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Best Swap-free Forex Brokers in 2024

Toni Nasr, CFA, FRM| Updated January 16th, 2024

The foreign exchange (Forex) market is highly competitive, with many local and international brokers offering various trading services. Choosing the right account type that meets your needs is a critical step in this process. Among the options, swap-free accounts emerge as a distinctive type of account that refrains from charging overnight interest on positions. 

In this article, we will compare the best swap-free Forex brokers in 2024. We will look at their features, fees, and regulations to help you find the best broker for your needs. So, whether you are a beginner or an experienced trader, read on to learn more about them!

Best Swap-free Forex Brokers in 2024

Best Swap-free Forex Brokers in 2024 1

#1 Best Overall

Min. deposit of $0
Demo account
Powerful trading platform and app
View BrokerBest Swap-free Forex Brokers in 2024 2Read review
XTB summary
XTB is a reputable online broker offering a swap-free account for MENA users with leverage of up to 200x without charging swaps or interest. It provides an intuitive interface with access to advanced tools and customisation options.
Number of currency pairs45+Supported countriesMENA region
RegulatorsFCA, KNF, CySEC, and FSCDeposit MethodsBank transfer, credit/debit card, and Skrill
Spreads starting at (pips)0.9

77% of retail CFD account lose money.

Best Swap-free Forex Brokers in 2024 3

#2 Best for social trading

Social trading feature
Commission-free trading (other fees apply)
Demo account
View BrokerBest Swap-free Forex Brokers in 2024 2Read review
eToro summary
eToro stands out as a leading social trading app, offering a swap-free account with no rollover commissions and interest-free leverage. Their platform is user-friendly, with the ability to automatically follow and copy the trades of other successful traders.
Number of currency pairs40+Supported countriesInternational, exceptions apply
RegulatorsFCA, ASIC, CySECDeposit MethodsBank transfer, credit/debit cards, PayPal, Neteller, Skrill, and more
Spreads starting at (pips)1

76% of retail CFD accounts lose money.

Best Swap-free Forex Brokers in 2024 5

#3 Best for extensive currency pairs

Min. deposit of $0
Tight spreads
Excellent reputation (founded in 1978)
View BrokerBest Swap-free Forex Brokers in 2024 2Read review
Interactive Brokers summary
Interactive Brokers offers the IBKR cash account, which can be used as a swap-free account for trading. Their investment platform, Trader Workstation (TWS), is an advanced desktop platform designed for active investors, and IBKR GlobalTrader, is an easy-to-use mobile app.
Number of currency pairs100+Supported countriesInternational, few exceptions apply
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNBDeposit MethodsBank transfer
Spreads starting at (pips)0.1 pip and tier pricing commission
Best Swap-free Forex Brokers in 2024 7

#4 Best for tight spreads

80+ Currency Pairs
Spreads start at 1 pip without commission
Demo account
View BrokerBest Swap-free Forex Brokers in 2024 2
Forex.com summary
Forex.com is a global Forex broker offering various financial instruments, including Forex, CFDs, indices, stocks, commodities, and cryptocurrencies. They have over 80 currency pairs available, with low spreads for highly liquid pairs.
Number of currency pairs80+Supported countriesInternational, few exceptions apply
RegulatorsAFCA, NFA, CFTC, IIROC, CySEC, CIMA, FSA, MAS, ASICDeposit MethodsBank transfer, credit/debit cards
Spreads starting at (pips)0 (subject to commission); 1.0 (no commission)
Best Swap-free Forex Brokers in 2024 9

#5 Ideal for zero-commission trading

User-friendly trading platform
60+ currency pairs
$0 commission on deposits and withdrawals
View BrokerBest Swap-free Forex Brokers in 2024 2Read review
Plus500 summary
Plus500 provides a user-friendly trading platform for trading over 60 currency pairs with an interest-free account. Additionally, there are no commissions on trades or fees for deposits and withdrawals.
Number of currency pairs60+Supported countriesInternational, exceptions apply
RegulatorsCySEC, FMA, MAS, SFSA, FSCA, ASIC, FCADeposit MethodsBank transfer, credit/debit card, PayPal and more
Spreads starting at (pips)1.2

82% of retail CFD accounts lose money.

