This is where people stumble when comparing overseas forex swap points. "Which broker offers the highest swaps?" "Is overseas forex swap-free truly cost-free?" — When you research swaps, the numbers and conditions vary from broker to broker, making it difficult to make a decision. Moreover,most articles don't specify when those figures were recorded. Swaps change daily, so figures without a clear point in time are useless for comparison.
This articledirectly reviewed the official websites, FAQs, and terms of service of 14 overseas forex brokers on September 17, 2026, and compiled information on actual swap values with acquisition dates, as well as the conditions for swap-free trading, including excluded instruments and alternative fees. Furthermore,why both buying and selling can result in negative swaps, how to distinguish between points, pips, and currency-denominated amounts, and how much capital is needed to earn a certain amount per month.
Supervisor of this article
CFP® Certified Financial Planner
Michiko Iida
After working at a financial institution, she obtained the Level 1 Financial Planning Specialist certification from the NPO Japan Financial Planners Association . She is also a Certified Financial Planner (CFP) and holds a Type 2 Securities Sales Representative qualification from the Japan Securities Dealers Association (JSDA) . Currently, she is engaged in various consulting services, seminar lecturing, and writing activities. She is also actively involved in writing for overseas media for Japanese expatriates and conducting seminars on life after returning to Japan. She also provides support for overseas relocation, specializing in consultations and financial/insurance information for those relocating to Canada and South Korea.
Conclusion | Key Points Regarding Swaps in Overseas Forex Trading (as of September 2026)
- Swaps are not determined solely by interest rate differentials. The broker's funding costs are added on top.BigBossofficiallyBigBoss states that
- When you add up the buy and sell orders, it almost always results in a loss . There wasn't a single combination of acquiring 6 stocks from 4 companies on the same day that resulted in a profit . All 23 combinations of brokers and stocks resulted in losses. For USDZAR, both buy and sell orders were negative for both brokers, meaning you'd pay swap fees regardless of the direction you held it.
- The units vary from broker to broker, and some brokers don't specify them. Points, pips, and currency-denominated transactions are mixed, andAXIORYandIS6FXdon't even specify the units. Points are one-tenth of pips (TitanFX official: "1 pip = 10 points").
- Six out of 14 companies offer swap-free trading. However, it's not truly "free."FXGT$10 management fee for yen pairs starting two days after the initial trading periodcharges aeffectively excluding high-interest currencies. Furthermore,you won't receive positive swap points, making it unsuitable for those who want to profit from swaps.
- The triple swap day isn't always Wednesday.AXIORY's stock CFDs and TitanFX's Energy swaps are on Fridays,Axi's swap days are individually specified for each currency pair (Wednesday or Thursday), andIS6FXcredits them all at once at midnight on Saturday.
- Only 4 out of 14 companies publish figures on their official websites. More than half of them do not allow you to check the swap fees you will be paying unless you have an account.
- To receive approximately $62.50 per month in USD/JPY, assuming a reversal of approximately $0.06, you would need approximately $1,938. To receive approximately $1,250 per month, you would need approximately $38,750. Moreover, it is not uncommon for exchange rate losses to exceed swap gains.
- With overseas forex brokers, you cannot withdraw only unsettled swaps(this is possible with all four domestic brokers). While taxation is generally based on settlement,corporate accounts are the opposite; unsettled gains and lossesare also subject to
*This article was created by the MoneyCharger editorial team in accordance with their content creation policy . The swap values and swap-free conditions for each company were verified on September 17, 2026, using the original text (including English versions) of the official websites, official FAQs, and terms of service (the acquisition time and source URL are clearly indicated in the table in the text). Swap points fluctuate daily, so the figures listed are as of the time of acquisition . Please be sure to check the actual conditions with your own account and the latest information displayed by each company. The tax-related statements are for general informational purposes only; please consult a tax accountant or your local tax office for individual decisions. Overseas FX brokers are not registered with the Japanese Financial Services Agency, and the Financial Services Agency and the Consumer Affairs Agency have issued warnings about trading with unregistered brokers.
If you are new to overseas forex trading,our complete guide for overseas forex trading beginners.
What are swap points? | They are not determined solely by interest rate differences
Swap points are adjustment fees incurred when a position is carried over to the next day. They are based on the interest rate difference between two currencies; you receive them if you buy the currency with the higher interest rate and sell the currency with the lower interest rate, and you pay them if you do the opposite.
However,the actual amount is not determined solely by the interest rate difference. Because the brokers add the cost of borrowing to cover their positions, it will not match the theoretical value calculated from the interest rate difference. This is somethingthe brokers themselves officially state. We will discuss this in more detail in the sectionon why both buying and selling can result in losses.
Three common misconceptions
| Commonly seen explanations | actual |
|---|---|
| Swaps are determined by the difference in policy interest rates between the two countries. | The supplier's procurement costs are added on top.BigBossofficially states that it is "interbank interest rate + funding costs." TitanFX writes that for precious metals and energy it is "determined by holding costs, etc." |
| Swap triple day isWednesday | It varies by product category .AXIORY's stock CFDs are paid out on Fridays, and TitanFX's energy and CFDs are also paid outIS6FXuses a system where payments are made all at once at midnight on Saturday, and it's not even a Wednesday triple bonus. on Fridays. Axispecifies whether each currency pair is paid out on Wednesday or Thursday . |
| No swaps are applied on Saturdays and Sundays | While this is true for FX, some brokersBigBossthree times a day, andIS6FXoffers them four times a day, and there are no triple bonus days. offer bonuses for cryptocurrency CFDs even on weekends . offers bonuses |
All ofthis information was confirmed on each company's official website. Applying general explanations directly to your own account may result in unexpected outcomes.
Those who want to make money through swaps and those who don't want to pay are complete opposites
There are two types of people who research swaps, each with completely opposite objectives.Failing to distinguish between these two types will lead to choosing the wrong broker.
| the purpose | Things to see |
|---|---|
| I want to earn money by receiving swaps | The size of the positive swap and whether that level will continue.Swap-free accounts cannot be used(because the amount received will also be zero). |
| I don't want to pay negative swaps | Swap-freeeligible instruments, days, and alternative fees. Effective if you don't need to receive a positive return. |
The numbers you need to look at will change completely depending on which you are looking for.Please decide which you are looking for first before continuing to read.
