Islamic (Swap-Free) Account Comparison

How to get one

Automatic for accounts registered from a listed Islamic country. Check status in the Personal Area under Trading conditions.

Eligibility

Applies automatically if you registered from: UAE, Saudi Arabia, Kuwait, Qatar, Oman, Egypt, Jordan, Lebanon, Algeria, Morocco, Tunisia, Iraq, Libya, and several non-Arab Muslim-majority countries. Clients elsewhere get a separate non-Islamic swap-free status with different rules. The two cannot be converted into each other.

Account types

Applies to the whole Personal Area: every account type you hold shares the status.

Admin / holding fee

None stated. Exness says all instruments carry zero swap on Islamic-country status.

Excluded instruments

None stated for Islamic-country status.

Other conditions

Exness says it makes no guarantee that the account meets any religious requirement and advises clients to seek independent advice.

How to get one

Submit a request to convert an existing real account (via the Members Area or "Open an Islamic Account"). XM reviews and confirms by email. Converts all of your real accounts at once.

Eligibility

Stated to be available only to clients who cannot use swaps for religious reasons. XM may ask for proof or justification and can refuse at its discretion.

Account types

Available on XM's standard account types; negative balance protection and hedging apply as standard.

Admin / holding fee

None stated.

Excluded instruments

A Fair Value Adjustment applies to overnight CFDs on spot metals, including gold and platinum (rates published in the Members Area).

Other conditions

XM can revoke swap-free status at any time without giving a reason, and can recover un-accrued swaps or cancel profits if it finds abuse (e.g. cash-back arbitrage).

How to get one

Request swap-free status at any time; converts all of your live accounts.

Eligibility

Stated to be available only to clients who cannot use swaps for religious reasons. IC Markets may require justification or proof.

Account types

Raw Spread and Standard, on MT4, MT5 and cTrader.

Admin / holding fee

A flat holding fee per lot per night once a grace period (up to 5 days) ends. Examples: EUR/USD $11, GBP/USD $9, USD/JPY $14, gold (XAU/USD) $71, US30 $25, oil (XTI/USD) $23, BTC/USD $46.21. Fees apply on calendar days, including weekends.

Excluded instruments

Natural gas, WTI and Brent oil: holding fee from day 1, no grace period. USD/JPY and GBP/JPY: fee from day 3 (2-day grace).

Other conditions

IC Markets can revoke swap-free status without giving a reason, and can recover a swap-equivalent fee or nullify trades if it finds abuse (manipulation, cash-back arbitrage, carry trades).

How to get one

Not stated on Pepperstone's current pages; the swap-free page links to the standard application.

Eligibility

Offered to residents of a listed set of countries: Bahrain, Kuwait, Oman, Qatar, Egypt, Jordan, Algeria, Morocco and others. The UAE, Saudi Arabia and Lebanon were not on the list checked, and the UAE swap-free page redirected elsewhere.

Account types

Standard spread type: average EUR/USD spread 1.0 to 1.2 pips, no commission, minimum opening balance AUD $200 or equivalent.

Admin / holding fee

An admin charge per standard lot once a trade has been held 5 days: $100 on FX and precious metals (effective June 2023). Whether it recurs after day 5 is not stated.

Excluded instruments

The published admin table covers only FX and precious metals; other asset classes are not addressed.

Other conditions

Not stated on the current page.

How to get one

Fully verify and fund your account first, then request it from Customer Services or your account manager. Usually processed in 1 to 2 business days.

Eligibility

Account must already be verified and funded.

Account types

Available on MT4/MT5; specific account types not detailed by AvaTrade.

Admin / holding fee

Positions can be held up to 5 days without an overnight fee. AvaTrade's help centre also says positions held longer than 5 days are charged swaps "even on Swap-free accounts". No fee amount is published.

Excluded instruments

Crypto CFDs are not available on Islamic accounts. Certain FX pairs (ZAR, TRY, RUB, MXN) are also excluded.

Other conditions

AvaTrade states that Islamic accounts carry an increased spread on FX pairs compared with regular accounts.

