Best way to trade Forex over longer time periods

Beginner Questions
1

Hi everyone.

I am still going through the course, so apologies if this is mentioned and I have not come across it yet.

I am using Trading 212 CFD’s to trade Forex at the moment on the demo account. There is a daily interest fee on open trades depending on their size. This fee will be minimal if your trade lasts for a couple of days.

I am quite attracted to longer time scale trading positions.

Is there any other way of forex trading long time scale positions that would not be CFD’s? If you trade longer time scale positions, how do you do it?

Thanks in advance

2

Trade futures instead.

3

I would personally avoid futures.

That is unless you have got real deep pockets.

There is nothing at all wrong with CFDs - despite what the Forex purists say.

When you are talking about long-timescale positions what exactly do you mean?

It’s true that over a three-month or so period CFDs can work out expensive.

Maybe long-dated options might be a better bet or dare I say it just buy and hold stocks.

But if by long time scale you mean anything longer than intra day CFDs are a great way to go.

4

I started by demoing with T212 and the spreads and fees were crazy, they actually really mount up.

I moved over to Oanda. They integrate with TradingView so you can trade directly from there.

I’ve cleared out my T212 ISA aswell as they are really poor and unreliable.

5

If you’re in the UK you can spreadbet forex. Most CFD brokers also offer SB, plus its tax-free.