Why do both buying and selling result in losses? | Examining the markup of the brokers
If you add up the buy and sell amounts for the same currency pair, it will almost always be negative.When I obtained and checked the official swap tables of four companies on the same day,all 23 combinations of brokers and currency pairs were negative,and there wasn't a single combination that was positive. The understanding that "because it's an interest rate difference, the amount you receive from buying and the amount you pay from selling should balance out" does not match the actual figures.
| Brand | BigBoss (Points) | XMTrading (Points) | XMTrading (USD/1 lot) | AXIORY (Unit not specified) | IS6FX (Units not specified) |
|---|---|---|---|---|---|
| USD/JPY | -17.51 | -27.49 | -17.64 | -9.79 | -24.16 |
| EURUSD | -5.14 | -6.44 | -6.44 | -3.50 | -9.85 |
| XAUUSD (Gold) | -11.44 | -66.20 | -66.20 | -55.79 | -53.77 |
| USDTRY | -3,804.90 | -5,363 | -110.20 | -2,896.47 | Not available |
| USDMXN | -420.72 | -279 | -16.26 | -163.15 | -368.08 |
| USDZAR | -38.43 | -36.39 | -22.37 | -92.07 | -203.24 |
IS6FXOnly two transactions on 's Pro Zero account, USDJPY and EURUSD, showed zero swap, because both buy and sell swaps were set to zero. All others were negative.
The reason is "interest rate difference + procurement costs for the businesses."
Swaps are not determined solely by the difference in policy interest rates between the two countries.The brokers also add their own funding costs to cover their positions. This isn't speculation;the brokers themselves have officially stated this.
BigBoss's SWAP points are calculated using a unique hybrid method that takes into account interbank market interest rates and funding costs in cover transactions
BigBoss swap value = Interbank interest rate + Funding cost
Source:BigBoss official "Swap Points"(verified September 17, 2026)
TitanFX also states that for some products, the price is determined by holding costs rather than interest rate differences
The swap rates for energy and precious metals CFDs are determined by factors such as the holding costs of the relevant assets
Source:TitanFX Official "Swap Rates"(Verified September 17, 2026)
MyfxMarketsof swap transactions in the interbank market states that it is the " market price ," clearly indicating that itAxithat it may incorporate long holidays such as the Lunar New Year and Golden Week into its calculations. is not the policy interest rate differential itself . states The explanation that "swap = difference in policy interest rates" is not accurate in practice.
However,BigBossalso states that they do not take the bonus amount uniformly
Therefore, atBigBoss, we strive to reduce procurement costs by offering more attractive positive swap rates to customers on the side of a tilted, smaller position, and by providing a trading environment with a wide range of options
Source:BigBoss official "Swap Points"(verified September 17, 2026)
In other words,brokers are manipulating swaps to adjust the imbalance in their own positions. A sudden increase in positive swaps for a particular currency pair doesn't necessarily mean that interest rates have changed.
Buying high-interest currencies doesn't necessarily mean you'll receive a bonus
Swap rates for high-interest currencies often showed a significant negative for buy orders and a positive for sell orders . This trend was observed for USDTRY, USDMXN, and USDZAR. This might seem counterintuitive, as selling the Turkish lira against the dollar, or buying USDTRY , would be selling high-interest currencies
Furthermore, with USDZAR, there were brokers where both buying and selling prices were negative.
| Contractor | Buy USDZAR | Selling USDZAR |
|---|---|---|
| BigBoss | -30.80 | -7.63 |
| IS6FX | -202.64 | -0.60 |
pay swap fees no matter which way you hold it. The assumption that "you'll get paid either way if it's a high-interest currency" is not true. Moreover,this varies from broker to broker. Even with the same USD/ZAR, some brokers will give you a profit when selling, while others will not.
Swaps cannot be offset even with hedging
If the sum of your buy and sell positions is negative, thenif you hold both long and short positions (buy and sell) of the same stock with the same lot size, that negative amount will be deducted every day. Even ignoring the spread, this will still be a cost.
USDTRY, in particular , showed a strikingly large negative return. Contrary to the image that high-interest currencies are easy to profit from , they are actually the most costly instruments when you combine buying and selling . If you are considering a strategy using hedging, be sure to check the terms and conditions of each overseas forex broker regarding hedging . Some brokers explicitly prohibit hedging using swap-free accounts in their terms and conditions .
Units and Yen Conversion | Understanding Points, Pips, and Currency-Based Conversions
Swap values vary in units depending on the broker.The same "10" might be expressed as points by one broker and US dollars by another.Comparing figures between brokers without checking the units can result in a complete change in ranking. Furthermore, some brokers don't even specify their units.
| Contractor | Official unit notation | remarks |
|---|---|---|
| BigBoss | SwapPoints | The page displays the last edit time and clearly states that it will be updated every 10 minutes |
| XMTrading | You can switch between points and monetary value (USD per lot) | Switching modes eliminates the need for conversion. Date of data is displayed |
| TitanFX | Points (1 pip = 10 points)are clearly stated. | It also states, "MT4/5 will automatically convert to the account's base currency." |
| AXIORY | No notation | Only numbers are listed, without units |
| IS6FX | No notation | Same as above |
| MyfxMarkets | Not available on the official website | "Market price of swap transactions in the interbank market," explained |
Only three companies clearly indicated their units.AXIORYandIS6FXonly listed numerical values. The values from these two companiescannot be directly compared with those of other companies. They should only be used to compare buy and sell prices within the same broker.
Points and pips are 10 times different
Points are one-tenth of pips.TitanFX officially states that "swap rates are displayed in points (1 pip = 10 points)." Therefore,a swap of "25 points"is 2.5 pips. Some older explanatory articles confuse these two, resulting in amounts that are off by 10 times.
| term | meaning |
|---|---|
| point | The minimum price fluctuation range. For USD/JPY, it'sapproximately $0.00, and for EUR/USD,$0.00001. |
| pips | 10 times the points. For USD/JPY,approximately $0.00 (1 sen), and for EUR/USD,0.0001 dollars. |
Convert to price per lot
When converting points to monetary value,how much 1 point is worthfor each currency pair. For 1 lot (100,000 units of currency), it is as follows:
| Brand | Contract size per lot | 1 point | Amount per point (per lot) |
|---|---|---|---|
| USD/JPY | 100,000 Charge | approx. $0.00 | approx. $0.63 |
| EURUSD | 100,000 EUR | 0.00001 USD | 1 US dollar |
| XAUUSD (Gold) | 100 ounces | 0.01 USD | 1 US dollar |
For example,BigBoss's buy swap for USDJPYwas 10.78 points (acquired on September 17, 2026, at 16:31). For 1 lot, this10.78 x approx. $0.63 = approximately $6.74. For 0.1 lot, it would be one-tenth of that. This conversioncan be verified by XMTrading's display. The company publishes both points and monetary amounts, andfor buying USDJPY, it is 2.11 points = 1.36 US dollars (approx. $1.32). The relationship of 1 point = approx. $0.63 can be directly confirmed. However, this premise may not apply to brokers that do not publish the definition of units.
Daily amount = Number of swap points × Amount per point × Number of lots
For instruments based on dollars or euros, there's an additional step of converting them to yen.Since 1 point in EURUSD is equivalent to 1 US dollar, you need to multiply by the exchange rate to get the yen equivalent. Because the result will vary depending on the rate used,please check which rate was used for the "yen conversion" figures in other companies' articles.
like XMTrading, which allow you to switch between point and monetary displays, there's no need for conversion and no errors. When I actually obtained USD/JPY from the same company using both displays, the points display showed a buy price of 2.11 and a sell price of -29.6, while the monetary display showed a buy price of 1.36 USD and a sell price of -19.0 USD.These are not the same numbers. If you pick up the numbers without paying attention to the units, this difference will directly lead to errors.
