Broker swap increase

Hey everyone,

I have been using Axi as a broker for a while now and I noticed in the last month that the swap rates have dramatically increased. Is this with every broker or just Axi?

Usually, swap calculation refers to central ban interest, if swap increasing maybe you need to check on the central bank on the currency you traded, if there is no change interest rate, maybe increasing swap fee is manipulation broker, if your broker offers free swap account, you can choose to use it, like as in FXOpen they also offer free swap account for Muslim trader.

Run two brokers alongside each other and place the same trades on each to see which has the highest swaps/commission/spreads. It's a good way to find the cheapest broker.

Any recommendation for an alternative broker?

If you're living in Australia, I would suggest Fusion Markets. I have been with them for a month or so and it's been pretty good so far. Their Zero account is most of the times close to zero spread, competitive commissions and swaps.

In the forex market, there is a fee called swap if you keep trading overnight. This is the interest you pay or receive depending on the pair.

If you put your position on Wednesday and keep it open on Thursday, your swaps will triple.