I need to better understand (in simple easy to follow steps) how spot Forex positions, held overnight, are charged financing (interest) on the following currency pairs:
GBP/USD
EUR/USD
AUD/USD
GBP/AUD
GBP/EUR
I would like to know the outcome i.e. interest charged or received if I was to go either long or short the currency pair. I currently use Interactive Brokers for FX trading - any suggestions of other good brokers who allow the trader to be a "price maker" rather than a "price taker" i.e. I can place a buy order at this bid price rather than only taking the offer price?
Also, when does interest stop accruing i.e. I might close a trade with IB, but I still see interest being add for several days after that.
Thanks.
GBP/USD
EUR/USD
AUD/USD
GBP/AUD
GBP/EUR
I would like to know the outcome i.e. interest charged or received if I was to go either long or short the currency pair. I currently use Interactive Brokers for FX trading - any suggestions of other good brokers who allow the trader to be a "price maker" rather than a "price taker" i.e. I can place a buy order at this bid price rather than only taking the offer price?
Also, when does interest stop accruing i.e. I might close a trade with IB, but I still see interest being add for several days after that.
Thanks.