Commissions

[Guest Ioannis]

Please explain to me how commisions work. If I have a $500 account and I open a position of 10% of my equity on the AUD/USD currency pair, how much commission would I have to pay and do I only pay at the start or also after I close the position? (PS. For example purposes I am going to say that I only plan to hold position for 10 pips)

[Caseynotes]

8 hours ago, Ioannis said:

Please explain to me how commisions work. If I have a $500 account and I open a position of 10% of my equity on the AUD/USD currency pair, how much commission would I have to pay and do I only pay at the start or also after I close the position? (PS. For example purposes I am going to say that I only plan to hold position for 10 pips)

Hi, commissions are charged for share trading, all forex is by leveraged cfd's and instead of commission you pay the spread. see link;

https://www.ig.com/au/cfd-trading/charges-and-margins