Register Now

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.

Islamic AccountIslamic Account
Islamic Account Benefits
Moon Icon

Trade in the international market in accordance with the Muslim religion

Zero Percent

No interest/swap charges on overnight positions

Islamic Account Conditions

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.

What is the Swap Rate

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.

Please note that when trading spot forex, swap rates are determined two days in advance. For example, if trades are opened on Thursday, the swap begins on Monday. For trades on Friday, the swap begins on Tuesday.
Please also note that swap rates are tripled on Wednesdays to account for the weekend.

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.

dotted-background
Swap for Currency Pairs with USD as Quote Currency(counter currency)Swap Rate = Contract Size x Lots x Swap (points) x Minimum Fluctuation (points) x Days
dotted-background
Swap for Currency Pairs with Non-USD as Quote Currency(counter currency)Swap Rate = Contract Size x Lots x Swap (points) x Minimum Fluctuation (points) x Days x PIP Value at the closure of Market
Swap Rate Examples
For 5 Decimal Quotation
Buy EUR/USD at -2.2pts (SWAP Points)
Sell at 0pts
If an investor opened 1 lot on Monday and closed the position on Thursday, then payable trading days for swap is 1+1+3=5
Swap is calculated as follows:

100,000 (Contract Size)x1 (Lot)x-2.2pts (Swap Points)x0.00001 (Minimum Fluctuation Points)x5 days
= -11
Swap Rate is $11
For 4 Decimal Quotation
Buy EUR/USD at -0.22pts (SWAP Points)
Sell at 0pts
If an investor opened 1 lot on Monday and closed the position on Thursday, then payable trading days for swap is 1+1+3=5
Swap is calculated as follows:

100,000 (Contract Size) x 1 (Lot) x -0.22pts (Swap Points) x 0.0001 (Minimum Fluctuation Points) x 5 days
= -11
Swap Rate is $11

Choose Where To Go Next

striped-background-card
Why MultiBank
Why MultiBank
striped-background-card
Account Funding
Account Funding
striped-background-card
Support
Support

Want to get started?

Join MultiBank Group
rocket
We accept:
Copyright © : 2005-2024 MEX Group Worldwide Limited. All rights reserved. MultiBank Group is a registered trade name of MEX Group Worldwide Limited. 200 Gloucester Road, Wan Chai, Hong Kong. MultiBank Exchange is the trading name of MultiBank Forex Exchange Corporation incorporated in California, USA with Company No. 3918038. MBFX International Corporation Ltd with Company No. 418653 and registered office at Aiolou & Panagioti Diomidous, 9 Katholiki, 3020, Limassol, Cyprus. 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.