Islamic Account

SquaredFinancial offers SwapFree trading accounts to clients who cannot use Swaps due to their religious beliefs. Forex Islamic accounts, also known as swap-free accounts, imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

Islamic accounts have exactly the same trading conditions and terms as our regular trading account types. The Swap Free option is available on both SquaredPro and SquaredElite account type on the MT4 platform.

How to open an Islamic Account

The swap-free account can be chosen as part of the trading account registration in 3 easy steps:

1. Register

1. Register

Register for a SquaredFinancial Account

2. Verify

2. Verify

Verify your email address

3. Request

3. Request

Request an Islamic Account from your Client Portal

SquaredFinancial will process your Islamic Account request within 1 business day and you will receive an email confirmation indicating that everything has been set up. Please note that SquaredFinancial reserves the right to revoke the swap-free status provided to any real trading account in the event of any abuse.

Benefits of a Squared Islamic Account

No Interest on contracts that last more than 24 hours

No Interest on contracts that last more than 24 hours

No hidden costs

No hidden costs

Leverage up to 1:500

Leverage up to 1:500

Squared does not take any additional rollover commissions for a contract longer than 24 hours

Squared does not take any additional rollover commissions for a contract longer than 24 hours

24/5 proactive customer supports

24/5 proactive customer supports

Islamic (Swap-Free) 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 exotic currency pairs overnight for more than three consecutive nights.

Before you apply for a swap-free account make sure that you have read, understood and comply with our Terms & Conditions for the Islamic Account (section 20)

Range of selected products

Choose from 6 different asset classes and 8000+ trading instruments

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of our retail investor accounts lose money when trading CFDs