Lesson 15 of 69
Spread, commission and swap
6 min read
Chapter checkpoints
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Every trade starts slightly negative. Understanding exactly why keeps you from blaming the market for costs you agreed to.
1.
The spread is the between the (what you can sell at) and the (what you can buy at). Buy EUR/USD at 1.08512 when the bid is 1.08502 and you are 1 down instantly. widen during news and in thin such as the late New York .
2.
Raw-spread accounts offer near-zero spreads but charge a flat fee, typically around $3.50 per per side ($7 round turn). For an active trader that is often cheaper than a wider zero-commission spread; for someone trading micro occasionally, it rarely matters.
3. /
Holding a position past the daily rollover (usually 21:00–22:00 UTC) means you pay or receive interest, based on the rate difference between the two currencies. Swap can be positive, but it is charged triple on Wednesdays to account for the weekend.
| Cost | When charged | Who it hits hardest |
|---|---|---|
| Spread | On every entry | Scalpers |
| Commission | On entry and exit | High-frequency traders |
| Swap | Daily at rollover | Swing and position traders |
Add it up before you trade
A 10-pip on a pair with a 2-pip spread gives away 20% of the target to costs before you start. Match your target size to your cost base — or trade instruments where the cost is a rounding error.
Spreads from 0.0 pips on raw accounts, with transparent commission and no deposit fees.
See Exness spreadsKey takeaways
- The spread is the built-in cost of every trade, paid the moment you enter.
- Commission accounts charge a fee but usually offer much tighter raw spreads.
- Swap (overnight financing) is charged or paid for positions held past rollover.
- Frequent trading multiplies costs, which is why scalping needs the cheapest accounts.
Knowledge check
3 quick questions — your best score is saved to your progress.
1. When do you pay the spread?
2. What is swap?
3. Why do frequent traders need the cheapest account type?
Progress is saved on this device.
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