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Foreign exchange transaction fee
There is a spread between buyers and sellers in foreign exchange transactions, which is usually called spread, that is, transaction cost. Generally speaking, the spot gold industry generally charges a spread of 5 points (that is, $50 per lot), and the direct foreign exchange is generally between 3 and 6 points. Different from the nature of stocks, stocks are charged in two directions, and foreign exchange is charged only when the order is placed, and no longer charged when the position is closed. In addition, there is no transaction tax on foreign exchange.