A swap (also called overnight financing or rollover fee) is the interest charged or paid when you hold a trading position overnight.
A Swap-Free account means no overnight interest, rollover fee, or swap is charged or credited for positions held beyond the trading day.
Yes - a Swap-Free (Islamic) account is structured to comply with Islamic trading principles by eliminating interest-based charges.
Clients agree to operate the account in good faith and solely for purposes consistent with Islamic principles.
However, misuse (e.g., carry-trade strategies to profit from interest rate differences) is prohibited and may lead to account status being revoked.
Swap-Free accounts do not incur swap or interest charges.
However:
• Standard spreads & commissions still apply.
• There is no fee for the first 10 days of holding a position.
• After 10 days, the company may apply a fixed administrative/holding fee per day per instrument to cover operational costs.
These administrative fees are not interest - they are operational costs, in line with Islamic finance rules.
