Trade in compliance with Sharia principles. Our swap-free accounts eliminate overnight interest charges, so you can hold positions without riba — keeping your trading aligned with your values.
In standard trading, when you hold a position overnight past the daily rollover time (typically 00:00 server time), a swap fee is charged or credited based on the interest rate differential between the two currencies in the pair.
A swap-free (Islamic) account eliminates these overnight interest charges entirely. This makes it compliant with Islamic finance principles that prohibit riba (usury/interest).
Instead of swap charges, positions held beyond a grace period may incur a fixed administrative fee that does not vary with interest rates and is not interest-based.
Key principles of our swap-free accounts:
Our swap-free accounts are designed for traders who require interest-free trading in accordance with Islamic financial principles.
Traders who follow Islamic finance principles and need to avoid riba (interest). Our accounts are structured to be compliant with Sharia law.
Swap-free accounts are available to any client who requests them, regardless of nationality or religion. No documentation of faith is required.
Traders who hold positions for multiple days or weeks and want to avoid the cumulative cost of daily swap charges on their strategy.
Converting your account to swap-free is straightforward. Follow these steps to get started.
Register for a Classic, Pro, or VIP ECN account through our standard registration process.
Contact our support team via live chat, email, or through the client portal to request swap-free status.
Our team will review your request and apply swap-free status within 24 hours (usually same-day).
Once confirmed, all overnight positions will be free of swap charges. All other conditions remain the same.
Swap-free status applies to specific instrument categories. Here's what's covered.
| Instrument Category | Swap-Free Available | Grace Period | Admin Fee After Grace |
|---|---|---|---|
| Forex Majors | ✓ Yes | 7 days | Fixed daily fee |
| Forex Minors | ✓ Yes | 5 days | Fixed daily fee |
| Forex Exotics | ✓ Yes | 3 days | Fixed daily fee |
| Gold (XAU/USD) | ✓ Yes | 5 days | Fixed daily fee |
| Silver (XAG/USD) | ✓ Yes | 5 days | Fixed daily fee |
| Indices | ✓ Yes | 3 days | Fixed daily fee |
| Commodities | ✓ Yes | 3 days | Fixed daily fee |
| Crypto | — N/A | — | No swap charged* |
*Crypto CFDs are inherently swap-free on all accounts. Grace periods and admin fees are subject to change and disclosed in the client portal.
To prevent abuse of the swap-free facility, positions held beyond the grace period incur a fixed administrative fee. This fee is not interest-based — it's a flat charge per lot per day designed to cover the cost of maintaining the position.
The admin fee varies by instrument and is clearly disclosed in the MT5 contract specifications. It is charged daily after the grace period expires.
FXON reserves the right to revoke swap-free status if the facility is used for arbitrage strategies that exploit the absence of swaps rather than genuine trading purposes.
Swap-free status can be applied to any FXON ECN account. All other trading conditions remain identical.
| Feature | Classic ECN | Pro ECN | VIP ECN |
|---|---|---|---|
| Swap-Free Available | ✓ | ✓ | ✓ |
| Spreads | From 0.8 pips | From 0.2 pips | From 0.0 pips |
| Commission | $0 | $4/lot RT | $2/lot RT |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 |
| Execution | <40ms | <40ms | <40ms |
| Negative Balance Protection | ✓ | ✓ | ✓ |
Request swap-free status on any FXON account and trade in line with your principles.
Risk Warning: FX trading, margin trading and contracts for difference involve significant risk. Sudden price movements, market volatility and leverage may result in substantial losses. Trading may not be suitable for all clients. Before trading, you should fully understand the risks involved and carefully consider whether trading is appropriate for your experience, objectives and financial circumstances.
FXON Ltd does not provide services to residents of the United States or any other restricted jurisdiction. Services are available only to clients who meet the applicable legal age and eligibility requirements in their country of residence. Clients must be at least 20 years old. FXON Ltd's services are not monitored by the Japan Financial Services Agency, and FXON Ltd does not solicit or provide financial products or services to residents of Japan.
All information on this website is provided for general information only and does not constitute investment advice, financial advice, trading advice, solicitation, recommendation or an offer to buy or sell any financial instrument. Clients are responsible for their own trading decisions and should seek independent advice where necessary.
FXON Ltd is incorporated in the Republic of Seychelles with registration number 8428188-1 and registered address at F2-2A, Second Floor, Oceanic House, Providence Estate, Mahe, Seychelles.
FXON Ltd is authorised by the Financial Services Authority Seychelles as a Securities Dealer under Securities Dealer License No. SD091.
For support, complaints or regulatory queries, please contact us.