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How do CITIC SECURITIES' swap fees or overnight financing charges stack up against those offered by other brokers?

Broker Issues
CITIC SECURITTIES
Fees and Spreads
03-26
United States
WikiFX
Reply

In my experience as a forex trader, assessing a broker’s overnight financing or swap fees is essential, as these costs can significantly impact long-term positions. However, when I investigated CITIC SECURITIES, I discovered that their public information doesn’t specify the details or structure of their swap fees. The only guidance provided is to consult the broker’s official fee schedule. This lack of transparency is not ideal, especially when many competitors clearly display their swap rates or financing costs directly on their platforms or websites for trader reference. From a risk management perspective, this omission makes it difficult for me to compare CITIC SECURITIES against other brokers, particularly those catering to active traders who hold positions overnight and need to forecast potential costs accurately. While CITIC SECURITIES is regulated in Hong Kong and has well-established operations, the inability to easily review and compare overnight financing charges means I would have to contact their support or dig through official documents, which slows down the due diligence process. In summary, for me, the lack of direct swap fee disclosure creates an unnecessary barrier, especially when considering brokers who are transparent and competitive about these common trading costs. I strongly advise anyone considering CITIC SECURITIES to request a detailed and up-to-date fee schedule before opening an account, as overnight fees can be a significant factor in long-term profitability.

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