I have a mini account with forex.com that I opened with $250. I was long one micro lot (10,000) USD/JPY today and my position rolled over at 5PM EST, and instead of the deal rate going down, it went up! I bought it at 117.85 and the deal rate is now 117.87, so effectively I lost 2 pips. I thouht USD/JPY had a positive rollover rate. I read the broker’s FAQ and it says this about rollover:
[B]Accounts on 2% margin or higher will receive cost of carry.
Rollover credits or debits are reflected in the unrealized P&L of the open position, and a rollover report (available in the “Reports” tab of the trading platform) provides additional detail of rollover activity.
Is the reason I’m paying for rollover instead of receiving interest because my account balance is only $250 and my margin is higher than 2%? I don’t get it.