Swaps Free Accounts
Brokers offer various programs to attract traders, and one of these programs is the absence of swaps for an account for a certain time period. However, keeping records and monitoring such programs could be quite inconvenient and face a challenge in existing trading platforms.
In this case the Brokerpilot’s trigger “Swaps Free Accounts” comes to the rescue, with which dealers can very quickly and conveniently set up the necessary conditions for canceling swaps on an account or group of accounts during a certain time period. You can set the beginning and end of such a period, or simply specify a period without swaps when opening a new position.
A swap-free account is a type of Forex trading account that does not charge any fees for holding a position overnight. Traders holding positions through a rollover do not pay or receive any interest on their trades. This type of account is also known as an Islamic account as it is designed to comply with the principles of Islamic finance.