FIXI Markets offers an Islamic Swap-Free trading account which is compliant with Sharia.
The Islamic Swap-Free trading account offers interest free swaps on GBP, CAD, CHF, EUR, JPY, XAG and XAU against the dollar and each other. All other exotics and pairs will either receive or pay interest rate swaps on positions held overnight.
Clients benefiting from this account can hold their positions for an undetermined period of time without incurring any interest, however positions held for more than a week will be charged a holding fee of USD 25 (or equivalent) per lot per week.
The Islamic Swap-Free Trading Account conditions are offered for all account types, regardless of base currency or leverage offered.
Clients are prohibited from undertaking any carry trades/arbitration or any other strategy to take advantage of interest differences between currencies.
In the case of abuse/suspicion of abuse, FIXI Markets may at its sole discretion decide to close all open positions and remove the swap free conditions.
FIXI Markets reserves the right to discontinue a Limited Swap Free account without warning.
The Client acknowledges and agrees that in case of loss caused to FIXI Markets, due to rollovers of positions on swap-free account(s), FIXI Markets will have the right to obtain said loss from the Client by debiting any of their accounts by the amount. If the clients' accounts hold insufficient funds to compensate, the Client agrees to wire the requested amount to their account(s) upon FIXI Markets, first request.
Should you wish to learn more about FIXI Markets, Islamic Swap-Free Trading Account, please use the contact form below.