Forex strategies revealed | FSR Forum

I have been demo trading currencies for quite some time, never quite profitable consistantly enough to go live.

For the last couple of weeks I have switched to watching and demo trading the FTSE. (I'm in London btw)
I am currently 16 days in and not had a day end at a loss !!!!

I've noticed the bid / offer spread only seems to be 1 or 2 points, which is fine.
Or am I not taking consideration of some fee or something?
EG. If I open a 5k position is there a £50 fee or similar?

Many thanks

Mark D

It will be broker dependant Mark.
Have you checked with your current broker? or the one you're demoing with?

There will be either a fixed commission or a percentage of the trade which usually pivots between 0.2 - 0.5%. Exchange fee's & minimum size fee's will either also be charged seperately or built into the bottom line costs, again depending on which broker you use.

If you're intending to use a UK spreadbetting firm then those costs will be built into the spread with no additional costs to pay for each trade deal.

Making market predictions is fun but of no practical use - as Max Gunther wrote in "The Zurich Axioms", there is No Profit in Prophets.

Don't know if this has been asked before. Is there a simple method to reduce currency risk?