Question by Peilthetraveler: Foreign exchange curiosity prices?
I just opened a forex account yesterday and bought 500 oz of silver at 17.065 These days it says my common price tag is 17.079. I did the math and if they preserve charging me that each day, thats an curiosity fee of 30%! Is that proper?
Answer by Ted
Initial, you didn’t open a foreign exchange account. Foreign exchange stands for Foreign Exchange and is for trading currencies. You are speculating in valuable metals.
Second, they have to make their cash by some means. They can charge you whatever they stated and you agreed to in the disclosures. You go through people, of course.
Since you do not determine the dealer, I cannot give you a more specific response.
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