Swap-free account services are targeted to traders who need to use trading systems which are in line to their religious beliefs. To be more specific the service is available only to clients of the Islamic belief which asks its followers not to profit from monetary interest.
“Swap Free” or “Islamic Accounts” offer trades of any currency pair, where in transiting the position over midnight the trader does not gain or lose any amount, regardless of the position volume. Even holding on the deal for an extended period of time. The trader can be sure that only the conduct of the exchange rate for the set time interval will affect the result of the deal.
It is important to note that clients cannot own mixed accounts, meaning regular and swap free at the same time, such a case is against our trading conditions and when discovered will mean immediate closure of both accounts.
In order to Open a Swap-free account, you have to comply by registering a normal account and completing the application kit. With regards to the rest of the trading conditions, all regular trading conditions apply.
All Swap-free applications must be sent to swapfree@uwcfx.com.
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