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Thread: Free SWAP Account

  1. #1
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    Free SWAP Account

    SWAP, which is the differential of rates of the two currencies, received and paid, and which takes place every evening, also called rollover, is not taken into account on a free SWAP account.
    What is the main advantage of this type of forex accounts?

  2. #2
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    Re: Free SWAP Account

    swap-free accounts which are also known as Islamic accounts permit clients of the Islamic religion to hold a forex trading account without being charged swap fees (roll over fees), in observance with Islamic religious principles which prohibit the payment or receipt of interest. :good2: these accounts can also be useful to non-Islamic traders, who simply wish to do away with the uncertainty in overnight interest, who plan on taking a longer term negative swap position, or other reasons. :good:
    ...have the courage to follow your heart and intuition. They somehow already know what you truly want to become.
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  3. #3
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    Re: Free SWAP Account

    The main point of SWAP free accounts is that the order passes night without any gains or losses of any amount. It works the same in case the positions is held for some time, the result of the trade depends on the exchange rate only.
    You can pretend to be serious; you can't pretend to be witty

  4. #4
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    Re: Free SWAP Account

    right you are, Elsie Cross! swap-free forex accounts don't charge or pay any interest on positions held over night! it is very convenient!
    Your life does not get better by chance, it gets better by change.

  5. #5
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    Re: Free SWAP Account

    Quote Originally Posted by vanbibber
    swap-free accounts which are also known as Islamic accounts permit clients of the Islamic religion to hold a forex trading account without being charged swap fees (roll over fees), in observance with Islamic religious principles which prohibit the payment or receipt of interest. :good2: these accounts can also be useful to non-Islamic traders, who simply wish to do away with the uncertainty in overnight interest, who plan on taking a longer term negative swap position, or other reasons. :good:
    I agree with you, it is Islamic accounts

  6. #6
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    Re: Free SWAP Account

    it's true that the free swap account are Islamic accounts, but it does not prevent non-Muslim trader to use them!

  7. #7
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    Re: Free SWAP Account

    Swap-free accounts must not include any additional fees, as it happens often when swap charge is substituted by another charges, but in order not to violate Islamic religion trader cannot pay an interest even if it is covered by different type of fee.
    Forgive your enemies, but never forget their names

  8. #8

    Re: Free SWAP Account

    @lisa: If in making trading account, what advantage does not choose the option swap rates. why brokers make it to the Muslim traders?

  9. #9
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    Re: Free SWAP Account

    it seems we are not a how to do this trade with the swap or not because some Muslims also use it in their trade as well so no problem for most Muslims

  10. #10
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    Re: Free SWAP Account

    It is really a great facility to us Muslim traders that we can trade without any problem and can hold our position over night without being charged. As interest paying or receiving is haram for us in Islam.
    Lets hope for the best.

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