I'm keen on trading EUR/USD and/or GBP/USD on a casual basis - i.e. check on the position once/twice a day. I have not traded forex before. Need a little advise:
a) Is it feasible to trade small size on intra-day basis?
b) Is there any additional costs in leaving positions overnight?
c) What is the best online broker for small size trades, intra-day (with option to leave on for multiple days), tightest spread.
d) How are FX prices on these online brokerages determined - my understanding is FX is OTC (do different sites quote different rates or do they all refer to like CME?!)
All help appreciated. Cheers!![Eek! :eek: :eek:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
a) Is it feasible to trade small size on intra-day basis?
b) Is there any additional costs in leaving positions overnight?
c) What is the best online broker for small size trades, intra-day (with option to leave on for multiple days), tightest spread.
d) How are FX prices on these online brokerages determined - my understanding is FX is OTC (do different sites quote different rates or do they all refer to like CME?!)
All help appreciated. Cheers!
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