Islamic Swap-Free accounts

TrustMarkets offers a special type of account for its clients – Islamic Swap-Free accounts. Swap-Free account holders pay a flat fee instead of a swap. The commission does not depend on the interest rates of banks issuing currencies, but solely on the type of instrument and the number of open lots. This type of account was created for clients of Islamic faith who are not allowed to trade with a swap by religion.

islamic accounts

Swap-Free account registration

1.Open the
trading account

Open an account

2. Contact the Service
customer support

Submit your application

Terms of service and the size of the commission

  1. The “Swap-Free” service is available for connection on the trading accounts of our platform after submitting an application to the support service.
  2. When changing the account type to “Swap-Free”, the fee for moving a position to the next day depends solely on the selected instrument and the number of open lots. All other trading conditions remain unchanged.
  3. To activate the “Swap-Free” service, you must open an account in your Personal Account. After that, you need to contact the Customer Support Service in one of the available ways:
    – write a ticket from your Personal Account in the “Support Service” section.
    – contact the 24/7 online support chat.
  4. A prerequisite for changing the account type to “Swap-Free” is the absence of open positions on it.
  5. The client can cancel the service at any time. To do this, you need to contact the Customer Support Service.
  6. Service availability depends on the base currency of the account.
  7. Draw your attention to, that TrustMarkets reserves the right to refuse to provide the “Swap-Free” service at any time and without giving any reason. If this service is disabled, the company will write off and accrue swaps in accordance with the trading conditions specified on its official website.

Commission size for Islamic Swap-Free accounts

When changing the account type to “Swap-Free”, the swap is not charged or debited. In this case, a fixed amount of commission is debited from the client’s trading account for the transfer of open positions to the next calendar day.

The commission is indicated for 1 standard lot. The size of the commission, which is debited every day at 00:00 server time, is calculated as:

<Commission amount> = <Commission for 1 lot> * <Number of lots>