How swap-free accounts work, what fees replace overnight interest, and what to check before assuming an account is Sharia-compliant.
23 questions and answers in this section, reviewed monthly.
A swap-free account removes the overnight interest credit or debit that normally applies when a position rolls past the daily cut-off, because riba is prohibited. Brokers offset the lost revenue through a slightly wider spread, a flat administration fee per lot after a grace period of typically 3–10 nights, or by excluding exotic pairs from swap-free status.
No. Removing swap addresses riba, but scholars also examine gharar (excessive uncertainty), the immediacy of exchange and whether the underlying instrument is permissible. Some brokers publish a fatwa or a Sharia supervisory board opinion covering their specific account; most do not. If compliance matters to you, ask for that documentation in writing before funding.
Yes. Most client agreements allow the broker to revoke swap-free status if it judges the account is using it primarily to carry positions for interest arbitrage, and some retroactively apply the swaps that were waived. Keep holding periods reasonable and read the swap-free annex before assuming positions can be held indefinitely at no cost.
Yes, FP Markets offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Exness offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, FXTM offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Tickmill offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, HFM offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Pepperstone offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Vantage offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, IC Markets offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Admirals offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, XM offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Capital.com offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Equiti offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, XTB offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, AvaTrade offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, ADSS offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Plus500 offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Evest offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, Octa offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, HEDG offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
Yes, AFAQ Trade offers a swap-free (Islamic) account that removes overnight interest. Confirm the details that vary between brokers: which instruments are covered, whether a grace period applies before an administration fee replaces the swap, and whether the broker publishes a Sharia board opinion for that specific account type.
