Islamic Accounts
Swap-free service is particularly designed for traders, the religious beliefs of whom do not allow the usage of the interest rates of world currencies in their trading.
Accounts with swap-free service are also called «Islamic account», the main peculiarity of which is the absence of accrual and write-off of swaps, calculated based on credit rates of national central banks.
Swap-free terms and conditions:
- Swap-free is available only for the following account types: Standard Account, Premium Account, Vip+;
It is not available for PAMM accounts. - Swap-free is available only for Muslim clients from the limited list of countries, where Islam is the state and/or the predominant religion;
- Swap-free is valid for a limited list of trading instruments: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY, USDSGD, XAUUSD (Gold), XAGUSD (Silver). For all the other instruments swaps are calculated and accrued in the standard mode;
- It is strictly prohibited to use any trading strategies aimed (directly or indirectly) at making a profit from the difference in interest rates (carry trade);
- For deals which are open more than 2 days, the company charges a fixed commission for all days during the deal was opened. Commission is fixed and determined as the value of 1 point of the deal in US dollars, multiplied by the swap points of the currency pair in the deal;
- The Company reserves the right to refuse the provision of the swap-free service any time and debit the swaps for all days during the deal was opened in case of violation of the conditions.
How to "Enable Swap-Free" in the account:
- First, login to your Personal Area;
- From the “My Accounts” tab, click on the “My Trading Accounts” sub-menu;
- In this section, the list of your trading accounts is displayed. Please find the account for which you want to activate the Swap-Free service and click on the setting sign on the left side;
- In the opened window, select "Enable Swap-Free" option. With this action, Swap-Free service will be activated in your trading account.
