Swap Free Account Trading Conditions
Clients following the Muslim faith can open a forex & CFD trading account without any rollover interests on overnight positions (=swap interests). The reason for the Islamic Account is to avoid the need for paying and receiving interest which is prohibited in Islam.
How to open a Swap Free Account
– Open a GCMAsia trading account on your desktop, mobile, or tablet
– Complete the full registration process (and send us your supporting ID documents)
– Send an email to [email protected] with a request for Swap Free Account
Spreads on Swap-Free Groups will be wider by 4 pips on specific instruments compared to the default spreads.
The affected symbols are:
| AUDNZD | USDDKK | EURPLN | EURPLN |
| EURDKK | USDTRY | EURSEK | USDILS |
| EURNZD | GBPTRY | EURZAR | USDNOK |
| GBPAUD | EURNOK | GBPSGD | USDSEK |
| GBPCAD | EURHUF | EURTRY | USDPLN |
| GBPNZD | EURILS | USDHUF | USDZAR |
The weekly fees under the swap-free policy for the following instruments are:
| INSTRUMENT | Long Swap-Free Policy Charge per Lot (in points) | Short Swap-Free Policy Charge per Lot (in points) |
| Crude Oil | -84.35 | 0 |
| Natural Gas | -3.15 | 0 |
| Brent Oil | -9.52 | 0 |
| Heating Oil | -31.64 | 0 |
| Gasoline | -31.64 | 0 |
| Soybean | -128 | -111 |
| Wheat | -60 | -52 |
| Platinum | -11 | -6 |
| Palladium | -217 | 0 |
| Copper | -42.21 | 0 |
| Sugar #11 | -2.31 | 0 |
| Cotton #2 | -8.96 | 0 |
| Corn | -64 | -55 |
| USA 500 | -474.67 | 0 |
| USA 100 | -1371.23 | 0 |
| USA 30 | -36.89 | 0 |
| USA 2000 | -210.98 | 0 |
| Germany 30 | -158.2 | 0 |
| UK 100 | -84.35 | 0 |
| France 40 | -79.1 | 0 |
| Italy 40 | -291.13 | 0 |
| Spain 35 | -9.8 | 0 |
| Switzerland 20 | -116.06 | 0 |
| Dollar Index | -105.49 | 0 |
| Hong Kong 50 | -22.12 | 0 |
| Australia 200 | -115.08 | 0 |
| China 50 | -20 | -18 |
| Japan 225 | -11 | -11 |
| Euro 50 | -4.55 | 0 |
| Netherlands 25 | -84.35 | 0 |
| Canada 60 | -126.56 | 0 |
| GAUTRY | -8,400 | 0 |
| GOLDTRY | -17,500 | 0 |
| TRYBASK | -15,400 | 0 |
| USDRUB | -11,000 | 0 |
| USDTRY | -14,000 | 0 |
| EURTRY | -16,800 | 0 |
| GBPTRY | -21,000 | 0 |
| ZAR pairs | -2,800 | 0 |
| HUF pairs | -50 | -50 |
| MXN pairs | -2,800 | 0 |
| AUD pairs | 8 pips | 0 |
| Shares | 18% annually | 17% annually |
Please note:
- If a system abuse is detected – GCMAsia reserves the right to cancel the Islamic account with immediate effect, and close any open trades at its discretion
- The standard lot size is defined in the trading conditions
- The charge is made for swap-free clients only every Thursday, for all open positions held at 21:00 GMT night between Wednesday and Thursday
- Closed positions that were left open during the times mentioned above, will be charged pro-rata for each lot
If you need any further information on the markup charges and how they apply to Swap Free Accounts, please contact your account manager or send us an email. We will try our best to assist you in your trading.