What is the difference between Spot and Cross currency?

Spot currency (direct quote) is the foreign exchange rate quoted as the domestic currency per unit of the foreign currency, i. e., it involves a quote in fixed units of foreign currency against variable amounts of domestic currency. For example, if your account currency is USD, a direct quote for you will be EUR/USD, GBP/USD, AUD/USD, etc. Cross currency (indirect quote) is a currency quotation that expresses the amount of foreign currency required to buy or sell one unit of the domestic currency. For example, if your account currency is USD, a indirect quote for you will be USD/JPY, USD/CAD, USD/CHF, etc.
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