Islamic Account (Swap-Free) - Forex Glossary | ForexCracked
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Islamic Account (Swap-Free)

Also called: swap-free account

An account that charges no swap interest — compliant with Sharia law's prohibition on riba (interest).

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Definition

Islamic accounts replace swap with a small per-night admin fee on positions held past rollover (after a free grace period). Most reputable brokers offer them to Muslim traders on request.