FXEM - EMPIRE MARKETS - Overnight Positions

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Swap-Free Accounts

A swap-free account, also known as an Islamic account, is a type of trading account that is designed to meet the requirements of traders who adhere to Islamic Sharia law. Therefore, swap-free accounts are designed to allow traders to hold positions overnight without earning or paying interest. Swap-free accounts are available at FXEM.

Overnight Trades with Swap Rates

In the foreign exchange (forex) market, overnight trades are those positions that remain open after the end of the trading day. When a trader holds an overnight position, the broker may charge a fee known as a swap rate or rollover fee. A swap rate is the interest rate differential between the two currencies being traded.

When a trader buys a currency with a higher interest rate and sells a currency with a lower interest rate, the trader gains the interest rate differential. Conversely, when a trader buys a currency with a lower interest rate and sells a currency with a higher interest rate, the trader pays the interest rate differential. If a trader holds a position overnight, it will automatically roll over the position to the next trading day and the trade's price will be adjusted to reflect the overnight interest rate differential.

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