There are several details you want to consider before trading forex. Check your platform for up-to-date details or see the Forex Product Guide.
You pay only the spread to trade forex, so you never have to anticipate commissions down the road. With spreads-only trading, your platform calculates your transaction costs for you using this formula: (Spread) x (Pip Cost) x (Number of Lots Traded) = Total Cost.
One of the major benefits of forex is the near consistent trading you can do. You can trade forex 24 hours a day, Monday through Friday, as global markets open and close.
Rollover is the interest paid or earned for holding a position overnight. A credit or debit for each position open at the end of the day is applied directly to your account balance. Your trading platform automatically calculates your rollover amounts.
Margin is a portion of your account equity set aside as a deposit for your trade. Margin requirements are based on your account type and are updated at least once a month to account for price fluctuations. You can keep track of your Used and Usable Margin on your trading platforms.
You have access to some of the most-traded currency pairs in the world. Mini accounts feature the most-volatile pairs on the market, while Standard and Active Trader account feature our entire catalog of pairs.