1. Personal foreign exchange trading: Personal foreign exchange trading, also known as "foreign exchange treasure", refers to the business that banks directly convert one foreign exchange into another for domestic residents with reference to the exchange rate in the international foreign exchange market. In other words, individual customers conduct freely convertible foreign exchange (or foreign currency) transactions in banks. Personal foreign exchange transactions are generally divided into firm offer and false offer (margin).

2. Purchase of foreign exchange: In China, our functional currency is RMB. When we need to pay foreign currency after a foreign currency transaction, it is called purchasing foreign exchange. Buying foreign exchange is a transfer transaction, that is, using the local currency in the account to exchange foreign currency, which is equivalent to foreign exchange trading. The converted foreign currency is still in the account or bank card, and no cash has been withdrawn.

3. Settlement of foreign exchange: Settlement of foreign exchange is short for settlement/settlement of foreign exchange, which can be divided into two situations: individual settlement and company settlement. It must be handled in a bank or online bank. At present, many banks in China can handle it.

4. Difference between the two: In short, foreign exchange transactions are transactions between currencies other than RMB. Foreign exchange purchase is to buy foreign exchange (in various currencies) with RMB, and foreign exchange settlement is to exchange foreign exchange (in various currencies) for RMB. Because China still implements foreign exchange control, the RMB is not freely convertible.