Foreign exchange includes hundreds of currency pairs, and foreign exchange transactions also include common currency pairs in the foreign exchange market. The variety of foreign exchange transactions is very rich, which can meet anyone’s trading needs. So what are the types of foreign exchange transactions? Below, MIEX Mihui will introduce the main types of foreign exchange transactions.
The foreign exchange investment market is the world’s largest financial and wealth management product market, which is produced with the continuous development of international trade. At the same time, as a tool for international settlement of claims and debt relations, foreign exchange investment is becoming more and more popular. With continuous development in recent decades, foreign exchange transactions have not only doubled in number, but also in various types of transactions. So what are the types of foreign exchange transactions? After collecting various information, now I will give you a brief introduction.
MIEX is registered in the United Kingdom and has obtained multinational licenses and supervision, including: UK FDRC (license number 21168), American NFA (license number 0529540), Canadian FINTRAC (license number M20141931), St. Vincent FSA (license number 24605 IBC 2018), etc. .
MIEX provides investors with CFD transactions on up to 500 global financial products, including precious metals, energy, foreign exchange, global stocks, stock indexes, digital currencies, agricultural products, etc., providing 24 hours a day, 365 days a year trading. The MIEX Mihui team independently develops an all-Chinese MI Trader trading platform, cooperates with MT5, supports different devices and operating systems, and provides customers with financial product trading services.
Foreign exchange transactions can be divided into cash, spot, contract spot, futures, options, and forward transactions. Specifically, cash transactions are transactions between tourists and those who need foreign exchange cash for various other purposes, including cash, foreign exchange traveler’s checks, etc.; spot transactions are between large banks and large banks acting for large customers After the transaction is concluded, the payment and delivery of funds will be completed within two business days at the latest;
Contract spot trading is a way for investors to sign contracts with financial companies to buy and sell foreign exchange, which is suitable for public investment; futures transactions are traded at an agreed time and at a determined exchange rate, and the amount of each contract is fixed; option trading It is a transaction carried out in advance for the right to choose whether to buy or sell a certain currency in the future; a forward transaction is to be delivered on a specified date according to the contract. The contract can be large or small, and the delivery period is more flexible.
What are the types of foreign exchange transactions?
On the one hand, the diversification of foreign exchange transactions is that the development of international trade puts forward a variety of requirements for foreign exchange transactions, especially the increasing exchange rate volatility. Importers and exporters in order to avoid losses caused by exchange rate changes, forward foreign exchange transactions, and futures foreign exchange transactions are convenient.
It came into being; on the other hand, it is the result of the continuous development of the financial industry in major industrial countries. MIEX Mihui said that in the past ten years, the financial products of major industrial countries have become increasingly diversified, and they have penetrated and grafted each other.
For example, with the development of commodity futures such as soybeans and cotton, foreign exchange has also joined the ranks of futures. In the field of stocks, equity transactions have appeared, and foreign exchange transactions have also introduced exchange rights transactions and developed into foreign exchange options transactions.
The above is the related content of the types of foreign exchange transactions. MIEX hopes to help everyone. The main foreign exchange transactions have their own characteristics. Investors can make profits in foreign exchange transactions as long as they can grasp these characteristics.
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