Islamic (or swap-free) account is a type of account that is designed specifically to meet the needs of traders who adhere to Islamic religious beliefs.
In accordance with the requirements of the Sharia, Islam prohibits business and trading operations, as a result of which one of the parties earns interest on the other side. Therefore, Muslims, on the basis of religious considerations, use not an ordinary account, but open a similar in the functionality and characteristics account.
As we said above, the swap-free account is no different from the usual real account. All the features of such an account are identical to the real one. The most important thing is that thanks to the swap-free capability, the client can keep his trading positions any time he needs, without paying any additional fees (using current trading conditions). Thus, the transaction is postponed to the next day at midnight, but no additional commissions will be charged from the user. The outcome of such a transaction is affected only by possible changes in the exchange rate.
It's easy to open a swap-free account in Go Capital FX! To do this, you just need to open a real account, and then contact the customer service with a request to create a swap-free account. Our specialists will help you in the shortest time.