Spot bestcashbackprogramsforex Best forex trade cashback trad cashback forexg forexbrokercashback becoming more Bestforextradecashback more frequent, commonly used in foreign exchange business capital operations because it can not only meet the needs of temporary capital exchange, but also help buyers and sellers to adjust the currency ratio of foreign exchange positions, to avoid exchange rate risks So what is the spot foreign exchange trading, it is how to quote and operate it? Look together!　　A, the meaning of spot foreign exchange transactions It is also called spot foreign exchange transactions, refers to the foreign exchange transaction, within 2 business days for delivery of the foreign exchange industry, is the foreign exchange market is the most commonly used a trading method The date of the transaction between the two sides for the settlement of funds is called the settlement date or the starting date According to the different settlement date, the spot foreign exchange transactions can be divided into 3 types 1. standard settlement date: is in the transaction after the second business day delivery at present Most of the spot foreign exchange transactions are used in this way 2. Next day delivery: is in the transaction after the first business day delivery, such as Hong Kong dollar against the yen, Singapore dollar is in the next day delivery 3. Generally follow the "value offset principle", meaning that the two sides of a foreign exchange contract must be delivered at the same time, so as to avoid any party to have delivery time differences and suffer losses Second, the spot foreign exchange trading quotation Quotation is the key to the transaction between the two sides and the basis of the transaction in the foreign exchange market usually provide the price of the institution known as the quoter In the spot foreign exchange trading, foreign exchange banks generally act as this role, as opposed to the quoters and the quoters provide the exchange rate on the transaction of other foreign exchange banks, foreign exchange brokers, individuals and central banks, etc. known as the quoters In the spot foreign exchange trading, foreign exchange banks in the quotation follow certain practices 1. two-way quotation In foreign exchange transactions before the transaction, the quoters usually do not reveal their intentions to the quoters, so the quoters must also offer to buy the bank. Therefore, the offer bank must simultaneously report the bid and ask price bid and ask price difference is called the spread exchange rate is generally expressed in five effective digits, consisting of two parts, the large number and the decimal number, the large number is the basic part of the exchange rate, the decimal number is the last two digits of the exchange rate offer the smallest unit of the market is called the basis point For example, a banks spot foreign exchange offer: EUR/USD = 1.2365/1.2370 1.23 is a large number, 65 and 70 is a small number, 65 and 70 difference between 5 for the difference of 8 basis points 2. concise offer international foreign exchange market, foreign exchange traders are very busy, so they will simplify the offer as much as possible, in the quote by telecommunication, the offer bank only the last two digits of the exchange rate, only in the need to confirm the transaction or in the highly variable market, the offer bank will report a large number　　3. U.S. dollar offer General exchange rate of all currencies are for the U.S. dollar, in the foreign exchange market, foreign exchange trading banks reported the purchase and sale prices, such as no special instructions, are referred to the reported currency and the U.S. dollar ratio 4. direct bid method offer Quoted exchange rate slash, the currency on the left is called the base currency, the currency on the right is called the bid currency Three, the operation of spot foreign exchange transactions A complete spot foreign exchange transactions have four Steps First, the initiative to initiate foreign exchange transactions of the party, inquiring about the currency of the spot exchange rate of the bid and offer price after the self-reported inquiry content of the main transaction currency, transaction amount, the contract delivery period Second, the foreign exchange bank dealer who received the inquiry, should be a complete report to be asked about the currency of the spot exchange rate of the bid and offer price Then, the inquirer received the offer, expressed willingness to quote the Finally, when the foreign exchange dealer of the quoted bank says "deal", the foreign exchange transaction contract is established after the transaction is committed, the two parties will confirm all the details of the transaction with each other in written form