Top 10 Best Swap-Free Forex Brokers for 2019

by | May 11, 2019

Are you looking for the best swap free broker because you want to avoid being charged for holding a position for longer than a day or more?

We can help you.

Firstly, as you probably know, plenty of brokers charge traders swap fees to hold a position overnight, which can be quite expensive. While there are plenty of brokers out there who do not have swap fees, you should look into how long these positions will not be charged for.

After a certain period, e.g. five days, the broker may start charging you for that position. On top of that, some brokers may only offer such accounts to traders who follow the Muslim faith.

Don’t just look for a broker without swap fees, look for a reputable broker that fits in with your trading style.

best forex brokers swap free

Top 10 Best Swap Free Brokers Of 2019

Here’s our ranking:

  • Regulations: ASIC
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.8/5


74-89 % of retail CFD accounts lose money

1. IC Markets

For those who want to avoid swap fees, IC Markets’ tailormade Islamic Account is the best option available today. Aside from dropping swap fees, IC Markets’ Islamic Account is available for both MT4 and MT5 users, offers over 90 instruments, and allows leverage of up to 1:500. Perhaps the best feature though is the account’s ECN access, which is provided by an intricate web of market participants that ranges from high-level banks to darkpools.

  • Regulations: International Capital Markets Pty Ltd. licensed by ASIC (AFSL no. 335692). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: $ 200
  • Platforms: MT4, MT5, MT WebTrader, MT iPhone/iPad, MT Android, MT Mac, cTrader, cTrader Web, cTrader Android, cTrader iPhone/iPad, cTrader cAlgo
  • Headquarters: International Capital Markets Pty Ltd. is headquartered in Sydney, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, futures, bonds, cryptocurrency
Try IC MARKETS with a demo account

74-89 % of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader,cAlgo
  • InvestinGoal rank: 4.8/5


78% of retail CFD accounts lose money

2. Pepperstone

Pepperstone’s Swap-Free Account is incredibly popular and comes with several great features. Straight through processing (STP) is used to place market orders and Pepperstone are very liberal when it comes to implementing different trading styles, such as scalping or hedging for example, and no commissions are charged. Pepperstone is also widely regarded as one of the best brokers in the world in recent years.

  • Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, Market Maker
  • Leverage: 1:500
  • Minimum Deposit: $ 200
  • Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
  • Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, cryptocurrency
Try PEPPERSTONE with a demo account

78% of retail CFD accounts lose money

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • IG rank: 4.5/5


79% of retail CFD accounts lose money

3. FxPro

FxPro is one of the most technologically advanced brokers available to trade with today and so signing up for their Swap-Free Account is highly beneficial. To apply for their Swap-Free Account, traders must send an email to FxPro’s back office. Traders should bear in mind though that after a specified number of days, commissions may be charged on specific instruments.

  • Regulations: FxPro UK Limited authorised & regulated by the FCA (509956); FxPro Global Markets MENA Limited authorised & regulated by the DFSA (F003333); FxPro Financial Services Ltd authorised & regulated by CySEC (078/07) and the FSCA (45052); FxPro Global Markets Ltd authorised & regulated by the SCB (SIA-F184). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Agency
  • Leverage: 1:500
  • Minimum Deposit: $100, however, clients under the DFSA will need to deposit $500
  • Platforms: MT4, MT5, cTrader, FxPro Edge (web platform)
  • Headquarters: FxPro Group Limited is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on futures, indices, shares, metals, energies; spread betting
Try FXPRO with a demo account

79% of retail CFD accounts lose money

  • Regulations: ASIC, CySEC, FCA
  • Minimum deposit: $5
  • Platforms: MT4, MT5
  • InvestinGoal rank: 4/5


69.75% of retail CFD accounts lose money

4. XM

XM’s Islamic Account can easily be requested after opening a trading account and validating it. XM’s Islamic Account is also free of any kind of commissions, offers leverage up to 1:30, and positions can be held for as long as a trader wants without limit. Trading conditions are also no different to a standard trading account and the account can be used with any platform.

