Juno Markets: Dealing With Spot Transactions
Whenever trading in the FX market, you are actually buying or selling currency of any particular country. However, there is no physical money exchange from one party to another over here. This is mainly what happens at foreign exchange kiosk. In this field of electronic markets, traders are mainly taking position in specified currency with the hope that there might be some kind of upward movement and even strength in currency, which they are planning to buy. The main aim over here is to make profit and if you want to be a part of this trading area, then you might want to give Juno Markets a try.
Going for spot transactions:
Spot deal is mainly for the immediate delivery, which is also defined as two major business days for the most currency pairs over here. The major exception in this regard is the sale or purchase of US dollars versus the Canadian dollars, which will then be settled in one working or business day. Here, the business day calculation will always exclude Sundays, Saturdays and even some legal holidays in the currency of traded pair. During Easter and Christmas season, there are some spot trades which can easily take longer as six days for proficient settling. You will come to learn more about that through juno markets opinions anytime you want.
More about the transactions:
Funds are mostly exchanged under spot transactions on settlement date and not quite on the transaction date. US Dollar is mostly stated to be actively traded currency all around the world. Then you have the euro as the most traded option under counter currency. The next one in the list is the Japanese yen, followed by British Pound and finally dealing with the Swiss Franc. You might want to get these points straight before being a part of it.