I have an account with Interactive Brokers. I always thought you have "only" transaction costs and the spread to pay, if you trade forex. But now, I found out that most of the brokers charge you if you hold positions over night. They call it interests or carry fees. And that is much more as the transaction costs and the spread.

I would like to trade from a daily chart, because I thought costs and the spread are not so important anymore if you trade on a higher time frame. But since I made a calculation how much I have to pay interests, by holdig a position for a longer period of time, the costs and the spread are nothing compared to the interest rates. A strategy with 5 to 10 positions (each 100k to 200k) open, one has to pay around 1500 usd each month only for the interests.

What I found very strange is, that there is nothing on the internet or in the forums about that theme. Have I overlooked something? In my opinion this is a huge problem if one wants to trade forex on a higher time frame.

Does anybody know how do overcome this? Does anybody know a broker who does not charge interests? To the longer term forex traders, how to you handle this?

Thank you