Spot Fx Rollovers

[thebard]

:?:

Hey

Are there any brokers apart from CAPITAL SPREADS - which have a completley unreliable platform - that rollover spot fx overnight without realising the profit/loss like IG INDEX and only charge the carry interest? Trie a lot of spread betting comps. and they all seem to take profit/ loss on spots rollvers?

Cheers

 

[shadowninja]

Alpari charge "swap". What's that mean?

 

[gc1]

I think they all close one position and open a new one. If you are talking about unfair rollover costs take a look at GFT, they seem to apply fair daily rollovers based only on the interest rate differences (instead of adding a 2% p.a. on the underlying position value like most SB companies).

 

[Rhody Trader]

Are there any brokers apart from CAPITAL SPREADS - which have a completley unreliable platform - that rollover spot fx overnight without realising the profit/loss like IG INDEX and only charge the carry interest? Trie a lot of spread betting comps. and they all seem to take profit/ loss on spots rollvers?

Oanda credits/debits your account for the interest carry each day or when you close the trade as they do continuous interest. They don't do the exit/re-enter rollover thing.

 

[gamma]

With Alpari you also earn interest on long positions
But you pay interest on short positions i.e Swap

 

[ns1000]

Have you thought of currency futures, either DMA or through a SB? Spreads are much wider for SB, but no rollovers and 24 hour trading.

 

[thebard]

thanks

Prefer SB -also sometimes do futures to hedge spot currency - guess just go with IG Index cos Capital Spreads platform is a peice of xxxx and let IG cash in (profit or) loss at 8pm and stay in market until postion reaches parity (I only ever roll spots when they are £ negative)

 

[Rhody Trader]

.. sometimes do futures to hedge spot currency ...

In what manner and why do you do this?