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In my experience as a forex trader, when I evaluate a broker like Applied Derivatives, my first concern is always the level of regulatory oversight. Unfortunately, I noticed that Applied Derivatives currently operates without valid regulatory information, as highlighted by their "suspicious regulatory license" status and explicit warnings about high potential risk. This absence of reliable regulation immediately puts me in a position where I have to be incredibly cautious, especially with cost structures such as swap fees or overnight financing charges. Whenever I compare swap fees, I rely on the transparency and published data offered by regulated brokers, which Applied Derivatives does not seem to provide on their public channels. This lack of transparency means that, for me, there is no reliable way to benchmark their overnight financing costs against those from well-established, regulated competitors like XM or Plus500. These brokers, both regulated in Australia, clearly detail their fee structures, allowing for informed comparisons and risk management. Given Applied Derivatives' lack of regulatory standing and opaque fee disclosures, I do not feel comfortable assessing whether their swap fees are competitive. For my own trading, I would avoid engaging with brokers where such basic cost information isn't verified and accessible, as the risk of unexpected or unfavorable charges is too high. In short, until clear, regulated information is available, I would not recommend trusting the competitiveness of Applied Derivatives’ swap fees relative to industry standards.