Swap-Free Accounts: Trade without swaps
Swap-Free Accounts: Trade without swaps
LiteFinance gives users access to financial markets and Tier-1 liquidity without swaps. Such accounts don't pay or charge swaps - a fee for carrying over a position to the next day.
Open Swap-Free accountBenefits of Swap-Free accounts at LiteFinance
- They respect the principles of Islam
- They do not pay/charge interest for carrying over positions
- They do not charge extra maintenance fees or increased spreads
- Trading terms aren't different from regular accounts
- No limits on trading strategies or advisors
- Any account types: CLASSIC or ECN accounts with raw spreads
Swap-Free accounts specifications
Order processing
ECN+STP model
Quotes
High-precision five-digit quotes
Spread
Floating, from 0 points
Available markets
Currency, Crypto, Commodities, Stocks, Indices
Swap-Free accounts comparison
SWAP-FREE ECN
Swap
No
Available markets
FX, Crypto, Stocks, Indices, Commodities
Execution model
NDD, ECN+STP
Platforms
MT4, MT5, LiteFinance, cTrader
Spread
floating, from 0 points
Account base currency
USD, EUR
Contract size (1 lot)
FX: $100000
Natural gas: 10000 MMBtu
Platinum: 50 oz
Palladium/Gold: 100 oz
Silver: 5000 oz
Oil: 10 barrels
Shares: 1 share
Indices: 1 contract
Fixed commissions per lot
Yes
Leverage
1:1 - 1:1000
Execution type
MARKET EXECUTION
Minimum deposit
$50
Recommended average deposit
$5000
% per annum on surplus funds
no
Maximum number of orders
300
Margin Call Level
100%
Stop Out Level
20%
Client funds segregation
Yes
SWAP-FREE CLASSIC
Swap
No
Available markets
FX, Crypto, Stocks, Indices, Commodities
Execution model
NDD, STP
Platforms
MT4, MT5, LiteFinance
Spread
floating, from 0,02 points
Account base currency
USD, EUR
Contract size (1 lot)
FX: $100000
Natural gas: 10000 MMBtu
Platinum: 50 oz
Palladium/Gold: 100 oz
Silver: 5000 oz
Oil: 10 barrels
Shares: 1 share
Indices: 1 contract
Fixed commissions per lot
No
Leverage
1:1 - 1:1000
Execution type
MARKET EXECUTION
Minimum deposit
$50
Recommended average deposit
$2000
% per annum on surplus funds
no
Maximum number of orders
300
Margin Call Level
100%
Stop Out Level
20%
Client funds segregation
Yes
How to open a Swap-Free trading account?
If you aren't a client at LiteFinance, register fast and easy. Enter your country, phone number, email, password, and first account currency. Then, accept the Client Agreement terms. Click on "Register."
Set the real trading mode in the upper right corner next to your profile picture. After that, go to the "METATRADER" section on the left dashboard. In the section that opens, you can change the leverage size, as well as the currency of an open trading account. In addition, in the section you can open new Islamic trading accounts of any type.
Go to the PROFILE section and click on the "Verification" tab. Then, apply for an Islamic account. Your application will be examined within one business day, and your accounts will be switched to "Swap-Free." Once your application is approved, all the accounts you open will be Swap-Free.
Go to the FINANCE tab, choose a payment method, and top up your trading account. The account will be funded within a few minutes, except for deposits via a bank transfer. A deposit by bank transfer can take up to 3 business days, depending on the bank's open hours.
What is Swap-Free islamic account in forex?
A swap-free account is a trading account with no swap fees, meaning no commission for holding open positions overnight. Typically, in the financial markets, swaps arise from interest rate differences between currency pairs tied to holding trades longer than a day. Swap-free accounts eliminate this, making trading costs more predictable. Originally, these accounts were created for Muslim traders, as Islam prohibits receiving or paying interest. LiteFinance offers swap-free accounts to non-Muslim clients under its loyalty program at its discretion.
