Forex brokers with rollover-free (swap-free) accounts | No swap Forex brokers




Below is the list of Forex brokers who offer Islamic or swap-free accounts with no rollover charges.
Besides Muslim friendly Forex brokers, there are also brokers who offer interest-free accounts to all traders.

Islamic account - can be opened for Muslims only.
Any account - can be opened for any client.
Standard account - needs further review.


Forex broker Swap free
account
Deposit Leverage Hedging Special conditions
1lotstp Any accounts. $100 400:1 yes No commission
1pipfix Any accounts. $100 200:1 yes Swap Free accounts subject to $10 overnight fee at 00:00 GMT time per Lot per open positions.
4runnerforex Standard accounts. $100 300:1 yes No commission
4XDG All accounts. $50 200:1 yes No special conditions
4XP Islamic account $100 300:1
(500:1)
yes 4XP offers Islamic accounts where rollovers are not carried-out. These accounts are constantly monitored to avoid abuse.
AAAFx Islamic account. $300 200:1 yes No fees are changed in order to replace swap fees.
Abshire-Smith Islamic account. $500 200:1 yes Scalpers are monitores so they don't abuse of the interest free
AccentForex Islamic account. $10 500:1 yes Every working day at midnight swap will not removed or charged.
Access to Forex Islamic account. $100 400:1 yes Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit.
ACM Islamic account. $2000 100:1 yes Fixed daily service fees apply for holding trades over night.
ACM Gold Islamic account. $250 500:1 yes Islamic clients only.
ActivTrades Islamic accounts. $250 400:1 yes No interest on contracts lasting longer than 24 hours - zero rollover interest consistently.
No additional rollover commissions.
Admiral Markets Islamic accounts. $10 500:1 yes No special conditions.
AFB FX Any account. $100 500:1 yes No special conditions.
AFB - Arab Financial Brokers Islamic accounts. $50 1000:1 yes No fees will be charged on your account.
AGEA Islamic accounts. $1 100:1 yes Zero-Interest policy on all open positions, meaning that there is no overnight interest charged or paid on open positions while trading on the default trading platform.
AGM Forex Islamic account. $100 500:1 yes All accounts are swap-free for everybody without any additional charges.
Alpari UK Any account. $200 500:1 yes Swap-free accounts incur commission charges. Daily overnight handling charge starting from 10 base units per night per lot depending on the currency traded.
Alpari US Islamic accounts. $500 50:1 no Swap-free accounts incur commission charges. Daily overnight handling charge starting from 10 base units per night per lot depending on the currency traded.
AL Trade Islamic account. $200 200:1 yes There are no additional fees on swap-free accounts.
Alpha Trading CM Standard account. $1000 400:1 yes
AmigaFX Any account. $50 400:1 yes No roll over fees
Andromex Any account. $5 1000:1 yes
Apex FX Trading Any account. $500 100:1 yes No interest or rollover will be charged to customer working order at anytime.
Araxo4x Standard account. $100 400:1 yes No special conditions
ATG Marketplex Islamic account. $25000 50:1 yes (non-US accounts) No special conditions
Ava FX Islamic accounts. $100 200:1 yes Account is not charged with premiums and/or rollovers and/or interest.
Axiory Islamic account. $1000 300:1 yes Zero rollover interest, Zero interest, no commission on settlement for more than 24 hours, No additional fees or commissions charged at all.
BelforFx Islamic account. $100 400:1 yes No special conditions.
Citypoint Trading Any account. $1 300:1 no There are no other commission/substitution, the client simply pays the spread. All clients can have swap free accounts, however, we do not accept clients to simply use us to benefit from arbitrage (taking a short position and leaving it whilst holding a long position elsewhere) if clients do seek to simply do this we give the client the option to either change to a swap account or close their account.
