Good news for our clients, who don’t want to pay SWAP!
Promotion period : Unlimited
Additional info : Available for all account types (except ECN).
Instruments : Available for all trading instruments apart from those in the Forex Exotic and CFD categories.
This eliminates any additional fees and simplifies the implementation of long-term trading strategies because your SWAP is always equal to 0, regardless of your transaction way.
SWAP is the fee for holding a position overnight. It is formed on the basis of interest rates of the central banks in those countries, whose currencies you are trading.
Swap free accounts imply no daily charges of swap commission (positive or negative). So, the client doesn’t get any extra income or suffer negative profit.
When trading the EUR-USD currency pair, you borrow USD to buy EUR.
Let’s suppose the American Central Bank interest rate is 1.5%, and the deposit rate of the European Central Bank is 0.5%.
If you borrow $100,000 from the Central Bank of America to deposit €95,000 to your account in the Central Bank of Europe, then each time transferring positions through midnight you’ll pay 1.5% rate for your loan in the Central Bank of America and receive 0.5% interest on your deposit in the European Central Bank.
If you don’t want to deal with all these difficulties, activate our SWAP Free service and trade with pleasure and comfort!
2. Go to Menu > Dashboard > Click on the trading account which you want to activate “Swap Free”.
3. Click on “Switch On” as below.