Best Online Trading Company for Swing Traders

Best Online Trading Company for Swing Traders

Swing trading is another popular trading strategy after day trading. This strategy offers more flexibility to beginners who consider trading as a passive income generator, and offers a safe haven for advanced traders who see potential in holding for more than a few days. Both beginners and advanced traders would need to find the best online trading company for swing trading.

This is because swing trading has a few unique requirements that day trading does not have: 

Low spread

Trading fees in spreads must be small enough to make significant profit, especially if the trend goes heavily against the trader. Many people believe that spread commissions will not affect their profit over the long run with swing trading. However, it’s still important to pick an account with low spread because even swing traders are not safe against unexpected reversals.

Better technical tools

Swing trading is not prone to news reactions. With swing trading, you can dampen the short-term noise of market liquidity and remain true to your technical analysis. You will however need to justify your technical analysis with the fundamental ones for a safer speculation. 

Low or no overnight fees (swap)

Holding overnight will require a fee simply because forex trading always involves borrowing money to hold a position, and interest is paid or received on a 24-hour basis across the world. A swap-free option is not only beneficial for those whose faith does not allow receiving or paying interest (such as those with Islamic beliefs). It is also potentially advantageous to swing traders.

You may find that the FBS online trading platform may suit your swing trading needs.

FBS accounts are mostly low-spread accounts

In this article, we’ll be covering the features of just the standard account. FBS does offer two mini accounts that allow trading in 0.01 lots and even a cent lot, for Micro and Cent accounts respectively.

However, to be succinct, we shall take a look at the standard account since many professional and intermediate traders move relatively quickly after gaining confidence with the mini accounts.

The spread of the standard account is floating, starting 0.5 pips. Many accounts set the spread very closely relative to the market, which means it would be possible to have a spread of 6 pips in some minor currency pairs.

Swap-free options are also available for the standard account, although you will need to contact customer support to learn more on how to do this, since the swap-free option is not the default in all the accounts that FBS offers.

Finally, FBS is an acknowledged, licensed international online forex trading company. They are present in 190+ countries, have more than 370 000 partners, and more than 14 million active traders. It has a healthy community of professionals who share their speculations, tips and guides in many forums. There are hundreds of content that they provide to help beginners learn about technical and fundamental analysis.

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