Swap comparison of major brokers [with acquisition date]
We acquired swap rates for 6 securities from 14 companies on the same day.We were able to confirm the figures on the official websites of 4 companies. The following are the actual values, withthe acquisition time for each broker listed in minutes. Since swap rates change daily, figures without a specific time point are not useful for comparison.
The conditions for this comparison
- Target: 14 overseas forex brokers. Of these, we have listed 4 companies for which we were able to verify the figures on their official websites.
- currency pairsare: USDJPY, EURUSD, XAUUSD, USDTRY, USDMXN, and USDZAR.
- Acquisition Date and Time: September 17, 2026, 16:31-17:24 (Japan Standard Time). The time for each vendor is listed in the table.
- Source of data: Only swap tables from each company's official website were used. No data from third-party websites was used.
- Units|We have published the information using the units displayed by the official source, and have not performed any conversions ourselves. Due to the difference in units, cross-company comparisons are not possible.
| Contractor | Brand name (trader's symbol name) | Buy | Sell | unit | Acquisition time |
|---|---|---|---|---|---|
| BigBoss | USD/JPY | 10.78 | -28.29 | point | 16:31 |
| EURUSD | -7.28 | 2.14 | point | 16:31 | |
| XAUUSD (GOLD_USD) | -30.58 | 19.14 | point | 16:31 | |
| USDTRY | -4,536.11 | 731.21 | point | 16:31 | |
| USDMXN | -467.61 | 46.89 | point | 16:31 | |
| USDZAR | -30.80 | -7.63 | point | 16:31 | |
| XMTrading | USD/JPY | 2.11 | -29.60 | point | 16:37 |
| EURUSD | -7.87 | 1.43 | point | 16:37 | |
| XAUUSD (GOLD) | -84.80 | 18.60 | point | 17:18 | |
| USDTRY | -6,666 | 1,303 | point | 16:37 | |
| USDMXN | -333 | 54.0 | point | 16:37 | |
| USDZAR | -41.0 | 4.61 | point | 16:37 | |
| AXIORY | USD/JPY | 4.16 | -13.95 | Units not specified | 17:22 |
| EURUSD | -6.40 | 2.90 | Units not specified | 17:22 | |
| XAUUSD | -70.38 | 14.59 | Units not specified | 17:24 | |
| USDTRY | -4,502.80 | 1,606.33 | Units not specified | 17:22 | |
| USDMXN | -195.92 | 32.78 | Units not specified | 17:22 | |
| USDZAR | -173.65 | 81.58 | Units not specified | 17:22 | |
| IS6FX | USD/JPY | -0.19 | -23.97 | Units not specified | 16:49 |
| EURUSD | -9.52 | -0.33 | Units not specified | 16:49 | |
| XAUUSD | -74.86 | 21.09 | Units not specified | 16:49 | |
| USDTRY | Not available(all 61 pairs checked) | ||||
| USDMXN | -352.42 | -15.66 | Units not specified | 16:49 | |
| USDZAR | -202.64 | -0.60 | Units not specified | 16:49 | |
Since XMTrading allows switching to a monetary display , I switched to the monetary display at 16:46 on the same day and obtained the values in US dollars (precious metals at 17:19). USDJPY was 1.36 USD to buy and -19.0 USD to sell, and USDTRY was -137 USD to buy and 26.8 USD to sell. You can see that these are completely different from the figures displayed in points
Most companies do not release official figures
Of the 14 companies,we were only able to verify the data for four of them on their official websites.MyfxMarkets,Axi,ThreeTrader, and MiltonMarkets do not publish the data on their official websites, instead directing users to check it on MT4 or MT5. For the remaining six companies (TitanFX,XS,HFM,FXGT,Exness, andVantage),we were unable to retrieve the data using our editorial team's methods(because the tables are dynamically drawn or access is restricted). Of these,Exnessactually required login, and we were unable to view the content from Japan.
TitanFX publishes a swap point calendar , but it's presented in a format where you select one instrument, currency, and month at a time, rather than allowing for easy comparison at a glance. This method of publication itself can be a factor in deciding which broker to choose.
Even though it's the same gold, the symbol name is different
One common pitfall when comparing different options is the difference in the product names . Gold was offered under three different names by three different companies. To choose between the gold options themselves, I compared them using overseas forex gold (XAUUSD), including the spreads
| Contractor | Gold symbol name |
|---|---|
| BigBoss | GOLD_USD |
| XMTrading | GOLD |
| AXIORYIS6FX | XAUUSD |
XMTradingoffers separate pairs with different quoted currencies, such as XAUJPY, and the swap values are completely different. Don't assume they're the same just because the names are similar. Also,IS6FXdoes not handle USDTRY(checked all 61 pairs).Some brokers don't even offer this pair at all.
Cross-comparison of swap-free options | Conditions, eligible securities, exclusions, and alternative fees
Out of 14 companies we investigated, only 6 offered swap-free trading.However,"swap-free" doesn't mean "zero cost." Many have limitations on the number of days the swap is applicable, and some brokers charge a fee after that period. Somebrokers also exclude high-interest currencies, which ironically means that currency pairs targeted for swap trading don't benefit from it.
