An Islamic, or swap-free, account replaces overnight swap interest with an administration fee or none at all, so it complies with Sharia law that forbids earning or paying interest. Many brokers offer it to Muslim traders, though terms and eligible instruments vary between them.
Forex Term
Islamic Account (Swap-Free)
An account with no overnight swap interest, for Sharia compliance.
Example
A swap-free account lets a trader hold a position overnight without being charged swap interest.
Related Terms
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Risk
Forex and CFD trading involves significant risk of loss and is not suitable for all investors. Leverage can work against you. This content is educational and not financial advice — always do your own research.