The exchange fund is a special fund for investing in foreign exchange, and foreign exchange trading is a proprietary trading.

The exchange fund refers to an investment fund that invests in currencies (foreign exchange) of various countries. As the exchange rate fluctuates violently, the risks and benefits of the Exchange Fund are relatively large.

Foreign exchange transaction is the exchange of one country's currency with another. Different from other financial markets, the foreign exchange market has no specific location and no central exchange, but transactions between banks, enterprises and individuals through electronic networks. "Foreign exchange trading" means buying one of a pair of currencies at the same time and selling the other. Foreign exchange is traded in the form of currency pairs, such as Euro/USD or USD/JPY.