Trading a currency doesn’t have any upfront costs with us. The cost of the trade is factored into the spread, which is the difference between the bid and ask prices quoted in the platform. Each night, at 10pm, holding costs may also be applied to currency positions. The cost or credit applied to the account is listed on the order ticket when taking a position, and the amount is based on interest rate differentials. A credit is paid if you are long a higher-interest rate currency than the one sold (remember, when you short one currency in a pair, you are buying the other simultaneously). You are debited the interest rate differential if you are long the lower interest rate currency in the pair. Explore an overview of our trading costs.