Best Swap-free Forex Brokers in 2024 11

#6 Best for multiple trading platforms

Various trading platforms: MT4, MT5, cTrader, TradingView
90+ currency pairs
Tight spreads
View BrokerBest Swap-free Forex Brokers in 2024 2
Pepperstone summary
Pepperstone provides a swap-free account designed for traders seeking an interest-free trading experience. The account grants access to over 90 currency pairs, featuring tight spreads on major currencies and leverage of up to 500x.
Number of currency pairs90+Supported countriesInternational, exceptions apply
RegulatorsASIC, SCB, CMA, CySEC, FCA, BaFin and DFSADeposit MethodsBank transfer, credit/debit cards, PayPal, Neteller, Skrill, and more
Spreads starting at (pips)0.8

74-89% of retail CFD accounts lose money.

Best Swap-free Forex Brokers in 2024 13

#7 Best for high leverage

Leverage up to 500x
80+ currency pairs
Tight spreads
View BrokerBest Swap-free Forex Brokers in 2024 2
Admirals summary
Admirals provides a swap-free account with leverage of up to 500x, allowing you to trade over 80 currency pairs. They have a transparent fee structure and offer advanced trading platforms.
Number of currency pairs80+Supported countriesInternational, exceptions apply
RegulatorsFCA, CySEC, ASIC, JSC, FSCADeposit MethodsBank transfer, credit/debit cards
Spreads starting at (pips)0.8

81% of retail CFD accounts lose money.

Best Swap-free Forex Brokers in 2024 Compared

Platform Number of currency pairs Spreads starting at

(pips)*

Minimum deposit Regulators Deposit method Countries Can Non-Muslim open a swap-free account?
XTB 55+ 0.9 $0 FCA, KNF, CySEC, DFSA and FSC Bank transfer, credit/debit card, and Skrill International, exceptions apply Yes
eToro 50+ 1 $50 FCA, ASIC, CySEC Bank transfer, credit/debit cards, PayPal, Neteller, Skrill, and more International, exceptions apply No
Interactive Brokers 100+ 0.1 pip and tier pricing commission $0 FINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB Bank transfer International, few exceptions apply Yes
Forex.com 80+ 0 (subject to commission);

1.0 (no commission)

$100 AFCA, NFA, CFTC, IIROC, CySEC, CIMA, FSA, MAS, ASIC Bank transfer, credit/debit cards International, few exceptions apply No
Plus500 70+ 1.2 $100 CySEC, FMA, MAS, SFSA, FSCA, ASIC, FCA Bank transfer, credit/debit card, PayPal and more International, exceptions apply Yes
Pepperstone  90+ 0.8 Equivalent of AUD 200 (~$130) ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA Bank transfer, credit/debit cards, PayPal, Neteller, Skrill, and more International, exceptions apply Yes
Admirals 80+ 0.8 $25 FCA, CySEC, ASIC, JSC, FSCA Bank transfer, credit/debit cards International, exceptions apply Yes

*The above spreads are mentioned as presented on the broker’s website. 1 pip equals 0.0001

Best Swap-free Forex Brokers Reviewed

#1 XTB

Best Swap-free Forex Brokers in 2024 15
View BrokerBest Swap-free Forex Brokers in 2024 2

77% of retail CFD account lose money.

XTB at a glance

Number of currency pairs45+
Minimum Deposit$0
RegulatorsFCA, KNF, CySEC, DFSA and FSC
Spreads starting at0.9
Deposit methodBank transfer, credit/debit card, and Skrill

XTB, a renowned global CFD broker, has been operating since 2002 and serves over 800,000 clients. The company is publicly listed on the Warsaw stock exchange and is regulated by multiple top regulatory authorities, ensuring compliance with financial standards. XTB offers swap-free trading accounts, providing traders with an interest-free trading environment and cashback opportunities.

The XTB swap-free account is available through XTB International. It is accessible to clients from specific countries, including Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Malaysia, Morocco, Oman, Qatar, Saudi Arabia, Tunisia, and the UAE.

XTB offers Forex trading on 45+ currency pairs as well as a wide range of CFD instruments, including indices, commodities, shares, ETFs, and cryptocurrencies, all at competitive prices with minimal spreads. You can trade up to 200x leverage without paying swaps or interest but remember that higher leverage also means higher risk.

