An Islamic or swap-free account is -as the name mentions- an account that is not subject to swaps. This specific account can be requested by clients who follow the Sharia law.
How does it work?
An Islamic account offers the same features that are provided in the account types offered by Global GT, with the only difference that positions on certain FX and other CFD instruments can be held open overnight swap-free and with no additional fees on trades.
Here is the structure of the swap-free account:
|FX Majors||Swaps applied after 6 days|
|FX Minors||Swaps applied after 6 days|
|CFD Energies||Swaps applied after 4 days|
|CFD Indices||Swaps applied after 4 days|
The below are not subject to swap-free accounts :
|FX Exotics||Swaps applied daily|
|CFD Stocks||Swaps applied daily|
|CFD GTi12 Index||Financing fees applied every 4 hours|
If you wish to open a swap-free account, simply send your request to [email protected], or open a ticket through your Client Portal.
Certain conditions apply in order to be eligible to open a swap-free account.