In forex trading, the spot market refers to the market for the immediate delivery of a currency pair. This means that the currencies are traded at the current market price, known as the spot price, and settlement of the trade usually occurs within two business days. The spot market is the most common market used by traders to buy and sell currencies. It is also known as the cash market, physical market, or outright market. In contrast to the spot market, other types of forex markets include futures, forwards, and options markets.
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