Swap-Free Account Checklist

Broker-side checks

Tick off as you confirm each item with the broker's official documentation (not the marketing page).

• Swap explicitly set to zero on every instrument I plan to trade
• Where the swap-free policy is documented (in the broker's official terms / specs page)
• Whether replacement / administration / holding fees apply, and after how many days
• Whether replacement fees are per lot, per day, flat, or tiered
• Whether spreads on the swap-free account are identical to the regular version
• Commission identical to regular account
• Whether swap-free is automatic by country, or requires application + documentation
• Whether there is a time limit (e.g. 30 days) before swap-free reverts to standard
• Which instruments are eligible (forex majors, gold, indices, crypto CFDs)
• Which instruments are excluded
• Legal entity that will hold my account (and its regulator)
• Negative-balance protection on the swap-free account
• Leverage limits on the swap-free account

Scholar-side checks

Take to a qualified Islamic finance scholar familiar with modern markets.

• Discussed whether removing swap (without replacement fees) satisfies the riba concern
• Discussed how the scholar treats administration / holding fees that replace swap
• Asked whether they distinguish CFD trading from spot exchange in their ruling
• Asked their view on qabd (possession) in electronically settled contracts
• Asked about acceptable leverage levels, if any
• Asked whether trading approach (planned vs speculative) affects their assessment
• Got conditions, if any, you'd commit to (no overnight holds, instrument limits, etc.)

Self-side checks

Honesty checks before depositing.

• Trading capital I can afford to lose entirely
• Written trading plan, journal, risk-management framework
• Comfortable with the scholarly position — not shopping for the most permissive answer
• Willing to stop if new evidence or scholarship changes my view
• Verified the broker's regulator on the regulator's official register

Readiness score