| Contractor | offer | Target account | How to apply | Source (verified September 17, 2026) |
|---|---|---|---|---|
 XS | can be | All live accounts except demo accounts (cannot be turned ON/OFF on an account-by-account basis) | Automatic application | Official "Swap-Free Account" |
 HFM | can be | Cent/Zero/Pro/Premium/KATANA+ Copy accounts.Deposit bonus-only accounts are not eligible. | Automatic application(no application required) | Official Blog |
 FXGT | can be | A separate account type called a swap-free (Islamic) account. | Application required(via email or ticket on the member page) | Official "Swap-Free Account" |
 AXIORY | can be | There are five account types in total(Nano/Standard/Terra/Max/Alpha). However,the Alpha account is only for physical stocks and ETFs, while the other four accounts are for FX, stock index CFDs, energy CFDs, and precious metals CFDs. | Application required(via email).Accounts will be closed before the procedure is completed. | Official FAQ (Japanese) |
 XMTrading | KIWAMI only | Standard, Micro, and Zero accounts are excluded (check the individual pages for each of the four accounts). *The official statement says it applies to "specific securities, " not all securities . We were unable to confirm the publication of a list of eligible securities. | Open the relevant account | Official "KIWAMI Extreme Account" |
 Axi | Yes (Japan may be excluded) | Standard/Pro/Elite (as of 2020) | Application required (regulations as of 2020) | Official "Islamic Account".The Japanese version is 404. |
 BigBoss | Not officially stated | — | — | Check the swap explanation, FAQ, and account type list. There are 0 entries for "swap-free" |
 ThreeTrader | Not officially stated | — | — | I checked all 355 questions in the official FAQ. No matching questions were found |
 IS6FX | None(officially denied) | — | — | Official FAQ: "Please note that because Islamic Republics are among the countries where we do not provide our services, we cannot open swap-free accounts in those countries." |
 TitanFX | None(officially denied) | — | — | Official statement: "Swaps apply to allTitan FXreal accounts." |
 MyfxMarkets | Not officially stated | — | — | Check swap rates, account types, FAQs, and terms and conditions. (No information provided.) |
 MiltonMarkets | None(The terms and conditions clearly state that charges will be applied to all accounts.) | — | — | Article 11of the Terms of Service explicitly stipulates the occurrence of swap charges. There are no exemption clauses. |
 Exness | Not confirmed from Japan | — | — | The official website is requesting login and the content is not displayed |
 Vantage | I was unable to find any information specifically for the Japanese market | — | — | Japanese URLs are redirected to general explanatory articles in English |
* "None" refers to the three companies (IS6FX, TitanFX, MiltonMarkets) where we confirmed an official denial or a clear statement that charges apply to all accounts . "Not officially stated" refers to the three companies (BigBoss,ThreeTrader,MyfxMarkets) where neither a denial nor a clear statement of charges could be found . "Unable to confirm" refers to the two companies where official information could not be accessed from Japan. These are distinguished accordingly. Not being able to confirm does not mean that they "do not offer" the service .
The swap conditions for each company are explained on the individual pages for AXIORY , FXGT , HFM , ThreeTrader , and Exness , for each specific instrument
The following table lists the six companies that provided the service, arranged according to the same criteria. Items that could not be obtained are not left blank, but are written as "Not Obtained"
| Contractor | Target stocks | Excluded stocks | Application period | Instead, the fee | Conditions for cancellation/termination |
|---|---|---|---|---|---|
| XS | Major FX traders / Gold and silver / Crude oil / Stock indices / Cryptocurrencies | Stock CFDs(no grace period = accrues from the first day).Exotic currencies are not listed in the official grace period table and are unconfirmed. | Grace period varies by stock (1 to 10 days) | None(clearly stated as no spread surcharge or additional fees) | Not acquired |
| HFM | 50 target stocks | Deposit bonus-only accounts are not eligible, even for the specified stocks | For general customers,the offer is for a limited time only;for Muslim accounts, it is unlimited. A table showing the number of days for each individual stock isnot yet available. | For stocks with extremely large swap rates,an additional fee(amount not disclosed) will be | Not acquired |
| FXGT | Major FX / Minor FX / Metals / Energy / Stock Index | FX exotics(high-interest currencies) andstockswill be subject to swaps from the 1st onwards,effectively making them exempt. | By category.Yen pairs are 2 days, others are 7 days. | Yen pairs from the 2nd onwards: 10 USD/ Major FX from the 7th onwards: 3 USD / Minor FX: 5 USD / Metals: 7 USD / Energy and stock indices: 5 USD | If misused, the status may be revoked |
| AXIORY | Alpha Account = Spot Stocks and ETFs / Other Accounts = FX, Stock Index CFDs, Energy CFDs, Precious Metals CFDs | Stock CFDs / Battle CFDs(Note: There are discrepancies in the information provided on two pages of the company's FAQ.) | No time limit specified | Not specified | Existing accounts will be closed before the procedure is completed. All additional accounts added thereafter will automatically become swap-free. |
| XMTrading (KIWAMI only) | Not yet acquired(The official statement only says "Applicable to specific stocks") | Not acquired | Not acquired | Not acquired | Not acquired |
| Axi | FX Major, FX Minor, and Precious Metals only (.swffiles) | Stock indices, energy, cryptocurrencies, and stock CFDs | Free for 4 days / Charges apply from 5 consecutive days of holding | Management fee: Maximum $50 per lot per day | Application and approval system (Trading Notice issued) |
"Unlimited" is an exception; in most cases, the number of days is determined for each individual brand
Only a limited number of swap-free options are available indefinitely.Most have a grace period, such as "up to X days from entry," after which swaps accrue as usual. Furthermore,the number of days varies depending on the instrument.XSis a typical example.
| Brand | Grace period |
|---|---|
| EURUSD, GBPUSD | 10 days |
| XAUUSD (Gold) | 5 days |
| USDJPY・AUDUSD・NZDUSD・USDCAD・USDCHF | 2 days |
| XAUEUR・XAGUSD・Crude oil | 2 days |
| Stock price indices (JP225, US30, US100, US500) | 1 day |
The USD/JPY pair is 2 days, and stock indices are 1 day. It's more realistic to assume that trades held overnight for more than a few days will not be eligible for swap-free trading.HFM, with a limited time limit for general customers also officially states thatAxi's swap-free trading is only available for Muslim accounts . As of 2020, regulations stipulated a 4-day period (management fees apply from 5 consecutive days of holding).
Please noteXSpage contains discrepancies regarding the grace period for cryptocurrencies, stating "3 days" in the main text and "2 days" in the table on the same page(this is the same in both the Japanese and English versions). Since we cannot determine which is correct, please contact support if you intend to use cryptocurrency.
Even with swap-free trading, fees apply | For yen pairs, it's $10 every two days
Some brokers charge a management fee instead of swaps.FXGTofficially states the amount for each instrument category, andthe swaps are generated quickly and the amount is high only for the yen pair, which is the most frequently used by Japanese players.
| Brand | Until a fee is incurred | Management fee |
|---|---|---|
| FX Major | From the 7th onwards | 3 USD |
| JPY pairs (JPY FX Majors, JPY FX Minors) | From the 2nd onwards | 10 USD |
| FX Minor | From the 7th onwards | 5 USD |
| metal | From the 7th onwards | 7 USD |
| Energy and stock market indices | From the 7th onwards | 5 USD |
| FX Exotic | — | The swap will apply from the 1st onwards (effectively exempt) |
| stock | — | The swap will apply from the 1st onwards (effectively exempt) |
Other companies have a similar structure.HFMalso states that for securities with extremely large swaps, an additional fee will be charged if held for a certain period of time or longer(the amount is not disclosed).AxiInan official document from 2020stipulated in its fee schedule that a management fee of up to $50 per lot per day would be charged if the target symbol was held for five consecutive days. However,that document is no longer publicly available, and the current page states that there are "no hidden fees,"so it is not possible to confirm whether the same conditions still apply.
The longer you hold a position, the higher the fees can end up being compared to the swap fees.Be sure to check both "how many days it's free" and "how much it will cost after that."