How to get one

Open an MT4/MT5 account, then email onboarding.team@fpmarkets.com from your registered address with your account number to request conversion.

Eligibility

Offered to clients of the Muslim faith. If religion is not shown on your official ID, FP Markets may ask for a Proof of Faith document (e.g. from your local mosque).

Account types

Islamic Standard and Islamic Raw, on MT4, MT5 and cTrader. Minimum opening balance $100; Raw commission $3 per 100,000 traded.

Admin / holding fee

A per-lot, per-night admin fee by symbol: EUR/USD $6, GBP/USD $3, USD/JPY $15, gold (XAU/USD) $50, US30 $9, oil (XTI/USD) $53, BTC/USD $60. A 5-night grace period applies only to 8 major pairs plus gold; all other listed symbols have no grace period.

Excluded instruments

Instruments not on the published admin-fee list are charged normal swap. Futures still carry the usual monthly rollover.

Other conditions

FP Markets can update the admin-fee schedule and posts changes on its website.

How to get one

Choose the Swap Free account type when opening a new account. Existing clients open an additional swap-free account through the account portal.

Eligibility

Offered only to clients from certain countries under XTB's international and MENA entities "according to internal policies"; the country list is not published. Not offered to UK/EU clients.

Account types

A dedicated Swap Free account type: minimum spread 0.7 pips, 0% CFD commission, leverage up to 1:500, $1 minimum deposit.

Admin / holding fee

None stated in the published fee table. XTB says swap-free applies "for specific periods and not all products"; the periods are not published.

Excluded instruments

Cryptocurrency CFDs are not available on Islamic accounts.

Other conditions

Availability depends on which XTB entity onboards you.

How to get one

Ensure there are no open trades on your regular account, then contact support@capital.com. You can hold a regular or a Swap-Free account, not both.

Eligibility

Offered to clients in the UAE, Kuwait, Qatar, Bahrain, Oman, Jordan, Saudi Arabia, Egypt, Lebanon, Tunisia, Algeria and Morocco who cannot use a regular account for religious reasons. Proof of faith may be requested.

Account types

A separate "Swap Free" account type.

Admin / holding fee

None stated. Capital.com says no overnight commission (swap) is applied.

Excluded instruments

None stated.

Other conditions

The spread on a Swap-Free account may differ from the regular account. The account is monitored; if used in bad faith, Capital.com can apply overnight commissions retrospectively, suspend or close the account.

How to get one

Open an account, then opt in via the Account section of the Client Portal. Takes up to 1 business day. Converting an existing account requires closing all trades and withdrawing remaining funds first.

Eligibility

Offered to clients who cannot use swaps for religious reasons; GO Markets may request additional documentation.

Account types

MT4 only, USD base currency only (Standard and GO Plus+). Accounts on MT5, TradingView or cTrader must be closed before converting.

Admin / holding fee

11 fee-free days (including weekends), then a daily admin fee per lot: FX and metals $40, indices $8, crypto $10, spot oil $15, BTC $50.

Excluded instruments

Indices: the swap-free period covers only overnight financing; dividend adjustments still apply from the trade's start.

Other conditions

GO Markets can revoke or refuse the account without explanation, and can charge admin or swap fees, nullify trades or suspend the account if it detects abuse. You cannot hold a regular and a swap-free account at the same time.

How to get one

Choose swap-free during the normal account application on the UAE site. Equiti may make it available "upon request" at its discretion.

Eligibility

Not fully specified; additional terms apply to who can open one.

Account types

Standard and Premier. The UAE "Swap Free Mini" product is available only on MT5.

Admin / holding fee

A daily admin fee by instrument tier after a grace period (2 to 10 days depending on tier), tripled on Wednesdays. Exempt if your deposited balance is $25,000 or less. Example tiers: gold (XAU/USD) $60 with a 2-day grace period, major pairs like EUR/USD $10 with a 7-day grace period.

Excluded instruments

Instruments not on Equiti's swap-free list are charged a normal rollover fee.

Other conditions

Equiti can revoke swap-free status or the fee exemption at its discretion. Only one account per client can hold the fee exemption.

