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Get Paid to Wait on Currencies As the Dollar Sinks!

Sean Hyman (June 1, 2009)

Friday, May 29, 2009

By Sean Hyman I know I’ve always told you that “all Forex brokers are not the same” and here’s one more instance where this is true.

You see all Forex dealers offer you rollover interest on your Forex trades. This means that if you hold your currency trades over night, your Forex dealer pays you interest on that individual trades.

However, not all Forex dealers pay the same amount of interest… (even though they are dealing with the same countries that have the same interest rates).

Why? Larger, well- capitalized firms tend to be the “most honest” in this area when it comes to calculating rollover interest. Reason: They tend to operate under stricter regulations so they have to stay honest.

The Large, Highly Regulated Firms Got that Way for a Reason!

Larger firms became that way because they give their account holders what they want – tight regulation that operates under the strictest guidelines.

The big FX dealers realize that if you want to get big money AND keep big money at your firm, you have to go down the honest and upright road.

While the capitalization, regulation and fills you are more important than your rollover interest, the extra interest is nice too. And if you set up shop with the right firms, you can get higher rollover interest on every trade you place.

A little bit of difference can add a huge amount of interest to your account over long periods of time. So get all you can.

How can you tell who dishes out and how much? Download their demos and you’ll see something that looks like this below.

Get a Demo and Do Your Own Snooping Around

Each one will have a different set up, but most will have a place where you can find out what their rollover is. If not, chat with them and ask them.

You will find that there is a wide difference between brokers, especially between the one that pays out the most and the one that pays out the least. So do your homework ahead of time.

Years ago, when I first started out in this market, I didn’t know all of this…and I don’t know of anyone “on the inside” that’s dying to tell you either. So, just a word to the wise, go for the brokers that are well capitalized, well regulated AND pay out good rollover interest. It’s worth your time.

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