How do you read a broker statement?
Statements use columns of jargon: commission, swap, gross P/L, net P/L, balance versus equity. Beginners often can't reconcile what the platform showed with what the statement says.
What confused you on your first statement?
- the column you misunderstood
- how you eventually matched platform numbers to statement numbers
- anything your broker's statement leaves unclear
Post your questions here; the community can decode them. The trading costs guide explains the fee columns.
Background: The real cost of a forex trade: spread, commission and swap
Every trade has costs, and they are easy to underestimate. Here is how to add up the spread, commission and overnight swap on a position.
What is a spread in forex?
The difference between the bid (sell) and ask (buy) price. You pay it every time you open a trade, and it widens when the market is less liquid.
Is a raw spread account cheaper?
Not automatically. Add the spread and the round-trip commission together and compare the total with a spread-only account's typical spread on the pairs you trade.
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