Sunday, February 11, 2007 7:15:26 PM
As far as pips for, It is my understanding that the broker profits the spread of the currency pair as it is bought at the ask, and must be sold at the bid, unlike equites when you can have a trade between the spread. This is pivitol because there is no MM to control things, the pip spread is kept constant for instance the EUR/USD has a typical 3 pip spread, so depending the the leverage, say 100:1 the bank/broker would make $3 per transaction of this currency. The banks are the intermediaries and the transactions finance themsevles, but I could be mistaken, you may want to research this as well.
All in my own Opinion, Not a Recommendation!!! But let's try to make some money!
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