Question by : When did consumer level online commodities trading software become available?
If I recall, a consumer COULD trade futures and options on a variety of website as early as the late 90s, but it was pretty expensive and not something the average joe would likely do.
Best answer:
Answer by David
The “consumer” you’re talking about happened to be a bunch of technicians and professionals that had the cash and the resources and knowledge to be the first computer owners after IBM standardized and introduced the IBM PC in 1981, but really didn’t become very useful or popular until Windows 98 and the PC AT were introced mid-Eighties.
This is when the “consumer” had the means to track any data available by computer. At least, that was my beginning as the first engineer in town to get his own computer. I entered 30 min data by hand from FNN (now CNBC – recorded the live show on VCR in case I missed any, played it back later).
The biggest problem with Black Monday 1987, was prolific program trading, and professional computer trading had grown up. And this was the official wake-up call. Everyone was interested in the stock market all of a sudden AFTER the stock market crash.
Many “consumers” opened new brokerage accounts. the software and data feed were expensive, but not overly expensive, but it was still the day of wired telephones and full-service brokers with $ 60 being the discount brokerage rate. There were only a dozen books out on technical analysis. We hooked up by dial-up with 24K Baud modems..
When the internet protocol became standardized with a GUI interface known today as a web browser by Netscape, and when Compuserve, AOL and Prodigy expanded their services into a co-operative effort known as the Internet today, in 1992, the “consumer” became a widespread user.
Then in 2002 new legislation was passed opening trading to “consumers” in the forex markets, and again, the computer nerds blossomed into commodities as well.
Add your own answer in the comments!