ZERO Markets offers Islamic accounts for clients looking to trade without having interest fees credited or debited. The Swap-Free option is available on our MT4 Platforms through our Islamic Standard and Islamic Raw accounts.
What is an Islamic Trading Account?
Commonly known as swap-free accounts, our Islamic account options are designed for muslim clients as they incur no swaps or interest charges on overnight positions. The account holder is instead charged an administration fee on positions which is deducted from the balance of the account.
The Islamic account offers the same tight spreads & fast execution experienced on our regular MT4 accounts, while being swap-free. Access to all of our trading account benefits such as fast execution, deep liquidy and cutting-edge trader tools are all still available.
In order to open an Islamic Forex Account, a client must first open a MetaTrader 4 Platform account and then request for it to be converted into an Islamic Account.
MetaTrader 4 Islamic Account
Trade on the world's most popular Forex trading platform.
Demo Islamic Account
Practice your trading today
Trade global market CFDs
Forex
Shares
Indices
Commodities
Account Options
The swap-free account option is available on both our Raw and Standard account types on the MT4 trading platforms.
An Islamic client can trade all the instruments available on the platforms.
Minimum commission applies for Share and ETF CFDs across all types of accounts.
Minimum Opening Balance
$100 AUD or equivalent
Spreads from 1.0 pip
maximum leverage 500:1
maximum leverage 30:1
Execution ECN-Pricing
Commission
$0*
(no fee)
Minimum Trade Size 0.01 Lot
EA’s Yes
Mobile App Yes
VPS Available Yes
*Commission for trading Share and ETF CFDs are variable, for more information click on Share CFD commissions and ETF CFD commissions.
Minimum Opening Balance
$100 AUD or equivalent
Spreads from 0.0 pip
maximum leverage 500:1
maximum leverage 30:1
Execution ECN-Pricing
Commission US $2.5* per 100,000
Minimum Trade Size 0.01 Lot
EA’s Yes
Mobile App Yes
VPS Available Yes
*Commission for trading Share and ETF CFDs are variable, for more information click on Share CFD commissions and ETF CFD commissions.
Start trading today
Open a MetaTrader 4.
Please send your request to make it an Islamic Trading account via email from your registered email address to [email protected].
Please include an official document showing confirmation of your faith (e.g a Proof of Faith document from your local mosque) if evidence is not already included visible in the ID document we have on record for you.
If you have any questions, please contact our customer support team here.
Currency Pairs
Please note there will be the following administration fees:
| Currency Pairs | Admin fee in USD per lot, per night |
| AUS200*, CHINA50*, FRA40*, GER30*, HK50*, JP225*, US100*, EURO50*, UK100* | $1 |
| AUDUSD*, EURUSD*, GBPUSD*, USDCAD*, USDCHF*, USDJPY*, NZDUSD*, XAGUSD*, XAUUSD* | $5* |
| AUDNZD, US500, LTCUSD | $2 |
| US30* | $3 |
| CADJPY, EURCHF, EURJPY, GBPCAD | $4 |
| AUDSGD, AUDCAD, USDSGD, CADCHF, CHFJPY, NZDSGD, EURDKK, EURGBP, NZDCAD, USDTHB, XAGAUD, USDCZK | $5 |
| BTCUSD, GBPJPY, XAUAUD | $6 |
| AUDJPY, EURCAD, GBPCHF, NZDJPY | $7 |
| AUDCHF, GBPSGD, EURSGD, GBPNZD, EURAUD, GBPAUD, NZDCHF, EURNZD | $8 |
| CHFSGD, EURSEK, GBPSEK, EURNOK, USDCNH, GBPPLN, USDSEK, USDPLN, EURPLN, GBPDKK, USDDKK, USDNOK, EURHUF, USDHUF, EURCZK | $10 |
| EURZAR, USDMXN, USDZAR, XBRUSD, XTIUSD, XPDUSD, XPTUSD | $20 |
| EURMXN, GBPMXN, USDRUB | $30 |
| EURTRY, GBPTRY, USDTRY | $70 |
| XNGUSD | $80 |
Please refer to our Account Terms in the Product Disclosure statement for the specific terms and conditions that relate to Islamic Accounts.
For the Symbols ending with ‘*’ in the table above , Islamic Accounts will not be charged the admin fee for the first ten nights of trading. If positions are held longer, the admin fee will be applicable from the eleventh night. Please note that Islamic account status will not apply on the pairs not listed above including certain exotic pairs and our Share CFDs and swaps will be charged/credited as a normal account. If you do not wish to receive any swap credit/charges on these symbols you should ensure that all open positions are closed before end of day 00:00 platform time. ZERO Markets reserves the right to update the administration charges from time to time, any amendments to the charges will be notified to clients via the ZERO Markets website. Islamic Accounts will not debit or credit swap charge or swap credits when holding positions overnight. Apart from these differences, Swap Free Accounts will have the same trading conditions and terms as a regular MetaTrader 4 Platform Account.
