Looking for brokers that don't charge daily swap. I know there are some off shore brokers that will give you a no interesting bearing account. I am looking for one that is reliable, registered with NFA,etc. Any help would be appreciated.
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DislikedI know some one using Crownforex.com with no swap. They are in Switzerland. He is doing a hedge making 3-4% per month. So far, no problems.Ignored
DislikedBe warned, the no-swap bucket shops were reportedly not paying interest credits, but were still debiting for negative interest positions. There is no free lunch, the very notion of a no swap account is a logical fallacy, as it would present an arbitrage scenario. It's the guise of shadey off-shore bucket shops hoping to lure the unsuspecting.Ignored
DislikedJperna,
If you are thinking of the Long GBPJPY on a swap paying broker and hedge it with a SHORT GBPJPY on a swap free broker, you will be in for a surprise!
Most Swap free brokers, even if you or the broker (or both) are muslim, they will charge you a corresponding fee if you held the position long enough to suspect you are doing the hedge!
How long is Long to be suspecious?
I was charged swap fees on my 3rd day. Some brokers would penalize you after a week, some after 2 weeks..Ignored
DislikedLooking for brokers that don't charge daily swap. I know there are some off shore brokers that will give you a no interesting bearing account. I am looking for one that is reliable, registered with NFA,etc. Any help would be appreciated.Ignored
DislikedHey all-- Just FYI, Interbank FX no-swap accounts will earn or pay a weekly fee based on the trades that remain open after the market closes on Friday.
Have a good weekend .
~AbigailIgnored