Cryptocurrency Q&A
Can you trade forex with no fees?
Can you trade forex with no fees?
Alessandro
Thu Oct 10 2024
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7 answers
1693
I'm exploring the possibility of trading forex without any fees. I want to know if it's possible to engage in forex trading where I won't be charged any fees for my transactions.
7 answers
amelia_doe_explorer
Sat Oct 12 2024
For those who choose to close their position on the same day, there is no funding fee incurred. This offers traders the flexibility to execute short-term strategies without incurring additional costs.
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EthereumEliteGuard
Sat Oct 12 2024
However, if a trader decides to keep their position open overnight, a small fee is charged. This fee is designed to cover the cost of the money that the trader has effectively borrowed to maintain their position.
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ZenHarmony
Sat Oct 12 2024
The calculation of this overnight fee involves two components: the tom-next rate and a small admin fee. The tom-next rate reflects the interest rate differential between the two currencies involved in the trade.
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CryptoQueenBee
Sat Oct 12 2024
The admin fee, on the other hand, is a small additional charge levied by the trading platform to cover operational costs. The combination of these two factors determines the total overnight funding fee.
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KimchiQueenCharmingKiss
Sat Oct 12 2024
In the realm of Forex trading, costs and charges are a crucial aspect that traders must be mindful of. One significant aspect is the funding fee, which can vary depending on the duration of a trader's position.
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