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Speaking purely from my personal experience and based strictly on the available broker details, Sierra Futures specializes in futures trading, where the concept of overnight swap fees, as commonly seen in forex or CFD trading, generally doesn't apply in the same manner. In the world of exchange-traded futures, positions are typically rolled over by closing and reopening contracts, rather than accruing overnight financing fees or swaps charged by the broker itself. Instead, carrying costs, if any, manifest through margin requirements and the settlement process dictated by the respective exchanges, not through discretionary broker-imposed swap rates. When I compared Sierra Futures to other brokers I've used, whose business is similar (futures-focused and exchange-based), my costs for holding positions overnight were fundamentally tied to exchange rules rather than hidden broker fees. However, it's essential to remember that Sierra Futures operates without regulatory oversight, which always leaves me somewhat uncomfortable, particularly when it comes to transparency around all costs and trading conditions—including anything resembling overnight charges. Because Sierra Futures is not regulated, there's an added layer of uncertainty that I wouldn't experience at a fully licensed and regularly audited brokerage. As a result, while explicit swap or overnight financing fees may not be a stated concern here, I urge extra caution: always review margin policies, ensure you fully understand the cost structure, and do not assume all practices align with more tightly regulated firms. In short, while structurally similar overnight charges may not exist at Sierra Futures, I would advise any trader to verify every potential cost directly before committing significant funds.