What is a swap-free account and are there hidden fees?
I want an account without overnight interest. Do brokers charge something else instead?
For education only. This is not financial advice. Trading carries a high risk of loss.
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1 Answer
Best answer
A swap-free (Islamic) account does not charge or pay overnight swap interest on positions held past the rollover time. Some brokers replace it with a small administration or holding fee after a number of days, or with wider spreads on some symbols.
Terms differ by broker, so read the conditions on the account page and ask support for the exact fee table. Also confirm that you are allowed to use it in your country and check its limits, for example on how long a position can be held.
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