Swap-Free / Islamic account

The Swap-Free or Islamic trading account is tailored to traders who, due to religious beliefs, are unable to earn or pay interest.

Islamic accounts are not subject to swap fees on forex (major and minor pairs) or precious metal trading symbols. However, please note that all other instruments are subject to swap fees.

Please note that Axi does not allow clients to hold a Standard and/or Pro account at the same time as a Swap-Free account. If you have an existing account and wish to open a Swap-Free account, the current account must be closed before a Swap-Free account can be opened. If you need to close an account, please ensure all open trade positions have been closed first, then contact our Client Services team and we can help with the account opening process.

IMPORTANT: Once you have been approved for a Swap-Free/Islamic account, you will be issued with a Trading Notice outlining details of the interest free nature and general conditions of the account. Please be aware that Axi reserves the right to monitor an interest-free account to ensure it is being used in good faith and for the purposes intended, and that we will contact you directly if we suspect any irregularities.

How do I open an Islamic account?

The Swap-Free account can be selected during the normal account application process.

Fees and Charges

Islamic accounts are not subject to swap fees on forex (major and minor pairs) or precious metal trading symbols. However, please note that all other instruments are subject to swap fees.

From the 15th of April, there will be a new Holding Fee imposed on ALL swap-free eligible symbols that are held open beyond a 5 calendar day grace period. For more information please refer to the article Fee revision in Swap Free Accounts.