Who created Forex?
The United States of America in 1944 took the lead in the establishment of the Forex market with the introduction of US Dollars as the new world's currency. Foreign exchange trading was once something that people only did when they needed foreign currency to use when traveling in other countries. It involved exchanging some of their local country's currency for another at a bank or foreign exchange broker, and they would receive their foreign currency at the current exchange rate offered by the bank or broker.
These days, when you hear someone refer to foreign exchange trading or Forex, they are usually referring to a type of investment trading that has now become common. It is now considered the most prominent financial market. Just like with trading stocks, Forex traders can speculate on the fluctuating values of currencies between two countries, and it's done for profit.
The "place" where currencies of different nations are traded is called the foreign exchange market. The Forex market doesn't have a central or physical location.
Instead, it is a decentralized market for trading various currencies. Computer networks help traders around the world trade currencies electronically, which means that the market is open 24 hours a day.