Swap-Free Accounts

For traders whose religious beliefs prohibit the use of interest rates in trading, xChief offers a specialized account known as the Islamic Account or Swap-Free Account. This account type is designed to comply with Islamic finance principles, ensuring that no interest (swap) is charged or received on overnight positions.

Key Features of Swap-Free Accounts https://www.xchief.com/trading-conditions/swap-free/

No Swaps: The primary feature of these accounts is the absence of swap charges, which are typically calculated based on the interest rates of national central banks. Eligibility: Swap-free accounts are available only to Muslim clients from countries where Islam is the state or predominant religion.

Account Types: The swap-free option is available for specific account types, including Classic+, DirectFX, and xPRIME.

Trading Instruments: Swap-free conditions apply to Forex and Metals trading. For other instruments, standard swap calculations are applied.

Restrictions: It is prohibited to use trading strategies aimed at profiting from interest rate differences (carry trade). Violations can lead to the revocation of swap-free status and the application of standard swaps.