HI,
Would you please tell me ;
What does swap and swap free mean in Forex ?
And what are their advantages or disadvantages ?
Thanks,
Forex swap-free account is intended for traders who use trading systems without adjustment to swaps or for the customers who are not allowed to receive swaps owing to their religious beliefs. … A forex swap is a commission or rollover interest charged by a broker for extending a trader’s position overnigh
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Forex swaps are also known as rollover fees, and they are charged in form of interests.
Forex swap-free account refers to Islamic account, where it performs the same way as regular trading account, except it does not charge any fees in the form of interests.
According to their religions, they are restricted from receiving or paying any interest from any type of activity. That’s why many brokers are offering traders swap-free accounts.
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