Hi guys,
Do you know any broker who can create a swap-free account for anyone other than Muslims?
Or is there a broker that can be made without an incoming certificate?
Yes you can. Some brokers like Tickmill or Hotforex has loose requirements for opening such accounts (like completing survey only) and you can get such account without any issues.
Thank you for your reference
Yeah, there are a few of them. The one I use allows it, though I don’t use such account. I only read it in FAQ section.
Absolutely. I use a swap free account. This also depends on your broker. If they allow it, good for you. Forexchief swap free account is available for all traders.
Did you get this account without verification that you are muslim? I got mine at Hotforex with simple questionnaire and looking for brokers which offer similar procedure to get the access.
FBS and Weltrade
I have another account that is swap free with them but I have not funded it in a while now
what broker are you talking about?
But what’s the use? Isn’t there a fixed commission for having a trade open overnight?
I think yes you have to pay fixed fee because the broker can’t pay it for you just because you are Muslim or Christian. The purpose of swap free accounts is to avoid crediting or debiting overnight interest and I think fixed fess does the trick.
I understand. But with regular swap you can either win or lose interest. With fixed fee the broker always wins. usually swap is small, but the fixed fee is about 5$/lot i believe.
Yes and it should work only for Muslims because they technically pay to broker so that broker can pay for the interest. Tricky thing, but arbitrage is still possible with that option.
I can add one broker to the list. Turnkey forex. They too allow opening a swap free account for non-Muslims. Rest you can check their website for more details.
I have checked with Turnkeyforex, they’re not allow for swap free account now. Any other trust broker with no swap account?