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Which broker offers highest swap rates? 34 replies

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Which broker offers highest swap rates?

  • Post #1
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  • First Post: Feb 7, 2008 6:32pm Feb 7, 2008 6:32pm
Sorry but is their any one still need to do the carry trade on gbp/jpy i hope so .

so is it possible in year 2008 if yes can you tell me which broker give the best rate .

thanks any way
Nothing is impossible :)
I think FXCM is one of the best.
Oanda offers the best rates, closely followed by InteractiveBrokers.
Thanks a lot guys , appreciated .

one other question is their any free swap rate brokers or may i say Islamic ones , is their any differences between the 2 or are all the same .

which one is the best to sell GBP /JPY with a tight spread and without any complaining from the brokers .
Nothing is impossible :)
ODL has high swap rates as well.
Quoting Trader KGB
Oanda offers the best rates, closely followed by InteractiveBrokers.
maybe i am wrong, but i looked at oanda's interest second by second rates for gbp/jpy longs and it was 2,19 for 24 hours of holding the trade. which is lower than many other brokers give for gbp/jpy longs.
Quoting vorschlag
maybe i am wrong, but i looked at oanda's interest second by second rates for gbp/jpy longs and it was 2,19 for 24 hours of holding the trade. which is lower than many other brokers give for gbp/jpy longs.
2,19 ??

CURRENCY BID ASK
GBP 4.8000 5.0000
JPY 0.2350 0.7850

Looks pretty good to me.
Quoting Trader KGB
2,19 ??

CURRENCY BID ASK
GBP 4.8000 5.0000
JPY 0.2350 0.7850

Looks pretty good to me.
not 2,19, i mixed up with 2,03. For 10 000 units GBP/JPY longs held for 24 hours earned interest is 2,03 $. that is 2,03 swap point for 1 day. For example if not mistaken odl's 2,5 swap point per day. many other brokers have better than 2,03 points. I could make a mistake in my calculations, if so correct me. their fx calculators are in the tools menu on the site.
Attached Image
"For 10 000 units GBP/JPY longs held for 24 hours earned interest is 2,03 $. that is 2,03 swap point for 1 day."

No - with a mini-lot position in gbp/jpy 1 pip is not worth $1 - that is only true for pairs with usd as base currency like eur/usd. With gbp/jpy you have to adjust for usd/jpy exchange rate. You should really read up on this most basic things before going ahead..
  • Post #10
  • Quote
  • Edited Sep 29, 2008 12:50am Sep 28, 2008 11:57pm | Edited Sep 29, 2008 12:50am
Quoting shrike
"For 10 000 units GBP/JPY longs held for 24 hours earned interest is 2,03 $. that is 2,03 swap point for 1 day."

No - with a mini-lot position in gbp/jpy 1 pip is not worth $1 - that is only true for pairs with usd as base currency like eur/usd. With gbp/jpy you have to adjust for usd/jpy exchange rate. You should really read up on this most basic things before going ahead..
Thank you for your reply, Shrike. I will try to
  • Post #11
  • Quote
  • Edited at 1:04am Sep 29, 2008 12:27am | Edited at 1:04am
my mistake is that i called 2,03 a swap point. it is not, it is just interest earned. thanks shrike for clarification.
You said "2.03 swap points per day" - whatever you mean by points, i assumed you meant pips, which it is not. Oanda pays 4.015% annualized for gbp/jpy longs (4.8% GBP bid - 0.785% JPY offer). Doesn't seem too bad too me. How much are the others paying you are talking about?
sorry shrike, you have read my unedited posts. finally i understood where I was wrong.
Quoting shrike
You said "2.03 swap points per day" - whatever you mean by points, i assumed you meant pips, which it is not. Oanda pays 4.015% annualized for gbp/jpy longs (4.8% GBP bid - 0.785% JPY offer). Doesn't seem too bad too me. How much are the others paying you are talking about?
I think he means 2.03 pips or points ( both mean the same) per day.
Which makes sense GBP int rates are higher than JPY and the swap calculation is worked on the interest rate differentials.
2,03 $ per day is an interest earned for a long position. If adjusted to usd/jpy rate it will look like 2,18 swap points.
  • Post #16
  • Quote
  • Edited at 2:35pm Sep 29, 2008 2:02am | Edited at 2:35pm
Quoting shrike
You said "2.03 swap points per day" - whatever you mean by points, i assumed you meant pips, which it is not. Oanda pays 4.015% annualized for gbp/jpy longs (4.8% GBP bid - 0.785% JPY offer). Doesn't seem too bad too me. How much are the others paying you are talking about?
I don't know how other brokers pay annualized for gbpjpy longs, I know others have rollover points which they add/deduct daily. and compared to O's daily payment for gbp/jpy for example odl's 2,5 swap points isn't worse.
below the screenshots of 1 day swap added for gbp/jpy at "other broker". their swap point is 2,51. Adjusted to the usd/jpy rate they added 2,41$ to the balance as you can see on the screenshot. and as I calculated earlier O adds 2,03$ interest earned per 24 hrs as you can see on the screenshot on the right.
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If you just wanna play swap over...go with high leverage exchanges like fxcm or ibfx
2.03 = 2 us dollars and 3 us cents
Quoting mmont
2.03 = 2 us dollars and 3 us cents
hmmm.... interesting
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