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

Best Futures Trading 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

FBS - Investment Programs

Investment Programs, Available Markets and Products of the Broker

FBS is the right company for those traders who prefer to trade manually and use expert advisors. However, the broker does not offer passive investment options other than trading robots. The company does not provide for the possibility of investing in PAMM accounts or automatic copying of trading operations of experienced traders. 

However, the lack of investment programs is more than offset by the abundance of trading instruments. Thus, FBS clients can trade currency pairs, including exotic currencies, trade indices, metals, and CFDs. In addition, the brokerage company offers quite lucrative affiliate programs. With their help, traders, as well as SEO specialists and influencers can easily generate additional income. There is also a program for novice businessmen.

FBS’s affiliate program

• Cooperation. This is a classic affiliate program that provides a reward for each attracted client. The amount of income from the affiliate program depends on the amount that the attracted client has deposited. There is also an option to receive a percentage of trades. FBS provides partners with convenient tools, including traffic analysis and promotional materials.

• CPA. This program is suitable for bloggers, SEO specialists, and marketers. By placing the broker's banners and advertising on its website page on a social network or YouTube channel, the affiliate earns income. Profit, as in the previous case, depends on the amount of the attracted client's deposit. FBS provides the affiliate with marketing tools for promotion and also allows consulting with a personal manager.

• Introducing Broker (IB). In this case, the affiliate opens a branch of the brokerage company and manages the business processes. The amount of income depends on individual conditions. The broker provides developmental support.

The terms of affiliate programs offered by the brokerage company allow you to choose the best option and form your own referral system, from which you can provide yourself a stable income.

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

Admirals - Investment Programs

Investment Programs, Available Markets and Products of the Broker

The broker offers two copy trading services as passive investment options: a proprietary copy trading platform and copy trading from the MQL5.Community. Both services have their own individual benefits.

Important! The Copy Trading service is available only to clients of Admiral Markets Cyprus Ltd.

Admirals social trading service

Admirals offers a proprietary social trading platform you can use to earn money by automatically copying trades of other Admirals’ clients. This is how it works:

• You register and complete verification with the broker. After verification, you can open an account with a minimum allowable deposit.

• In the Copy Trading section of the user account you will find a list of traders with trading statistics for each of them, including profitability for the period, risk level, maximum drawdown, account lifetime, equity, etc.

• Profiles of each trader have terms of cooperation, such as a monthly fee, which depends on the investor’s amount involved in copying. The subscription amount is paid per each month, regardless of the number of trades and their effectiveness. If investors unsubscribe from a trader's account, payment is only charged for the subscription period.

As of subscription, all trades opened by a trader are copied to the investor's account automatically in accordance with the specified parameters (copying proportion, trade volumes, etc.).

Learn More About MT4 Copy Trading

The other option is copying trades directly from MT4 or MT5. The MQL5.Community is a community of traders based on the MQL5 website. To start copying trades, you need to:

• Register on the MQL5 website and make a deposit (not to be confused with replenishment of the broker's account).

• Link the MT4 or MT5 platform to your community account. To do this, go to “Service/Settings/Community” and provide registration information in the community (login and password).

• In the “Platform” window (or in a window with similar functionality), select the “Signals” tab.

In this tab you will find a list of traders with a detailed review of their trading and subscription fees. Advantages of copying trades via MT4/MT5 are detailed statistics with backtest and strict requirements for getting into the MQL5 rating.

Admirals affiliate programs:

• Introducing Broker is a standard partnership program, which provides for a partner to receive a part of the fee paid by a referee to the broker. The higher the trading volume of the referee, the bigger the payout to the partner. The amount of remuneration is up to 25% of spread and fee.

• Media partner is a program for those who can generate user traffic and redirect it to the broker’s website. It is suitable for owners of websites and blogs. The remuneration depends on the referees’ deposits and their jurisdictions.

• “Refer a friend” (available for traders working with Admirals AU Pty Ltd regulated by ASIC). The offer is valid for every trader who opens the Invest.MT5 account. Reward is up to $750 per friend invited through a referral link.

• White Label is designed for investment companies, banks, and other financial institutions.

