DislikedWHat do you mean?
The spread is 50 cents - Per lot, of what size you trade.
Let's say you are trading EUR USD and the spread is 2 pips for a standard 100,000 of currency lot.
That would make the pip value $10 USD per pip.
If you bought 10 standards your initial trade enter cost would be 10 x 10 so
you would be -100 OTB to take the trade. And each pip would make or break you 100 bucks.
With one standard it would be 10 bucks.
Same with Gold. One standard is 50 cents spread per lot. On a standard lot 100,000 USD worth of XAU that 50...Ignored
I have thought of a much better way of asking my question:-
Does the spread in gold work the same way as forex? So if the spread is 50 cents, price has to go in my favour for 50 cents before I break even or do I have to pay up front for the trade?
Again, thanks for your patience.