Discuss Keeping position for long term in a swap free broker

[forexbet]

In my location, I saw OctaFX is only choice for swap free broker. Every brokers except OctaFX charge swap big.

If there is true swap free (non religion related), I can long some stock CFDs, EURUSD and short USDJPY and "hodl" for 100 days while don't pay swap for 100 days. Did anyone use the similar plan and had no problem? Is swap free actually too good to be true, so the broker will forfeit profit?

 

[FxMaster]

In my location, I saw OctaFX is only choice for swap free broker. Every brokers except OctaFX charge swap big.

If there is true swap free (non religion related), I can long some stock CFDs, EURUSD and short USDJPY and "hodl" for 100 days while don't pay swap for 100 days. Did anyone use the similar plan and had no problem? Is swap free actually too good to be true, so the broker will forfeit profit?

Where are you from?

The company that claims to be swap-free offers this everywhere they operate.

 

[Lee-me]

I have been working with Capitalcore brokerage lately, commission free, and no swap.

 

[forexbet]

Where are you from?

The company that claims to be swap-free offers this everywhere they operate.

I am a foreigner in Canada. Most forex brokers accept Canada and I checked only OctaFX offers swap free (not religion related). But it looks like swap free is too good to be true.

 

[compu-forex]

In my location, I saw OctaFX is only choice for swap free broker. Every brokers except OctaFX charge swap big.

If there is true swap free (non religion related), I can long some stock CFDs, EURUSD and short USDJPY and "hodl" for 100 days while don't pay swap for 100 days. Did anyone use the similar plan and had no problem? Is swap free actually too good to be true, so the broker will forfeit profit?

They will eventually change your account to a normal swap account. Or boot you.

 

[RahmanSL]

In my location, I saw OctaFX is only choice for swap free broker. Every brokers except OctaFX charge swap big.

If there is true swap free (non religion related), I can long some stock CFDs, EURUSD and short USDJPY and "hodl" for 100 days while don't pay swap for 100 days. Did anyone use the similar plan and had no problem? Is swap free actually too good to be true, so the broker will forfeit profit?

There are a lot of Brokers who claim they have Islamic swap free trading account available to their Muslim clients but will charge a fee if the opened position(s) is/are held for over 5-7 days. So far, I have only managed to come across one Broker who does not charge any swaps on their Islamic account (I have posted their name to you in your in-box which, I repeat, is not an endorsement/encouragement to open trading account(s) with them) and the Broker in reference will need to pay me for mentioning them in an open forum .... perhaps like quietly slipping in US$20k into my trading account with them for "advertisement fee" or something like that . However, and as also forewarn in my message in your in-box, their spread is wider than in a Standard and ECN trading account but which, if you are in trades for the long term, you & I should be able to live with that. For the past few years with them, I have a few issues with them but nothing really terrible and withdrawals, though a little slow, have been relatively smooth.... and they have not kicked me out for holding trade positions for long period of time.

 

[CallahanSinclair]

I am a foreigner in Canada. Most forex brokers accept Canada and I checked only OctaFX offers swap free (not religion related). But it looks like swap free is too good to be true.

I think it's a good idea to ask their support team if they are swap-free or not. I've already asked a few brokers, and some of them confirmed that they are swap-free.

 

[RahmanSL]

I think it's a good idea to ask their support team if they are swap-free or not. I've already asked a few brokers, and some of them confirmed that they are swap-free.

You should also ask them (as I did) whether they charge any fee for holding the opened position(s) for longer than 5-7 days.
Cheers!

 

[PhoenixJ]

I'm currently working with a broker that offers swap-free accounts and everything has been smooth. So if you thing you might face any problems, or you have already, then you should definitely contact them about your trades. (Also check your trades to know what happened to them). I think as a trader you should always contact the brokerage and ask them about their rules and terms, so you wouldn't fall victim to their unspoken rules and have your profits removed.