This article explains the swap-free eligible stocks and trading account types of FXGT, an overseas FX company. Do you know what swap points are? FXGT adopted a swap point free system in 2022. By becoming swap-free, the cost of trading has been changed to zero. This has made it easier to hold stocks that previously had negative swap points for buy and sell.
What is swap-free?
Do you know what is swap-free in the first place? A swap point is a fee paid or received when a position is carried over from day to day. Before the introduction of swap-free, many users were dissatisfied because the swap points were set higher than other brokers. However, a swap-free system will be introduced in 2022. This is also clearly stated on the official website. Swap-free makes it easier to hold positions for a long time because there is no cost when carrying over positions to the next day.
Swap-free service discontinued
We have decided to discontinue support for our convenient and unique swap-free service for “Standard+ Accounts” and “Mini Accounts” as of June 19, 2023. Please keep this in mind as you summarize this article and refer to it later. There are also target stocks that apply to specific financial products such as crypto, crude oil, index, pairs, metals, and synthetics. Check the overview from the home page. Trading is possible from Monday to Friday.
Target issue
FXGT has introduced swap-free for three items: cryptocurrencies, gold, and stock indexes. The swap points for many items, including FX currency pairs, remain unchanged. Therefore, there is not much benefit for those who mainly trade foreign exchange. The official website has a list of swap points and fees for cryptocurrencies, etc., and there is also a calculator, so let’s simulate the calculation for BTC, etc.
virtual currency
When we researched virtual currencies, we found that stocks with high trading volume and popular stocks were eligible for swap-free trading. The trend is to mainly use large major currencies such as Bitcoin, as well as coins such as Polkadot, Cardano, Bitcoin Cash, Dogecoin, Ethereum, Tether, and Litecoin, but the proportion of transactions is small among all of them. Investors can utilize their credit to invest in these financial products.
| BTC |
| BCH |
| XRP |
| ETH |
| LTC |
| ADA |
| XLM |
| DOT |
| SHB |
| DOG |
Stock index
Stock index stocks become swap-free for only 3 days after execution. It is recommended because it is a carefully selected financial product brand in the industry and has a low upper limit on transaction costs. The underlying volatility is not that high, so it is recommended even for those without experience or knowledge. Download the platform from the website and give it a try.
| US30 |
| US100 |
| US500 |
| JP225 |
| UK100 |
| GER40 |
| FRA40 |
| AUD200 |
| VIX |
Advantages of swap-free
How will swap-free trading change? These include:
Long-term holding
Until now, by carrying over positions across days, swap points could occur and become negative. If it is swap-free, there will be no cost when carrying over positions, so you can buy and sell at any time. And it became easier to hold as a long position across the day.
No weekend payment required
Swap points will not occur for stock index stocks for 3 days after holding a position. Swap points were generated even while the market was closed, but now that they are free, they can be carried over to Monday without generating swap points.
Eligible account type
The account types offered for swap-free are as follows. There are eligible and non-eligible accounts among mini, crypto max, standard, PRO, and ECN. The maximum leverage for all is 1000x. Detailed information is explained below. Our service has a large leverage, so please consider the lot and profit and loss. The official website of the operating company also offers excellent bonuses, so make use of them when aiming.
| Pro | 〇 |
| ECN | 〇 |
Swap-free conditions
Only the environments of professional accounts and ECN accounts are swap-free. But there are conditions. According to the latest information, trading targets are often high interest rate currencies such as miners and exotic currencies.
| Crypto | Please note that MT5 account points will be generated for PRO accounts and ECN accounts. |
| Indice | PRO account: first 6 days from entry ECN account: first 3 days from entry |
| Gold | PRO account: first 6 days from entry ECN account: first 3 days from entry |
| Forex | PRO account: first 6 days from entry |
| Other | PRO account: first 6 days from entry |
Swap-free conditions are only available for a few days after entry. Please note that swap points will occur normally after that.
Stocks not eligible for swap free
Some stocks are not eligible for swap-free. Basically, major currencies such as the US dollar, Japanese yen, and euro are adjusted and not eligible. Although it is a high leverage, there is a possibility of incurring fees and interest losses, so be careful with your funds. It can be a risk rather than a profit. In order to protect your assets, consider the above and do it according to your purpose. Make a profit with different investments while looking at the details of the trade with MT4 or MT5 tools. Even beginners can make a profit in the market.
NFT/DeFi
On the other hand, foreign exchange has not become swap-free. Also, swap-free is not introduced for some cryptocurrencies. The following cryptocurrency stocks are not subject to swap-free. Also, please note that Synthetic Pairs are not eligible. Synthetic pairs are stocks that combine cryptocurrencies with products from different markets, such as stock indices and gold.
| NFT | CHILIZ、ENJIN COIN、DIGIBYTE、Theta、Mana |
|---|---|
| DeFi | Chainlink、Wrapped Bitcoin、Ox ZRX、Republic、Uniswap、Synthetix、Crypto.com coin、Aave、Compound、Polygon |
energy
Be careful, as swap points will be incurred for precious metals and energy other than gold and silver. There are few brands available. In order to make optimal trades, hold the lot size and do it safely as liquidity is high. Read the case and situation. There are also unlimited and abundant promotions and benefits, so add them as credits and fight.
| Sell | Buy | |
| USOil | -0.72 | -1.32 |
| UKOil | -1.98 | 0.15 |
| NGAs | 5.75 | -6.35 |
Gold/Silver held for more than 4 days
For gold and silver, swap points will be generated after the fourth day of holding a position. Since it is swap-free within three days, there is no problem even with swing trading as long as you settle early. Be careful, as stocks also generate swap points. Customers can always receive them on the screen, so check the points you have earned after a certain number of days have passed. If you are doing it for a medium to long term period, be careful about how you use it.
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