In a out of the money cheap spread say 30 dollar fornex spread. FOR example USD/JPY I would be 15 pips out of the money. The market does not reach the price I bought into the spread at say 112.95. Do I lose the whole amount like a fornex binary option? Also do spreads charge by contract like binary fornex options? Is getting in a out of a trade free without any fees?
No you will not lose the whole amount like a binary.
Spreads are $1 to enter and a $1 to exit (per contract)
You need a reason to enter any trade… Dont just take something because its “cheap”