How do Swap free account work?
In most cases, swaps are charged in Forex trading to keep the positions open overnight. While trading Forex with a swap-free account, you can still keep the positions open overnight. However, instead of a typical swap, some brokers charge a commission.
Receiving or paying any type of interest is prohibited by the Sharia law of the Quran. The reason for this prohibition comes from the belief that real Muslims should only give for the safe of giving, but not for taking something back.
Traders should keep in mind that in some cases, the number of swap-free accounts offered by the broker is limited. Because of this, the majority of brokers encourage traders to only use this account because of their religious beliefs.
RM Investment Bank offers - Islamic swap free account https://www.rmib.com/vn/investments/invest/swap-free/ This type of account is specially created for Muslim clients who are not allowed to invest in swaps due to Sharia law .
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