Spot Market
It's also what's known as a spot market. In a spot
market, trades are made immediately, there's
no waiting period. Think of it as if you're buying
something "on the spot." When you issue an
order to buy, you're saying how much you'll pay
right now for immediate delivery. This is as
opposed to a futures market where you're
entering into an agreement to buy something later
.for an agreed-upon price