Been thinking about switching to a swap-free account since the overnight fees are killing my longer positions.
Wondering if the spreads are actually wider or if that’s just broker marketing talk. Anyone notice a real difference in execution?
Spreads can be wider, but it often amounts to just a few pips depending on the broker. I switched six months back and found the difference in spreads was minor compared to the savings on overnight fees. Brokers need to balance their earnings somehow, so this makes sense.
I used a swap-free account before. The spreads were slightly wider but saved me a lot on overnight fees.
I’ve used swap-free accounts with Pepperstone and IC Markets for years. Yeah, spreads are wider - about 0.2-0.5 pips on majors - but it’s not massive.
Execution’s been solid though. Haven’t noticed any delays or requotes I could pin on the account type.
It’s worth it if you hold trades past Wednesday or keep positions open for days. Those triple swaps on Wednesdays used to kill my profits.
Watch out for admin fees though - some brokers use these instead of swaps. Check the fine print since they can hit differently than normal swap costs.
Spreads can vary but execution seems fine.