Forex Brokers without Swap

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: March 14, 2025

‹
• Jump to:
• Main Features
• What Are Swap Fees?
• What Is a Swap-Free Forex Account?
• Pros of a Swap-Free Broker
• Cons of a Swap-Free Brokers
• Who Can Benefit from Swap-Free Accounts?
• Things to Consider
• Popular Forex Brokers Offering Swap-Free Accounts
• How to Open a Swap-Free Account
• Comparing Swap-Free Accounts with Standard Accounts
• Common Misconceptions
• Final Thoughts
›

Forex trading comes up with several costs. These small costs add up to significantly impact the overall profitability. One often overlooked cost is the swap fee which is charged for holding a position overnight. Muslim traders strictly prefer swap-free accounts due to their religious beliefs. Luckily, some brokers offer swap-free accounts for Muslims and other traders as well. Let’s dig deeper into swaps, what they are, the benefits and costs of swap-free accounts, and some common myths about these accounts.

1. 

   Fusion Markets

   Rating: 4.5

   74-89% of retail's CFD accounts lose money

2. 

   FP Markets

   Rating: 4.8

   73.85% of retail investor accounts lose money

3. 

   Pepperstone

   Rating: 4.5

   75.5% of retail investor accounts lose money

4. 

   Plus500

   Rating: 4

   82% of retail investor accounts lose money

5. 

   AvaTrade

   Rating: 4.4

   76% of retail investor accounts lose money

6. 

   eToro

   Rating: 4.1

   51% of retail investor accounts lose money

7. 

   IC Markets

   Rating: 4.8

   70.64% of retail investor accounts lose money when trading CFDs with this provider.

8. 

   XTB

   Rating: 3.7

   80% of retail investor accounts lose money

9. 

   Vantage FX

   Rating: 3.9

10. 

    HFM

    Rating: 4.5

Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.

Main Features of the Best Forex Brokers with Swap Free Accounts

What Are Swap Fees?

Swap fees are often called rollover fees as well. It’s a fee applied to a position that you hold overnight. The swap fee keeps adding on a daily basis for as long as you the position. Swap is based on the interest rate differential. For example, if you trade a GBPUSD pair. The swap fee is based on the difference between the interest rates of the Bank of England and the FOMC.

What Is a Swap-Free Forex Account?

A swap-free account does not apply any swap fee, making it suitable for traders who want to avoid rollover fees. These accounts are also referred to as Islamic accounts specifically designed to comply with Shariah which restricts earning or paying interest.

However, some brokers offer swap-free accounts to everyone to cater for the needs of long-term traders who may keep their positions open for several days or weeks.

Pros of a Swap-Free Broker

• There’s no overnight cost that ultimately impacts your profits.
• Swing or position trading can be done without a hassle.
• Compliant with religious principles, making it a suitable choice.

Cons of a Swap-Free Brokers

• When you avoid swap fees, you lose a chance to earn swaps as well.
• Some brokers charge admin fees as an alternative to the swaps.

Who Can Benefit from Swap-Free Accounts?

Swap free account is suitable for you if you are a:

Trading on the higher timeframes requires holding a position for several days until your profit or loss target is met. The swap-free account gives you the freedom to hold the position for as long as you can.

Muslim traders can avoid conflict with their beliefs by picking a swap-free account for their trading.

Some traders open positions just before the close of the day. Hence, a swap is applied to them and due to higher volume, they may pay the swap more. Hence, swap-free accounts suit them too.

Things to Consider Before Choosing a Swap-Free Broker

It’s great that some brokers offer swap-free accounts. However, that alone is not enough. You should consider other factors as well.

1. Regulation

   You should always find the regulations of a broker before signing up. Unregulated or loosely regulated brokers pose a risk to your trading.

2. Documentation

   Though most brokers allow swap-free accounts instantly, some may require complex documentation like attested documents to prove you are a Muslim.

3. Hidden Charges

   While going specifically for a swap-free account, you should ask the broker about the duration of swap swap-free account and other charges if applied. Some brokers slightly increase their spreads for the Islamic accounts. Some call it an admin fee and apply it as an alternative to the swaps. Some provide swap-free for a week, a month or even three months but then suddenly start charging the fee.

Popular Forex Brokers Offering Swap-Free Accounts

Here are some popular Forex brokers that are highly regulated and offer you swap-free accounts as well.

It is a highly regulated broker that offers swap-free accounts along with cutting-edge technology to give you a smooth trading experience.

Another highly regulated broker offering swap-free accounts gives you a cool dashboard with plenty of useful analytics and calculators.

Highly regulated broker that provides valuable tools for the traders as well. It gives swap-free options on both standard and raw spread accounts.

How to Open a Swap-Free Account

Opening a swap-free account is simple. Follow the process:

• Sign up for a broker that offers swap-free accounts.
• Verify your account by completing the KYC process.
• From the dashboard, go to the Account tab and select swap-free or Islamic account.
• Provide additional documents as proof of faith if required.

Comparing Swap-Free Accounts with Standard Accounts

Here’s a brief comparison of both accounts to further clarify what exactly you need.

Common Misconceptions About Swap-Free Accounts

Some of the well-known misconceptions about these accounts are:

1. No Fee

   Swap free account does not mean that the broker will not charge anything at all. Broker will slightly raise your spread and in some cases may charge an alternative fee for holding the position for more than a week or so.

2. Eligibility

   While these accounts are designed for Muslim traders, usually all the traders are eligible for these accounts now.

Final Thoughts

Forex brokers with swap-free accounts open up opportunities for Muslim traders and long-term position holders as well. Eliminating the rollover fees can positively impact your profitability. However, beware of alternative fees that some brokers charge. Choose a broker that is regulated and conducts operations with transparency.