Best Swap-Free Brokers regardless of religions – Forex, Cryptocurrency, Gold and more

What is the Swap Point?

“Swap Points” are the funds that get written-off or credited to the trader’s account when transferring the position to the next day.

Normally, the calculation of swaps takes place on 23:59 server time. At the same time from Wednesday to Thursday swap is charged (credited) threefold.

An important feature of the swap is that it is calculated as a certain number of points to the value of one point in a position.

Since for some currency pairs pip value is variable, it means that calculating it accurately for the future is not possible, so in the Forex Contract Specification swaps are specified in points (not currency).

Thus, the calculation of the swap for the position is as follows: А) To calculate the swap before the start of a new day, the server calculates the pip value for the position, such as «sell USD/JPY 0.20 lots».

The cost of the lot is equal to = Lot * 100 000 * The dimension of the point / rate USD/JPY rate (at the time of the swap accrual) = 0.20 * 100 000 * 0.01 / 87.43 = 2,2875 USD. B) Swap for a sell transaction on USD/JPY will be, for example -0.11 points, therefore, there will be a write-off equal to -0.11 * 2,2875 USD = -0.2516 USD, that is -0.25 USD.

In addition, please note that from Wednesday to Thursday swaps are credited or charged threefold.

Trade Forex and CFDs with no Swap Points

Swap Point is almost never a good thing when it comes to trading Forex and CFDs.

As a trader, you would like to avoid swap points as much as possible.

In this article, we introduce some of the licensed Forex brokers that offer swap-free trading condition to traders.

These brokers offer swap-free conditions for all traders regardless of traders’ religions.

In fact, these accounts are not called “Islamic Swap-Free” but just “Swap Free” accounts because everyone can open the account with no extra commissions or fees.

Check out the ranking of Forex brokers that offer swap-free trading today.

1. Exness – Crypto, Gold, Stock and Indices

With Exness, you can trade XAUUSD (Gold), Indices, Cryptocurrencies, and Stocks with absolutely no swap cost.

This means that you can hold positions (buy and sell) for as long as you want with no swap cost on these instruments.

Exness’s swap-free condition is available for all traders.

To benefit from the condition, you need to open Pro, Raw Spread, Zero, Standard Cent, or Standard account.

Exness currently provides two types of swap-free trading accounts; those offered to Islamic regions and those offered to non-Islamic countries, though there are specific differences to consider when understanding these swap-free accounts for non-Islamic countries.

If a trader with a Standard Swap-free trading account has had trading activity that qualifies for Extended Swap-free, this will be done immediately and without opting from the client.

Likewise, if an Extended Swap-free trading account’s activity drops, the trader’s area swap-free status will change to Standard Swap-free without opting.

exness How to change from one swap-free level to another

Open Exness’s Swap-Free Account

2. Vantage – Forex, Stocks, Commodities and Indices

With Vantage, you can trade 40+ Currency pairs, 13 Indices, 20 Commodities and 100 Share CFDs with no swap cost.

Vantage accounts are tailor-made for Forex traders who are unable to receive or pay swaps due to religious bliefs.

Both Vantage’s Swap-free Standard STP and RAW ECN accounts allow all traders to capitalize on Vantages institutional grade liquidity that are streamed from the largest institutions, straight to MT4.

Vantage calculates all administration fees exactly at 00:00 platform time on all open positions for all Swap-free accounts. The administration fee is then applied at 1:00am platform time.

Open a Swap Free account with Vantage

3. XM – Cryptocurrencies

With XM, you can trade a number of Cryptocurrency pairs with no swap points.

Cryptocurrency trading on XM is available for 24 hours a day and 7 days a week.

They were introduced to their platform as a completely Zero Swap Product.

The available Cryptocurrencies on XM’s platforms are:

AAVEUSD
ADAUSD
ALGOUSD
AVAXUSD
AXSUSD
BATUSD
BCHUSD
BTCEUR
BTCGBP
BTCUSD
COMPUSD
ENJUSD
ETHEUR
ETHGBP
ETHUSD
FETUSD
GRTUSD
LINKUSD
LTCUSD
MATICUSD
OMGUSD
SKLUSD
SNXUSD
SOLUSD
STORJUSD
SUSHIUSD
UMAUSD
UNIUSD
XLMUSD
XRPUSD
ZRXUSD

With XM, you can trade all of the above Cryptocurrencies with up to 1:250 leverage.

You can go short/long according to market moves without worrying about swap-points.

You can take advantage of the tight spreads and the execution with no re-quotes too.

Open a Swap-Free account with XM

4. SuperForex – Forex, Stocks, Commodities and Indices

SuperForex’s ECN Swap-free account allows you to avoid paying swaps on orders open overnight, which is ideal for long-term trades or traders whose religion prohibits them from profiting on interest.

This type of account is ideal for anyone who would like to eliminate swaps from their trading strategy.

The swap-free account is also perfect for traders from religious backgrounds (especially Muslim), as the conditions agree with religious practices by not charging interest rates.

You can open SuperForex’s swap-free account with the USD, EUR, or GBP base currencies.

Along with the swap-free condition, you can also benefit from various bonuses such as Welcome Bonus, Energy Bonus, Hot Bonus, and Dynamic Bonus.

The available maximum leverage is 1:1000.

Open a Swap-Free account with SuperForex

5. XTB – Forex, Commodities, Indices, Stock, and ETFs

XTB offers a swap-free trading account in which you can trade more than 2000 financial instruments including Forex, Commodities, Indices, Stock CFDs, and ETF CFDs.

Note that in XTB’s swap-free account, you cannot trade Cryptocurrency pairs.

It is not only swap-free but also trading commission free.

The only cost you need to pay when trading in this account is only the “spread cost” which varies depending on the market you trade.

The spread is as low as 0.7 pips.

The maximum leverage available for XTB’s swap-free account is 1:500.

Open a Swap-Free account with XTB

6. PUPrime – Gold

For a limited time only, PU Prime is removing all swap fees on XAUUSD (Gold) so you can hold your positions overnight at no cost.

To get this swap-free condition, you need to contact your account manager directly or consult with customer service.

This offer is available for both new and existing clients.

Open Standard or Islamic Standard Accounts on MT4/MT5 and get the swap-free condition today!

Make your capital further when trading XAUUSD with PU Prime!

Open a Swap-free account with PUPrime

7. Yadix – Forex and CFDs

With Islamic forex trading accounts, no roll-over interest will be charged or incurred to positions held overnight, as in compliance with the Islamic Shariah Law.

In case of Yadix MT4, swap charges will be reviewed each Friday, and if deemed excessive, a storage fee (based on professional swap rates) will be deducted from the swap-free account.

To ensure that the fees are not excessive, clients are advised to manage open orders and to keep in mind that triple swaps are charged overnight on Wednesdays.

Yadix offers its clients the opportunity to open an Islamic account without any restrictions on USD as a base currency or leverage offered.