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NorthFinance also offers swap free account, but only for Muslim/Islam traders
NorthFinance also offers swap free account, but only for Muslim/Islam traders
Great for them! Since it has MT4 terminal for automatic trading, I should think about automatic hedging system with another MT4 broker (with positive interest)! Only thing that needs to make this system completely automated is the money transfer between brokers...
Mucho69,
Who do you have your non-interest and interest account with?
Do you wire $20K to the account when the account value reaches $20K?
How often you find yourself transferring funds?
What leverage are you using?
Do you have set to where you would get a margin call if one of the accounts were to go below $20K?
when one of the 50K accounts drops to 30K ill wire 20K into it, then the second account will have 70K and ill withdraw and keep the 20K on the sidelines, sometimes i do one transfer a month, sometimes three a month, my leverage is 100, and i have not had a margin call in 2 years, i have never closed my position since opening it , and i wont be promoting any interest free brokers.
NorthFinance also offers swap free account, but only for Muslim/Islam traders
Moneyforex offers Islamic (swap-free) accounts to all clients, no matter what their religion is. Only a small fee of 5$ per standard lot is charged daily for positions held overnight. GBPJPY zero-risk hedging can then still be profitable in this case.
MoneyForex - Islamic Swap Free Forex Trading Account
Does anyone know of any 'interest-free' broker that allows you to open both an interest-free and a normal account with them - or is this not allowed???
Also, I read somewhere of an 'end of month' roll-over of positions held in interest-free accounts - not the 'normal' daily roll-over - I presume this would incur a charge, anybody have info. on this?
Does anyone know of any 'interest-free' broker that allows you to open both an interest-free and a normal account with them - or is this not allowed??? Also, I read somewhere of an 'end of month' roll-over of positions held in interest-free accounts - not the 'normal' daily roll-over - I presume this would incur a charge, anybody have info. on this?
open 2 account at NF
one with interest, another with no interest
NF can make transfer between two account with different owner
open 2 account at NF
one with interest, another with no interest
NF can make transfer between two account with different owner
Oh, so it is permitted - or at least a 'work-around' can be found.
Thanks for the info.
when one of the 50K accounts drops to 30K ill wire 20K into it, then the second account will have 70K and ill withdraw and keep the 20K on the sidelines, sometimes i do one transfer a month, sometimes three a month, my leverage is 100, and i have not had a margin call in 2 years, i have never closed my position since opening it , and i wont be promoting any interest free brokers.
mucho69,
This is an AWESOME technique!
1. To be on the safe side, why don't you enter stops or limits to protect yourself in case you can't get to the computer?
2. Why don't you do this hedge on the GBP/JPY?
Thanks,
MIKAJA
mucho69,...
2. Why don't you do this hedge on the GBP/JPY?
Thanks,
MIKAJAmaybe 'cos it's nicknamed the "Ninja Beast"...