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Forex brokers with rollover-free (swap-free) accounts | No swap Forex brokers




Below is the list of Forex brokers who offer Islamic or swap-free accounts with no rollover charges.
Besides Muslim friendly Forex brokers, there are also brokers who offer interest-free accounts to all traders.

Islamic account - can be open for Muslims only.
Any account - can be open for any client.
Standard account - needs further review.


Forex broker Swap free

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Broker discussion area

Jiri

January 29, 2010

Hello, I have a question. Why the most of brokers have so big problem with swap-free accounts? Of course, they don't recieve swaps from traders, but they also don't have to pay the swaps to traders! And maybe swap-free accounts are more atractive for traders, so broker will get more customers = it means more earned money on spreads. So why the most of brokers does not offer swap-free acounts without any additional charges or restrictions?? Thank you for your opinions.
Jiri from Europe.

BrokerGuru

January 29, 2010

Hi Jiri,
Without charging swaps, a broker may get more customers, correct; however, some of those customers may not be the ones the broker wants to have: Forex brokers don't favor carry traders, who may use a swap-free broker for a single purpose - to offset risks in a carry trade by opening and keeping a swap-free trading position for many month (a broker doesn't earn a penny on spreads, because a trader doesn't open new trades), while profiting from an opposite trade held with a second broker, where the carry trader earns a positive swap every day.
I once had a long conversation with a Forex broker, who wanted to know why I'm looking to open a swap free account. His purpose was to determine whether I'm planning to use the tactics I've described above.

Jiri

January 30, 2010

Hello Broker Guru,
thank you for your opinion. I agree. I calculate this type of carry trades and it is really not so effective to hold position for many months (6 or more). To stay in position so long, you need to open small position and then the profit if also small. If you open big position, then profit on swap is bigger, but you will be margin called very soon. So the best way is to stay in position 1 or 2 months. And if you trade BIG money, it can be atractive for broker, I think. Good Luck. Jiri.

trader

February 7, 2010

Dear traders,
figfx swap-free is for Islamic Account only but not for any account.

trader

February 7, 2010

one finacial is a forex broker or not

BrokerGuru

February 7, 2010

Thank you!
Figfx listing is fixed.

One Financial offers Forex and CFD trading.

trader

February 13, 2010

Good news...

A confirmation from figfx.com that they are now offering swap-free for Any Account, so clients should not have to request for Islamic Account anymore.

All the best!

BrokerGuru

February 13, 2010

Thank you!

trader

February 14, 2010

iForex.com

Automatic closing of positions on the Islamic Account (swap-free) by the trade server will be executed in 30 days from the day of opening every position.

trader

February 14, 2010

Dear Sir,

I could not find infomation or link about Islamic Account (swap-free) on the PronetFX.com website

BrokerGuru

February 14, 2010

Thank you for the info about iForex swap-free conditions.

Regarding Pronetfx, you have to ask about the swap-free account, they may not give much information on the website.

trader

February 17, 2010

Windsor swap-free is for Standard Account only.



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