Best cTrader Broker For Swap-Free Trading for 2024 - TOP 5

Best cTrader Broker for swap-free trading: Investment Programs

Earning passive income is just as important for traders as earning profit by actively trading. Therefore, it is important to consider investment instruments offered by the company. There are different investment programs and their choice strongly depends on a specific broker. TU analysts have prepared a review of investment programs of the 5 best brokers.

1

FTMO - Investment Programs

Investment Programs, Available Markets and Products of the Broker

The FTMO offer is itself an investment program, the essence of which is as follows: each trader can get 400 thousand USD at his disposal, but before that, you need to go through two test steps. Before testing, there is an opportunity to practice on a demo account.

Invest in yourself | How to become a professional trader with almost no investment

The path to becoming an FTMO trader and earning real money consists of 2 steps:

• Evaluation stage. At this stage, the trader chooses the amount of the initial deposit from 10 thousand to 200 thousand US dollars. The test fee, respectively, will be €155 euros for a deposit of 10 thousand US dollars. The higher the deposit, the larger the fee. Requirements: target achieving a profit of 10% of the deposit, which must be received within a maximum of 30 days when trading at least 10 days. It is not necessary to trade all 30 days. Permissible losses are allowed up to 10% of the total deposit or up to 5% daily.

• Verification stage. At this stage, the trader is given up to 60 days to meet the requirements for the maximum daily and total drawdown, but the requirements for the target profit are reduced by 2 times. Conditions are simplified to work on more conservative strategies.

Testing is paid and depends on several factors such as the type of account chosen (regular trading or aggressive) and on the initial deposit amount. The fee is paid only once, so at the second stage, you do not need to pay. If the test is passed, the trader receives real money under management of about 400 thousand dollars. In case of a violation, the test must be re-taken. The number of "retakes" is not limited, but discounts are not provided.

FTMO’s affiliate program:

The FTMO affiliate program involves attracting traders who would like to unleash their potential, but do not have start-up capital. The company offers each affiliate 8% of the fee amount paid by the referral. Each affiliate receives a referral link and marketing materials.

2

FxPro - Investment Programs

Investment Programs, Available Markets and Products of the Broker

Currently, the broker does not offer own programs for passive investment. The situation may change in the future, but now, investors can use the copy trading service from MetaQuotes, the developer of MT4/MT5.

This is how it works:

• Register on the MQL5 website. It’s free of charge and takes up to 10 minutes.

• Download MT4 or MT5 on the broker’s website and install it. Open an account (from the broker’s user account or from the trading platform) and add it to the platform.

• In the “Platform” menu (МТ4) or the “Tools” menu (МТ5) select the “Signals” tab and follow the instructions.

To copy trades, link the trading platform to the MQL5 account. This can be done in the “Signals” tab or the “Service/Settings/Community” menu.

You can copy signals of one or several traders after reviewing their statistics in the platform. Subscription fee is fixed, the money is debited from the MQL5 account. You can unsubscribe from signals any time.

FxPro affiliate program

Any individual or entity can become an Introducing Partner. This program provides for rewards up to 55% of referrals’ income regardless of their turnover. The broker, on its part, provides complete marketing and technological support.

3

HFM - Investment Programs

Investment Programs, Available Markets and Products of the Broker

The HFM platform offers its clients options in investment trading to make trades on their own. Traders can also earn additional income by copying trades. It is also possible for HFM traders to invest in PAMM accounts.

Option for auto-copying deals

HFM’s service of automatic copying of trade operations allows providers of trading strategies to invite other traders to copy their trade strategies.

• To participate in this option, the minimum deposit is $500 for a strategy provider and $100 for a subscriber.

• Forex currency, bitcoin, and gold are among the available trading assets for automatic copy trading.

• The maximum leverage is 1:400, and the minimum trading volume is 0.01 lot.

• The number of traders from whom a subscriber can copy trades is unlimited. This allows copy traders an opportunity to form their own portfolio while also diversifying their overall risk.

• Copying speed takes a few milliseconds, which is beneficial for efficiency while also reducing risks and errors.

All of this provides traders — both suppliers and subscribers — the opportunity to ear profits using their preferred trading strategy.

Using PAMM as an investment program

Investing in a PAMM account allows traders to generate profits on the foreign exchange market without initiating your own trades. Furthermore, the program provides additional opportunities to generate earnings for professional traders who want to try their hand at becoming managers.