How to get one

Apply by accepting or submitting CFI's Financing Cost Exemption Form.

Eligibility

Not all accounts are eligible. CFI may request additional documents and can refuse at its discretion; no religious or country condition is stated.

Account types

Zero Commission and Dynamic Trader.

Admin / holding fee

No fixed fee is published. CFI can apply a discretionary "carry cost" on accounts it considers inactive (with one week's notice), and sets a minimum trading-volume condition; if it is not met, CFI charges swaps in full.

Excluded instruments

Swap-free is not offered on TRY, NZD, SEK, DKK, NOK, SGD, RUB, MXN and ZAR pairs, Brent, equity CFDs, CAC40, AUS200, gas spot or HK50.

Other conditions

CFI reviews swap-free accounts weekly and can revoke status or recover un-accrued swaps if it detects abuse.

How to get one

Register a real account, deposit at least $1,000, and submit identification documents for verification.

Eligibility

Available only to customers from the UAE, Qatar, Oman, Bahrain, Saudi Arabia, Kuwait, Jordan, Morocco, Egypt and Algeria.

Account types

A swap-free status on the standard eToro account; all assets on the platform are tradable.

Admin / holding fee

After a 7-day grace period, a daily admin fee applies to CFD positions held past 22:00 GMT: currencies $10 to $80 per 100,000 units depending on tier, gold/silver/platinum $20 per lot, oil and gas $10 per lot, leveraged stock/ETF CFDs $3 per $10,000, crypto CFDs $6 per $10,000. A 3-day charge applies on Wednesday (FX, metals) or Friday (indices, oil).

Excluded instruments

Real stocks, ETFs and crypto (non-CFD) carry no admin fee.

Other conditions

eToro can revoke swap-free status at any time without notice, and explicitly states its swap-free accounts are not Sharia-compliant accounts.

How to get one

Apply for an Islamic Account; each application is assessed individually. ActivTrades suggests contacting its Middle East desk before applying.

Eligibility

Generally available to applicants of the Muslim faith. ActivTrades may request documents confirming religious affiliation.

Account types

A separate Islamic Account type.

Admin / holding fee

A 5-calendar-day grace period with no fees, after which admin fees may apply to certain instruments held overnight. No amount is published.

Excluded instruments

Cash indices are not permitted. Crypto and stock positions still carry normal swap charges.

Other conditions

ActivTrades can review, reclassify, suspend or withdraw Islamic status if trading activity looks inconsistent with its intended purpose.

IG does not currently offer a swap-free or Islamic account on its own sites. IG's UAE (DFSA) help centre has no swap-free article, and independent review sites report the option is no longer available (IG offered one in Dubai in the past).

How to get one

The US help centre states swap-free accounts are offered "in certain circumstances" and to contact FOREX.com for details.

Eligibility

Not published

Account types

Not published

Admin / holding fee

Not published

Excluded instruments

Not published

Other conditions

Only the US site has a first-party statement on swap-free accounts; the international help centre for non-US clients has no equivalent information, so terms for Gulf clients could not be confirmed.

What to check before you open a swap-free account

• The admin fee, not just the swap. Most brokers replace the overnight swap with a flat fee per lot after a grace period (often 0 to 11 days). Over a long-held position this can cost more than a normal swap would have.
• Which instruments are actually swap-free. Several brokers exclude certain currency pairs, oil, indices, crypto or stocks from the swap-free status, meaning those instruments still charge normal swap.
• Eligibility. Some brokers only offer swap-free accounts to residents of specific countries, or ask for proof of faith. A few (eToro, Capital.com) publish a country list; others decide case by case.
• The broker can usually revoke it. Nearly every broker's terms let it cancel swap-free status, recover fees, or close the account if it decides the account is being used to avoid interest rather than to trade (for example, holding very large positions with little trading activity).

Compare total trading costs, not just the Islamic terms, on the Gulf Broker Cost Index, or check which brokers accept your country. Working out your own zakat? Try the zakat calculator.

Terms change and vary by the legal entity you are onboarded under. Confirm the current terms on the broker's own site before opening an account. Found something out of date? Tell us with a link to the source.