IC Markets swap-free holding fees per lot per night, after the grace period.

IC Markets swap-free holding fees per lot per night, after the grace period.

Yes, IC Markets offers an Islamic account. IC calls it a swap-free account: an option on its Standard and Raw Spread accounts, on MetaTrader 4, MetaTrader 5 and cTrader, for clients who can't pay or earn interest because of their religious beliefs. Swap-free accounts don't pay or receive overnight swaps. Instead, positions held overnight are charged a flat holding fee per lot once a grace period of up to five days runs out.

That fee is the part most guides skip, and it decides whether the account suits you. For day traders who close before rollover it never applies. Swing traders who hold gold or indices for weeks will pay it, and on some instruments it is substantial.

Available onStandard and Raw Spread; MT4, MT5 and cTrader
SwapsNone paid or earned
Holding feeFlat US$ per lot per night, after the grace period
Grace periodUp to 5 grace days on most instruments
No grace periodOil (XTIUSD, XBRUSD) and natural gas (XNGUSD)
LeverageUp to 1:5000 (IC's global company)

How IC's swap-free account works

On an ordinary account, a position held past the daily rollover earns or pays a swap based on the interest-rate gap between the two currencies. A swap-free account has no swap at all. IC replaces it with a fixed holding fee in US dollars per lot, which is the same for long and short positions and never pays you anything.

Everything else stays the same: Standard spreads and Raw Spread commissions apply as normal, and you trade the same markets on the same platforms. IC's terms add that it can ask for extra documents before granting swap-free status.

The grace period, day by day

New positions can benefit from up to five grace days with no holding fee. Each overnight rollover a position stays open through uses one grace day, and triple-swap nights use three.

  • Forex, metals, bonds and commodities: Wednesday night is the triple night, so holding through Wednesday's rollover uses three grace days.
  • Energies and indices: Friday night is the triple night.
  • Oil and natural gas (XNGUSD, XTIUSD, XBRUSD): no grace period; holding fees apply from day one.
  • USDJPY and GBPJPY: fees apply from day three, after a two-day grace period.

In practice, a EUR/USD trade opened on Monday and closed on Thursday uses Monday night (1), Tuesday night (1) and Wednesday night (3): five grace days and no fee. Keep it open through Thursday night and the holding fee starts. IC also notes that fees can be charged for calendar days, including weekends, with weekend fees applied on the next business day.

IC Markets swap-free holding fees

IC publishes the full schedule on its swap-free page. These are a selection, in US dollars per lot per night, as listed in October 2026.

InstrumentHolding fee (US$ per lot)InstrumentHolding fee (US$ per lot)
EURUSD10XAUUSD (gold)67
GBPUSD7XAGUSD (silver)12
USDJPY11US3026
AUDUSD7USTEC14
USDCHF16UK1007
GBPJPY16XTIUSD (WTI oil)5
USDTRY105BTCUSD41.85

Rates and holding periods can change with market conditions, IC says, so check the live table before you hold anything for more than a few days.

Gold is the expensive one. At $67 per lot per night, a 1-lot XAUUSD position held for ten nights past its grace period would pay $670 in holding fees. Size swing trades on gold with that in mind.

How to get swap-free status at IC

IC's Help Centre says swap-free accounts are applied for "during the registration process only". If you didn't tick the swap-free option and want an existing account converted, IC asks you to email [email protected]. Read IC's swap-free terms and conditions first; IC asks you to confirm you have read and agree to them before applying.

Brokers handle Islamic accounts differently: some grant them automatically in certain countries, others charge no overnight fee at all for a set number of days. Our best Islamic forex brokers page compares the rules.

Is IC's swap-free account halal?

That is a question for a qualified scholar, not a broker or a review site. What we can set out are the facts a scholar would ask about. IC's account pays and charges no interest. It does charge a fixed holding fee for overnight positions, which is not linked to interest rates. Leverage is provided, and positions are CFDs, not ownership of the currency or metal.

Some traders are comfortable with that structure; others want accounts with no overnight charge of any kind or avoid leveraged CFDs entirely. If this matters to you, take these facts to someone whose judgement you trust.

FX Recap doesn't give religious rulings. This section describes how IC's account works so you can make your own decision.

What a swap-free trade costs over two weeks

The grace period makes short holds free and long holds expensive. Take a 1-lot EUR/USD position opened on a Monday. Monday and Tuesday nights use one grace day each, and Wednesday's triple night uses three, so the five grace days run out by Thursday morning. From Thursday night the $10 holding fee applies for every further night, and IC says weekend days can be charged too, added on the next business day.

Held for two full weeks, that position would run up well over $50 in holding fees, and on gold, at $67 a lot, the same fortnight would cost several hundred dollars. On an ordinary account the swap on the same trade could be smaller, larger or even a credit, depending on interest rates and your direction. Swap-free status removes interest; it doesn't make holding positions free, so compare the fee table with your usual holding period before you choose.

The label on an account matters less than its fee table. Before you hold a swap-free position overnight, look up that instrument's holding fee and grace days, then decide how long you really plan to stay in the trade.
Jowel RanaFact-Checker & QC, FX Recap
Illustrative case: Yusuf, 38, Dubai

Yusuf swing-trades EUR/USD and gold on an IC Raw Spread swap-free account. He noticed his EUR/USD trades, usually closed within four days, never paid a fee, while a two-week gold position cost him $67 a night on each lot after the grace days ran out. These days he closes or cuts gold swing trades before the grace period ends, and holds longer-term views on currency pairs where the fee is lower.

Frequently asked

Does IC Markets have an Islamic account?

Yes. IC offers swap-free status on its Standard and Raw Spread accounts, on MT4, MT5 and cTrader, for clients who can't pay or earn interest because of their religious beliefs.

Does IC Markets charge fees on swap-free accounts?

No swap is charged, but positions held overnight pay a flat holding fee per lot after a grace period of up to five days. For example, IC lists $10 per lot on EURUSD and $67 on gold. Oil and natural gas pay from day one.

How long is the IC swap-free grace period?

Up to five grace days. Each rollover uses one, and triple nights use three (Wednesday for forex and metals, Friday for energies and indices). USDJPY and GBPJPY have a two-day grace period, and oil and gas have none.

How do I open an IC Markets swap-free account?

Select the swap-free option during registration; IC says that is the only point at which you can apply. To convert an existing account, email [email protected]. IC may ask for additional documents before granting the status.

Is the IC Markets Islamic account available on cTrader?

Yes. IC's swap-free option covers MetaTrader 4, MetaTrader 5 and cTrader, on both the Standard and Raw Spread account types.

Is IC Markets swap-free account halal?

FX Recap can't make that judgement. IC's account charges no interest but does charge a fixed overnight holding fee, and trades are leveraged CFDs. Ask a qualified scholar to assess these facts for your situation.