Exness provides swap-free accounts for non-Islamic countries, though there are specific differences to consider when understanding these swap-free accounts.
- Account types applicable for this feature
- Levels of swap-free accounts
- How to change one swap-free level to another
- Points to remember
Account types applicable for this feature
Levels of swap-free accounts
There are 2 levels of swap-free trading accounts - Standard Swap-free and Extended Swap-free. We now offer Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
Standard Swap-free
Under the Standard Swap-free program, clients will have no swap charged for holding positions open overnight for the following instruments:
XAUUSD (Gold), Indices, Cryptocurrencies, and Stocks
Note that swap will still be charged for all other instruments where applicable.
Extended Swap-free
For clients under the Extended Swap-free program, we have a wide range of instruments which are free of swap charges. The instruments are:
AUDNZD, AUDUSD, EURCHF, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, USOIL, AUDCHF, AUDJPY, EURAUD, EURCAD, EURGBP, EURJPY, EURNZD, GBPCHF, GBPNZD, NZDJPY, NZDCAD, including XAUUSD (Gold), Indices, Cryptocurrencies, and Stocks.
Note that swap will be charged for all other instruments where applicable.
How to change one swap-free level to another
If a trader with a Standard Swap-free trading account has had trading activity qualifying it for Extended Swap-free, this will be done without opting and immediately.
Likewise, if an Extended Swap-free trading account’s activity drops, swap-free status will change to Standard Swap-free without opting.
Check your Personal Area, under Settings, for the Swap-free level tab for more information about your swap-free status. Note that this tab will only be visible for Personal Areas registered in non-Islamic countries.
Points to remember
Here are a few key points to keep in mind when using our swap-free program:
- Trading behaviour of clients is analyzed using an algorithm to make sure the swap-free program is being used correctly.
- To keep the extended swap-free status active, it is recommended to trade mostly within the day and have a low number of overnight positions.
- Trading history is monitored for the following instruments only - AUDNZD, AUDUSD, EURCHF, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, USOIL, AUDCHF, AUDJPY, EURAUD, EURCAD, EURGBP, EURJPY, EURNZD, GBPCHF, GBPNZD, NZDJPY, and NZDCAD.
- On swap-free status being changed to Standard, a notification about the change will be visible in the client’s Personal Area.
For more information on swap, refer to the linked article.