A swap-free account (sometimes "Islamic account") is a broker account that does not charge or pay overnight swap. Mechanically, that is the entire feature. Everything else around it varies broker-by-broker.
What it removes
The interest charge or credit applied when a position is held past the दैनिक rollover. On a regular account this is calculated from the rate differential between the two currencies. On a swap-free account it is set to zero.
What it does not remove
- Spread.
- कमीशन.
- Slippage.
- मार्जिन requirement.
- Leverage rules.
- देश / इंस्ट्रूमेंट restrictions.
What may replace it
Some ब्रोकर्स compensate for removed swaps by charging an "administration fee" or "holding fee" after a defined number of days. Some widen the spread on swap-free accounts. Some restrict swap-free to specific instruments. Read the शर्तें.
Eligibility
Many ब्रोकर्स offer swap-free by default in certain countries; others require a request and proof of religion or residence. Some restrict it to a maximum holding period.
What swap-free does NOT certify
Swap-free is a financial feature, not a Sharia certification. Whether the resulting account satisfies Islamic-finance criteria for the trader is a separate प्रश्न. See the हलाल ट्रेडिंग अस्वीकरण.
अगला → steps on ShaFX
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