2. Qualification word of mouth is the key to determine whether the spot trading platform is legal through a qualified and well-received spot trading platform.
Introduction to spot trading:
1, spot foreign exchange transactions are the most commonly used trading methods in the foreign exchange market, and spot foreign exchange transactions account for most of the total foreign exchange transactions. Mainly because spot foreign exchange transactions can not only meet the buyer's temporary payment needs, but also help buyers and sellers adjust the currency ratio of foreign exchange positions and avoid exchange rate risks. Enterprises can eliminate the losses caused by exchange rate fluctuations within two days by conducting spot foreign exchange transactions with the same amount and opposite direction with existing open positions (assets or liabilities exposed to foreign exchange risks due to differences in foreign exchange assets and liabilities). Since spot foreign exchange transactions only fix the exchange rate for delivery on the third day in advance, their hedging effect is very limited. It is a foreign exchange transaction in which two different currencies are exchanged at the exchange rate agreed by both parties and settled after one or two business days.
2. Trader: refers to the agent in the foreign exchange market. Its duty is to collect orders for buying and selling foreign exchange from enterprises, companies or private customers every day, register these orders sent to banks in written or telephone form according to various foreign exchange, and then decide on buying and selling according to positions and prices, so that banks can quickly find objects and close deals. Foreign exchange traders often use mysterious technical language (jargon), and they have to make a quick decision in a few seconds, which is very technical. For example, when a customer makes an inquiry to a bank, the bank trader must consider the credit status of the other party, the currency and quantity bought or sold, the bank's own foreign exchange position and the market exchange rate trend, and immediately decide the quotation.