Forex Brokers Swap Rate Comparison

In forex trading, a swap (or rollover) is the interest charged for keeping trading positions open overnight. It is calculated based on the interest rate differential between two currencies in a traded pair. Some traders, particularly those of the Islamic faith, cannot participate in swaps due to religious beliefs. As a result, swap-free accounts were introduced to address this concern.

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A swap is a commission you have to pay when you have an overnight position. The fee is calculated from the difference between the interest rates of a currency pair.

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Although the main idea of a swap-free account is to help traders avoid rollover interest, keep in mind that some brokers may have time restrictions regarding your floating positions. For example, some brokers only allow a floating position for up to 3 days, while others allow you to open your positions for up to a week. This might be a deal-breaker for long-term traders.

Also, brokers offering swap-free accounts may charge a commission fee, in which some of them may assign you a fixed commission that isn't affected by the changes in interest rates. If this is the case, you need to ensure that this additional fee is affordable and doesn't influence your profitability.

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We can probably compare current prices and swaps between brokers to find which is the fairest of them all, but we cannot do so all the time.

That's why it cannot be totally avoided.

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