Swap or overnight fee, is an interest paid or earned as a result of holding a position open overnight. The process of extending the settlement date of an open position is known as rollover, and the rollover rates is another term for swap or overnight fee.
The swap value can be either positive or negative, depending to the current value of the currency pairs’ rates as well as constitutes interest fee gathered for that that respective security and their volatility. The positive sum is credited on the trader’s account, while negative is debited.
UAGTrade understand that trading conditions should be adapted to individual trading needs. Thus for Muslim countries, we offer swap-free account, which implement no swap or rollover interest on overnight positions which is against Islamic faith. Now with us, Muslim traders can take positions without being swap charged or credited an overnight interest.