Blackwell Global Islamic account. $2000 200:1 yes Islamic accounts are subject to holding fees.
BMFN Arab Islamic account. $200 200:1 yes Islamic clients only and with BMFN Arab.
BNFX Islamic account. $1000 100:1 yes Islamic countries residents and clients have preference in approval, .50 USD per .1 lot is charged. Monitor to avoid arbitrage profit.
Boston Prime Islamic account. $50000 200:1 yes
CFH Markets Any account. $50,000 100:1 yes Swap free accounts on request
City Credit Capital UK (CCC) Standard accounts. $2000 100:1 yes Accounts are monitored to avoid abuse.
CMS Forex Any account. $500 200:1 no If a interest free account is requested by a non Muslim client, there will be 5% margin on the account, which means 5,000USD for a standard 100k lot and 500USD for a mini 10k lot.
Deltastock Any account. $100 200:1 yes The Islamic Forex Trading Accounts are charged a service fee of: 0.10 EUR for each position of 1000 base currency units held overnight for the major currency pairs, and 0.25EUR for the rest.
Dealing24 Any account. $1000 200:1 yes No special conditions.
Divisa Capital Standard accounts. $2500 100:1 yes
Easy-Forex Islamic accounts. $25 200:1 (non-US), 50:1 (US) yes (non-US accounts) Offering accounts with spreads only, which adhere to the Islamic law (Sharia). The maximum duration offered for Day-Trading deals is limited (usually 1 week but it can also be shorter or longer depending on the currency pair traded).
eToro Standard accounts $50 400:1 (non-US), 50:1 (US) no During week days - no commissions or swaps. Commission is charged only on trades held over a weekend.
EXNESS Any account. $100 2000:1 yes Swap-free accounts are commission-free.
Exto Capital Islamic accounts. $500 400:1 yes Monitoring of scalpers and higher commissions for some trading styles.
FastBrokers Islamic accounts. $2500 200:1 yes (non-US accounts) Swaps and rollover fees will be waived. All other trading conditions are the same for your account type.
FBS Any account. $5 500:1 yes No additional charges.
FCMarket Islamic account. $500 500:1 yes Zero Overnight Interest (swap free) is for Positions left opened for less then 10 days will not be charged; however from the 11th day any position left opened will be charged commission, which is calculated according to the Swap rules.
FIBO Group Any account. $300 200:1 yes Positive swap will be abolished only. The negative swap will remain.
FIBO Group Holdings Any account. $300 200:1 yes No special conditions.
FinFX Any account. $100 200:1 yes On request for Micro account
Forex.com Islamic account. $500 50:1 no Traders are charged a flat rate of $2.50 per mini lot or $25 per standard lot when a position is held open after 5:00 pm EST.
Forex Club Any account. $200 50:1 no There is no SWAP, but, there is a roll over fee which is owed to keep a position opened.
Forex Control Islamic account. $500 500:1 yes Clients can open and close positions at any time within the forexcontrol Metatrader 4 system without being constrained to holding them for a defined period.
Forex-Metal Any account. $1 500:1 yes 1st type: No-swap account with gifts and donations: with very small credits (gifts) and debits (donations) which are apprx. equal to the swap amounts. No account cost.
2nd type: No-swap account without gifts and donations: no additional credits or debits, only spreads (the same spreads, no difference from the regular account). No account cost.
Forex4you Any account. $1 200:1 yes No special conditions.
ForexTrading Standard account. $1 500:1 yes No special conditions.
ForexYard Islamic accounts. $100 200:1 yes No swap, no commission, regular spreads.
Fortress Capital Standard account. $100 50:1 no No special conditions
Fortune4x Any account. $100 1000:1 yes No special conditions
