---
title: "Foreign exchange (Fx)"
---
Gravv lets customers exchange currencies using the [Fx](/api-reference/fx/get-v1-fx-supported-currencies) endpoints without initiating transfers. You can convert funds between supported currency pairs at the current market rate.

There are two ways to exchange: a **spot trade** executes immediately, and an **OTC order** is created, approved by a second user, then executed.

## Spot trade workflow

For an instant conversion at the current rate:

1. [Get all currency pair rates](/platform/foreign-exchange/get-exchange-rates#get-all-currency-pair-rates) to confirm your desired conversion is available.
2. [Request an exchange rate](/platform/foreign-exchange/get-exchange-rates#request-an-exchange-rate) for your currency pair.

## OTC order workflow

For an exchange that needs approval first, supports limit orders, or settles to a saved destination:

1. [Place an OTC order](/platform/foreign-exchange/place-an-otc-order) (market or limit). It starts in `pending` when the caller can approve orders, or `waiting_approval` when a dashboard decision is required.
2. A second user [approves or rejects](/platform/foreign-exchange/approve-or-reject-otc-orders) it.
3. On approval, the order executes and settles to the destination you set, which can be an account, a wallet, or a [settlement instruction](/platform/settlement-instructions/overview).

## When to use Fx

Use FX when you need to:

* convert funds between currencies
* take advantage of favorable exchange rates
* prepare funds in a specific currency for payments or transactions
* swap currencies without moving funds between accounts

## Trade directions

When executing trades, you specify the direction:

* `BUY`: Purchase the target currency using your source currency. For example, buy ZAR with USD.
* `SELL`: Sell your source currency for the target currency. For example, sell USD for ZAR.