Cyprus based forex-broker Forex Time (FXTM) is launching a new service for those traders who cannot take a break from the markets during the weekend. Forex traders can enjoy swap-free trading from Monday to Friday until the end of August.
FXTM launched back in February. For more details about this interesting offer, here is the official press release:
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 Forex Time 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 Forex Time 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 Forex Time, said: “At Forex Time 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 Forex Time 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.
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