I already read and hear about currency trading on forex. And i found out that the broker will charge the trader the spread.
But i have a small doubt about that.
Let?s take this example:
I have $ 10,000 in my account, and the broker will charge 1 pip ?> $ 1
I placed an order to buy at EUR/USD at 1.3450/51.
I will see a negative balance in my account.
Now, let?s say that i didn?t make any trading for two weeks.
During this time, the EUR/USD will be moving up and down many times.
Will the broker charge me spread during the this period (again, i didn?t do any kind of buy or sell)?
How ever, after two weeks, the EUR/USD is 13670/71
Now, i will sell currency at this price. Obviously the broker will charge spread and i will make some good profits.
In other words, during the period, i did only two trade orders, and the borker will charge me twice only (for one buy and one sell).
Am i correct?
One more question, is it ok if i don?t trade much (just wait for big high and low)?
Will the broker charge me any extra for that?
Thank you for help
Assume that i open a trade and i kept it open for two weeks, then i closed it.
will the broker charge me?
To alexi:
So, i understand from you that holding my position for more than one day means that i will either pay or recieve interest rate in my account.
Can you tell me around how much is the interest rate?
Source: http://www.financelearning.org/forex/regarding-trading-currency-on-forex/
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