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.
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 handling charge applies for holding exotic currency pairs overnight for more than three consecutive nights.
Before you apply for a swap-free account, make sure that you have read and understood, and that you comply with our Terms & Conditions (part A, section 7) for the Islamic Account.
Supported Swap-Free Trading Symbols
EURUSD |
AUDUSD |
GBPUSD |
NZDUSD |
USDCAD |
USDCHF |
USDJPY |
AUDCAD |
AUDCHF |
AUDJPY |
AUDNZD |
CADCHF |
CADJPY |
CHFJPY |
EURAUD |
EURCAD |
EURCHF |
EURGBP |
EURJPY |
EURNZD |
GBPAUD |
GBPCAD |
GBPCHF |
GBPJPY |
GBPNZD |
NZDCAD |
NZDCHF |
NZDJPY |
XAUUSD |
Benefits
No hidden costs
Leverage up to 1:500
No additional rollover commissions for a contract longer than 24 hours
Multilingual customer support
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
