Prime Classic and Prime Elite can be offered as swap free accounts for any trader who, for religious reasons, may choose not to receive or pay daily swap fees.
When trading a Prime Swap free account, currency pairs held overnight will not be paid or charged a daily swap fee. Swap free terms are NOT AVAILABLE for FX pairs containing the following currencies – CNH, PLN, RUB, HUF, ZAR, MXN, TRY and NZD.
If a swap free trade, for any currency pair, is held open for more than 10 (ten) days swap fees may be applied, unless this requirement is waived by ADS Securities. With prior notice ADS Securities reserves the right to terminate swap free account privileges at any time.
If swap fees are applied the following terms and timings will be followed:
- MT4 Prime – at 17:00 EST swaps will be applied to all positions held open past 16:59 EST that trading day
- OREX Optim – between 1:00 EST and 3:00 EST swaps will be applied to all positions held open past 16:59 EST on the previous trading day
- If swap fees are being applied they will be charged daily from day 10 onwards until the position is closed
- Swap fees are not applied to any CFD* positions
Please note that during daylight savings, all times in EST will occur one (1) hour earlier.
* While CFDs do not incur swap fees, they are liable for dividends and daily funding charges which will be reflected in the swap fees section of customer statements. For additional information please refer to the dividends and daily funding charges information.
Swap free accounts offer all the benefits of the Prime Classic and Prime Elite accounts:
- Spreads (variable depending on market condition)
- No increase on minimum deposit requirement or limits on deposits
- No minimum frequency of trades