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September Swap Rates (Singapore) Assessment: Comparison of EUR/USD, GBP/USD, and XAUUSD
In the foreign exchange market, investors are not only focused on the potential benefits derived from price fluctuations of trading currency pairs but also need to be cognizant of the costs associated with these transactions. One crucial cost that often goes unnoticed is the swap rate, which can significantly impact profitability, especially when holding positions overnight.
Overview of Swap Rates
This article examines the average swap spreads charged by 26 brokers for three major trading pairs—EUR/USD, GBP/USD, and XAU/USD—from September 1 to September 30. Understanding these rates can help traders make informed decisions and choose brokers that align with their trading strategies.
Summary of Avg Swap Spread for EUR/USD, GBP/USD, and XAUUSD
Platforms with Relatively Low Fees (Ranked 1-3):
- XM
- Doo Prime
- DLSM
Platforms with Relatively High Fees (Ranked 24-26):
- FPG
- FxPro
- WeTrade
| Ranking | Broker | EURUSD | GBPUSD | XAUUSD |
| 1 | XM | 0 | 0 | 0 |
| 2 | Doo Prime | 0 | 0 | -7.92 |
| 3 | DLSM | -2.27 | -3.07 | -4.63 |
| 4 | MHMarkets | -2.25 | -2.62 | -13.7 |
| 5 | AUS Global | -0.92 | -1.16 | -15.94 |
| 6 | IC Markets | -3.69 | -2.36 | -12.06 |
| 7 | GO Markets | -2.72 | -3.35 | -14.25 |
| 8 | CWG MARKETS | -4.55 | -2.15 | -13.29 |
| 9 | Tickmill | -3.08 | -3.19 | -11.93 |
| 10 | DBG Markets | -3.83 | -3.46 | -13.1 |
| 11 | EightCap | -4.62 | -5.03 | -7.5 |
| 12 | Anzo Capital | -3.62 | -3.61 | -13.72 |
| 13 | FP Markets | -4.33 | -2.66 | -20.09 |
| 14 | TMGM | -3.62 | -3.61 | -13.72 |
| 15 | ACY Securities | -5.19 | -4.26 | -12.06 |
| 16 | EBC Financial Group | -3.91 | -4.14 | -17.16 |
| 17 | Windsor Brokers | -5.6 | -5.35 | -14.59 |
| 18 | Pepperstone | -4.4 | -5.34 | -17.91 |
| 19 | Decode Global | -5.21 | -6.25 | -14.7 |
| 20 | ThinkMarkets | -5.06 | -3.54 | -28.36 |
| 21 | EC Markets | -5.39 | -3.46 | -25.31 |
| 22 | FXTM | -4.49 | -6.24 | -22.69 |
| 23 | Alpari International | -4.49 | -6.24 | -22.69 |
| 24 | FPG | -7.21 | -8.26 | -14.67 |
| 25 | FxPro | -6.02 | -7.08 | -29.57 |
| 26 | WeTrade | -7.66 | -8.26 | -20.7 |
Detailed Analysis of Swap Rates by
EUR/USD Swap Rates
For the EUR/USD pair, the average swap spreads for September were as follows:
Platforms with Relatively Low Fees:
- XM
- Doo Prime
- AUS Global
Platforms with Relatively High Fees:
- FxPro
- FPG
- WeTrade
GBP/USD Swap Rates
In examining the GBP/USD pair, the average swap spreads indicated similar trends:
Platforms with Relatively Low Fees:
- XM
- Doo Prime
- AUS Global
Platforms with Relatively High Fees:
- FxPro
- FPG
- WeTrade
XAU/USD Swap Rates
Lastly, the XAU/USD pair revealed the following average swap spreads:
Platforms with Relatively Low Fees:
- XM
- DLSM
- EightCap
Platforms with Relatively High Fees:
- EC Markets
- ThinkMarkets
- FxPro
Conclusion
Understanding swap rates is essential for forex traders, particularly for those who hold positions overnight. By analyzing the average swap spreads across different brokers, traders can identify the most cost-effective options. As evidenced by the data for September, platforms like XM and Doo Prime consistently offer lower fees, while brokers like FxPro and WeTrade tend to have higher costs.
Investors should incorporate these insights into their trading strategies to enhance profitability and make informed broker selections.
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Disclaimer:
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