As early as 2005, foreign exchange margin trading began. At that time, margin trading was conducted in the Bank of China. Later, Shanghai Bank of Communications and Minsheng launched related businesses. Later, around 2007, foreign trading platforms began to enter the China market, and then the CBRC imposed restrictions on banks' foreign exchange margin business, such as not adding leverage and increasing spreads. Due to the niche of foreign exchange business of banks, many investors began to operate on external platforms.