4 Best Low Swap Fees Forex Brokers for 2024

List of Top Forex Brokers with Low and No Swap Fees

Understanding Swap Fees in Forex Trading

Swap fees, or rollover fees in forex trading, are interest payments that traders incur for holding a position open overnight. These fees are based on the interest rate differential between the two currencies in the traded pair. If you buy a currency with a higher interest rate compared to what you sell, you might earn interest (positive swap). Conversely, if you buy a currency with a lower interest rate, you will likely pay interest (negative swap).

Swap fees are charged daily when the forex market closes, with brokers often adding a mark-up. They are significant for long-term traders who hold positions for extended periods, but less so for short-term or day traders. In Islamic finance, traditional swap fees are not permissible, leading to the creation of Islamic or swap-free accounts by brokers.

How did FXEmpire select the Best Forex Brokers with Low Swap Fees?

• We carefully considered the needs of CFD traders looking for low swap fees and focused on the qualities that benefit this group the most.
• We selected brokers with a high overall score in our rating system.
• We opened accounts with each broker and checked for low swap rates in our hands-on tests.
• We looked for brokers licensed by top-tier regulators and assessed their overall level of financial strength and transparency.
• We checked the availability of a wide variety of tradable CFD instruments.
• We tested fees and trading costs, including spreads, inactivity fees, and withdrawal fees, and selected competitive brokers.
• We reviewed available platforms and looked for key features, including robust charting, diverse order types, 1-click trading, watchlists, alerts, and an intuitive interface.
• We looked for fast, responsive, and helpful customer support via phone, live chat, and email.
• We verified the availability of a wide variety of deposit and withdrawal methods, making it fast and easy to move money in and out of your account.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s go through the selected brokers.

How to Choose the Best Forex Broker for Low Swap Fees?

When looking for the best forex broker with low swap fees, you should pay special attention to the following points.

Can I trust the broker?

To be authorized and regulated, brokers must undergo audits, meet capital requirements, and provide segregated accounts and negative balance protection. You can search the regulator’s website to confirm the broker’s status and inspect any disciplinary action. The broker’s size and operating history are also worth considering. You can usually find this information on the company’s LinkedIn page.

Read more about Best regulated forex brokers in our detailed guide.

How and when the broker charges swap fees?

Swap fees in forex trading are charged by brokers when a trader holds a position open overnight. The specifics of how and when these fees are applied can vary slightly depending on the broker, but the general process is as follows:

• Time of Charge: Swap fees are charged by brokers at a specific time, typically at 5 p.m. EST, coinciding with the end of the forex trading day. If a position is open at this time, the swap fee applies.
• Interest Rate Differential: The fee is based on the difference between the interest rates of the two currencies traded. If the bought currency has a higher rate than the sold one, you might earn interest (positive swap); otherwise, you’ll pay interest (negative swap).
• Broker’s Mark-Up: Brokers may add a mark-up to the swap fee, varying from one broker to another.
• Daily Charges: Swap fees accumulate daily for positions held open more than one day.
• Weekend and Holiday Charges: Holding a position over the weekend or a holiday can incur higher swap fees to cover the non-trading days, often charged as a three-day fee on Wednesdays or the day before a holiday.

What other fees to consider when choosing a broker?

It’s important to understand and compare the fee structures of different brokers before making your choice. When selecting a forex and CFD broker, there are several types of fees that a trader should consider:

• Spreads: The spread is the difference between the buying and selling price of a financial instrument. It’s the main way CFD brokers make their money. Lower spreads generally mean lower trading costs. See our guides on the best zero spread and best lowest spread forex brokers.
• Commissions: Some brokers charge a commission on trades in addition to spreads. This is often a fixed fee per trade, or it can be a percentage of the total trade volume.
• Inactivity Fees: Some brokers charge inactivity fees if you don’t make a certain number of trades within a specified timeframe.
• Withdrawal Fees: Some brokers may charge you for withdrawing money from your account. Check the fee structure and withdrawal methods before choosing a broker.

Not all brokers charge fees in the same way. Some charge a commission per trade, while others earn through the spread. Some may also include hidden charges like inactivity fees or withdrawal fees. It’s crucial to understand these fee structures to make an informed comparison.

How to choose a CFD trading platform?

An intuitive, easy-to-navigate platform will allow you to launch into the trading world with minimal hitches. The most user-friendly platforms are typically browser-based platforms created by the broker. Look for easy-to-implement features such as watchlists, trading from the chart, search, news, and a customizable interface. MetaTrader and cTrader platforms have advanced features like backtesting, automated trading, and a wide range of order types, though are less user-friendly.

There are a variety of trading platforms available to forex traders. Here are a few that you may want to consider for gaining great trading results.

• MetaTrader 4 and MetaTrader 5 are two of the most popular and widely used forex and CFD trading platforms, offering a good range of features and tools, such as advanced charting tools, automated trading through expert advisors, custom indicators and expert advisors, one-click trading and portfolio management. Check out our dedicated guides on best MT4 brokers and best MT5 brokers.
• TradingView is another growing and popular charting platform that makes it possible to track almost all markets, and describes itself as a “supercharged super-charting platform and social network for traders and investors.” TradingView has over 50 million users. Check out our list of the best forex brokers offering TradingView.
• cTrader, developed by Spotware Systems, is a strong platform for high-frequency day traders of the forex market. It specializes in providing an algorithmic social trading community for the financial market. Read more about best cTrader brokers.
• ZuluTrade is a social forex and CFD trading platform that allows you to easily follow and copy other traders. As Zulutrade has a more social approach, tools for charting and technical analysis are limited.

You can also check out our dedicated guide on best forex trading platforms.

