What is "Intr"?

[zula]

Hi everyone,

i am new to forex and have started with FXCM software. i have been trading for few weeks and like any other beginner i am not doing well, luckily its only practice account. Besides loosing money this way i am also loosing money in this "Intr" field and best answer i could get from these guys is that its something they have to charge!?!? it seams to show up after day of trading and it keeps going up as time goes by. is this something that all of you real traders have to pay too? It does add up depending upon amount. Is there another software that does not charge this, beside they get their spread anyhow.

[firedave]

Hi Zula, I think thank one is called "interest", it's something that broker pay/charge you, depending on your open trade position (buy or sell), when you let your position open passing the New York session closing time. Almost all broker apply this policy, although I notice that some of them didn't including this new option from FXCM. Hope this help

[zula]

thanx firedave, that helps me understand how forex exchange work