XS, a leading global multi-asset broker, now offers swap-free trading accounts designed to meet the diverse needs of traders worldwide. These accounts eliminate swap or rollover fees, ensuring that clients can hold positions overnight without incurring interest charges.
Understanding Swap-Free Trading Accounts
A swap-free trading account, often referred to as an Islamic or Shariah-compliant account, caters to traders who, due to religious beliefs, cannot engage in transactions involving interest. In standard trading, a swap is the interest paid or received for holding a position overnight, calculated based on the differential interest rates of the traded currencies. XS’s swap-free accounts remove these interest components, allowing for ethical and compliant trading.
XS’s Swap-Free Account Offerings
XS provides two main categories of swap-free accounts:
Normal Swap-Free Accounts (Islamic Accounts): Automatically available to clients residing in Islamic countries, including the United Arab Emirates, Saudi Arabia, and Egypt, among others.
Special Swap-Free Accounts: Offered to clients in select non-Islamic countries, either automatically or upon request. Eligibility for this program can be confirmed with an XS account manager.
Unlike many brokers who may widen spreads or impose additional fees such as handling or administration charges, XS maintains transparent and fair trading conditions with no extra costs on swap-free accounts. The trading conditions and terms remain consistent with regular accounts, with the sole distinction being the absence of swaps during the designated swap-free grace period, which varies by instrument.
Key Features of XS’s Swap-Free Accounts
Platform Availability: The swap-free option is accessible across all account types on both the MetaTrader 4 and MetaTrader 5 trading platforms.
Uniform Status: Once an account is designated as swap-free, all associated trading accounts and account types under the client’s profile will also benefit from swap-free status.
No Additional Charges: XS does not replace swaps with widened spreads or additional fees, ensuring a transparent and equitable trading environment.
Swap-Free Grace Period
The swap-free grace period varies depending on the asset class and specific instruments. For example:
FX Majors (e.g., EURUSD, GBPUSD): 5 days
Gold (e.g., XAUUSD): 2 days
Cryptocurrencies: 2 days
Detailed information on the grace periods for various instruments is available on the XS website.
Important Considerations
Traders are encouraged to review and understand the swap-free related terms and conditions, as well as the XS General Terms and Conditions, before engaging in trading activities. The number of days in the grace period varies depending on the instruments traded, and XS reserves the right to amend these periods as necessary. Clients are responsible for monitoring the respective terms on the company’s website.
XS also reserves the right to cancel swap-free trading or retrospectively charge the waived swap fees in cases of suspected abuse, such as activities aimed at generating riskless profit by exploiting the company’s trading conditions.
About XS
XS is a trusted global broker offering a wide range of trading instruments, including shares, indices, metals, commodities, forex, energy, futures, and cryptocurrencies. With multiple regulations and an award-winning service, XS provides advanced trading platforms, multiple account types, and premium trading conditions to clients worldwide.
Take the Next Step
Join XS today to experience the benefits of swap-free accounts and elevate your trading journey. For more information and to determine your eligibility, please contact an XS account manager.