What is the minimum deposit?

The minimum deposit required by a CFD broker varies widely and depends on the individual broker’s policies. Typically, the minimum deposits at CFD brokers are relatively low. For example, among the brokers listed in this article, minimum initial deposits range from $1 in the case of JustMarkets to $250 in the case of Ardu Prime.

What account types are available?

A broad range of account types helps a broker cater to different trader profiles. For example, a simple STP account may be the best for beginners in the markets, while an ECN/Raw Spread account can help sophisticated, active traders keep their costs to a minimum.

Here are some of the most common account types offered by CFD brokers:

• Standard Accounts: These are the most common types of accounts that CFD brokers offer. They usually provide access to a wide range of financial instruments, including indices, commodities, shares, and more. The minimum deposit requirement for standard accounts can vary greatly between brokers.
• Mini or Micro Accounts: These accounts are designed for beginners or traders with smaller account balances. They often allow trading with smaller contract sizes, which can be a way to manage risk, especially for new traders learning the ropes.
• VIP or Premium Accounts: These accounts are designed for high-volume or professional traders. They often come with lower spreads or commissions, a dedicated account manager, and other perks like free access to premium research or advanced trading tools. However, they usually require a higher minimum deposit.
• Demo Accounts: Almost all CFD brokers offer demo accounts where traders can practice their strategies with virtual money before risking real money. This is a great way to get to know the broker’s platform and test your trading skills. Read more about best forex demo accounts.
• Islamic Accounts: These are swap-free accounts that comply with Islamic law, which prohibits earning or paying interest. They are designed for traders of the Islamic faith. Read more about best Islamic forex accounts.

Explore Best micro forex accounts and Best big forex accounts.

What is the available leverage?

The leverage options at CFD brokers offer a substantial advantage when trading CFDs. The extent of leverage you can access depends on where your broker (or broker’s entity) is located. For instance, if you’re trading through a UK-based, FCA-regulated broker, you’ll find the maximum leverage capped at 1:30. In contrast, offshore brokers frequently provide much higher leverage, sometimes reaching up to 1:500 or beyond.

The level of available leverage depends on what type of asset you are trading. For example, here is the complete breakdown across each asset category via a CySEC-regulated broker:

• Forex Majors: 1:30
• Forex Minors: 1:20
• Forex Exotics: 1:20
• Indices Majors: 1:20
• Indices Minors: 1:10
• Commodities: 1:10
• Gold: 1:20
• Metals: 1:10
• Energies: 1:10
• Cryptos: 1:2
• Futures: 1:10
• Bonds: 1:5
• Shares: 1:5

Beware of using excessive leverage, even if it is tempting. It’s an enthralling feeling to control a large position in the market. But when markets are moving fast and you are holding a highly leveraged position, there is a very high risk of losing money. Accounts can get wiped out in seconds.

However, if you’re set on pursuing higher leverage, FX Empire offers a list of the best forex brokers with high leverage, carefully selected to suit specialized trading needs.

What to avoid when choosing a CFD broker?

Opening an account with an unregulated offshore broker entails substantial risk. In some instances, brokers with offshore entities purchase private insurance from Lloyds of London to mitigate the risk for clients. Be sure to check what kind of account insurance is available to safeguard your account – whether a compensation fund is provided in association with a regulator or private insurance.

Another important area to check is trading costs and fees. Some brokers may have very wide spreads, making it expensive to get in and out of trades. In some cases, for example, when trading CFDs on shares, commissions may also be added. Among account-related fees, find out if there is an inactivity fee – many brokers charge a sum each month after your account has been dormant for a set period. If you take a break from the market and are unaware of this, you could be surprised to find your account balance lower when you return to trading.

How to avoid forex and CFD scams?

• High-Return Guarantees. A common scam in the forex and CFD industry involves vendors offering a trading strategy that guarantees an outlandishly high return in little time. These may involve automated trading using bots or a signal service where trades are shared via chat or social media. Nobody can guarantee returns with certainty, and it is more likely that such strategies will lose money. When assessing strategy or signal providers, you should look for a live track record audited by a third party and be conscious that past performance does not guarantee future results.
• Lack of Protection. Traders should also be cautious about opening an account with an unregulated offshore broker. Such brokers may offer a straightforward account opening process, bonuses, and high levels of leverage, but client funds are typically not protected. Meanwhile, brokers regulated by top-tier authorities must undergo regular audits and are held accountable for misconduct. Traders can also benefit from having their funds held in segregated accounts, negative balance protection, and a compensation fund in the event of broker insolvency.

And if you are still uncertain, you can always check out our database of reviews to find the most reliable brokers.

Our Methodology

For this guide, we applied our advanced methodology, focusing on industry leaders. FXEmpire, reviewing brokers since 2011, offers in-depth analysis with over 250 data points per broker.

We evaluate brokers across nine categories: Trust, Fees, Platforms and Tools, Tradable Instruments, Customer Service, Deposit and Withdrawal, Account Types, Research, and Education. Our reviews cover key areas like regulatory status, ensuring clarity on fund safety and benefits.

The review process includes live testing, research, questionnaires, broker demonstrations, assessing spreads, swap fees, and other costs. This helps determine a broker’s competitiveness and platform usability.

Our editorial integrity ensures unbiased, objective reviews based on measurable data. We prioritize well-regulated companies for their trustworthiness and financial stability, focusing on low spreads and swap fees. We also consider the richness of trading platforms, range of tradable instruments, account diversity, customer support efficiency, deposit/withdrawal ease, leverage options, and educational resources. Our goal is to empower traders with comprehensive market knowledge, effective strategies, and informed decision-making capabilities.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

Meet Our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

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