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Swap-Free (Islamic) Accounts, Explained
2:56 · 7 chapters · Forex lessons, part 106
What you'll learn
Swap-free accounts remove overnight interest, but many brokers add an admin fee per lot per night. Here's what to check first.
Go further with our written guide on this topic, browse all the free Learn Forex lessons, or check today's market in our forex news.
- Key point 1
- What the overnight swap is and why a swap-free account removes it
- Key point 2
- What stays the same: spread, commission, market risk and leverage
- Key point 3
- Why day traders who close every night don't need one
- Key point 4
- How an admin fee after a grace period can cost more than the swap
- Key point 5
- Four things to check before opening a swap-free account
Rules and limits from regulators and official sources; every price, account and chart in the video is an example. Education, not financial advice.
More forex lessons
The video is presented by an animated host with a computer-generated voice; the research and checks are by the FX Recap team. Risk warning: forex and CFD trading carries a high risk of losing money because of leverage, and most retail accounts lose money. This is education and review, not financial advice. FX Recap may earn a commission from some broker links; see our affiliate disclosure.