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 | Symbols | Grace Period |
|---|---|---|
| FX Majors | AUDUSD EURUSD GBPUSD NZDUSD USDCAD USDCHF |
5 Days |
| USDJPY | 2 Days | |
| Gold | XAUUSD XAUEUR |
2 Days |
| Cryptos | All Crypto Pairs | 2 Days |
Example 1
Consider a EURUSD position opened on Thursday before rollover time (23:59 server time), hence 5 days grace period will be counted as follows:
| 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|
| Thursday | Friday | Saturday | Sunday | Monday |
The position will become swap enabled if remains open on Tuesday at rollover time (23:59 server time).
Example 2
Consider a EURUSD position opened on Friday before rollover time (23:59 server time), hence 5 days grace period will be counted as follows:
| 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|
| Friday | Saturday | Sunday | Monday | Tuesday |
The position will become swap enabled if remains open on Wednesday at rollover time (23:59 server time). The applied swap will be x3 because it is a Wednesday.
Example 3
Consider a EURUSD position opened on Monday before rollover time (23:59 server time), hence 5 days grace period will be counted as follows:
| 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|
| Monday | Tuesday | Wednesday | Thursday | Friday |
The position will become swap enabled if remains open on Monday at rollover time (23:59 server time). No Swaps on Saturday and Sunday.
Important Considerations
Before trading on our swap-free accounts, please ensure that you have read, understood, and agreed to the swap free related terms and conditions on this page and on the XS General terms and conditions.
The number of days of grace period varies, depending on the instruments traded. XS reserve the right to amend the grace period from time to time. It is the responsibility of the client to monitor the respective terms in the company’s Website. In case where the grace period is not specified, the number of swap free days will be decided upon the Company’s sole discretion, depending on the trading style of the Client.
XS reserves the right to cancel swap free trading and/or retrospectively charge the waived swap fee for existing and future open orders, and/or reverse any cumulative profits derived from the said trading at any given time upon its sole discretion in cases of suspicion of swap abuse aiming at generating riskless profit by abusing the Company’s trading conditions.
Example of forbidden swap abuse activities that might lead to canceling swap free trading and/or retrospectively charging the waived swap fee for existing and future open orders, and/or reverse any cumulative profits derived from the said trading, includes but is not limited to Internal Hedging and/or External Hedging.
Join XS today and take advantage of our swap-free accounts, designed to meet the needs of all traders around the globe.
