Also known as “”, refers to the bank with reference to the market, for domestic residents to directly convert one kind of foreign exchange into another business.
This is the exchange of freely convertible foreign exchange (or foreign currency) between individual customers at banks.
The individual has solid dish and empty dish commonly (margin) cent.
Through foreign exchange trading, individuals can sell the foreign currency they hold and buy another foreign currency with high deposit or appreciation, so as to obtain higher interest income or gain the benefit of foreign exchange appreciation and avoid exchange rate risk.
If the buying rate is higher and in the appreciation, can obtain exchange difference, interest income.
Through foreign exchange trading, individuals can also adjust the currency structure of their foreign exchange holdings, which is not only convenient to use, but also conducive to maintaining value.
At present, according to the relevant policies of the state, we can only carry out solid foreign exchange trading, but we can not carry out virtual foreign exchange trading.
So personal foreign exchange trading business are solid offer transaction (cannot carry on overdraft, margin and other transactions), individuals in the bank within the stipulated trading time, through the counter service personnel or other electronic financial services, solid offer foreign exchange trading.
When entrusted by a client, the bank buys and sells one foreign currency for the client into another according to the quotation of the bank’s personal foreign exchange trading business.
It is not yet fully convertible and the renminbi cannot be traded freely with foreign currencies.
Individual residents may open an account at a bank with cash or transfer their existing account deposits to a bank that operates personal foreign exchange trading business.
In terms of trading methods, banks can go to the counter to conduct transactions, and foreign exchange transactions can be conducted through telephone and Internet.
Compared with stocks, bonds, futures and other investment varieties, individual foreign exchange trading has its own characteristics, which are mainly shown in: because the world is in operation for 24 hours in a row, therefore, the longest time.
Individuals can buy and sell foreign currencies 24 hours a day as long as banks provide services.
Since the current global exchange rate system is mainly a floating exchange rate, and the international foreign exchange market is affected by various international political and economic factors as well as various emergencies, exchange rate fluctuations have become a normal phenomenon, and sometimes there will be large fluctuations.
There is no limit to the rise or fall of exchange rates in the international foreign exchange market.
Volatility brings both opportunities and risks to individual foreign exchange trading businesses.
At present, individual foreign exchange trading business can be conducted through bank counter service personnel, telephone or self-service trading equipment.
Since it is the medium currency in the international foreign exchange market, most foreign exchange transactions involve USD, such as USD /, USD /, USD /, USD /, etc.
After the introduction of the euro, the trading between the euro and the main convertible currencies has been increasingly valued by the market.
Instant bank in the international foreign exchange market exchange rate (international foreign exchange market price is is a bilateral offer, Banks reported at the same time, under normal circumstances bid-ask spread is about 5 basis points, bid-ask spread for bank earnings) based on the expanding gap between buying and selling prices (price), to produce individual foreign exchange sale price, and changes along with the international foreign exchange market.
Multiple reverse transactions can be carried out on the same day, and T+0 mode is adopted on the starting date. That is, individual residents can sell (buy) the currency they bought (sold) on the same day, and there is no limit on the number of transactions.
Global stocks rose, the dollar fell to a three-game low in a week and a half, and a rebound in gold prices was dented by Powell’s comments.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.