Islamic (Swap-Free) Account
Get yourself a swap-free account that is compliant with the Sharia law.
The Islamic Account
in a Nutshell
Here at ALPHAMARKETZONE, our clients’ interests always come first. For this purpose, we continuously strive to facilitate our trading conditions to suit the various needs of clients throughout the world. With this in mind, we offer Islamic accounts that are compliant with the Sharia law.
Forex Islamic account is known as a swap-free account as there is no swap or rollover interest on overnight positions, which is against the Muslim faith. All Muslim clients can benefit from ALPHAMARKETZONE’s best trading conditions by opening any account with us – Classic or Raw – and converting it to an Islamic type.
Islamic accounts have the same trading conditions and terms as our regular trading account types, except that swaps* on trading instruments are not applicable. However, a handling charge applies for holding several trading instruments overnight. Please refer to the table below for details. Note that handling fees will be applied only to the mentioned instruments.
Our all-star Client Support team will process your request for an Islamic account status within 1 business day and you will receive an email confirmation once all is set up. All subsequent trading accounts opened by you at ALPHAMARKETZONE will be automatically classified as swap-free meaning there will be no need for contacting us again.
Example of Swap Charge Calculation:
Let’s assume you hold 1 lot of BTCUSD overnight at a market price of 66,200 USD:
(1 lot x 1 BTCUSD x (-10) x 66,200 x 1 night) / (360 x 100) = -18,40 USD
Handling Fees
Handling fees vary based on the number of consecutive days a position is held open, including
weekends. Refer to the table below for more details:
| Instruments | Handling fee ($ per lot) | Charge free days |
| AUDCHF | 5 | 6 |
| AUDJPY | 5 | 6 |
| CADCHF | 5 | 6 |
| CADJPY | 5 | 6 |
| CHFJPY | 5 | 6 |
| EURCHF | 5 | 6 |
| EURCZK | 5 | 3 |
| EURDKK | 5 | 3 |
| EURHKD | 5 | 3 |
| EURHUF | 10 | 3 |
| Instruments | Handling fee ($ per lot) | Charge free days |
| ALUMINIUM | 1 | 6 |
| BRENT | 0.04 | 3 |
| COCOA | 14 | 3 |
| COFFEE | 0.40 | 3 |
| COPPER | 1 | 6 |
| LEAD | 1 | 6 |
| NAT.GAS | 40 | 0 |
| NICKEL | 6 | 6 |
| SUGAR | 0.20 | 3 |
| WHEAT | 0.40 | 3 |
| Instruments | Handling fee ($ per lot) | Charge free days |
| All Stocks and ETFs | 0.01 | 3 |
| Instruments | Handling fee ($ per lot) | Charge free days |
| AFRICA40 | 1 | 6 |
| AUS200 | 1 | 6 |
| CHINA50 | 3 | 6 |
| DE40 | 3 | 6 |
| DXY | 0.1 | 6 |
| FRANCE40 | 2 | 6 |
| HK50 | 1 | 6 |
| ITALY40 | 5 | 6 |
| JP225 | 0.01 | 6 |
| NL25 | 0.1 | 6 |
| Instruments | Handling fee ($ per lot) | Charge free days |
| #EURBOBL | 0.02 | 6 |
| #EURBUND | 0.01 | 6 |
| #EURBUXL | 0.01 | 6 |
| #EURSCHA | 0.01 | 6 |
Example: A position on EURCZK is opened on Day 1. No fees apply for the first three nights following the opening of position. Daily charges will start on the fourth night at 00:00 and continue every night until the position is closed.
Exception: For the Classic Swap-Free account, handling fees apply from day 41 for the following instruments: XAUUSD, XAUEUR, XAGUSD, AUDJPY, CADJPY, CHFJPY, EURJPY, GBPJPY, NZDJPY, USDJPY, USDCHF, EURCHF, AUDCHF, CADCHF, GBPCHF, NZDCHF.
- The above charges are in USD and are converted automatically to the account’s base currency if this is different.
- The fees are fixed per 1 lot regardless of the type of position (long or short) and apply to MT4/MT5 swap-free accounts as a separate balance operation at 00:00 server time.
- Handling Fees are subject to change at any time, at ALPHAMARKETZONE’s discretion.
Benefit from EXCEPTIONAL Trading Conditions
- Available base currencies: USD, EUR, GBP, PLN
- Execution type: market execution
- Average execution speed: 0.20 seconds
- Margin Call / Stop-out: 100% / 50% (Retail Clients), 100% / 30% (Professional Clients)
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