Islamic (Swap-Free) Account
Get yourself a swap-free account that is compliant with the Sharia law.
The Islamic Account
in a Nutshell
Here at Tickmill, our clients’ interests always come first. For this purpose, we continuously strive to facilitate our trading conditions to suit the various needs of clients throughout the world. With this in mind, we offer Islamic accounts that are compliant with the Sharia law.
Forex Islamic account is known as a swap-free account as there is no swap or rollover interest on overnight positions, which is against the Muslim faith. All Muslim clients can benefit from Tickmill’s best trading conditions by opening any account with us – Classic, Pro or VIP – and converting it to an Islamic type.
Islamic accounts have exactly the same trading conditions and terms as our regular trading account types. The only difference is that there are no swaps on trading instruments, however, a handling charge applies for holding several trading instruments overnight for more than three consecutive nights.
Our all-star Client Support team will process your request for an Islamic account status within 1 business day and you will receive an email confirmation once all is set up. All subsequent trading accounts opened by you at Tickmill will be automatically classified as swap-free meaning there will be no need for contacting us again.
Overnight Charges
When a position is held open for more than three consecutive trading days (including weekends), an Islamic account is subject to the following daily charges on the following instruments:
| Instruments |
| EURCZK |
| EURDKK |
| EURHKD |
| EURHUF |
| EURMXN |
| EURNOK |
| EURPLN |
| EURSEK |
| EURSGD |
| EURTRY |
| EURZAR |
| GBPCZK |
| GBPDKK |
| GBPHKD |
| GBPHUF |
| GBPNOK |
| GBPPLN |
| GBPSEK |
| GBPTRY |
| GBPZAR |
| NZDSGD |
| USDCZK |
| USDCNH |
| USDDKK |
| USDHKD |
| USDHUF |
| USDMXN |
| USDNOK |
| USDPLN |
| USDSEK |
| USDSGD |
| USDTRY |
| USDZAR |
| BRENT |
| WTI (XTIUSD) |
| Stocks |
| NAT.GAS |
| Charge per lot |
| $5 |
| $5 |
| $5 |
| $10 |
| $20 |
| $10 |
| $10 |
| $10 |
| $10 |
| $75 |
| $20 |
| $5 |
| $10 |
| $5 |
| $10 |
| $10 |
| $10 |
| $10 |
| $75 |
| $20 |
| $10 |
| $5 |
| $10 |
| $10 |
| $5 |
| $10 |
| $20 |
| $10 |
| $10 |
| $5 |
| $10 |
| $75 |
| $20 |
| $0.04 |
| $0.04 |
| $0.01 |
| $60 |
Example: A position on EURCZK is opened on Day 1. No fees apply for the first three nights following the opening of position. Daily charges will start on the fourth night at 00:00 and continue every night until the position is closed.
Exception: For USDTRY, GBPTRY, EURTRY, and NAT.GAS positions, overnight charges apply from Day 1 of holding a position open and not from Day 3.
- Day 0 Position opened
- Day 1 No Charge (1st night)
- Day 2 No Charge (2nd night)
- Day 3 No Charge (3rd night)
- Day 4 Charge 5 USD (per lot) at 00:00 (4th night)
- The above charges are in USD and are converted automatically to the account’s base currency if this is different.
- The fees are fixed per 1 lot regardless of the type of position (long or short) and apply to MT4/MT5 swap-free accounts as a separate balance operation at 00:00 server time.
Benefit from EXCEPTIONAL Trading Conditions
- Available base currencies: USD, EUR, GBP
- Execution model: NDD
- Execution type: market execution
- Average execution speed: 0.20 seconds
- Margin Call / Stop-out: 100% / 30%
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