Islamic / swap-free accounts are sold as “no overnight interest”. That can be true on the swap line and still expensive somewhere else: an admin fee, a wider spread, or a short list of allowed pairs.
What to copy out of the PDF
- Which legal entity offers the account.
- Which instruments are swap-free — gold and indices are often different from majors.
- Whether a storage or admin fee replaces swap after a number of nights.
- Whether the status can be revoked if the firm decides your use is “abusive”.
If those lines are missing, you do not have a complete product description. Cost literacy still applies: spread vs commission.
It is not a loophole for holding losers
A swap-free ticket does not remove market risk. A gap can still stop you out. Leverage still applies — leverage and margin. Withdrawals still need a policy you can read: withdrawal policy.
Entity first, label second
Confirm the company on the register. A swap-free offer on an unverifiable site is not a religious accommodation; it is a funding pitch. How to choose a broker.
Peak Pips does not certify accounts as Sharia-compliant. We are a research desk. Ask the firm — and an advisor you trust — for that determination. Risk disclaimer.
Common question
Is swap-free always cheaper if I hold overnight? No. A flat fee can cost more than swap on a quiet pair, or less on a noisy one. Do the nights-held math on the pairs you actually keep open.