Features of the HFM PAMM system

• The minimum deposit is $250. This is a relatively small amount for PAMM accounts, which allows everyone to try this investment option;

• The maximum leverage is 1:300 and the spread starts from 0.3 pips;

• A wide assortment of trading instruments is available such as Forex, metals, oil, and various indices.

• Investors can invest in several PAMM accounts simultaneously, allowing investors to diversify their risk.

• Conveniently, traders who act as fund managers can manage multiple accounts simultaneously.

The Trader Union website provides trader ratings thereby enabling investors to be able to choose a manager that is optimal for the trader’s trading strategy.

HFM affiliate program

• Affiliate Partners and Introducing Brokers (IB) program is available to organizations and individuals around the world. It provides for making a profit in the form of a reward for attracting new customers to the broker. Under the terms of agreement, the company provides support by assigning a manager to each introduced broker. Also, the broker can assist in performing calculations, provide the necessary software, and guarantee a high level of service.

• Regional representative positions are available for trading professionals who help promote HFM at a regional level. These trading professionals will take on the responsibilities of managing an office in the region, while providing brokerage services on behalf of HFM.

• HFN’s White Label program is especially geared towards financial institutions and consulting firms. This program makes it possible to provide services under its own brand while enabling individual partnerships.

4

Tradeview - Investment Programs

Investment Programs, Available Markets and Products of the Broker

This broker provides you with trade copying services via its cTrader Copying app. Select the cTrader trading terminal, a signal provider, and subscribe to it to copy trades. The service will copy all trades to your account in auto mode. The cTrader Copy Trading program from Tradeview Markets offers the following features:

• Selection of a managing trader according to the trading strategy and risk level, performance, and the trading instruments with which the signal provider works.

• Overview of each trader’s trading history, control over open trades, the ability to close a trade if you don’t agree with the signal provider’s decision.

• Connect to any number of traders to copy trades.

• Risk management configuration – subscribers can independently set the budget for each strategy provider, limits for trades, etc.

The traders' profitability depends on the trading strategy employed and its risk level, and the trading instruments the signal provider employs. The cTrader copy trading platform doesn’t charge service fees, but fees may be charged as signal fees to signal providers. Any trader working with cTrader Copy can become a signal provider.

Tradeview’s affiliate program

• Introducing Broker (IB). Tradeview Markets provides software for brokers and management organizations that companies can use under their brand. Under IB, companies can offer clients 30 currency pairs, and a complete list of indices and commodities on Tradeview Markets is also available. Also, organizations get all the White Label program benefits. This affiliate program provides a rebate for introducing brokers in the amount of 50% of the commission amount.

• White Label. The company offers a White Label affiliate program for account managers, hedge funds, and other organizations. Companies and managers can take advantage of Tradeview Markets software and other products. Managers can create MAM accounts and use the Tradeview MarketsMT4 extension to connect an unlimited number of users. Submit a special application to become a White Label partner.

• Omnibus Partnership. This affiliate program is for its corporate clients and allows you to get full access to MetaTrader 4 software with technical support from Tradeview Markets specialists. The cost of connecting to the affiliate program is $5,000 (one-time payment). There is also a broker support fee of $1,000.

5

Traders Way - Investment Programs

Investment Programs, Available Markets, and Products of the Broker

Trader’s Way aims at working both with active traders and passive investors. The broker provides access to several social trading platforms. Using the cMirror application for the cTrader platform, the broker’s customers can mirror (copy) traders or become signal providers. Traders can also copy trades of other traders using MT4 Trading Signals, a social trading service built into MT4.

FxStat auto trading is an innovative copy trading platform

In addition to cMirror and Trading Signals, TradersWay.com customers can use FxStat auto trading platform. It provides investors with the possibility to create a diversified portfolio and fully control the account from any device. FxStat offers strategies only from the traders with live accounts and real money. Using the platform, investors can monitor the profitability of suppliers’ traders, analyze their signals and execute the signals in real-time in their accounts.

• The investor can manage risks independently: users can set auto trading with a fixed volume or a certain ratio.

• The auto trading service also features an economic calendar, news, email notifications on each event, including each opened and closed order. Daily, weekly, and monthly trading reports on each account are available.

• Signal subscribers fully control their trading accounts and receive data streams on open positions in real-time.

• An investor can create a portfolio of the most effective currencies, copy an unlimited number of traders, and trade with one click.

Trader’s Way provides several advanced social trading platforms. All of the broker’s customers can use the copy trading services for passive income. Investors with little trading experience and a desire to trade without regular market analysis can earn profit by copying trades of successful traders. Likewise, experienced traders with successful strategies can earn profit by providing their own trading signals to investors.

