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A spot trade is a straight forward way of exchanging one currency for another that settles after 2 business days. By executing a spot transaction, you are securing the live exchange rate at the time of the trade providing peace of mind in the event that the exchange rate falls between executing the trade and settlement of the spot transaction.
A spot transaction or spot trade is an exchange of currencies at a set point of time which is settled after 2 business days. This type of currency trade allows for forward planning when you know when you will need or want the currency you are buying but want to secure a rate in advance of actually receiving the currency on account. Spot transactions are a great way of securing an exchange rate in advance of needing to physically have the currency available to spend. Essentially this is a less speculative type of currency trade where you know how much currency you will be receiving and when it will be delivered. For more information on spot trades, please speak to one of our experts who will be happy to help.