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But for example if you short the CAD agains MXN, you get 10 pips daily added to your account...
Hi guys
I trade a grid strategy and have many long and short positions open over long periods. Therefore SWAPS are a big factor to my profit.
When comparing brokers here:
https://www.myfxbook.com/en/forex-broker-swaps
Right now for GBPJPY I see this:
Ducas Short -0,44 Long 0,05
FX Open Short -0,66 Long -0,09
IC Markets Short -0,68 Long 0,07
LMAX LMAX -1,46 Long -0,50
Is there a simple rule of thumb to determine which broker is better or worse here? I mean, is it as simple as for each broker calculating the difference between the short and the long swap, and the broker that has the biggest difference is worst? While the broker with the smallest difference is the best?
If this is correct, then the rank would be the following from best to worst: 1. Dukas, 2. FX Open, 3. IC Markets, 4. LMAX.
Am I thinking correctly here, or am I completely lost?
(know that for the individual position, it depends on if you are long or short and on the actual swap rate, but I'm just looking in general which broker to choose going forward..)
I have learned the theory of SWAP rates in the past, but it's 10 years ago, and it took me weeks to understand. I am simply not that clever
So if someone could let me know if my simple rule of thumb above is more or less accurate when choosing broker, then I would be very grateful
I trade a grid strategy and have many long and short positions open over long periods. Therefore SWAPS are a big factor to my profit.
When comparing brokers here:
https://www.myfxbook.com/en/forex-broker-swaps
Right now for GBPJPY I see this:
Ducas Short -0,44 Long 0,05
FX Open Short -0,66 Long -0,09
IC Markets Short -0,68 Long 0,07
LMAX LMAX -1,46 Long -0,50
Is there a simple rule of thumb to determine which broker is better or worse here? I mean, is it as simple as for each broker calculating the difference between the short and the long swap, and the broker that has the biggest difference is worst? While the broker with the smallest difference is the best?
If this is correct, then the rank would be the following from best to worst: 1. Dukas, 2. FX Open, 3. IC Markets, 4. LMAX.
Am I thinking correctly here, or am I completely lost?
(know that for the individual position, it depends on if you are long or short and on the actual swap rate, but I'm just looking in general which broker to choose going forward..)
I have learned the theory of SWAP rates in the past, but it's 10 years ago, and it took me weeks to understand. I am simply not that clever
So if someone could let me know if my simple rule of thumb above is more or less accurate when choosing broker, then I would be very grateful 
