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Overnight fee?

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Thread replies: 7
Thread images: 1

Hi guys, I just bought few stocks over plus500 I even earned few bucks but they took something they call overnight fee for holding position?

I had 150$ worth of stocks, I earned 5$ but they took me 25c. I know it doesn't sound like a lot but 0,25c x 365 days is 91,25$.

91$ per year is almost as big as my "investment". Am I doing something wrong? Is there a site with less or no fees? (Robinhood is not available in my country).

Thx in advance.
>>
>>1713229
You didn't "buy" the stocks and you will not be paid any dividends. You borrowed money on leverage to trade on the price movement of the stock.

> I know it doesn't sound like a lot but 0,25c x 365 days is 91,25$. 91$ per year is almost as big as my "investment".

Its a risk to the broker letting you borrow money to let you trade, so thats the interest you pay to hold these leveraged positions open everyday.

These kinds of trades are meant to be done in the short term. For long term trades you really should find a proper broker.
>>
>>1713229
Loyal3.com is what I use. No fees.

I dont know if its available outside the US though
>>
>>1713248
So there was never a trade at the first place? I'm bascily betting (like paddypower, william hill etc.) that a stock will rise or fall that day?
>>
Apparently plus500 isn't a real stock broker,you're not actually buying any stock
>>
>>1713259

Basically, yeah. When you actually buy stock you get the certificates sent you. No certificates? No ownership.

And day trading isn't really investment, it's speculation. Be careful, I lost $2k on it before I realised it's not a good idea (for me at least).
>>
>>1713278
Guess its not worth it unless you are speculating highly fluctuating stuff like bitcion.

The stock needs to grow 20% in its value just to pay this retarded fees.What a ripoff.
Thread posts: 7
Thread images: 1


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