FW Markets Standard account. $100 400:1 yes
FX Online Trading Islamic account. $200 500:1 yes
FXCENTRAL Islamic accounts $500 100:1 yes No special conditions.
FX Services Standard account. $2000 400:1 yes
FX Systems Standard accounts. $25,000 100:1 yes No commission.
FXcast Islamic accounts. $10 500:1 yes Fixed commission of 5 USD per 1 standard lot. No overnight swap will be added.
FXCBS Islamic account. $500 100:1 yes Islamic accounts are charged a flat rate of USD 10.00 per standard lot for overnight open positions.
FXCM Islamic accounts. $2000 50:1 no Micro accounts of $25 don't have the swap-free feature, only standard from $2000 do.
FXCM UK Islamic accounts. $2000 200:1 yes Micro accounts of $25 don't have the swap-free feature, only standard from $2000 do.
Standard account that converted to Islamic account, will have 0.5 pips added to the spread.
FXDD Islamic accounts. $250 200:1 (non-US), 50:1 (US) no, FXDD Malta - yes Islamic clients only and trading activities are monitored
FXDealer Any account. $250 400:1 yes Accounts opened on request.
Forex Global Market (FXGM) Any account. $200 50:1 yes FXGM will not apply swaps or rollover charges to such accounts in compliance of the Islamic Shariah Law.
Traders can hold the positions for unlimited time.
FxNet Islamic accounts. $5 500:1 yes No special conditions.
FXOpen Islamic accounts. $1 400:1 yes No special conditions.
FXFlat Standard accounts $2000 400:1 yes No special conditions.
FXOptimax Islamic accounts. $10 400:1 yes Swap-free islamic account are provided upon request.
FXPRIMUS Islamic accounts. $100 500:1 yes Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit.
FxPro Islamic accounts. $500 500:1 yes Instead of being charged an overnight (swap) fee, there will be a commission of USD 15 (fifteen) charged per lot traded as a handling fee; this commission is charged from the 2nd (second) day of a position remaining open.
FXTG (ForexTG) Islamic accounts. $1000 300:1 yes Continuous monitoring of accounts to avoid abuse.
FXVV Any account. $10 2000:1 yes No special conditions.
GAINSY Islamic account. $10 500:1 yes Swaps don't apply, no additional commissions are charged.
Gallant Capital Markets (GCMFX) Any account. $250 400:1 yes No special conditions.
GCIDealer Any account. $500 400:1 yes Traders can manage their accounts without pay or receive swap or daily interest on position held overnight.
GDMFX Islamic account. $100 500:1 yes
Gedamo Investments Any account $500 400:1 yes No interest will be charged or incurred on positions held overnight.
Grand Capital Islamic account. $500 500:1 yes Islamic Accounts are swap-free accounts, without commission for rollover.
GreenFX traders Any account. $500 400:1 yes
GTL Forex Any account. $500 400:1 yes No interest, rollover charges and swap charges are paid or charged for any account.
GO Markets Standard accounts $500 500:1 yes No special conditions.
Hantec Markets Islamic accounts. $1000 200:1 yes Clients can hold their positions for an undetermined period of time without incurring any interest or additional fees.
HotForex Islamic account. $150 400:1 yes The Micro Account is available as Swap Free for clients following the Muslim Faith. Flexible bonus.
HY Markets Islamic accounts. $50 300:1 yes Any open position in certain products will not be subject to overnight fees for the first 14 days after the position is placed in the market. If the position remains open after 14 days, normal overnight fees will start applying to that open position.
Iceberg Brokers Any account. €500 200:1 yes No special conditions.
IC Markets Any account. $1000 400:1 yes Spreads are slightly wider.
ICM - iTrade Capital Markets Any account. $500 400:1 yes All accounts with ICM are interest-free and Shariah compliant. There is only a roll charge on open positions of $1 per lot per day that the position is open.
