Spot
a.k.a. Spot market, Spot FX, Spot price
Trading for immediate delivery at today's price, as opposed to a price agreed for a future date.
In plain English
Trading for immediate delivery at today's price, as opposed to a price agreed for a future date.
The spot market is where things are bought and sold "on the spot", at the current price for immediate delivery. In forex, "immediate" usually means settlement two business days later. The rate you see quoted for EUR/USD on most screens is the spot rate.
It contrasts with forwards and futures, where the price is agreed now but the exchange happens later. Most retail forex is technically spot, rolled over each night with a swap.
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