Islamic Account
For our Islamic customers, we have structured an account for any client to waive all swap charges/credits in their account.
The exclusive Islamic Accounts (also known as ‘Swap-Free Accounts’) do not swap or rollover interest on overnight positions, which is against the Islamic faith. Read more about our Swap-Free Policy.
Trade in the international market in accordance with the Muslim religion
No interest/swap charges on overnight positions
Kindly note that individual account holders are permitted to have either a swap-free or swap-standard account at any given time. MultiBank Group reserves the right to revoke the swap-free status granted to any live trading account in the event of any form of abuse.
A swap rate or ‘rollover fee’ is an interest fee that is charged when you keep a position open overnight. Each currency pair has its own swap rate calculated based on one standard lot (100,000 base units) and is determined by interbank rates.
Check the rates listed on the MT4 trading platform for the latest swap rates.
The above is the standard structure on swap rates across the industry, however, please note that on weeks where there are holidays, the swap rate structure may be modified to account for the holiday.
100,000 (Contract Size)x1 (Lot)x-2.2pts (Swap Points)x0.00001 (Minimum Fluctuation Points)x5 days
= -11
100,000 (Contract Size) x 1 (Lot) x -0.22pts (Swap Points) x 0.0001 (Minimum Fluctuation Points) x 5 days
= -11
High Risk Investment Warning: Trading foreign exchange and/or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss in excess of your deposited funds. Please refer to specific risk warning for each regulated entity during the account opening process.
