List of Top Swap Free Forex Broker Islamic account in the world. Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against Islamic faith. Some Brokers offers Islamic accounts to clients following the Muslim faith.
XM Global
The XM forex Islamic accounts differ greatly from those generally offered by other forex brokers. The difference lies in the fact that unlike most forex companies who substitute additional fees by widening the spread on Islamic accounts, XM imposes no additional charges.
- No interest/swap charges on overnight positions
- No spread widening
- Positions can be held with no time limit
- Leverage up to 1000:1
- 100% real-time market execution
In order to abide by the religious law of Islam, traders of Islamic faith are forbidden to pay interest. However, if the interest charge is transferred to a different type of fee, it is basically still a charge that covers the interest. This is also known by the name of swap-free in disguise. XM is firmly against such practices as it opposes fair and ethical trading conditions.
BDSwiss
BDSwiss does offer Swap-Free/Islamic accounts. Please note that Swap-Free applies for 10 calendar days only. Therefore, Swap-Free accounts holding a position open for more than 10 calendar days, will be credited or debited swap accordingly.
The Company’s Swap-Free/Islamic account allows swap-free trading in compliance with the Sharia Law, which means traders can trade on an Islamic account without being charged overnight fees. The Company’s Swap-Free/Islamic account is only available for traders of the Muslim religion and should only be requested on the grounds of religious belief.
BDSwiss is a leading financial institution, offering Forex and CFD investment services to more than a million clients worldwide. BDSwiss as a brand was established back in 2012 and has since then been providing award-winning conditions, world-leading platforms, competitive pricing and optimal execution on more than 250 underlying CFD instruments.
ActivTrades Swap free Account
Since 2001, ActivTrades has been a pioneer in online trading. Initially The broker gained expertise in making FX markets available to retail traders, over the years forex broker have expanded to include commodities, shares, indices, crypto, ETFs and bonds.
The swap free account can keep open positions in the account without a swap for up to 10 days. Additionally, please note that The activtrades only provide Islamic accounts for clients who need them due to religious reasons. It is not available to everyone indiscriminately.
Today, ActivTrades prides itself on being a true multi-asset brokerage with unbeatable trading conditions and a range of value added tools and services for its clients.
GO Markets
GO Markets now offers a Swap Free Trading Account tailored for traders who are unable to pay or receive swaps (interest).
When trading currencies, metals and CFDs, Swap Free accounts will not earn and/or pay interest for any trades. A standard daily administration fee will be charged for expenses related to managing the Swap Free Account. As with any other GO Markets account, you can trade 1000+ instruments including Forex, Cryptocurrency, Indices and Commodity CFDs.
Swap Free Accounts can be used across all GO Markets MetaTrader 4 platforms.As a trust global provider, GO Markets endeavours to provide high quality infrastructure, fast execution speeds, transparent, secure and reliable services to all of traders. GO markets offers 11 days free trading for Swap Free accounts, after which daily admin fees apply.
Instaforex
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world’s leading brokers. The company have won the trust of more than 7,000,000 retail traders, who have already appreciated reliability and focus on innovations
The swap-free service is applicable to all Customer’s trading operations, except:
- Those performed with USD/HKD, EUR/RUR and USD/RUR instruments for which swaps are charged on a regular basis in all accounts;
- Transactions with any instrument of the following asset groups: “CFD on stock”, “Cryptocurrencies” if open positions are maintained by the funds borrowed from the company and not by the client’s own funds.
- Those performed with any instruments of the “Forex”, “Indices”, “Futures”, and “Metals”, from the moment when their duration exceeded 7 days
eToro swap free account
The eToro platform gives traders and investors access to more than 5,000 different financial assets, including stocks, cryptocurrencies, ETFs, indices, currencies and commodities which can be invested in both with and without leverage, giving almost anyone access to short-, mid- and long-term investment options.
For all assets, excluding crypto CFDs, the seven-day grace period is determined as follows:
Each business day from Monday to Friday, where a trade remains open beyond 22:00 GMT, is counted as one day. However, the corresponding three-day fee for each asset (detailed below) is accounted for as three days.
For crypto CFDs, the seven-day grace period is determined as follows:
Each calendar day that a trade stays open past 22:00 GMT (including Saturdays and Sundays) is considered as one day. Crypto CFDs do not have a triple-fee day.
Consequently, for all assets, if you open your position on Monday, the administrative fees will start accruing on the following Monday.
LiteFinance
Swap-free accounts are automatically opened for clients in the following countries: Malaysia, Pakistan, Afghanistan, Bangladesh, Tajikistan, Uzbekistan, Qatar, Yemen, Iran, Egypt, Indonesia, Kyrgyzstan, Turkey, Morocco, Algeria. Residents of these countries do not need to apply for a Swap-Free account.
For other traders, Swap-Free accounts are provided only after filling out an application in the Client Profile. Swap-free accounts are unavailable for clients in the following countries: China, South Korea, Vietnam.
