Forex Islamic accounts are also known as swap-free accounts as they infer no swap or rollover interest on overnight positions, which is contrary to Islamic faith. We offer our Islamic accounts to clients of Islamic belief.
The swap-free option can be chosen as part of the trading account registration in 3 easy steps:
→ Open a trading account with us
→ Login to the Client Area and validate your account
→ Request an Islamic Account through contacting support at email@example.com
As soon as our relevant department receives your validation request, your trading account will obtain a swap-free status and you will receive an email confirmation accordingly. Kindly note that Esforexpip reserves the right to revoke the swap-free status granted to any trading account in case false information was provided or in the event of abuse.
No Commissions and No Hidden Fees. 100% Shariah Compliant.
Swap free accounts do not pay or earn swap or interest on any trades. may, at its discretion, update fees relating to swap free accounts on its website from time to time.
ABUSE AND TERMINATION
Swap free accounts are to be used in good faith and, clients may not use the swap free account to make profits from swaps or benefit from not paying swaps. They should also note that they may not request the payment of any Swap amounts that have been lost as a result of converting their live trading Account(s) into one or more Swap free Accounts for the period during which their real trading Account(s) has/have been converted into one or more Swap free accounts.
Esforexpip reserves the right to cancel an account swap free status at its discretion without having to provide reasoning for this. In the event of abuse, Esforexpip, in the form of, but not limited to; fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity with the usage of a Swap free Account, then the company reserves the right to take immediate action in the form of;
(a) Annulling Swap free privilege to all live trading Accounts that are under suspicion of exploitation;
(b) correction and recovery of accumulated Swaps and related accrued interest expenses and/or costs pertaining to and all of the client’s Swap free trading Accounts for the period which the Accounts were converted into Swap free status;
(c) Termination of the client agreement
(d) Canceling all trades carried out on client’s trading Accounts and, cancelling any profits earned or losses incurred on such client’s trading Accounts. Esforexpip reserves the right to cancel the Swap free privilege granted to any live Account at any time without being obliged to provide any explanation or justification.