Swap free (trading without swaps).

Swaps, or overnight fees, have always discouraged most traders from extending day trades. Recently, swap-free accounts have emerged, eliminating this fee.

Swap-free – trading in which the difference between national bank rates is not taken into account, and the fee for transferring positions is fixed.

The primary purpose of these accounts is to prevent some Muslims from trading long-term due to religious beliefs. This occurs due to the use of swap fees, which are prohibited by Sharia law.

However, don't assume that the dealing center will rollover your positions for free and pay the commission for you. In fact, swap-free accounts also incur a commission, but it's a fixed amount depending on the currency pair.

For example, for popular instruments such as EURGBP, EURJPY, and EURUSD, the fee is around $5, although the actual net swap for EURUSD can be as little as $2-3 per lot. For other currency pairs, this figure can reach up to $20.

This means that this type of trading isn't more profitable; it's intended solely for traders who can't work using the standard model, and it's impossible to save money on swap-free accounts.

Therefore, if you don't have a specific need to use these accounts, first compare the possible swap rates and then decide which option to use in your online trading .