Spot Forex is a pretty much the same thing as futures except that with
spot fx the actual trade of the currency happens right at the point of
trade or at a short time there after. The price point is determined at
the point of trade as well and this is not much different than with
Forex futures. The actual physical exchange of currency doesn't happen
right away with futures as it does with spot, and the exchange instead
happens on what is called the delivery date, which is typically a date
set in the near future.
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