1, the firm offer is binding on the offeror, and the false offer is not binding on the offeror;

2. The firm offer has detailed contents and specific conditions, while the virtual offer does not need detailed contents and specific conditions, nor does it need to indicate the validity period and trading intention, so it has no legal effect;

The firm offer stipulates the validity period, commodity name, quality specification, packaging, quantity, price, etc. The false offer is generally vague and has no clear expression. Some offers are also false offers. Although the meaning is clear and the requirements are complete, there are some reservations.

The firm foreign exchange transaction adopts T+0 clearing method. After the customer completes a transaction, the bank computer system automatically completes the delivery of funds immediately. In other words, if the market fluctuates, investors can seize multiple profit opportunities in one day.

A transaction in which a customer converts a freely convertible foreign exchange (or foreign currency) into another freely convertible foreign exchange (or foreign currency) through a domestic commercial bank is called "foreign exchange firm transaction".

The so-called "firm offer" means that in this kind of transaction, customers can't use the financing method similar to that in futures trading, that is, after paying the deposit, they can raise money from the bank and enlarge the transaction amount several times.

The currencies that domestic commercial banks can use for firm foreign exchange transactions basically include US dollars, euros, pounds, Japanese yen, Swiss francs, Canadian dollars, Australian dollars and Hong Kong dollars. These currencies are freely convertible. Foreign exchange firm trading does not provide transactions involving non-convertible foreign exchange (or foreign currency).

When conducting a firm foreign exchange transaction, if the US dollar is exchanged with another freely convertible foreign exchange (or foreign currency), this transaction is customarily called "direct transaction"; If you exchange two freely convertible foreign currencies (or foreign currencies) other than US dollars, this transaction is customarily called "fork transaction".

When representing an exchange rate, the base currency comes first, the target currency comes last, and the middle is separated by "/",indicating how many target currencies a unit of base currency can exchange.

There are two ways to quote the exchange rate involving the US dollar. The quotation method based on USD is called "direct quotation". Indirect quotation with USD as target currency is called "indirect quotation".

What are the characteristics of foreign exchange firm offer?

1, the spread is large, between 16-40 points, which greatly increases the transaction cost of investors.

2, there is only one-way profit, and the income comes from the exchange rate difference between buying and selling.

3. No leverage Because there is no leverage of funds, the income of foreign exchange firms mainly comes from the amount of principal invested, so the threshold for capital requirements will be high. If it is a small fund, you can't make money at all!

4. According to the regulations of the State Administration of Foreign Exchange, the profit of foreign exchange firm trading in domestic banks mainly comes from the exchange difference, and the bank quotation is basically "the same price of foreign exchange", which has a great influence on the profits of investors.