Hi,
I know this will sound REAL dumb, but when I buy $US 1,000,000 and the spread is 3 pips, dose that mean that the broker is taking 3$ form you or 3 HUNDRED dollars???
If the second answer is correct, isn't that HUGE !!! I mean the people who routinely buy and sell 10 million units at a time are paying 3000$ for each trade???
Another related question, dose the broker take the 3 pip spread commision on the SALE of that previosly opened contract as well? so for example I buy $US 1,000,000 now and my stop loss kicks in 2 hours later automatically. Did the broker take 300$ from me or $600?
Sorry again for the silly question
I know this will sound REAL dumb, but when I buy $US 1,000,000 and the spread is 3 pips, dose that mean that the broker is taking 3$ form you or 3 HUNDRED dollars???
If the second answer is correct, isn't that HUGE !!! I mean the people who routinely buy and sell 10 million units at a time are paying 3000$ for each trade???
Another related question, dose the broker take the 3 pip spread commision on the SALE of that previosly opened contract as well? so for example I buy $US 1,000,000 now and my stop loss kicks in 2 hours later automatically. Did the broker take 300$ from me or $600?
Sorry again for the silly question