XTB spreads on major currencies

Currency pair Spreads in pips
EUR/USD spread 0.9
GBP/USD spread 1.4
AUD/USD spread 1.3
USD/JPY spread 1.4
USD/CAD spread 1.8
XAU/USD spread 2,500
XAG/USD spread 250

XTB offers beginner and experienced traders a dynamic trading experience with its two trading platforms, xStation 5 (desktop-based) and xStation (mobile), which have advanced charting tools and indicators. xStation 5 provides a user-friendly interface and customisable features. You can conveniently set up alerts and notifications to receive updates on specific events through email, SMS, or push notifications, such as margin calls, deposits, or withdrawals.

Furthermore, XTB distinguishes itself with its extensive educational materials and robust customer support. The platform offers a comprehensive online library featuring numerous videos to enhance traders’ skills and knowledge. Additionally, users can access reliable customer service through various channels, including live chat, phone support, and email. You can fund your account via bank wire transfer, credit or debit card, or Skrill;there is no minimum amount to open an account.

On the downside, XTB charges a $30 fee for withdrawals of less than $50. Still, they do not impose a fee on withdrawals over that amount. Additionally, they charge a $10 monthly fee after 12 months of inactivity.

For more detailed insights, you can read our XTB review.

XTB xStation5 – Web portal

#2 eToro

Best Swap-free Forex Brokers in 2024 17
View BrokerBest Swap-free Forex Brokers in 2024 2

76% of retail CFD accounts lose money.

eToro at a glance

Number of currency pairs40+
Minimum Deposit$1,000
RegulatorsFCA, ASIC, CySEC
Spreads starting at1
Deposit methodBank transfer, credit/debit cards, PayPal, Neteller, Skrill, and more

Founded in 2007, eToro is a leading online trading platform that offers users access to various financial instruments, including Forex, stocks, ETFs, cryptocurrencies, and commodities. eToro offers swap-free accounts, or Islamic accounts, where you are not charged any interest for opening a position overnight. It offers benefits such as no rollover commissions for contracts lasting over 24 hours, zero charges for account management, and interest-free leverage.

To open an eToro swap-free account, you need to register for a real account, invest a minimum of $1,000, provide identification documents for account verification, and contact customer support for confirmation.

eToro trading fees are generally low and built into the spread, which starts at 1 pip on average and depends on trading hours and the currency pairs. Here is a brief overview of eToro’s spreads on major currencies.

eToro spreads on major currencies

Currency pair Spreads in pips
EUR/USD spread 1
GBP/USD spread 2
AUD/USD spread 1
USD/JPY spread 1,300
USD/CAD spread 1.5
XAU/USD spread 4,500
XAG/USD spread 500

The user-friendly web platform caters to beginners with an intuitive layout and various features to enhance the trading experience, including one-click trading, limit orders, and advanced charting tools. Notably, eToro’s copy trading and social trading capabilities enable users to follow successful traders, copy their trades, and engage in market discussions within a community of over 30 million users.

Although eToro is one of the best brokers for new Forex traders, it might not be the best choice for day traders or professional traders. This is because some currency pairs have wider spreads compared to other brokers. Additionally, USD is the only account currency available, and withdrawal fees are a bit high if you plan to withdraw funds frequently ($5 per withdrawal).

Read our in-depth eToro review for a complete evaluation.

eToro Web platform

#3 Interactive Brokers

Best Swap-free Forex Brokers in 2024 19
View BrokerBest Swap-free Forex Brokers in 2024 2

Interactive Brokers at a glance

Number of currency pairs100+
Minimum Deposit$0
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS, MNB
Spreads starting at0.1 pip and tier pricing commission
Deposit methodBank transfer

Founded in 1978, Interactive Brokers is one of the largest international brokers listed on the NASDAQ exchange (Ticker: IBKR) and is regulated by many international top-tier regulators with no minimum deposit requirement. Interactive Brokers does not explicitly have a swap-free account; however, if you trade using a cash account, you won’t be charged any interest.

The Interactive Brokers cash account requires you to maintain enough cash in the account to cover the cost of a transaction plus commissions. It is a Sharia-compliant account since it follows the following rules:

  • Limited purchase and sale of options and multi-currency trading is allowed through Forex conversions.
  • No shorting of stock or futures day trading benefits
  • Cash from the sale of stock, options and futures becomes available when the transaction settles. Accordingly, you won’t be able to trade until the money is available. Hence, no interest will be charged.

Interactive Brokers supports various account-based currencies, including GBP, USD, EUR, and other major currencies. However, funding these accounts is limited to bank transfers. 