High-interest currencies may be excluded
This is the most important point to note.The currency pairs you want to use for swap profits are often excluded from swap-free trading.
| Contractor | Stocks that are excluded |
|---|---|
| FXGT | Swaps apply to FX exotics (which include high-interest currencies such as the Turkish lira, Mexican peso, and South African rand) and stocks from the 1st of the month onwards |
| Axi | Only currencies and precious metals are covered. Stock indices, energy, cryptocurrencies, and stocks are all excluded (official regulations as of 2020.This information is not currently listed on the page and has not been verified). |
| XS | Stocks are excluded(no grace period = swaps begin from day one).Exotic currencies (Turkish lira, Mexican peso, etc.) are not listed in the official grace period table, so it is unconfirmed whether they are included. |
| AXIORY | Stock CFDs and Battle CFDs. *The official FAQ has conflicting information on two pages, one of which states "Stock CFDs only." |
Choosing a broker simply because it says "swap-free" can lead to situations where the specific securities you want to use are excluded . Check by securities category, not by broker name
You will no longer receive positive swaps
It's often overlooked, butswap-free is a system that not only prevents you from paying but also from receiving.XS's official page states this:
Traders neither pay nor receive interest on overnight positions
Source:XSOfficial "Swap-Free Account"(Verified September 17, 2026)
In other words, the strategy of buying high-interest currencies and receiving swaps is not viable with a swap-free account. Swap-free accounts are suitable for "people who want to avoid negative swaps," not "people who want to profit from swaps."These two are diametrically opposed requirements.
If you only look at the Japanese page, you might misinterpret the conditions
In this investigation,that three companieshad discrepancies between the terms and conditions on their Japanese and English versions. If you only compare the Japanese pages, you will be mistaken about these three companies.
| Contractor | Japanese version | English version |
|---|---|---|
| AXIORY | It is clearly stated that the submission of "documents proving Muslim status" is mandatory. | it is not limited to Muslims, but can be opened from anywhere in the world(no geographical restrictions). |
| XS | Without mentioning the country of residence requirement,it simply states, "Automatically applied to all live accounts." | The system is automated for 19 Islamic countries, while for other countries, it requires inquiry and is limited to certain customers. |
| Axi | Page does not exist (404) | It is available. However,there is no alternative page in Japanese, so it is highly likely that Japan is not included in the service area. |
Furthermore,AXIORY's Japanese FAQ states:"Accounts used before the Islamic account procedure will be closed" and"All additional accounts after the Islamic account procedure will automatically become swap-free accounts."It is not possible to switch while keeping existing accounts, nor is it possible to use them in conjunction with regular accounts. This information is not found in the English version.
If deemed an abuse, the exempted amount will be claimed retroactively
Swap-free accounts are subject to cancellation conditions.XSif abuse is suspected reserves the right to retroactively claim waived swaps and cancel accumulated profits . The following two actions are listed as prohibited:
- Internal hedging| Hedging using multiple accounts with the same broker
- External hedging| Hedging between accounts at other companies
In short , using swap-free accounts for swap arbitrage is clearly prohibited.FXGTalso states that it may revoke swap-free status if it is misused. Since the handling of hedging differs from broker to broker, we compare the terms and conditions of each company in the section on hedging in overseas forex . The handling of the method of targeting price differences between brokers is explained in the section on arbitrage in overseas forex
Steps to check the latest swap rates yourself and how to determine if they are stable
Swap rates change daily, so you cannot simply use the rankings and figures in articles.This applies to currency pairs that are not often compared, such as the Canadian dollar, as well as the USD/JPY and gold. You need to check them yourself before trading. However,a few brokers publish swap tables on their official websites, and after investigating 14 companies, we found the following differences.
| classification | Number of companies | Contractor |
|---|---|---|
| I was able to check the figures on the official website | 4 companies | BigBoss・XMTrading・AXIORY・IS6FX |
| It is not publicly available on the official website(it explicitly states to view it using MT4/MT5). | 4 companies | MyfxMarkets・Axi・ThreeTrader・MiltonMarkets |
| It is publicly available but could not be retrieved this time, or the table is dynamic and cannot be retrieved | 6 companies | TitanFX・XS・HFM・FXGT・Exness・Vantage |
In other words, with more than half of the brokers, you can't check the swap fees you'll be paying unless you have an account with them. This structure forces you to rely on figures from comparison websites.
Check using MT4 or MT5
The most reliable way to check is through your own account's platform.The figures published by your broker may differ from those applicable to your specific account type.
- Open "Stock Names" from "View" in the top menu.
- Select the stock you want to check and click "Specifications"
- Check the "buy swap" and "sell swap" sections. Also, check the days of the week for the "3-day swap."
At this time, be sure to check the units . The meaning of the same number can be completely different depending on whether it is displayed in points or currency. As explained in the section on units and yen conversion , the display varies depending on the vendor
Swap triple day is not necessarily "Wednesday"
Many articles state that Wednesday is the most common day, but in reality, it varies depending on the product category.The results of checking the official information of 14 companies are as follows:
| Contractor | FX currency pairs | Precious metals | Energy | Stock indices and stock CFDs | Cryptocurrency |
|---|---|---|---|---|---|
| BigBoss | Wednesday | Wednesday | Wednesday | Wednesday | No triple points days(points are awarded 3 times a day, including weekends) |
| AXIORY | Wednesday | Wednesday | Wednesday | Stock CFDs and Battle CFDs only: Friday 0:00 AM/ Stock Index CFDs: Wednesday | Not specified |
| TitanFX | Wednesday | Wednesday | Friday | Friday | Not specified |
| Axi | Wednesday or Thursday (varies depending on the currency pair) | Wednesday | Friday | Friday | Friday |
| IS6FX | The bonus for Saturday and Sunday is awarded at midnight on Saturday(not triple on Wednesday). | Same left | Same left | Same left | No triple points days(4 times a day) |
| MyfxMarkets | Wednesday → Thursday | No classification is specified (applies to all products) | No classification is specified (applies to all products) | No classification is specified (applies to all products) | No classification is specified (applies to all products) |
Axi is particularly noteworthy . Their official product list includes a column called "3 Day Financing," where each currency pair is individually designated as either Wednesday or Thursday ( most are Wednesday, with only a few Thursday ). This means that even within the same broker, the triple-margin days differ depending on the instrument
IS6FXit awards the weekend's earnings all at once at midnight on Saturday, so it's not a Wednesday triple-pointsystem. Also, several cryptocurrency brokers don't have triple-point days;BigBossthree times a day, andIS6FXawards four times a day, and these paymentsalso apply on weekends. The explanation that "no swaps are paid on weekends" does not apply to cryptocurrencies.
Look at "how stable" rather than "how much it is now."
If you're looking to profit from swaps in the medium to long term,what's more important than the high value on a particular day is whether that level will continue.A broker that was ranked number one on a comparison site might have changed its terms the following week.
There are three key points to consider when assessing stability
- Record and compare the same stock for several days to several weeks. You cannot make a judgment based on a single value.
- CheckBigBossdisplays the last update time on its official page and clearly states that it updates every 10 minutes. if the vendor publishes their update frequency .
