Fusion Markets Islamic Account: Swap-Free Rules and the 7-Day Admin Fee

Fusion Markets has a swap-free account for traders whose religious beliefs prevent them from paying or receiving overnight interest. No swap is charged or credited. Positions closed within seven days carry no extra cost at all. Once a trade has been open for longer than that, an admin charge applies, once per seven-day period, at a fixed dollar amount per lot.

Spreads are wider than on the standard accounts. The minimum EUR/USD spread is 1.4 pips, against 0.9 on Classic, and no commission is charged. More than 50 instruments are covered, from major currency pairs to indices, and the account runs on MetaTrader 4 and MetaTrader 5.

Admin fees by instrument

These figures are from Fusion's swap-free page, which shows more instruments behind a Show more button. Fees are quoted per standard lot, so a 0.10 lot position pays a tenth and a 0.01 lot position a hundredth. The charge lands at 00:00 server time, which Fusion says is 17:00 in New York.

How the 7-day rule works

Days are counted from the moment the position opens. Nothing is charged through the first seven days. After that, one admin fee is taken for each seven-day block. Fusion gives its own example: a trade closed 13 days after it was opened pays the charge once, not twice.

Day traders and short swing traders will rarely pay anything. Position traders should do the sums first. Three weeks in a one-lot USD/JPY trade costs $300 in admin fees, and that has to be earned back before the trade shows a profit.

Is it halal?

Fusion describes the account as designed for traders with religious beliefs that prevent them from paying or receiving overnight swaps. It removes the interest element. Whether a fixed admin fee, leveraged CFDs or margin trading are acceptable is a question scholars answer differently, and the broker doesn't publish a fatwa or a Shariah board ruling on the pages we read.

We are not qualified to give a religious ruling. Ask a scholar you trust and show them how the fee works. For that conversation, the useful facts are these: no interest is paid or received, the fee is fixed per lot and not tied to an interest rate, and it applies only after seven days.

Rules that can end the account

• You can't mix account kinds. A client holds only swap-free accounts or only swap-charged ones.
• Fusion may convert an account to swap-charged if it believes the swap-free status is being exploited.
• Exotic currency pairs and other products with high swap costs may not be offered.
• Countries that Fusion cannot serve for regulatory reasons are excluded, as with every account.

The second rule is aimed at carry trading, where someone holds a high-interest position for weeks purely to avoid the swap. If you trade normally and close positions in days, it should never affect you. Ask support in writing if you are unsure whether a strategy is allowed.

Swap-free against Classic and Zero

On one lot of EUR/USD, a 1.4-pip spread costs about $14 to open and close. Classic costs about $9 and Zero under $5. That extra $5 to $9 per lot is the price of removing swaps, and you pay it whether you hold for five minutes or five days.

How to get a swap-free account

1. Open and verify a standard Fusion account. Our account opening guide covers the documents.
2. Contact your account manager, use live chat, or email [email protected].
3. Ask for a swap-free account and confirm you understand it replaces any swap-charged accounts.
4. Wait for confirmation, then choose MT4 or MT5 and a base currency.
5. Check the first overnight rollover to confirm no swap appears.

You can't select swap-free from the normal account menu; it is set up on request. Deposits work the same way as for other accounts, with most methods starting at 10 USD. See the minimum deposit guide for the list.

What stays the same

Leverage, margin rules and funding work as they do on the standard accounts. International clients can use up to 500:1 on forex and metals, a margin call arrives at 90% and stop out at 20%. Expert advisors, hedging and scalping are permitted. Deposits and withdrawals are free at Fusion's end, and no minimum balance applies.

Negative balance protection also carries over for clients of the Vanuatu and Seychelles companies, apart from the excluded countries listed in our regulation guide. Swap-free status doesn't remove risk: a swap-free position can be stopped out like any other.

Who the account suits

• Day traders who close everything before the rollover and want certainty that no interest is involved.
• Short-term swing traders whose positions usually last two to six days.
• Anyone trading the major pairs, gold or the big indices, which are on the swap-free product list.

It suits others less well. Position traders who hold for a month pay the admin fee three or four times. Traders of exotic pairs may find their market missing. People who want cTrader or TradingView are out of luck, because swap-free runs on MetaTrader only.

How to work out your own cost

Take your normal lot size and holding time and price a month of trades. Someone placing twenty 0.10 lot EUR/USD trades, all closed inside a week, pays about $1.40 in spread on each, or $28 in total, and no admin fee. On Classic the same month costs about $18 before swaps. If the difference of $10 buys compliance with your beliefs, the account is doing its job.

Frequently asked

Related reading

• Fusion Markets account types
• Fusion Markets fees
• Fusion Markets account opening
• Fusion Markets leverage
• Our full Fusion Markets review