I am a true Muslim... is there any connection with free swap? what is free swap? and what brokers provide free swap? thank you, sir
Free Swap = Interest-Free.
Many brokers provide free Swap accounts for them for religious reasons. Especially for those of Islamic faith. So there is no interest, either negative or positive, when we have open trades that have not been closed for more than 1 trading day / 24 hours.
Among the brokers offering free swaps are: Instaforex, Fxclearing and Tadawulfx
Thanks
@Abdul Rohman: Swap is the difference in benchmark interest rates applicable in each country whose currency is traded in the forex market or commonly known as overnight interest. In Islam, this type of interest is a factor in the prohibition of transactions, so a free swap account is needed. Almost every broker has provided a free swap account, so we can trade without worrying about overnight interest.
Thank you