Swap-Free Account Terms
Swap-free accounts are automatically opened for clients in the following countries: Afghanistan, Algeria, Bangladesh, Egypt, Indonesia, Iran. Residents of these countries do not need to apply for a Swap-Free account.
For other traders, Swap-Free accounts are provided only after filling out an application in the Client Profile.
Swap-free accounts are unavailable for clients in the following countries: China, Hong Kong SAR China, Japan, Laos, Mongolia, Myanmar (Burma), South Korea, Taiwan, Thailand, Vietnam.
Please note that the company has the right to refuse to provide Swap-Free accounts at its sole discretion, as a swap is a commission for transferring open positions to the next day. Please read the Swap-Free Accounts Terms of Use.
Benefits of trading in swap-free accounts at LiteFinance
More than 20 years in the market
Our cutting-edge technological solutions and understanding of traders' needs, combined with the best conditions, have allowed us to make online trading convenient and profitable for any client.
Independent trading ecosystem
Trader blog with educational materials, built-in trading signals, and analytics for a wide range of trading instruments, trader chats, and Internet channels providing useful information on financial markets – all of these on the same platform.
Copy-trading system
Attach your trading account to professional traders to copy their positions automatically. A pro trader's positions will be automatically copied into your account. You can choose your trader using our rating and based on their risk and profitability levels.
Best trading conditions
Tight spreads, Tier-1 liquidity, and a fair ECN+STP processing model without fees and with no dealer intervention. We provide an easy-to-use web platform with built-in indicators and a technical analysis toolkit.
Prompt and beneficial deposits and withdrawals
Variety of payment methods: Visa or MasterCard, all popular e-payment systems, and local bank transfers. Automatic money withdrawals and deposit fee refunds.
Client funds segregation
LiteFinance segregates clients' funds from the company's, holding them in separate AA accounts. That ensures maximum safety.
Available trading platforms
LiteFinance Web Platform
The most user-friendly and technologically advanced platform with over a million traders.
OpenTools for successful trading
FAQs on Swap-Free accounts
What is a swap in trading?
A Forex swap is money a broker pays or charges for carrying a trading position over to the next day. A swap amount depends on the difference between the interest rates of the banks issuing the two currencies of the traded currency pair. Swaps can be positive and negative. Swaps are positive when the interest rate of the currency bought is higher than the interest rate of the currency sold.
What is a swap-free account in Forex?
A swap-free account is a trading account type that does not involve swaps for carrying positions over to the next day. At the same time, it grants the same advantages as other account types, CLASSIC or ECN.
Is trading allowed in Islam?
Online trading is allowed if it respects the principles of Islam. Islamic accounts at LiteFinance correspond to these principles: they do not pay or charge interest/swaps for carrying over a position. They also provide the best trading conditions.
Is Forex trading halal?
Forex trading is halal if it respects the fundamentals of Islam. LiteFinance's Islamic accounts allow traders to trade in the financial markets in harmony with the Sharia.
Is Forex trading haram in Islam?
Forex trading is haram if a trader receives or pays interest. To respect the Sharia law, Islamic accounts have been developed. They do not pay or charge swaps.
Is it haram to do trading?
Trading is considered haram if a trader receives interest, acts dishonestly, or makes a profit during the Friday prayer. But, if you trade in an Islamic account that doesn't pay or charge swaps, that's not haram as you observe the Sharia principles.
Is gold trading halal in Islam?
Gold trading, like any commodity trading, is halal as long as you trade for cash. Transaction delays are prohibited in Islam, so trades in Islamic accounts are conducted instantly.
Is investing money Haram?
The laws of Sharia permit investments, but they must comply with some requirements. Islam prohibits investing in derived financial instruments with no immediate delivery. Traders are allowed to buy stocks of companies that don't violate the Sharia. Special stock indices have been developed for the Muslims to correspond to the Sharia rules, such as S&P 500 Shariah Index and Dow Jones Islamic Market Index.
Is intraday trading halal in Islam?
Yes, it is. Islam doesn't forbid intraday trading. However, there's one important condition: you must use a swap-free account. LiteFinance provides Islamic accounts without swaps and with instant execution.
