Unlike some other brokers, UFXMarkets doesn't charge commissions or general fees - it charges for the spread on the trades. The spread can mean three things: 1) the difference between the bid and the ask price for a currency, 2) the difference in price between two related futures contracts, and 3) transactions involving two or more option series on the same underlying currency (when dealing with options).
Not every trader has access to the same spreads; different accounts allow for different spreads, as explained in the chart below.
Aside from spreads, traders may have to pay rollover fees, but it's also possible that they receive payment for these fees. To put it simply, the rollover is really the interest rate traders pay or receive on the open positions that roll over from one day to the next. The nature of this fee depends on whether the interest rate for the main currency is higher or lower than that of the secondary currency. (For related reading, see Understanding Forex Rollover Credits And Debits.)
When the markets are open for trading, UFXMarkets' representatives are available 24 hours a day to answer customers' questions. Through use of the contact page, customers can call the phone numbers corresponding to their country to communicate their comments or concerns.
While representatives do not make any recommendations on trades to customers, they can help users place trades on the platform, demonstrate how to open, close, or edit a position and explain how to read and analyze charts, graphs, and other tools. Customer service also offers free Forex coaching and one-on-one tutorials for those who need assistance.
UFXMarkets: Analysis Tools And Additional Features
InvestingIt's very important for every investor to learn how to calculate the bid-ask spread and factor this figure when making investment decisions.
InvestingSpread has several slightly different meanings depending on the context. Generally, spread refers to the difference between two comparable measures.
TradingLearn how retail forex spreads affect your ability to trade currencies.
TradingThis trading strategy is an excellent limited-risk strategy that can be used with equity as well as commodity and futures options.
TradingForex brokers set their prices based on commission, spread, or a combination of both. Traders have to be cautious in the thinly regulated forex market.
TradingForex trades are subject to receiving interest or being debited interest if positions are held overnight.