What is a FX spot transaction?

The foreign exchange (FX) spot transaction is the simplest form of a currency exchange. It is used when a buyer and a seller wish to execute a transaction against immediate cash and delivery at the current market value (“on the spot”). In business contexts, FX spot is used for immediate foreign payments, supplier settlements, or cross-border transfers. Unlike forwards or options, spot trades are simple, fast, and ideal for everyday operational needs – like paying invoices or converting incoming revenue.

How is a FX spot transaction used in companies?

Companies use spot transactions mainly to buy foreign currency in order to make immediate payments or to exchange foreign currencies into the local currency. Thereby, the exchange rate is fixed immediately. Unlike a transfer between two different currency accounts, a real-time rate is applied to a foreign exchange transaction. The settlement period for spot transactions is usually two days (T+2) from the date of entering the transaction.

To hedge the exchange rate to a future date, it is possible to enter an FX forward contract, which can help mitigate foreign exchange risk and protect against unfavorable fluctuations in currency values.

Get free demo account

Example of a EUR/CHF FX spot transaction

The company ABC needs EUR to purchase components for the manufacturing of its products in the EU area. As the company has no EUR income from current business, a EUR/CHF foreign exchange transaction is applied.

Or let’s assume a Swiss company needs to pay a supplier in USD: The company initiates a CHF → USD spot transaction via a platform like amnis. The system displays a real-time FX rate – for example, 1 USD = 0.92 CHF. The company agrees to the rate and executes the trade. The USD amount is credited to the supplier’s account, typically within 1–2 business days. This is a standard FX spot trade — fast, transparent, and settled immediately.

In which currencies can a fx spot transaction be concluded?

Foreign currency exchange transactions can be made in all currencies in which payments are executed. At amnis we offer transactions in more than 40 currency pairs.

Is there a difference between bank FX spot rates and fintech spot platforms?

Yes – and it’s important for businesses to understand.

amnis eliminates the opacity common in bank FX desks and allows smaller businesses to trade like corporates, without needing high volume thresholds.

Where do I find the current exchange rate for spot transactions?

The FX rates displayed on common financial information platforms are ususally spot prices. On the amnis website you can also find the current exchange rates of the most important currency pairs.

Are there any risks associated with using FX spot transactions for large payments?

The main risk with FX spot transactions is exposure to exchange rate fluctuations. For larger payments, FX spot rates can change between the initiation of the transaction and settlement, potentially leading to higher costs if the rate moves unfavourably.

To manage this risk, businesses can time their transactions strategically, use rate-locking options, or partner with providers like amnis, who offer transparent FX solutions with competitive spreads.

What does amnis offer?

amnis is a Swiss-based financial intermediary, licensed under FMA (Financial Market Authority Liechtenstein), and operates under strict anti-money laundering and fund safeguarding rules.

Funds processed through amnis are:

• Held in segregated client accounts at tier-1 partner banks
• Fully traceable with transaction confirmations and audit trails
• Protected by secure encryption and monitored payment infrastructure

With amnis you get all tools for international banking in one payment platform. Get your currency exchange and international money transfer done fast and simple with an all-in-one amnis account. Learn more about the features and tools of our payment platform here.