Each client of the platform can access the network of the participants involved and to determine who will carry out the trading operations. The main purpose of having referrals is to get part of the commission from a broker.

4

Squared Financial - Investment Programs

Investment Programs, Available Markets and Products of the Broker

Squared Financial enables clients to generate both active and passive income. For experienced managers and investors, the broker offers the Multi-Account Managers (MAM) service. Squared Financial does not have a proprietary social trading platform, but investors can use MT4 and MT5 trading terminals to connect to the built-in services for copying transactions of other MQL5.community members. In turn, successful traders can make their own trading strategy available and receive passive income.

Multi-Account Managers — high-security trust accounts with investment protection 

The unique MAM technology allows an experienced trader (account manager) to simultaneously manage the accounts of an unlimited number of passive investors. At the same time, the investor gets increased protection of funds due to contracting with the manager after full disclosure of information about him. The manager does not have access to all the investor’s funds: he opens transactions using only the volume of investments that the passive investor has entrusted to him. Features of the Multi-Account Managers service:

• Only an institutional partner who has provided Squared Financial and potential investors with full information about themselves can become a manager.

• Management of accounts can be opened on the MT4 and MT5 platforms.

• The investor has the right to close the account manager’s transactions; that is, correct his strategy if it does not correspond to the acceptable level of risk.

• An investor can arrange for individual settings. The investor has access to setting the limit for the maximum lot for transactions and the maximum amount of loss as a percentage of the account balance.

Before transferring funds under management, the account manager enters into a separate agreement with each passive investor. It contains all the conditions of cooperation, the rights and obligations of the parties, and the amount of remuneration for the manager. The Master assumes legal responsibility for the money entrusted to him, which guarantees full transparency of the process.

Squared Financial’s affiliate program

• Introducing Broker (IB). The amount of remuneration for the single and multi-level IB program is up to 65% of the trading commission of the attracted referral.

Both financial corporations and private traders can become partners. The more open transactions users make, the more income the IB gets. Institutional clients also have access to White Label, MAM, institutional partnership as well as improved liquidity solutions.

5

Windsor Brokers - Investment Programs

Investment Programs, Available Markets and Products of the Broker

The goal of Windsor Brokers is to offer favorable terms for independent trading. The broker offers only two options for obtaining passive income — a referral program and access to a trade copying service. Clients of the company are unable to invest in trust management accounts (such as PAMM accounts) or ready-made portfolios with varying levels of risk.

MQL5 Signals is a trade copying service from MQL5.community

After registering on the MQL5.community platform, Windsor Brokers clients can choose a suitable trading strategy and subscribe to it. This requires having an amount on the account that can cover the subscription price. The fee for connecting to the service is automatically deducted from the investor’s account in advance at the time of registration of the request. In the event of a profitable trade, the signal provider will be paid 20% of the profit. The terms and conditions are as follows:

• While each user is allowed to copy multiple signals, a single trading account can only be used to subscribe to a single provider.

• The investor sets up the subscription parameters on his own. He authorizes the copying of the stop loss and take profit levels and specifies the acceptable spread between the execution price and the copied trade’s price, within which trading signals will be executed.

• The subscriber independently determines the percentage of funds on the trading account that will be used for the purchase or sale of answer asset.

• The investor specifies the minimum amount of his own funds on the trading account, at which the execution of trading signals will be stopped and all positions will be closed.

Any broker’s client can be both an investor and a trader. Trading results are provided in visual form as reports and charts. The subscriber can choose a signal provider based on maximum profit, reliability, and monthly income. It is also possible to sort by leverage, intraday trading effectiveness, and subscriber reviews.

Windsor Brokers referral program

These are the terms of the referral program:

• The referral program pays the client for newly connected traders (referrals), the amount of which is determined by the trader’s trading activity.

• The introducing broker (IB) provides discounts or the trader pays part of his fee to the introducing broker.

• Web Affiliates are paid a reward from website owners for each trading account created from directed traffic.

• The White Label program rewards a fee to the partner company that sells Windsor Brokers services under its own brand.

Windsor Brokers offer individual remuneration schemes for partners, multilingual client support service, easy setup, and free access to the Windsor Partners portal.

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.