ICM Capital Any account. $1 400:1 yes No special conditions.
IBFX Islamic accounts. $1 400:1 (non-US), 50:1 (US) no No-swap trades that remain open after Friday close will be debited or credited a fee based on the special rates.
IFC Markets Islamic accounts $1 400:1 yes Automatic closing of positions on the Islamic (SWAP free) accounts by the trade server will be executed in 14 days from the moment of opening every position.
iFOREX Any account. $100 400:1 yes No commission, no swaps. You must open/close positions at least once a month.
Automatic closing of positions on the Islamic Account (swap-free) by the trade server will be executed in 30 days from the day of opening every position.
IHI - Investment House International Any account. $500 400:1 yes Clients can have all interest charges or credits eliminated from their account in exchange for paying a 5$ commission per lot.
IKOFX Islamic accounts. $1 500:1 no No swap or rollover interest will be charged to positions held overnight to the account.
IKON GM Islamic account. $1000 50:1 no Available only upon request and evaluation of every client.
IKON Markets Standard account. $100 500:1 yes
InstaForex Any account. $1 1000:1 yes Unlimited time to carry the positions.
Investorseurope Islamic account. $250 400:1 yes No special conditions.
InvestTechFX Any account. $1000 500:1 yes Subject to overnight fee of $10/lot.
IronFX Islamic account. $500 500:1 yes As long as you meet the Company’s criteria (e.g. client of a Muslim faith), you may be eligible for a swap free account. Any position left opened for less than 10 days will not be given swap, however from the 11th day any position left open will be subject to a fee which is calculated according to swap rules as they appear on the Company’s Contract Specifications.
JFX Islamic accounts. $100 500:1 yes No special conditions.
Lider Forex Any account. $100 200:1 yes Micro accounts of $25 don't have the swap-free feature.
Liquid Markets Islamic account. $2000 500:1 yes Middle East residents only
Liquidex Islamic accounts. $200 100:1 no Swap-free accounts on request.
LiteForex Any account. $1 1000:1 yes Accounts opened on request.
Markets.com Islamic account. $100 200:1 yes No special conditions.
MasterForex Islamic account. $1 500:1 yes Instead of swap this account will feature a fixed small fee per standard lot, which is charged daily for positions that are held overnight.
MaxProCapital (MPCL) Islamic accounts. $100 100:1 yes No special conditions.
MAYZUS Islamic accounts. $25 500:1 yes only available to clients of Islamic faith.
MBCFX Islamic accounts. $1000 200:1 yes Micro accounts of $25 don't have the swap-free feature.
MFC Investment Islamic accounts. $1000 200:1 yes No special conditions.
MFFX Any account. $100 200:1 yes Swaps or roll over charges will not apply to such accounts. A small fee of $5 dollar per 100,000 is charge daily for positions held overnight. Traders can hold the positions for unlimited time.
MFN Group Any account. $5000 400:1 yes No special conditions.
MIG BANK Any account. $10 000 200:1 yes These accounts are monitored for negative Rollover position abuse. Any account solely placing negative Rollover positions will have this facility terminated.
Money Forex Islamic accounts $2000 200:1 yes A small fee of $5 dollar per 100,000 is charge daily for positions held overnight. Traders can hold the positions for unlimited time.
N2 Capital Markets Any account $2000 200:1 yes No special conditions.
Nova Tradex Islamic account. $100 1000:1 yes No special conditions.
OctaFX Any account. $5 500:1 yes No commissions. Accounts opened on request.
One Financial Markets Islamic account. $250 200:1 yes No special conditions.
PaxForex Islamic account. $10 500:1 yes No special conditions.
Persepolis Capital Management Islamic accounts. $500 500:1 yes No special conditions.
