For most trading purposes, the cost of each trade is not vitally important to its success. An exception applies to some intraday strategies the aim to capture small profits. On a trade size of $10,000, for which you need an initial margin of $100, the spread will usually average around three pips or approximately $3. The spread can vary from as low as 0.5 pips for high volume major currencies to five or more pips for minor currencies. If you hold a position for longer than 24 hours, there may be a small interest charge depending on the interest rate differentials between the two currencies. At other times, you may be paid a small amount of interest on your position. The interest amount is credited or debited as your position is rolled over to the next day, and is made so that you can keep the position open without actually taking delivery of the currency.