I have just come over from Trading 212 where I could open a CFD on shares...Boeing in the case of my example here and closed it a few minutes later with a small loss or profit and I would have just paid the spread etc. Is it different here?
I just opened a test CFD on two Boeing shares just to see how it all works, and was willing to lose the few pounds if it went the wrong way. Having closed it on a very small profit (I asked if scalping was okay here and they said yes - just this morning on this forum) I discovered two charges, one for £11.94 and one for £11.93.
I'm assuming they are some sort of charge because I opened a CFD on a share. One for opening and one for closing? Can somebody help me out, and tell me if I'll have this charge every time I open a CFD? I came from Trading 212 because of the lack of instruments, but these charges have made me quite nervous about keeping my account.
I only wanted to make or lose a few quid on short term CFDs until I gain experience. Will I be charged this for a five minute short term CFD on Forex or commodities, too? Would spread betting be better for what I want to do, and are there 'hidden' charges there?
I reiterate...I don't want to keep any position open for any length of time or risk big money until I have more experience.
Many thanks, and I know the blame for my unexpected loss lies with me for not reading costs etc.