TradersWay affiliate program

• Agent - the bonus for trading on MT4.ECN, MT5.ECN accounts is 25% of the brokerage commission of the involved trader; on МТ4.VAR it’s 0.3 pips (for currency pairs) and 0.004% (for other trading instruments);

• Introducing Broker (IB) - individual conditions of partnership and professional support from specialists of the partnership department;

• White Label - work on one’s own brand with the use of the latest technologies and the business model of Trader’s Way.

Trader’s Way partners can earn passive income for attracting new customers. The bonus is a part of the broker’s commission, which the referrals pay the company for rendering Forex services.

What Is A Forex Swap Free Account?

A Forex swap-free account, also known as an Islamic account, adheres to Islamic religious principles by neither charging nor earning interest on trades.

How Does A Forex No-Swap Account Work?

In a standard Forex account, traders often hold positions overnight, which involves the exchange of one currency for another. When this happens, there is typically a swap charge (or interest) applied, as the positions are subject to the difference in interest rates between the two currencies being traded. This charge is either paid or earned by the trader.

In a no-swap account, these interest charges are eliminated, and instead, the account may involve other fees or charges to compensate for the absence of swap charges. Some swap-free brokers may widen the spreads or charge a commission to cover the costs associated with offering swap-free accounts.

It's important to note that Islamic accounts are not exclusively for Muslim traders. Non-Muslim traders who wish to avoid swap charges for other reasons can also opt for a swap-free account.

Why Are Islamic Accounts Swap Free?

Islamic accounts are swap-free to comply with the principles of Islamic finance, which are guided by Sharia law. Sharia law is the legal framework derived from the religious precepts of Islam. It governs various aspects of life, including economic and financial activities.

One of the key principles of Islamic finance is the prohibition of riba. Riba is the interest charged on loans or deposits. Riba is considered unjust and exploitative because it lead to wealth accumulation by the lenders at the expense of the borrowers.

In a standard Forex trading account, when a trader holds a position overnight, they either earn or pay a swap charge (interest). This practice is in direct conflict with the prohibition of riba in Islamic finance.

To accommodate the needs of Muslim traders who want to participate in Forex trading without violating their religious beliefs, some brokers offer swap-free or Islamic accounts.

Are Forex Halal Or Haram?

The acceptability of Forex trading from an Islamic perspective is a topic of debate. The main reason being it depends on the trading approach. The main concerns revolve around the concepts of riba (interest), gharar (excessive uncertainty), and speculation.

Riba (interest)

As mentioned earlier, Islamic finance prohibits charging or receiving of interest. In standard Forex accounts, traders holding positions overnight may earn or pay swap charges (interest), which goes against this principle. However, swap-free or Islamic accounts address this issue.

Gharar (excessive uncertainty)

Some scholars argue that Forex trading involves a high degree of uncertainty due to the rapid fluctuations in currency values, making it haram (forbidden). However, others argue that not all forms of uncertainty are prohibited. Since currency exchange is a necessity in global trade, Forex trading can be considered halal (permissible) if conducted without excessive speculation.

Speculation

Forex trading can involve a high degree of speculation. Some scholars argue that this speculative aspect makes Forex trading akin to gambling, which Islam prohibits. However, others contend that if traders approach Forex trading with proper analysis, risk management, and avoid excessive speculation, it can be considered halal.

How to Choose a Swap-Free Account?

It can be challenging to choose the right swap free forex broker due to the many options available. Consider the factors below to choose the right swap-free account for your forex trading needs.

1. Broker's reputation and regulation

Research the broker's background, customer reviews, and check whether they hold licenses from reputable regulatory authorities like the FCA, ASIC, CySEC, or others.

2. Additional fees or charges

Swap-free accounts may have alternative fee structures to compensate for the absence of swap charges. Brokers may widen spreads or charge a commission on trades. Analyze and compare the fee structure among various brokers to determine which one offers the most cost-effective option.

3. Customer support

A broker with a dedicated support team for swap-free account users will be better equipped to address your concerns and provide guidance on maintaining Sharia compliance.

4. Demo Accounts

A demo account allows you to practice before going live. Find a swap-free broker with a functional demo account to learn the basics before you finally invest your real money.

5. Trading platform and tools

Evaluate the broker's trading platform and tools to ensure they are user-friendly. They should provide essential features like charting, technical analysis, and risk management. A reliable platform, such as MetaTrader 4 or 5, is preferred by many traders.