Swap Free Account Brokers
First of all, let us see what is a Forex swap, swap is a commission or rollover interest that the broker is charging in order to extend a trader’s position overnight. This tool is a very useful feature, as the trader may easily open long-term positions, while the rollover fee may be either positive or negative and varies according to the current rates on a particular trading pair.
- The traders who perform day trade and don’t want to prolong a trading deal until the next day for one or another reason can choose a Swap-free account that does not offer any adjustment to swaps on a day executed orders.
In simple words means, the trader will not receive any extra profits through long position, yet protected from potential extra loses while the trading result will depend only on rates and quotes at the particular time frame. But surely everything depending on the trading strategy particular trader perform, which is solely a respective own choice.
Recently, many traders choosing this type of account, primarily traders following Muslim belief, as per the Shariah law requirement they are not allowed to use long-term trading. Thus a quite many of the leading brokerage companies offering Swap free Accounts, as the demand increases and including specific features to their portfolio. Nevertheless, the true nature of a trading account may be guaranteed only in case the broker is well-regulated by the industry authorities respected worldwide. In other way, the broker may easily fake trading environment and left you with nothing but losses.
Min. Deposit: US$20
Max. Leverage: 1:30
Trading Platforms: MT4. GKFX Sirix Trader
Min. Deposit: 0 US$
Max. Leverage: 1:400
Trading Platforms: MT4
Regulation: ASIC, FCA