TabTrade, a forex and CFD broker, has launched a Swap-Free Account option on MetaTrader 5 for traders whose religious or personal beliefs prohibit overnight interest charges. The account is available in supported regions through the TabTrade Secure Account Portal, with no minimum deposit requirement and automatic activation following identity verification.
- Fee Structure: Service fees apply after a position remains open for seven calendar days and again after each additional seven-day period, calculated as fixed US dollar amounts per average lot and varying by instrument
- Trading Costs: No overnight swaps; no separate trading commission
- Available Instruments: Major and minor forex pairs, shares, futures, and precious metals
- Account Activation: Eligible clients can create accounts without a separate approval step after identity verification
A standard overnight swap adjusts trading positions at daily rollover, either debiting or crediting the account. The Swap-Free Account eliminates this mechanism and replaces it with transparent position-holding fees. TabTrade publishes all fees on the account page, allowing traders to calculate holding costs before opening positions.
A trader should be able to check the cost of holding a position before opening it. The fee schedule sets out the charge for each instrument and when it applies, including if the position stays open for several weeks.
– Benjamin Boulter, Founder and CEO, TabTrade
The company clarified that the Swap-Free Account does not constitute a religious ruling or certification, and traders remain responsible for assessing whether the account aligns with their personal requirements. TabTrade emphasized that removing overnight swaps does not eliminate trading losses or the inherent risks associated with CFD and margin forex trading. Access remains subject to verification, regional availability, and applicable terms.
Benjamin Boulter, Founder and CEO of TabTrade. Source: LinkedIn