PFG FX Any account. $200 200:1 yes No special conditions.
PipFixed Standard account $100 400:1 yes No commission.
Profiforex Standard account $1 500:1 yes No special conditions.
Real Trade Group Islamic account. $20 500:1 yes Fixed commission of 5 cents per 0.01 lot, $1 per 0.1 lot.
RFXT - Royal Forex Trading Islamic accounts. $500 400:1 yes Trade with no swap charges and with no other additional charges, spread or hidden fees.
RoboForex Any account. $10 500:1 yes All trading accounts opened at the RoboForex are Swap-Free accounts.
RobustFX Islamic accounts. $1000 500:1 yes No special conditions.
Sensus Capital Markets Islamic accounts. $2500 200:1 yes No special conditions.
Sisma Capital Islamic account. $100 100:1 yes
SkyFX Standard accounts $500 300:1 yes No special conditions.
Solidity Brokers Standard accounts $100 100:1 yes No special conditions.
SpediaFX Any account $750 100:1 yes No special conditions.
Strategem FX Islamic accounts $1000 100:1 yes Monitoring of accounts to avoid any abuse.
STRATO Markets Standard account. $300 400:1 yes Accounts opened on request.
Sunbird Islamic account. $100 100:1 yes Swap free accounts (Roll Over fee) with no extra charge or fee.
Swiss International Islamic account. $500 200:1 yes Islamic Trading only available to clients for religious reasons in the Middle East.
Synergy FX Islamic account. $500 500:1 yes Islamic accounts on request.
TFIFX Standard account. $50 500:1 yes No special conditions.
ThinkForex Islamic account. $250 400:1 yes Accounts opened on request. Monitoring of accounts to avoid any abuse.
TradeFort Any account. $1 1000:1 yes Pro accounts cannot be swap-free.
Trader's Way Islamic account. $1 1000:1 yes No special conditions.
Traders Pulse Islamic account. $50 500:1 yes No special conditions.
Traders Trust Islamic account. $100 500:1 yes Islamic accounts (swap free) are offered to clients of the Muslim faith. Providing a valid ID can be presented showing your faith. No overnight interested (swap) will be charged in this account.
TradersChoiceFX Islamic accounts. $250 50:1 no GAINCAPITAL: Traders are charged a flat rate of $2.50 per mini lot or $25 per standard lot when a position is held open after 5:00 pm EST. FXDD: Islamic clients only and trading activities are monitored. FXCM: Micro accounts of $25 don't have the swap-free feature.
Tradenext Standard accounts. $1 200:1 yes
Tradeview Standard accounts. $100 400:1 yes
TradingForex.com Islamic accounts. $200 200:1 yes Charged from day one the amount of 5USD per lot per day for storage fees.
UFXMarkets Islamic accounts $500 200:1 yes Continuos monitoring of accounts to avoid abuse. Commodities and indices allowed.
Universal FX Islamic accounts. $2000 100:1 yes No special conditons.
UpFX Any account. $250 500:1 yes Optional, on request.
UPME Group Any account. $10 1000:1 yes -
VTLFOREX Islamic accounts. $2000 100:1 yes No commissions.
WFX Markets Standard accounts. $10 1000:1 yes No special conditions
Windsor Brokers Any account. $250 400:1 yes Available for to Mini and Standard accounts. You may keep your position open for up to Five days, as of the sixth day fixed charges shall apply on daily basis until the position is closed.
Varengold Bank FX Islamic accounts. $1000 200:1 yes Halal accounts for clients from Islamic countries.
X-Trade Brokers Islamic accounts. $2000 100:1 yes Commission free accounts. No swap. Widened spread on the FX market by only 1 pip. Regular spread for all other instruments. 10 USD daily charge per lot for every transaction held through the weekend.
XForex Islamic accounts. $100 200:1 yes Accounts opened on request and are subject to approval.
XEMarkets Islamic account. $5 888:1 yes No interest/swap, no up-front commissions, no time constraints, no spread widening.
XenonFx Standard account. $25 400:1 yes
YouTradeFX Islamic accounts. $100 500:1 yes No special conditons.



