Swap-Free Account

Swap-free accounts (also known as Islamic accounts) eliminate overnight holding charges (swap/rollover). These accounts were originally designed to comply with Islamic finance principles that prohibit interest charges, but they're used by traders worldwide who want to avoid swap costs.

For swing or positional traders who hold trades for several days, swaps can accumulate and significantly reduce profits, especially on pairs with high interest rate differentials. When evaluating prop firms with swap-free accounts, verify if it applies to all instruments or only some, if there's an administrative fee as an alternative to swap, and if there are limitations on the maximum time you can hold a position open in swap-free mode.