No interest on contracts that last more than 24 hours
We offer swap-free trading accounts to clients who cannot use swaps due to their religious beliefs. Forex Islamic accounts, also known as swap-free accounts, imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
The swap-free option is available on both SquaredPro and SquaredElite account types on MT5.
What is an Islamic Account
Islamic (swap-free) accounts have exactly the same trading terms and conditions as our regular trading account types. The only difference is that there are no swaps on trading instruments. However, a holding fee or storage fee will apply when holding open positions overnight after 14 days.
Before you apply for a swap-free account, make sure that you have read and understood, and that you comply with our Islamic Account Terms & Conditions.
Supported Swap-Free Trading Symbols
| SYMBOL | INSTRUMENT | ADMINISTRATIVE FEE |
|---|---|---|
AUD/CAD |
AUSTRALIAN DOLLAR / CANADIAN DOLLAR |
$5 |
AUD/CHF |
AUSTRALIAN DOLLAR / SWISS FRANC |
$5 |
AUD/JPY |
AUSTRALIAN DOLLAR / JAPANESE YEN |
$10 |
AUD/NZD |
AUSTRALIAN DOLLAR / NEW ZEALAND DOLLAR |
$5 |
AUD/USD |
AUSTRALIAN DOLLAR / US DOLLAR |
$5 |
CAD/CHF |
CANADIAN DOLLAR / SWISS FRANC |
$5 |
CAD/JPY |
CANADIAN DOLLAR / JAPANESE YEN |
$10 |
CHF/JPY |
SWISS FRANC / JAPANESE YEN |
$5 |
EUR/AUD |
EURO / AUSTRALIAN DOLLAR |
$5 |
EUR/CAD |
EURO / CANADIAN DOLLAR |
$5 |
EUR/CHF |
EURO / SWISS FRANC |
$5 |
EUR/GBP |
EURO / GREAT BRITAIN POUND |
$5 |
EUR/JPY |
EURO / JAPANESE YEN |
$10 |
EUR/NZD |
EURO / NEW ZEALAND DOLLAR |
$5 |
EUR/USD |
EURO / US DOLLAR |
$5 |
GBP/AUD |
GREAT BRITAIN POUND / AUSTRALIAN DOLLAR |
$5 |
GBP/CAD |
GREAT BRITAIN POUND / CANADIAN DOLLAR |
$5 |
GBP/CHF |
GREAT BRITAIN POUND / SWISS FRANC |
$5 |
GBP/JPY |
GREAT BRITAIN POUND / JAPANESE YEN |
$15 |
GBP/NZD |
GREAT BRITAIN POUND / NEW ZEALAND DOLLAR |
$5 |
GBP/USD |
GREAT BRITAIN POUND / US DOLLAR |
$5 |
NZD/CAD |
NEW ZEALAND DOLLAR / CANADIAN DOLLAR |
$5 |
NZD/CHF |
NEW ZEALAND DOLLAR / SWISS FRANC |
$5 |
NZD/JPY |
NEW ZEALAND DOLLAR / JAPANESE YEN |
$10 |
NZD/USD |
NEW ZEALAND DOLLAR / US DOLLAR |
$5 |
USD/CAD |
US DOLLAR / CANADIAN DOLLAR |
$5 |
USD/CHF |
US DOLLAR / SWISS FRANC |
$5 |
USD/JPY |
US DOLLAR / JAPANESE YEN |
$10 |
XAU/USD |
GOLD / US DOLLAR |
$15 |
XAG/USD |
SILVER / US DOLLAR |
$5 |
XPT/USD |
PLATINUM / US DOLLAR |
$10 |
XPD/USD |
PALLADIUM / US DOLLAR |
$10 |
XAU/EUR |
GOLD / EURO |
$15 |
BTC/USD |
BITCOIN / US DOLLAR |
$15 |
ETH/USD |
ETHERIUM / US DOLLAR |
$5 |
Benefits
How to open an Islamic account
The swap-free account can be chosen as part of the trading account registration in 3 easy steps:
1
Register
Register for a SquaredFinancial account
2
Verify
Verify your email address
3
Fund
Request an Islamic account from the Client Portal