  • Regulations: Trading Point of Financial Instruments Pty Limited licensed by ASIC (443670); Trading Point of Financial Instruments UK Limited authorised & regulated by the FCA (705428); Trading Point Of Financial Instruments Ltd regulated by CySEC (120/10). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:500
  • Minimum Deposit: $ 5
  • Platforms: MT4 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet), MT5 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet)
  • Headquarters: Trading Point Of Financial Instruments Ltd is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, metals, and energies
Try XM with a demo account

69.75% of retail CFD accounts lose money

  • Regulations: IFSC, CySEC
  • Minimum deposit: $1
  • Platforms: MT4, MT5
  • InvestinGoal rank: 3.9/5


74-89% of retail CFD accounts lose money

5. FBS

With FBS, Swap-Free Accounts are only available to traders who reside in a country where one of the official or dominating religions is Islam and can easily be changed. With FBS it should be mentioned that some positions that have been open for longer than two days may incur a fee, however, this depends if the position is open to buy or sell.

  • Regulations: Tradestone Limited authorized & regulated by the by CySEC (331/17); FBS Markets Inc. regulated by IFSC (IFSC/60/230/TS/18). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:3000
  • Minimum Deposit: $ 1
  • Platforms: MT4 (for Windows, iOS, Android and/or webtrader)
  • Headquarters: FBS Markets Inc. is headquartered in Belmopan, Belize
  • US Customers: No
  • Other instruments: Futures; CFDs on precious metals, oil, cryptocurrency
Try FBS.COM with a demo account

74-89% of retail CFD accounts lose money

  • Regulations: CySEC, FCA, IFSC
  • Minimum deposit: $5
  • Platforms: MT4, MT5
  • InvestinGoal rank: 3.9/5


90% of retail CFD accounts lose money

6. FXTM

Swap-Free Accounts can be requested for any FXTM account type, except MT5 accounts, by contacting FXTM’s customer services directly. FXTM also promise that if you sign up for a Swap-Free Account, any fees that were charged to your deposit will be reimbursed. Traders should be aware that some exotic pairs may not be exempt from swap fees.

  • Regulations: ForexTime Limited regulated by CySEC (185/12), licensed by the FSCA (FSP No. 46614), and registered by the FCA (600475); ForexTime UK Limited authorised & regulated by the FCA (777911); FT Global Limited regulated by the IFSC (license numbers IFSC/60/345/TS and IFSC/60/345/APM). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:1000
  • Minimum Deposit: $ 5, £5, € 5
  • Platforms: MT4 (PC, Mac, iOS, Android, multi terminal, web platform), MT5 (PC, Mac, iOS, Android, web platform), MyFXTM (Android, iOS)
  • Headquarters: ForexTime Limited is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on shares, commodities, indices; spot metals
Try FOREX TIME with a demo account

90% of retail CFD accounts lose money

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.5/5


71% of retail CFD accounts lose money

7. AvaTrade

By opening an Islamic Account with AvaTrade, oil, indices and forex instruments can be traded without incurring interest. However, before signing up for an Islamic Account with AvaTrade, traders should bear in mind that they will not have access to cryptocurrency trading, certain exotic forex pairs will not be available, and Islamic accounts are subjected to an increase spread on forex pairs.

  • Regulations: AVA Trade EU Ltd regulated by the Central Bank of Ireland (No.C53877); AVA Trade Ltd regulated by the B.V.I Financial Services Commission; Ava Capital Markets Australia Pty Ltd regulated by ASIC (No.406684); Ava Capital Markets Pty regulated by the South African Financial Sector Conduct Authority (FSCA No.45984); Ava Trade Japan K.K. regulated by the FSA (No.1662) and the FFAJ (No.1574). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:30
  • Minimum Deposit: AUD $ 100, USD $ 100, £ 100, or € 100
  • Platforms: AvaTradeGo (mobile app), MT4, Mac Trading (specifically for Macs), Webtrader
  • Headquarters: AVA Trade EU Ltd is headquartered in Dublin, Republic of Ireland
  • US Customers: No
  • Other instruments: CFDs on indices, stocks, cryptocurrencies, commodities, options, ETFs
Try AVA TRADE with a demo account