- Does the broker explain how they determine swap rates? Brokers who state they add a surcharge on funding costs should be viewed with the understanding that factors other than interest rates also play a role.
It's worth noting that even websites that publish data often fail to specify the reference date and time . Among the articles our editorial team compared, some claimed to be "automatically updated daily" but didn't indicate the reference time, while others displayed "updated daily" but were actually two months old. When viewing data, always confirm the date on which the value was recorded.
Is it possible to live off swap points? | Calculating the funds needed for approximately $62.50 per month
Whether you can live off swap earnings alone can be easily determined by calculating the necessary funds.Here, we'll use the actual swap values obtained to work backward from the target amount.
To receive approximately $62.50 per month in USD/JPY
BigBoss's buy swap for USD/JPY10.78 points(as of 16:31 on September 17, 2026). Since 1 point is approximately $0.63 for 1 lot,approximately $6.74 per day.
- Daily target amount= approx. $62.50 ÷ 30 days = approx. $2.08
- Required lot size= approx. $2.08 ÷ approx. $6.74 = approximately 0.31 lots(31,000 units of currency)
- Required margin(1 USD approx. $0.94, leverage 500x) = approx. $0.94 × 31,000 units ÷ 500 = approx. $58.13
The margin alone is just under $62.50.However, it's not possible to trade with this amount of capital.A reversal of approximately $0.01 would result in an unrealized loss of approximately $193.75, and with a margin of approximately $58.13, a stop-loss would have been triggered long ago.
Realistically, what you need is capital that can withstand price fluctuations. To hold out even if the dollar-yen rate falls by approximately $0.06, you need to withstand an unrealized loss of approximately $1,938 (31,000 units x approximately $0.06) . In other words, if you are aiming for a monthly swap of approximately $62.50, you need at least approximately $1,875 in capital .
| Monthly target amount | Required lot size | A guideline for the amount of capital needed to withstand a reversal of approximately $0.06 |
|---|---|---|
| approx. $62.50 | Approximately 0.31 lots | Approximately $1,938 |
| approx. $187.50 | Approximately 0.93 lots | Approximately $5,813 |
| approx. $625.00 | Approximately 3.1 lots | Approximately $19,375 |
| Approximately $1,250 (part of living expenses) | Approximately 6.2 lots | Approximately $38,750 |
Even with a monthly income of approximately $1,250, you would need about $38,750, and if you need about $2,500 per month to cover all your living expenses, you would need about $77,500. Moreover, this calculation assumes thatswap rates do not fall and exchange rates do not fluctuate significantly. In reality, both scenarios can occur.
The direction in which it is received tends to be opposite to the long-term trend
Those who receive swaps in high-interest currencies tend to align with the direction in which that currency continues to depreciate . High interest rates are due to the currency's tendency to lose value, and it is not uncommon for exchange rate losses to outweigh the swap gains .
This survey also shows that selling USDTRY (i.e., buying Turkish Lira) yields positive swap points, whileUSDTRY has been steadily rising in the long term, meaning the Turkish Lira has been steadily falling. This results in a situation whereyou receive swap points while your unrealized losses are increasing.
Furthermoreas mentioned earlier, there are some assets, like USDZAR,both buying and selling are negative. The premise that "you'll get something for either buying or selling a high-interest currency" doesn't always hold true.
Concerns differ depending on the currency | A look at policy interest rates
The reason high-interest rate currencies have large swaps is because those countries have high policy interest rates. And high policy interest rates often mean that there are costs involved in maintaining the value of the currency, such as the need to curb inflation . In other words, the size of the swap and the risk of currency depreciation stem from the same cause . Before choosing a currency, look at the levels published by each country's central bank.
| currency | Policy interest rate (at a given time) | source | Observations made in this survey |
|---|---|---|---|
| Turkish Lira (TRY) | 37.00% (After January 23, 2026) | Turkish Central Bank 1-week repo rate | USDTRY had the largest combined loss in buy and sell transactions(BigBoss -3,804.90 points / XMTrading -5,363 points).It was the instrument with the highest combined cost when buying |
| Mexican Peso (MXN) | 6.50% (The price was kept unchanged by the decision made on August 6, 2026.) | Bank of Mexico Monetary Policy Decision | The USDMXNtotal was negative for all four companies for which values were available(-16.26 to -420.72 / in each company's unit). |
| South African Rand (ZAR) | 7.00% (As of September 17, 2026) | South African Reserve Bank Current Market Interest Rate | for USDZARBigBossandIS6FXBoth, regardless of the direction you hold it. |
You can see that the Turkish lira is on a completely different level . An interest rate of 37% means that the interest rate is set on the premise that the currency's value will fall by that much . If you choose a currency because you are attracted by the large swap rate, the possibility of it being canceled out by exchange rate losses increases accordingly.
*Policy interest rates are subject to change. The above figures were confirmed on September 17, 2026, on the respective central bank's publication page.Always check the latest published figures at the time of trading. In addition, there are other high-interest currencies besides the three listed here, and their handling varies depending on the broker.
Four things to keep in mind in practice
Once you've provided the necessary funds, the following four points will be beneficial during the investment period:
- Calculate the lot size backward from your target amount, and then determine the price range you can tolerate beforehand. If you decide on the lot size first and then consider your funds, you'll likely find you don't have enough.
- Avoid concentrating on a single currency pair. High-interest rate currencies tend to plummet and move in the same direction on the same day.
- Check which day of the week is the triple-point day for your chosen currency pair.As mentioned earlier,it's not always Wednesday, and it varies depending on the broker and currency pair.
- Regularly record the swap level. Judge it based on whether it's a consistent level, not just the value for a single day.
Furthermore , lowering transaction costs will increase the amount of swap money you receive . While the impact of spreads is small in long-term holdings due to fewer transactions, costs are incurred each time you adjust your position. A comparison of spreads is available in the section on overseas forex spreads
Differences from domestic FX | The statement "domestic FX is unified" is not accurate
When comparing swap rates between overseas and domestic forex brokers,you often see explanations like, "Domestic brokers are easier to understand because their units and 3x swap days are standardized." However, after researching five domestic brokers, I found this to be inaccurate.The real difference lies elsewhere.
| item | GMO Click Securities | DMM FX | Minna no FX | Gaitame.com | Rakuten Securities |
|---|---|---|---|---|---|
| unit | Yen | Yen | Yen | Yen | Yen |
| Standard quantity | 10,000 currencies (some 100,000) | Regular/Large: 10,000 / Mini: 1,000 | 1 Lot = 10,000 units of currency | 10 Lots (= 10,000 units of currency) | ÷10,000 |
| Timing of granting | New York Clothes | Business hours changeover (6am in summer, 7am in winter) | At the end of maintenance | Each time there is a rollover | At the end of each business day |
| Triple points day | Actual data indicates Wednesday (no explicit mention) | Thursday (explicitly stated) | Unconfirmed | Holdings from Wednesday to Thursday cover 3 days | Unconfirmed |
| Receiving unsettled swaps | Yes(automatically added to cash balance) | Possible | Yes(received during transit) | Yes(up to bank transfers within the account) | Unconfirmed |
| Swap-free | none | none | none | none | none |
| Data published on the official website | can be | can be | can be | can be | can be |
Even within the same country, the standard quantity can differ
While all companies use yen as their currency, the "amount per unit of currency" varies from company to company.Some companies use a per-10,000 unit of currency, while others express it as 10,000 units of currency for 10 lots.
