Swap-Free Islamic Accounts by EverFX

For us, cultural diversity is an incredibly important issue. This is why we ensure that we do everything in our power to make online trading accessible for all cultures and religions. EverFX has made it a priority to deliver a high quality trading product that is localized to all the regions that we operate in and tailored to different cultures. To this end, we offer Islamic accounts that are fully compliant with the very strictest interpretations of sharia law and are completely free of riba of any kind. We achieve this by eliminating the usual carry payments and swap charges that normally apply to positions that are held overnight or over weekends. Our Islamic traders can enjoy swap-free trading with exactly the same conditions as non-swap-free traders as well as the same outstanding execution and access to a wide variety of markets

Requirements For a Swap-Free Islamic Account

To apply for an Islamic account, simply contact our support team using the form below. Please be aware that you might be asked for documentary proof of faith before a request can be processed

FAQ Islamic Accounts

  • What is an Islamic forex account?
  • Is it haram to trade?
  • What is Islamic trade finance?
What is an Islamic forex account?

An Islamic forex account is a type of trading account that is designed so that traders of the Muslim faith may trade financial markets while remaining in compliance with Islamic religious laws that forbid the payment of interest. The way that CFD forex trading works normally requires for positions that are held overnight to be closed and reopened with the interest differential either credited or debited to or from the trader’s account. This is to keep the contract rolling for those trading at longer time frames and is usually performed at a time that causes minimum disruptions. Swap-free accounts avoid this rollover interest payment by charging a flat fee and for this reason are in compliance with Islamic law.

Is it haram to trade?

It is not haram to trade, in fact Islamic traders have been enormously influential throughout history. It is the charging of interest, or riba, that is considered haram in the Qu’ran. To cater for their Muslim traders, it is now common practice for brokerages to offer interest-free, or swap-free accounts.

What is Islamic trade finance?

This is simply trade finance that is conducted in accord with the rules of the Qu’ran. In online trading this usually involves swap-free accounts as riba, the charging or collecting of interest is forbidden by sharia law.

Apply For a Swap-Free Account