They seem to be changing the swap almost every friday for quite some pairs. Utterly annoying when carry trading is your style of trading. It is mine so I will move a rather large part of my funds to other brokers one of these days.
From time to time they mix pips and points together and then the applied swap is off by either 10 or 0.1 times.
Their swap calculator is quite okay lately but sometimes have that pip-point problem for weeks :s
also in fxpro topic:
The saddest thing happened just yesterday. One long microlot position NZDUSD gave 0.02 euro in swap on my euro account
Some historical data:
26-03-2015: 0.06
30-03-2015: 0.07 these days flipping between 0.06 and 0.07 due to eurusd fluctuation
11-05-2015: 0.05
12-06-2015: 0.04
04-08-2015: 0.03 how low will it go you wonder…
11-09-2015: 0.04
25-09-2015: 0.03 too bad, only 2 weeks 0.04
09-10-2015: 0.04
06-11-2015: 0.05
13-11-2015: 0.04
20-11-2015: 0.03
22-01-2016: 0.02
Orbex: 0.06
Guess what will be a logical move with 50+ microlots open and a strategy that is based upon keeping most of them open for a very long time…
short eurusd is now down to 0.15 per minilot so it takes a 0.04 lot to get 0.01 euro a day while lots of brokers still give 0.01 euro on 1 microlot rounded up from 0.7/0.8 per minilot while a topbroker like atom8 is even rewarding a eurusd position with 1.35 per minilot.
When trading long time periods swap makes quite a difference and fxpro is for me no longer the broker to trade with that strategy…
Posted in orbex topic:
I just started trading Orbex and the swap on some pairs are simply great and even the best in the industry for a long term carry trading strategy. I trade nzdusd and eurnzd only for now and I really hope that will keep on giving 0.06 euro for long nzdusd and 0.09 euro for short eurnzd per microlot for a very long time. It could lower of course due to central bank interest change but in that case I hope you still have the best swap. I simply close down the accounts and move on to the next broker in case you change this best-of-the-industry-swap. It can be great to attract traders like me and in case you gathered enough of them and a lot have a lot of those positive swap positions it will bring a lot of money lowering them. After that traders like me will run off to other brokers.
I even bet there’s monitoring software running to see what the effect will be when changing swaps. With enough lots opened in pairs like those I’m sure changing the swap a little will add up to massive dollars a day for the broker…
also in orbex topic:
I also asked some questions your employees refure to answer in live chat so maybe you can answer them here…
Do you profit when I lose?
Here Forex Account Funding Options | ORBEX it says * Intermediary bank fees may apply
Since my bank is a SEPA bank and yours is as well, there are no fees but when asking about it I get answers like ‘it could be 20 - 50 euro and on big ammounts it might be 70 euro’.
As long as this is not answered in full I will keep my balance low because I’m rather scared of depositing a lot with you guys. SYSEC is rather worthless also as we all know when it comes to getting your money back after the broker decides to rob you