71% of retail CFD accounts lose money

  • Regulations: CySEC, FSC, FSB
  • Minimum deposit: $50
  • Platforms: MT4
  • InvestinGoal rank: 3.9/5


72.21% of retail CFD accounts lose money

8. HotForex

Islamic Accounts with HotForex are only available to traders of the Muslim faith and offer them one of the best Islamic Accounts available today. With HotForex no instruments are restricted, and traders can choose to use MT4, web trader, or mobile trading. Micro, Zero and Premium accounts are all available to be turned into Islamic Accounts.

  • Regulations: HF Markets (Europe) Ltd regulated by CySEC (183/12); HF Markets (UK) Ltd authorised &regulated by the FCA (801701); HF Markets (DIFC) Ltd authorised & regulated by the DFSA (F004885); HF Markets SA (PTY) Ltd authorized & regulated by the FSCA (46632); HF Markets (Seychelles) Ltd regulated by the FSA (SD015). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:1000
  • Minimum Deposit: $ 5
  • Platforms: HF Markets MT4 Terminal, HF Markets Multiterminal, MetaTrader 4 Webterminal, HF Markets iPhone Trader, HF Markets iPad Trader, HF Markets Android
  • Headquarters: HF Markets Ltd is headquartered in Cyber City, Mauritius
  • US Customers: No
  • Other instruments: CFDs on spot metals, energies, commodities, indices, bonds, shares, cryptocurrency
Try HOT FOREX with a demo account

72.21% of retail CFD accounts lose money

  • Regulations: ASIC, CySEC
  • Minimum deposit: $100
  • Platforms: Proprietary, Mobile, MT4
  • InvestinGoal rank: 3.6/5


81% of retail CFD accounts lose money

9. easyMarkets

With easyMarkets’ Islamic Account swap fees are only charged on cryptocurrency and positions can be held for up to two weeks before any interest is charged. Opening an Islamic Account is very easy and can be done by emailing easyMarkets’ customer service  after opening a trading account with them.

  • Regulations: Easy Forex Trading Ltd authorised & regulated by CySEC (079/07); easyMarkets Pty Ltd licensed by ASIC (246566). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:400
  • Minimum Deposit: $ 100
  • Platforms: Proprietary, Mobile, MT4
  • Headquarters: Easy Forex Trading Ltd is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on commodities, indices, cryptocurrency
Try EASYMARKETS with a demo account

81% of retail CFD accounts lose money

  • Regulations: FCA, UAE, SFC
  • Minimum deposit: £200
  • Platforms: MT4, Orex Platform
  • InvestinGoal rank: 4.2/5


74-89% of retail CFD accounts lose money

10. ADS Securities

ADS Securities’ Swap-Free accounts are available to both Orex and MT4 traders, however, during certain times of the day swap fees may be incurred and traders should ensure they are aware of when this might happen. The best features include no minimum frequency of trades and no increase on minimum deposit requirements or limits on deposits.

  • Regulations: ADS Securities London Limited authorised & regulated by the FCA (577453); ADS Securities L.L.C. registered with the Department of Economic Development of Abu Dhabi (1190047); ADS Securities Hong Kong Limited registered with the SFC (CE# AXC847). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker, ECN
  • Leverage: 1:500
  • Minimum Deposit: £ 200
  • Platforms: Orex (desktop and mobile application), ADSS MT4
  • Headquarters: ADS Securities L.L.C. is headquartered in Abu Dhabi, UAE
  • US Customers: No
  • Other instruments: CFDs on commodities, indices, stocks, cryptocurrency; spread betting
Try ADS SECURITIES with a demo account

74-89% of retail CFD accounts lose money

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