Yadix now offers Gold Swap Free Trading for all clients on MT4
Now Available – Gold Swap Free Trading on Yadix MT4
Yadix, the well-known international multi-asset STP broker, is pleased to announce the launch of swap-free gold XAUUSD. This upgrade is an enhancement designed to provide greater convenience for gold XAUUSD traders pursuing both long- and short-term trading strategies, who wish to take advantage of the current market volatility.
When trading Gold positions the trader is contracted for the payment of swaps every day. Swap is a rollover fee charged by the liquidity providers, based on interest rates and are applicable to positions kept open overnight. Traders who keep their trade open until the next day must pay or receive a payment of this rollover fee or what is known as the swap fee. With Gold however whether you buy or sell, the swap fee is always in the form of a deduction.
As Gold is traded traditionally against the US dollar, the USD interest rate is used as the base for the swap rate of XAUUSD.
Therefore, a trader trading XAU against the dollar will have to pay or will be paid interest according to the trade they have opened.
Buying Gold means a trader will buy Gold and sell USD, Selling USD means a trader will have to pay interest, which is payable per year, therefore every day the trader will have to pay a small fraction of the overall interest due.
For followers of the Islamic Faith, any transactions involving interest is prohibited and therefore, Islamic traders face restrictive trading conditions, or must trade against their religious beliefs. That’s why Yadix has introduced swap free trading.
This issue of interest, whether paying or being paid interest causes conflicts for clients of the Islamic Religion means Swap Free asset classes and Trading Accounts are a great option. Even though the markets demand “swaps”, Yadix as a broker is committed to cover these costs for clients of the Islamic Religion and followers of Shariah Law, as an additional benefit for Yadix’s traders.
With the Yadix Swap Free Accounts, traders will not be forced to pay the overnight rollover interest “Swaps” on Gold and al other symbols, and will also not receive any interest that maybe due for payment, meaning Yadix’s Swap Free accounts are Shariah Compliant.
Rollovers are charged at the end of the trading day at 22:00 UK time for traders who decide to fold open positions overnight. But for Swap Free account holders, Gold trades and all other symbols, the swap fees will not be applies to your open trades. For traders who do not follow the Islamic religion, who do not want to experience swaps, will need to close trades before 22:00, however, bear in mind that spreads can widen during these times to counter-act the rush to close trades before the rollover. We highly recommend that the closing of trades is planned to avoid unnecessary costs.
Further to the above, as the markets are closed on Saturday, Sunday and during holidays, triple swaps are payable each Wednesday, and therefore, most traders will try to close trades off prior to Wednesday at 22:00.
If you are a follower of the Islamic Faith and need a “Swap Free” account, you are invited to register an account at Yadix Broker. Once your account is registered and funded, you can contact Yadix’s support team to request it be converted to the “Swap Free” option and start your trading, and benefit from no overnight swaps on Gold, Silver, Natural Gas, All FX Symbols and all Indices.
Furthermore, Yadix’s client’s benefits from great advantages like 1:500 leverage on Gold, and no deposit fees to make the conditions for all traders amongst the best in the industry.
Once you start Gold trading with Swap Free conditions, you will can execute both short or long-term positions in the markets and avoid paying any rollover, “swap” fees on your trades. You will benefit from the same trading conditions and benefits as the normal Yadix accounts with the added benefit of not paying any Swap fees and means you will access the MetaTrader 4 Platform like all the other traders, and trade Gold as well as all currencies, all indices, CFDs and commodities.