- What is Swap Free Account Broker?
- Best Swap Free Trading Brokers
- What for is Swap Free?
- What are the best Swap Free Forex Accounts?
- Swap Free Brokers USA
- Swap Free Brokers List
What is Swap Free Account Broker?
Swap Free Account Broker is a Broker with no Swaps Account specification, where Forex swap is a commission, rollover, or interest the broker is charging to extend or hold a traderβs position overnight.
This tool allows traders to 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. Read about Swap FX via Wikipedia.
Rollover/ Swap | No |
Spreads | Standard as offered by Broker |
Trading Instruments | All, as offered by Broker |
Trading Platform | MT4, MT5, cTrader, Proprietary platforms |
Swap Free Trading Platform
Swap Free Trading can be highly attractive for some traders, however, not every Platform or Broker will offer it. First thing you have to check the broker you consider if it offers a Swap Free Account to trade on its platforms. Also, read our findings on Swap Free Account:
- The traders who perform day trade and donβt 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.
- Recently, many traders choosing this type of account, primarily traders following Muslim belief, due to the Shariah law requirement they are not allowed to use long-term trading. For this reason, quite many of the leading brokerage companies offer Swap-free Accounts, however, we recommend choosing only among strictly regulated forex brokers for money safety and transparency.
- Though Swap Free Accounts are typically used by Muslim Traders, non-muslim traders, as well as other trader groups that face trading restrictions, can also use them.
Swap Free Account Advantages | Swap Free Account Disadvantages |
---|---|
No interest/swap charges on overnight positions | Some Broker charge high Fees to compensate the lack of Swap |
No spread widening | Limited Capacity for deversifying |
No extra commissions | |
For Muslim Traders: Compliance with Islamic Laws | |
Top 5 Swap Free Trading Brokers
Here we selected leading Brokers offering Swap Free accounts based on our research that we chose for their good reputation and quality service:
- HFM β Best Overall Swap-Free Broker 2022
- BlackBull Markets β Best Lowest Spread Swap-Free Broker 2022
- FP Markets β Best MT4 Swap-Free Broker 2022
- Pepperstone β Best for Beginners Swap-Free Broker 2022
- BDSwiss β Best EA Trading Swap-Free Broker 2022
Is swap Free account halal?
Yes, Swap Free Account is considered halal since there is no swap or rollover interest on overnight positions, and they may be suitable for Muslim traders who wish to trade in compliance with Sharia law.
What for is Swap Free Account?
Swap Free account is useful for some strategies that do not want to hold positions overnight or is essential for Islamic traders (check best islamic forex brokers list) that follow Sharia rules and can not earn interest.
What are the best Swap Free Forex Accounts?
The best Swap Free Forex Account should be provided by a reputable and regulated broker first, then check full trading conditions to find your match, and check top forex brokers for beginners.
Swap Free Brokers USA
Forex Brokers in the USA offer Swap Free accounts are not many, we recommend checking OANDA.
Swap Free Account Forex Brokers List
This is our full list of brokers with Swap Free Accounts that are regulated and recommended for Trading:
Broker | Detail | |
---|---|---|
HFM |
Min. Deposit: 5 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
|
1
|
BlackBull Markets |
Min. Deposit: 0 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
|
2
|
FP Markets |
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5
Regulation: ASIC, CySEC, St. Vincent and the Grenadines, FSP
|
3
|
Pepperstone |
Min. Deposit: 200 US$
Max. Leverage: 1:30 to 1:400
Trading Platforms: MT4, MT5, cTrader, TradingView
Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
|
4
|
BDSwiss |
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and App
Regulation: FSC, FSA
|
5
|
Mitrade |
Min. Deposit: No minimum deposit
Max. Leverage: 1:30 | 1:200
Trading Platforms: Mitrade Trading Platform
Regulation: ASIC, CIMA, FSC
|
Mitrade Review |
FXChoice |
Min. Deposit: $100
Max. Leverage: 1:200
Trading Platforms: MT4, MT5
Regulation: FSC
|
FXChoice Review |
FBS |
Min. Deposit: 1 USD
Max. Leverage: 1:3000
Trading Platforms: MT4, MT5, FBS trader
Regulation: CySEC, FSC, FSCA, ASIC
|
FBS Review |
Globex360 |
Min. Deposit: $25
Max. Leverage: 1:100 | 1:500
Trading Platforms: MT4
Regulation: FSCA
|
Globex360 Review |
Fusion Markets |
Min. Deposit: No minimum deposit
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5, DupliTrade, Fusion+, Myfxbook AutoTrade
Regulation: ASIC, FSA, VFSC
|
Fusion Markets Review |