Benefits of rollover free trading

For certain currency pairs depending on the market position taken rollover can either be negative (means you have to pay) or positive (means you get paid). With rollover/swap free Forex accounts trader don't pay anything nor they get paid for holding positions past 17:00pm (ask your broker about the Time zone they use) when rollover is calculated.

Forex currency trading Accounts that receive no rollover/no swap can be a good option for traders who employ long term trading strategies, starting from holding trades longer than a day and up to a month or so, and who don't want to pay rollover fees.

Rollover/swap free Forex accounts are perfect for carry trade and hedging strategies where traders look to profit from holding currencies which earn positive rollover (with a broker that applies rollover/swaps) and at the same time look to offset any trading risks by hedging the same currency pair with another broker which applies no rollover fees, but instead charges a small commission.

And finally, here is a method of trading currencies with rollover-free Forex brokers:
Hedging strategy with 2 brokers using rollover-free account

What is a Forex Islamic account?

Under Sharia Islamic law, making money from money, such as receiving interest, is not permitted.
Wealth should be generated only through legitimate trade and investment in assets.

Basic principles of finance in Islam state that:
- giving or receiving an interest is not allowed;
- money cannot be traded for money, instead, money can be used to buy goods or services, which then can be sold for a profit.

In order to meet needs of Muslim traders Forex brokers offer Islamic accounts with strict compliance with Shariah Law:
the interest payment on the account balance is waived. Instead traders are charged a small daily service fee for positions held overnight. Alternatively there could be special conditions on spreads, where traders pay one pip higher spread on all currency pairs.

Forex Islamic accounts offer a halal (permissible) investment opportunity that involves zero riba (interest). Forex is a spot currency market which makes it halal. Forex is no different from the traveler changing money on the spot when he enters a foreign country.

An approximate list of countries whose residents can apply for Swap-free trading accounts:

Afghanistan, Albania, Algeria,
Bahrein, Bangladesh, Brunei
Comoro Islands
Djibouti
Egypt
Indonesia, Iran, Iraq
Jordan
Kuwait
Libya
Malaysia, Maldives, Mauritania, Morocco
Niger, Nigeria
Oman
Pakistan, Palestine
Qatar
Saudi Arabia, Somalia, Sudan, Syria
Tunisia, Turkey
UAE
Western Sahara
Yemen

Acceptance rules may vary from broker to broker.

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Do you know another Forex broker that has rollover(swap) free trading accounts?
Please suggest by adding a comment below.



Broker discussion area

trader

January 7, 2009

Oanda is rollover free broker also


BrokerGuru

January 8, 2009

Thank you! We'll review and add them.


BrokerGuru

January 9, 2009

As we have learned, OANDA has introduced a new concept of rollover-free trading: OANDA calculates interest rates continuously, by the second, over the entire 24-hour day. This cancels the need for traders to close positions unnecessarily with daily interest just to avoid the interest ramifications of the end-of-day rollover swap.
Read more about the swap-free trading with OANDA.


Scott

February 26, 2009

BrokerGuru, again I don't know how to thank you. When all else is failing I come back to this site and most of my questions are answered. Thank you again, sir.

Scott


Scott

February 27, 2009

Hey BrokerGuru,
Can anyone not Islamic get a swap free account. The EA for me strictly requires a Swap free account. How would they know if you are Islamic or not by the way? Thank you, I am in need dire need of a swap free account. Is that an absolute rule or can other non Islamic people qualify?

Scott


BrokerGuru

February 27, 2009

Hi Scott,

Thank you :)
Some brokers have strict rules about opening swap free accounts to Muslim traders only, while others offer swap-free (still known as Islamic) accounts to anyone. You just have to ask them what rules they have.

I'm working on completing this page, here is a temporary solution as to how to read the information in the table above where it says "Swap free account Special conditions":
Islamic accounts - means that brokers offer swap-free accounts to Muslims only.
Any account - means that brokers offer swap-free accounts to all traders.
Standard account - I believe it is also for every trader, but again, you'd better check it out. The page isn't finished, there could be exceptions, conditions and other rules for every individual case.
Good luck!


Scott

February 27, 2009

Brokerguru,
When are the swap rates calculated? From 17:00 ET to when? When are we free from swap rates for non-islamic accounts.

Scott


BrokerGuru

February 28, 2009

Hi Scott,

Swaps are normally charged at 17:00pm (time zone can be different). So if you have a position open at 17:00, it is a subject for a swap. You may not see the swaps right after 17:00, but they will appear later.
At the same time Islamic accounts are charged a commission, which substitutes swaps.
In any case you should ask your broker at what time they calculates swaps/commissions, because it may differ sometimes.

To stay completely free from swaps, you'd need to close a position before 17:00pm and re-open it after 17:00pm.
To stay completely free from commissions, you'd need to do the same: close and open. Alternatively, you'd need to find a broker with a swap-free account who instead of charging a commission, simply rises spreads a bit (to about 1-2 pips higher than for a normal account).


trader

March 4, 2009

Forex-Metal broker also offers no-swap accounts. You might want to add them to your list.


BrokerGuru

March 5, 2009

Thank you!
Forex-Metal has been added.


trader

March 13, 2009

Deutsche Bank does not seem to be rollover-free.

http://www.dbfx.com/dbfx/pages/rollovers.jsp


BrokerGuru

March 13, 2009

I'll check. Thank you.



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