They offer one of the tightest spreads on Forex, but you are subject to a tiered commission based on the monthly volume of your trading activity. Below is a sample of the spreads applied to major currency pairs:

The web-based Client Portal is designed to be user-friendly, making it accessible to both beginners and experienced investors. It provides real-time monitoring, customisable watchlists, alerts, and advanced features, such as over 120 technical indicators for advanced technical analysis. Traders can create personalised templates, access advanced charting tools, utilise various order types, and benefit from Smart Routing, which selects the optimal trading route for each trade.

For traders who prefer to trade on the go, Interactive Brokers offers the IBKR Mobile app, providing convenience and advanced functionality. You can also open a simulated trading account to practice trading before opening a live account and gain access to $10,000 in simulated cash.

On the downside, you might be overwhelmed by the number of buttons and features available on each platform, especially if you are new to trading. However, Interactive Brokers offers a lot of educational materials and video tutorials to assist you in navigating and utilising their platforms effectively.

We recommend you check out our comprehensive Interactive Brokers review.

Desktop Trading App – IB Trader Workstation (TWS)

#4 Forex.com

Best Swap-free Forex Brokers in 2024 7
View BrokerBest Swap-free Forex Brokers in 2024 2

Forex.com at a glance

Number of currency pairs80+
Minimum Deposit$100
RegulatorsAFCA, NFA, CFTC, IIROC, CySEC, CIMA, FSA, MAS, ASIC
Spreads starting at0 (subject to commission); 1.0 (no commission)
Deposit methodBank transfer, credit/debit cards

Forex.com is a global online broker regulated by several top-tier regulatory authorities. It is a subsidiary of a publicly traded company, StoneX, which makes it a safe broker due to strict requirements regarding the reliability and availability of its financial information.

For traders looking for a swap-free experience, Forex.com provides a swap-free account for Muslim traders, offering access to over 80 currency pairs and other financial instruments such as stocks, indices, commodities, and cryptocurrencies through CFDs.

Forex.com offers diverse trading platforms, including the popular MetaTrader4 and MetaTrader5, along with an exclusive platform for desktop, web, or mobile app use, catering to experienced traders with advanced tools. 

Their platforms integrate TradingView charts with over 80 technical indicators and offer personalised watchlists. You also benefit from Reuters news, market analysis, and an economic calendar. Noteworthy features include smart trade tickets, Trading Central for actionable insights, and rapid execution, with 99.88% of trades executed in less than a second and an average speed of 0.02 seconds. Forex.com ensures competitive trading conditions, allowing users to trade EUR/USD as low as 1.0 pips.

Forex.com spreads on major currencies

Currency pair Spreads in pips
EUR/USD spread 1.0
GBP/USD spread 1.5
AUD/USD spread 1.1
USD/JPY spread 120
USD/CAD spread 2.3
XAU/USD spread 1,000
XAG/USD spread 200

The spreads provided in the table are applicable to standard accounts while for RAW pricing accounts, the spreads are significantly lower.

Forex.com has flexible account funding options, including bank wire transfers, credit or debit cards, and e-wallets like Neteller or Skrill. Additionally, it does not charge any fees for depositing or withdrawing funds, and it offers three different account types with varying fee structures to suit different trading styles and volumes.

On the downside, Forex.com charges a $15 monthly inactivity fee if no trades are made within a 12-month period.

Forex.com Trading Platform

#5 Plus500

Best Swap-free Forex Brokers in 2024 9
View BrokerBest Swap-free Forex Brokers in 2024 2

82% of retail CFD accounts lose money.

Plus500 at a glance

Number of currency pairs60+
Minimum Deposit$100
RegulatorsCySEC, FMA, MAS, SFSA, FSCA, ASIC, FCA
Spreads starting at1.2
Deposit methodBank transfer, credit/debit card, PayPal and more

Established in 2008, Plus500 is another broker included in our list of the best swap-free Forex brokers. It has developed its own user-friendly web trading platform and a mobile app. It’s a great choice for those wanting to keep their costs low, as it offers tight spreads, free deposits, and withdrawals.

The swap-free trading account offered by Plus500 is also known as an Islamic account since it complies with Islamic finance principles. It comes with various features, including no overnight charges (overnight funding), commission-free trading, no rollover charges (swaps), and no fees on deposits or withdrawals. 

Opening a swap-free trading account is a simple three-step process. You open a Plus500 trading account, then choose an ‘Islamic trading account‘ during registration, and finally, you can start trading with your interest-free account.