Furthermore,DMM FX is divided into different categories within the same company. Regular and Large lots are 10,000 currency units, while Mini lots are 1,000 currency units. Moreover, the company states the following:
Swap points incurred on mini currency pairs may not be the same as those on regular currency pairs
Source: DMM FX Official (verified September 17, 2026)
inability to compare numerical values without checking the unitsis the same as with overseas forex trading. The only difference is that overseas forex trading involves a mix of points, pips, and currency-denominated transactions, andsome brokers don't even specify the units.
Triple points days are not "Wednesdays in Japan"
DMM FX explicitly states Thursday.GMO Click Securities' actual calendar shows Wednesday, but no explicit mention was found. Gaitame.com states that "the amount carried over from Wednesday to Thursday is equivalent to 3 days' worth."
Thisa difference in whether the days are counted by the day the transaction was made or the day the points were awarded; essentially, they are the same thing, just expressed in different words. However,that from the reader's perspective, the days of the week appear to differ from company to company. In overseas forex trading,the days of the week are divided by product category, andAxi, the designated days differ depending on the currency pair.
The real difference lies in the "amount of disclosure" and the "presence or absence of swap-free conditions."
After investigating, the following three points clearly showed the differences between overseas and domestic forex trading
| Comparison items | Domestic FX | Overseas FX |
|---|---|---|
| Disclosure of figures | All five companies have published this information on their official websites. They also disclose the number of days' worth of benefits each day. | Only 4 out of 14 companies have made this public. More than half cannot be viewed without having an account. |
| Units should be clearly indicated | All companies explicitly state that transactions are in yen (standard quantities vary by company) | Only three companies specify the units.AXIORYIS6FXIS6FXdoes not specify them |
| Receiving unsettled swaps | It's possible with all four companies I checked. You can receive it while still holding your position. | It's not possible. The balance only becomes your account balance after the payment is made. |
| Swap-free | None of the five companies offer it | Six out of 14 companies offer thisservice (conditions vary greatly from company to company). |
In other words, it's not that "domestic is easy to understand, while overseas is disorganized," but rather that "domestic information is disclosed, while overseas information is scarce,"which is a more accurate description of the situation. Swap-free options are only available with overseas forex brokers andeffective for those who want to avoid negative swaps.
Whether or not you can receive unsettled swaps also depends on the timing of taxation . More details will be covered in the notes section . Differences in general systems such as leverage and margin calls are summarized in the section on differences between overseas and domestic FX
Points to note | Fluctuations, withdrawals, and taxes
The reasons for losing money on swaps are not so much the numbers themselves, but rather three things: "they change daily," "you don't receive the money until you settle the transaction," and "the timing of taxation."
Even if you're ahead the day before, you'll be behind the next day
Swap rates are reviewed daily. Because they reflectBigBossdisplays the last update time on its official page and clearly states that it updates every 10 minutes. not only each country's policy interest rates but also the borrowing costs of the brokers , the values change even if interest rates haven't moved.
A position that was in the positive just a few days ago can suddenly turn negative.If you're holding it long-term, be sure to check your account regularly.
In overseas forex trading, you cannot withdraw only the swap points first
Swaps earned on open positions will not be added to your account balance until the position is closed.This is because they are treated as part of unrealized gains or losses. Even if you have accumulated swaps, you cannot withdraw that amount.
Thisa clear difference from domestic FX. In Japan, all four companies I checked allow you to receive your earnings while your positions are still open. GMO Click Securities automatically transfers the earnings to your cash balance, and Minna no FX allows you to receive them midway through the transaction.If you are considering using swaps from overseas FX to cover living expenses, plan accordingly, assuming that you cannot cash out until you close your positions.
Taxes | The timing of taxation differs between individuals and corporations
This is a frequently misunderstood area, and one that is rarely covered in explanatory articles.I will explain it by separating what is confirmed, what varies from company to company, and what should be confirmed with an expert.
Confirmed!
- In domestic FX trading, profits and losses from settlements are subject to separate taxation. Article 41-14 of the Special Taxation Measures Act stipulates that "when settlements are made...", and National Tax Agency Notice No. 1521 uses the same wording. The general understanding, derived from the explanations of various companies and the wording of No. 1521, is that unsettled positions are not taxed , but the article itself does not specify when income should be recognized.
- Overseas forex trading is considered miscellaneous income subject to comprehensive taxation. The National Tax Agency's separate taxation system (No. 1521) is limited to "over-the-counter derivative transactions (limited to transactions with a 'Type 1 Financial Instruments Business Operator' or a 'Registered Financial Institution')," and transactions with overseas brokers not registered with the Japanese Financial Services Agency are not included.
- ★The treatment is reversed for individuals and corporations. Article 61-5 of the Corporation Tax Law stipulates that unsettled derivative transactions are to be included in taxable income or expenses " as if they were settled ." In corporate accounts, unsettled unrealized gains and losses are also subject to taxation at the end of the fiscal year.
It varies from company to company
It's not that the tax rules are different, but ratherthat each company has a different design for when to finalize swaps. Eventhe explanations themselves vary within domestic FX brokers.
| company | Official description |
|---|---|
| DMM FX | It is clearly stated that "open positions are not subject to tax" and "unreceived swap points are not subject to tax for that year." |
| Gaitame.com | "The transferred amount isconsidered final profitand is subject to separate taxation." |
| Rakuten Securities | Based on the delivery date(Since delivery is on the next business day after the date of occurrence, the year to which the transaction belongs may shift if it spans across years). |
| GMO Click Securities - Minna no FX | There is no mention of when unsettled swaps are subject to taxation |
Things to check with an expert
In overseas forex trading, there is no single, definitive way to handle situations where positions remain open but are reflected in the balance.This is because Income Tax Basic Circular 36-14 only states "the date determined in accordance with the nature of the income," and does not specify a concrete date.
Furthermore, as Gaitame.com states, the explanations provided by each company are "merely our understanding," and do not guarantee that they align with the views of the tax authorities.If the amount is large or you are using a corporate account, please consult with a tax accountant.
*This section provides general information based on laws, regulations, and company announcements as of September 17, 2026. For individual tax filing decisions, please consult a tax accountant or your local tax office. A complete overview of overseas forex taxation is available in the Overseas Forex Tax Complete Guide
Frequently Asked Questions about Swap Points in Overseas Forex Trading
Which FX broker offers the highest swap points?
