International Monetary Order began to take shape in 1880 with the establishment of the gold standard system of fixed exchange rates where the value of each currency was fixed in relation to gold. In 1918 this system was abandoned but in 1922 it was recovered, although it now not only allowed currency exchange into gold but also the possibility of conversion into other currencies, mainly the pound sterling.

The word "Forex" is a combination of the words FOReign and EXchange. By volume, it is the largest financial market in the world, open 24 hours a day (although this is debatable to some extent as at times its volume is considerably reduced) with an ever-increasing daily turnover of more than the combined turnover of all the major markets around the world on any given day. It is a very liquid market and therefore ideal for investment and trading.