Here at Tickmill, our clients’ interests always come first. For this purpose, we continuously strive to facilitate our trading conditions to suit various needs of clients throughout the world. With this in mind, we offer Islamic accounts that are compliant with the Sharia law.
Forex Islamic account is known as a swap-free account as there is no swap or rollover interest on overnight positions, which is against the Muslim faith. All Muslim clients can benefit from Tickmill’s best trading conditions by opening any account with us – Classic, Pro or VIP – and converting it to an Islamic type.
Islamic accounts have exactly the same trading conditions and terms as our regular trading account types. The only difference is that there are no swaps on trading instruments, however, a handling charge applies for holding exotic currency pairs overnight for more than three consecutive nights.
Our all-star Client Support team will process your request for an Islamic account status within 1 business day and you will receive an email confirmation once all is set up. All subsequent trading accounts opened by you at Tickmill will be automatically classified as swap-free meaning there will be no need for contacting us again.
NB! Please make sure you comply with our Islamic (Swap-Free) trading account use agreement before applying for a swap-free account status.
When a position is held open for more than three consecutive trading days (including weekends), an Islamic account is subject to the following daily charges on exotic currency pairs:
|Instrument||Charge per lot|
- The above charges are in USD and are converted automatically to the account’s base currency if this is different.
- The fees are fixed per 1 lot regardless of the type of position (long or short) and apply to MT4 swap-free accounts as a separate balance operation at 00:00 server time.