Plus500 spreads on major currencies

Currency pair Spreads in pips
EUR/USD spread 1.2
GBP/USD spread 1.6
AUD/USD spread 1.1
USD/JPY spread 150
USD/CAD spread 2
XAU/USD spread 3,100
XAG/USD spread 200

Plus500 allows trading on over 2,800 CFDs, including 60+ Forex pairs, with leverage of up to 300x. Plus500 offers a wide range of indicators and drawing tools that assist you in analysing trends and market movements. The platform provides advanced trading tools, such as limit orders and guaranteed stops, to manage losses and lock in profits. You can open an account online with a minimum of $100 and fund it by bank transfer, credit or debit cards, and several other electronic payment methods.

On the downside, Plus500 provides very few educational materials and research reports compared to other brokers. Additionally, if you don’t access your account for three consecutive months, a $10 (or equivalent, depending on your currency) monthly fee will be charged. This is a shorter timeframe than some other brokers, who typically impose this fee after one year of inactivity.

Want to know more about Plus500? Check our Plus500 Review.

Plus500 Webtrader Trading Platform

#6 Pepperstone

Best Swap-free Forex Brokers in 2024 11
View BrokerBest Swap-free Forex Brokers in 2024 2

74-89% of retail CFD accounts lose money.

Pepperstone at a glance

Number of currency pairs90+
Minimum Deposit$0
RegulatorsASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA
Spreads starting at0.8
Deposit methodBank transfer, credit/debit cards

Pepperstone was established in 2010 and currently serves more than 400,000 traders across the globe. It is ideal if you want a broker offering tight spreads with access to various trading platforms, including MetaTrader4, MetaTrader5, cTrader, and TradingView. They give you access to trade over 90 currency pairs with leverage that can go up to 1:500 but remember that higher leverage means higher risk.

Pepperstone offers a swap-free account that is tailored for traders looking for an interest-free trading experience. You benefit from deep liquidity and key features such as scalping, Expert Advisors (EAs), and hedging, in addition to spreads that start at 0.77 pips on the EUR/USD currency pair.

Pepperstone spreads on major currencies

Currency pair Spreads in pips
EUR/USD spread 0.8
GBP/USD spread 1.4
AUD/USD spread 1.2
USD/JPY spread 130
USD/CAD spread 1.4
XAU/USD spread 500
XAG/USD spread 100

You can choose from a range of trading platforms to elevate your trading experience. Each platform offers unique features and customisation options:

  • MetaTrader 4 (MT4): Renowned for its customisation options, expert advisor creation, and a wide range of indicators.
  • MetaTrader 5 (MT5): Offers enhanced functionality, faster processing, and advanced customisation options.
  • cTrader: Intuitive and user-friendly, providing advanced features for order control and powerful charting.
  • TradingView Integration: Easily integrated with cTrader, enabling access to a web-based social network for traders and fostering idea-sharing within a large trading community.

Pepperstone offers two account types: Standard account, suitable for new traders, and Razor account, ideal for scalpers and algorithmic traders. There are no commission charges, and you can open an account with a balance of AUD$200 or equivalent in various base currencies, including USD, AUD, EUR, and GBP. However, if a trade on this account is held for 5 days, an admin charge of $100 (per 1 standard lot size) will be deducted from the account’s balance.

Here is a list of countries where Pepperstone provides swap-free accounts: Albania, Algeria, Azerbaijan, Bahrain, Bangladesh, Brunei, Brunei Darussalam, Burkina Faso, Chad, Egypt, Guinea, Indonesia, Jordan, Kosovo, Kuwait, Kyrgyzstan, Malaysia, Maldives, Mauritania, Morocco, Niger, Oman, Pakistan, Palestinian Territory, Qatar, Sierra Leone, Tajikistan, Tunisia, Turkmenistan, Turkey, and Uzbekistan.

Pepperstone account integrated with TradingView

#7 Admirals

Best Swap-free Forex Brokers in 2024 13
View BrokerBest Swap-free Forex Brokers in 2024 2

81% of retail CFD accounts lose money.

Admirals at a glance

Number of currency pairs80+
Minimum Deposit$25
RegulatorsFCA, CySEC, ASIC, JSC, FSCA
Spreads starting at0.8
Deposit methodBank transfer and credit/debit cards

Established in 2001, Admirals is a global broker specialising in Forex and CFD trading. The company is regulated by various financial authorities such as FCA and ASIC, ensuring a secure and compliant trading environment. Admirals offers a swap-free account, also known as an Islamic account, tailored to Muslim traders and extending the benefit to all, eliminating interest charges for overnight positions.

