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If it is related to trading, forex trading is trading currencies from various countries intending to make a profit. Currency buying and selling between various parties does not take place in a market with a physical structure, but in an invisible network called the “forex market”. Along with the times, forex trading is now divided into several parts in the financial market and also a commodity, each of which has its own goals and interests.
1. Spot Market
This market is a market where the purchase or sale of financial instruments, commodities, or other assets by cash and direct payment, as opposed to a market for future delivery. Usually, this market is often referred to as the cash market or physical market because trading is directly exchanged for assets.
2. Forward Market
The forward market or what is often referred to as the futures market is a market for sale and purchase transactions with delivery at a later date. It is said that futures are the opposite of the spot market or cash market because transactions that occur are delivered on a timed basis.
3. Futures Market
Or future trading is one of the markets that is quite familiar in Kenya society because this market is one of the places where the agreement that states the standard volume of a certain currency is exchanged on certain maturity date. The difference between the future and forward market lies in the way the trades are carried out. The futures market is done OTC (over the counter) while the forward market is the opposite. That means, futures trading is carried out on the futures exchange while forward contracts are not.