What do you understand by service fee in forex?

[Potuse]

The service fee is a fee that each and every trader must pay when you want to open any trading position and it is one of the ways at which the broker make money in Forex . They could also charge you if your account has been inactive for quite a long time.

 

[Planbizzle]

A service fee in forex is the amount that a broker or provider of foreign exchange services charges for the assistance they offer in facilitating the swap of one currency for another. This fee could be a flat rate applied to all transactions or a percentage of the overall value traded.

 

[Potuse]

A service fee in forex is the amount that a broker or provider of foreign exchange services charges for the assistance they offer in facilitating the swap of one currency for another. This fee could be a flat rate applied to all transactions or a percentage of the overall value traded.

Because the forex involves exchanging currencies which means you want to buy one currency and selling the other one at the same time . The process of performing these activities require some fees which are charged by the broker.

 

[Danny4cash]

The trading broker make their money from service fees and other fees. Before you open a trade, you'll be charge a fees, small,. And when you to withdraw, you'll also be charged a service fees. Same thing when you want deposit.

 

[Abigael]

Brokers earn money from the fees they charge the people who trade on their platform. So as a forex trader, you should be aware of this service fee so that it does not affect your profits. Also, you use this factor in choosing the forex broker to use, some charge more fees than others.