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Forex Version XV, Foreign Exchange Market Discussion
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hdr088
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 Jun 28 2015, 02:43 PM
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Getting Started
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Hi  Just wondering, just want to ask regarding swap
http://www.fxprimus.com/en/instruments/swap-ratesCurrency Short Long EUR/USD 0.4 -1.9 suppose im going long and have 10,000 units (0.1 lot) 1) so if I am holding for 1 night, i will get charged for USD0.19 2) and supposed that the rate maintain the next day and i am still hold it thus my rate is USD0.19+0.19 = USD0.38 3) and just wondering if I have Swap free account, I dont to pay any, even if I hold for 1 year? are all my assumptions correct? Thanks for your time  |
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hdr088
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Jun 28 2015, 02:50 PM
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Getting Started
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QUOTE(Zanmai0146 @ Jun 28 2015, 02:46 PM) Yes, swap free account no need pay. Currently one of my student having swap free account. So envy him, hold for few days no swap charges. thanks, and my calculation? coz just wondering if 0.19USD per day * 356 days = USD 67.64 i might just go for long term if current situation does not favor me rather than close the order and probably have more losses |
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hdr088
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Jun 29 2015, 07:47 PM
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Getting Started
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QUOTE Swap-Free (Syariah/Sharia) accounts are generally but not always offered to our clients of Muslim faith. A swap-free account precludes the account from either being credited or debited swap interest at the end of each trading session. The Company, however, fully reserves the right to remove the swap-free designation from any account which is holding a position in which the client owes interest for over 5 trading days. The Company will notify the Customer within 24 hours of removal of swap free designation, but is not required to notify the Customer of such removal. so shariah maximum 5 days of swap free only... from fxprimus.. need to read correctly, sometimes if wrong will end up paying more.. which is going the other way around concept in sharia is to not to burden to one who owe.. but if the 'islamic account' you ended up paying more (burdern more), then it is not islamic |
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