The swap-free account offers the opportunity to trade over 80 currency pairs, as well as a variety of other CFD products, including indices, commodities, stocks, and bonds. Admirals enhance the trading experience by providing a competitive spread starting at 0.8 pips and a leverage of up to 500x, empowering traders with heightened financial capabilities. This account not only ensures no interest or swap adjustments on overnight positions but also eliminates concerns about spread widening and specific up-front commissions and imposes no limitations on trading styles or strategies.

Admirals spreads on major currencies

Currency pair Spreads in pips
EUR/USD spread 0.8
GBP/USD spread 1.0
AUD/USD spread 1.0
USD/JPY spread 100
USD/CAD spread 1.6
XAU/USD spread 2,500
XAG/USD spread 220

Admirals offers various trading platforms to cater to diverse preferences. The widely recognised MetaQuotes platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are available, along with a proprietary trading platform that provides a unique trading experience. These platforms offer robust tools for traders, including advanced charting, analysis, and execution capabilities.

You can open an account with just $25, but while the swap-free Forex account exempts users from swaps or interest on various instruments, there is a flat administration fee for opened trades with a holding period exceeding a pre-specified duration. For instance, on EURUSD, after 10 days, they charge $7 per lot.

MetaTrader platform by Admirals

How to choose the best swap-free Forex broker

When selecting a swap-free Forex broker, several key features should be considered to ensure a seamless trading experience. Here are some main features to look for:

  • Swap-Free Account: Ensure the broker states clearly that they provide a swap-free account.
  • Diverse Tradable Instruments: Check if the broker offers a comprehensive range of tradable instruments, including major, minor, and exotic currency pairs, as well as commodities and indices.
  • Competitive and Transparent Pricing: Look for brokers with competitive and transparent pricing featuring tight spreads and considerate leverage options.
  • User-Friendly Trading Platform: Opt for a broker with a user-friendly trading platform and robust tools for analysis and risk management.
  • Regulatory Standing: Verify the broker’s regulatory standing with recognised financial authorities to ensure a secure trading environment.
  • Customer Support: Assess the broker’s customer support services, as you need to ensure they are responsive, knowledgeable, and accessible for any inquiries or assistance you may require.

The Bottom Line

It can be challenging to compare different trading conditions and find the best swap-free Forex broker. There are various parameters to check, and it takes time to collect all the data and make the best decision for your needs. However, our analysts have completed this work for you and presented their results and analysis of the “Best Swap-free Forex Brokers in 2024,” which is summarised below:

#1 XTBBest Overall
#2 eToroBest for social trading
#3 Interactive BrokersBest for extensive currency pairs
#4 Forex.comBest for tight spreads
#5 Plus500Ideal for zero-commission trading
#6 PepperstoneBest for multiple trading platforms
#7 AdmiralsBest for high leverage

Throughout this comprehensive analysis, we have highlighted the essential features and benefits of these top swap-free Forex brokers. Whether you are a new Forex trader or an experienced professional seeking to reduce your trading fees, we hope this article has provided valuable insights. When selecting a broker, we recommend opening a demo account to test the features before making your final decision. 

Other FAQs

What is a swap-free Forex broker?

A swap-free Forex broker allows traders to engage in interest-free trading by eliminating overnight swap or interest charges. It accommodates individuals who, for religious or other reasons, prefer not to participate in transactions that involve interest.

Are there any specific risks associated with swap-free Forex trading?

There aren’t specific risks uniquely tied to swap-free Forex trading; Risks are similar to any regular trading account. However, it’s important to consider that the absence of overnight interest may impact the overall cost structure of certain trades, potentially influencing profit and loss outcomes. 

What is the minimum balance to open a swap-free account?

Many swap-free Forex brokers do not have any minimum balance requirements, so you can start trading with as little as $1.

Can I use demo accounts to practice trading before opening a real swap-free Forex trading?

Yes, all the brokers mentioned in this article offer demo accounts that allow you to practice trading strategies and familiarise yourself with the platform without risking real money.

Toni Nasr, CFA, FRM
Fintech Analyst

Toni is a Fintech Analyst with over 8 years of experience in the financial industry where he worked as a financial control analyst at a regional bank and later conducted independent investment research analysis.

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