Any experienced trader knows that one of the downsides of executing a medium-to long term forex trading strategy is the necessity of leaving positions open overnight – this is when trades incur rollover charges, also known as forex swap rates. In response to this, international forex broker ForexTime Ltd (FXTM), has just announced that they are launching an “Over-the-weekend (OTW)” account, where traders can enjoy swap-free trading from Monday to Friday.
Running from 1 June to 31 August 2013, the “OTW” account means that ForexTime clients can benefit from trading swap-free during the week on any trading instrument and they will only be charged a small weekend fee every Friday at market close.
Olga Rybalkina, CEO of ForexTime, said: “At ForexTime our priority is always to ensure that our clients get the maximum value from the time they spend trading. In response to their growing needs, we have launched the OTW account for the summer period, to give even more to the trading experience.”
A forex rollover or swap is the interest added or deducted for holding a position open overnight. The ForexTime OTW account allows clients to trade swap-free and for positions to be held for any length of time from Monday to Friday without incurring any additional fees or charges. If clients choose to leave any positions open over the weekend they will be charged a small weekend fee on Friday at market close.
The OTW account is one of several initiatives by ForexTime which puts traders and the trading experience at the heart of the international broker’s operations. Committed to ensuring client satisfaction and helping traders get more out of their trading experience, ForexTime has also recently launched the FXTM margin calculator and VPS hosting services.
For more information visit http://www.forextime.com/goodbye-swaps
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This article was first published on 11th June 2013