It varies depending on the instrument, so there's no single company that can do itfor you. Also, the units used for displaying the data differ from broker to broker, so you can't simply compare the numbers side by side. On September 17, 2026BigBoss, XMTrading,AXIORY, andIS6FX, I obtained official tables fromBigBossbut onlyAXIORYandIS6FXdid not. TitanFX, for which I couldn't obtain the data, specified "points (1 pip = 10 points)."If you want to compare, make sure that the units are the same and narrow it down to the instruments you trade.Swap rates change daily, so there's no guarantee that the top-ranked company on one day will continue to do so.
Where can I check the swap points for overseas forex trading?
Only 4 out of 14 companies (BigBoss, XMTrading,AXIORY,IS6FX)MyfxMarkets,Axi,ThreeTrader, and MiltonMarkets do not publish this information and instruct users to check it on MT4 or MT5. We were unable to retrieve the data for the remaining 6 companies using our editorial team's methods (because the tables are dynamically drawn or access is restricted). Of these,Exnessactually required login, and we were unable to check the content from Japan. The most reliable publish this information on their official websites . method is to open "View" > "Instruments" in your MT4/MT5 account and look at the "Specifications" for the relevant instrument . The values may differ depending on the account type.
Which overseas forex brokers offer swap-free trading?
Out of 14 companies we investigated, we were able to confirm thatsix:XS,HFM,FXGT,AXIORY, XMTrading (KIWAMI account only), andAxi. However,the application methods differ.HFMandXSoffer automatic application without application, whileFXGTandAXIORYrequire an application. XMTrading only offers it for the KIWAMI account; Standard, Micro, and Zero accounts are not included. However, the official statement says it "applies to specific instruments," so not all instruments may be included even within the KIWAMI account.Axidoes not have a Japanese version of its Islamic account page, so we were unable to confirm whether Japan is a target region.
If it's swap-free, are there no fees at all?
Some brokers charge fees. FXGTofficially sets management fees for each instrument category, with a fee of $10 USD for yen pairs after 2 days , and $3-7 USD for others after 7 days.HFMalso states that for instruments with extremely large swaps, an additional fee will be charged if held for a certain period of time (the amount is not disclosed). Furthermore, youXSthat it "neither pays nor receives interest," which is will no longer receive positive swaps.XS.com incompatible with strategies that involve buying high-interest currencies and receiving swaps .
Can you live off swap points alone?
Calculations will show you the necessary funds. As of September 17, 2026,BigBoss's buy swap for USD/JPY was 10.78 points, which was approximately $6.74 per day for 1 lot. At this level, you would need approximately $62.50 per month for about 0.31 lots, and approximately $1,938 to withstand a reversal of approximately $0.06 . If the monthly rate is approximately $1,250, you would need approximately $38,750 . Moreover, this is based on the assumption that the swap level does not fall and the exchange rate does not move significantly. The direction in which you receive tends to be against the long-term trend, and it is not uncommon for exchange rate losses to exceed swap gains.
What day of the week is the triple swap day?
It's not always Wednesday. It varies by product category.AXIORY's stock CFDs and Battle CFDs are Friday at midnight, and TitanFX's energy and CFDs are also Friday.Axiindividually whether each currency pair is Wednesday or ThursdayspecifyingIS6FXuses a system where the bonus for Saturday and Sunday is credited all at once at midnight on Saturday, so it's not a Wednesday triple bonus day at all.Some cryptocurrency brokers don't have triple bonus days,BigBossthree times a day, andIS6FXcredits four times a day, including weekends.
Can I withdraw only the unsettled swap points?
This is not possible with overseas forex trading.Swaps earned on open positions are treated as part of unrealized profits and losses, and only become part of your account balance after the position is closed.This is a clear difference from domestic forex trading.In Japan, all four companies I checked allow you to receive swaps while holding positions, GMO Click Securities automatically transfers them to your cash balance, and Minna no FX allows you to receive them midway through the transaction. If you are considering using swaps from overseas forex trading to cover living expenses,plan accordingly, assuming that you cannot cash them out until the position is closed.
Are swap points from overseas forex trading taxable?
Yes, it is.Overseas forex trading is considered miscellaneous income subject to comprehensive taxation. The National Tax Agency's separate taxation system, No. 1521, is limited to "transactions with a 'Type 1 Financial Instruments Business Operator' or a 'Registered Financial Institution' as the counterparty," and overseas brokers not registered with the Japanese Financial Services Agency are not included. In principle, taxation occurswhen the transaction is settled and the profit or loss is realized. However,for brokers whose systems reflect unsettled positions in the balance, the interpretation may differ, so please consult with a tax accountant. Note thatfor corporate accounts, the situation is the opposite of individuals; Article 61-5 of the Corporate Tax Law stipulates that unsettled derivative transactions are "deemed settled" and included in profits and losses, so unsettledunrealized profits and lossesare also subject to taxation at the end of the fiscal year. If the amount is large or if you are using a corporate account, please consult with a tax accountant.
Summary | Look at the conditions and time period rather than just the numerical values
After researching 14 companies in one day, Irealized that you can't choose a swap provider based on "which one offers the highest rates."The units differ from provider to provider, the conditions change daily, and more than half don't even publish the figures on their official websites.What you should compare is not the highest figures or their ranking in recommendation lists, but whether the conditions suit your needs and when those figures were recorded.
After you finish reading, check these four things
- Check the swap rates for the instruments you trade in the "Specifications" section of MT4/MT5. Also, check whether the unit is points or currency.
- Check the day of the week when the stock has a triple-point bonus. It's not always Wednesday, and it varies depending on the broker and currency pair.
- If you're using swap-free services, check these three things: eligible currencies, how many days the swap-free period lasts, and what the alternative fees are. Some brokers exclude high-interest currencies.
- Calculate the necessary funds by working backward from the target amount. Even with a monthly return of approximately $62.50, assuming you can withstand price fluctuations, the minimum is around $1,875.
Another important point to keep in mind is that"wanting to earn money through swaps" and "not wanting to pay negative swaps" are diametrically opposed demands. Decide which one you want before choosing a broker.
Swap points refer to the interest rate difference between different currencies, which occur daily. The advantage is that if you choose a currency pair with a high interest rate, you can earn that amount of profit. However, swap points vary from broker to broker. Also, high-interest currencies always have potential drawbacks. Don't assume everything is fine just by buying! You should consider what those drawbacks are and what the future trends are before choosing a currency pair
Finally,while swap-based trading involves holding positions for longer periods, resulting in lower per-trade costs, costs are incurred each time the positions are rearranged.Using cashback reduces the effective cost because a portion of the spread is returned with each trade.However, this offer is only valid for accounts opened through the designated link; existing accounts cannot be registered later.
Check the account opening procedure to lower transaction costs and increase your swap earnings, and qualify for cashback
