Swap Free Accounts
We Offer Swap-Free Accounts to Cater for the needs of all Traders around the World.
What is a Swap-Free Trading Account?
A swap-free trading account, also known as an Islamic Account or Shariah-Compliant Account, is tailored for traders who cannot participate in swaps or interest-related transactions due to religious beliefs. These accounts are free from swap or rollover fees, ensuring that traders neither pay nor receive interest on their overnight positions.
In trading, a swap refers to the interest paid or received for holding a position overnight, calculated based on the differential interest rates of the traded currencies.
XS Swap-Free Accounts
XS offers normal swap-free accounts (Islamic Accounts) specifically for Muslim clients who, for religious reasons, opt out of daily swap fees, while a conditional special swap-free accounts program might exist for non-Muslim clients.
Normal swap-free accounts (Islamic Accounts) are automatically provided to clients residing in the following Islamic countries (United Arab Emirates, Algeria, Bahrain, Egypt, Jordan, Kuwait, Libya, Lebanon, South Sudan, Djibouti, Pakistan, Tunisia, Saudi Arabia, Qatar, Oman, Morocco, Türkiye, & Iraq).
Special Swap-free accounts are automatically provided to clients residing in some selective non-Islamic countries and/or might be provided upon request to selective clients residing in non-Islamic countries. Please check with your account manager if your country is eligible for special swap-free accounts program.
Unlike most brokers, who might widen the spreads or impose additional fees (such as handling fees, storage fees, or administration fees), XS imposes no additional charges on swap-free accounts.
Our swap-free accounts maintain the same trading conditions and terms as regular accounts, with the sole difference being the absence of swaps during the swap-free grace period, which may vary by instrument. Swap-free status is applicable to all account types.
Key Features of XS Swap-Free Accounts
Availability
Across Platforms:
The swap-free option is available for all account types on the MetaTrader 4 and MetaTrader 5 trading platforms.
Uniform
Status:
Once your XS account is designated as swap-free, all your trading accounts and account types will also enjoy swap-free status.
No Additional
Charges:
XS does not substitute the swap by widening spreads or imposing additional fees, ensuring transparent and fair trading conditions.
Swap Free Grace Period
Special Swap Free Accounts (For Selective Non- Muslim Countries)
| Asset Class | Grace Period |
|---|---|
| FX Majors | 5 Days |
| Gold | 5 Days |
| Cryptos | 2 Days |
Important Considerations
Before trading on our swap-free accounts, please ensure that you have read, understood, and agreed to the relevant terms and conditions. XS reserves the right to cancel the swap-free status on all trading accounts and apply swap charges for existing and future open orders.
Join XS today and take advantage of our swap-free accounts, designed to meet the needs of all traders around the globe.
