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    Thread: Newbie questions about Forex Brokers

    1. #1
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      Default Newbie questions about Forex Brokers

      Hello,
      Im new in Forex.
      As far as i know, when I BUY a currency, i can have "interest income" from that currency.
      And when i SELL a currency, i need to pay for the "interest expense".
      Are all of the brokers will give out / charge "interest"?
      Or some of them do not give out / charge "interest"?
      Sorry for my silly question.
      Thank you very much for your help and information in advance!


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      Borneo Scalper (03-29-2018)

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      Hello , i see you don't understand the mean of forex yet but that normal . so first of all to start trading you have to open an account in broker than deposit an amount of money to your account in that broker to open orders.
      Than all the transaction or orders when you trader are instant , when you click sell in usd/jpy for example the orders start with lose when the spread is active that what you call interset , and this spread change from a broker to other and there's some account without any spread
      And when you close that order you can close for profits or in lose who go to your account money


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      Quote Originally Posted by ynwandy View Post
      Hello,
      Im new in Forex.
      As far as i know, when I BUY a currency, i can have "interest income" from that currency.
      And when i SELL a currency, i need to pay for the "interest expense".
      Are all of the brokers will give out / charge "interest"?
      Or some of them do not give out / charge "interest"?
      Sorry for my silly question.
      Thank you very much for your help and information in advance!
      what you explaining is actually called interest rate swap. If you dont like that, you can look for brokers that offer a swap free account or Islamic account. Now most brokers already have the feature so its easy to find. Just dont forget to ask the support first about it.


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      I guess you are truly new in the forex trading field, and your question is not really accurate. I can try to elaborate on some points that might help you, but if it does not, try to ask your question again. In forex trading, we are only doing two things, it is either you buy or you sell. When you either buy or sell, the broker will charge you the spread (which is the difference between the bid/buying price and ask/selling price). Another place where broker charges their clients is through commission and swap(Overnight rollover charges). Aside this, the broker will not chart their client. When you lose, you will lose to the pocket of the liquidity provider, and when you gain you will gain from their pockets as well. That is the way this business works.


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      Quote Originally Posted by ynwandy View Post
      Hello,
      Im new in Forex.
      As far as i know, when I BUY a currency, i can have "interest income" from that currency.
      And when i SELL a currency, i need to pay for the "interest expense".
      Are all of the brokers will give out / charge "interest"?
      Or some of them do not give out / charge "interest"?
      Sorry for my silly question.
      Thank you very much for your help and information in advance!
      Are you referring to swap? You can see the information per pair within this link - https://www.instaforex.com/specifications
      Best regards,
      PR Manager
      InstaForex Group
      Live help online


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