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Brokers · Swap-free / Islamic
Best Swap-Free (Islamic) MT4 Brokers (2026)
The best swap-free MT4 brokers, compared honestly — including the administration or holding fees many charge in place of swap, plus eligibility and which instruments qualify.
A swap-free MT4 broker offers an Islamic account that removes the overnight swap (rollover interest) to comply with Sharia law. Every broker below provides a genuine swap-free account on MetaTrader 4, is regulated, and earns its place on factual criteria — not on what it pays us. One honest caveat up front: "swap-free" rarely means "free to hold forever" — many brokers apply an administration or holding fee instead, so read the terms carefully.
| # | Broker | Min deposit | Platforms | Best for | Regulation | Visit broker |
|---|---|---|---|---|---|---|
| 1 | Exness Top pick | $10 | MT4 · MT5 | Low cost, Emerging markets | CySEC, FCA, FSCA, FSA | Visit → |
| 2 | XM | $5 | MT4 · MT5 | Beginners, Low deposit | CySEC, ASIC, DFSA, FSC | Visit |
| 3 | AvaTrade | $100 | MT4 · MT5 | Regulated, Trust-sensitive geos | CBI, ASIC, FSCA, FSA | Visit |
| 4 | FXTM (Forextime) | $10 | MT4 · MT5 | Africa, MENA, Education | FSC Mauritius, FCA, FSCA | Visit |
| 5 | HFM (HotForex) | $0 | MT4 · MT5 | Africa, MENA | CySEC, FCA, FSCA, DFSA | Visit |
| 6 | FBS | $5 | MT4 · MT5 | Asia, Africa, Low deposit | CySEC, ASIC, FSC | Visit |
Ranked on our editorial criteria, not on commercial terms — see our editorial policy. We may earn a commission if you open an account through our links, at no extra cost to you (disclosure). Swap-free terms change and vary by region; confirm the current conditions, fees, and eligible instruments on the broker's site.
To prevent indefinite interest-free carry trades, many brokers replace the removed swap with a flat administration or holding fee per lot per night (often after a grace period), or limit which instruments qualify. Some charge nothing on eligible symbols. The only way to know your real cost is to read the broker's swap-free terms. Trading is high-risk and most retail traders lose money; this is general information, not religious or financial advice — verify Sharia compliance with a qualified authority.
How we ranked these swap-free brokers
We weighed five things, in roughly this order of importance:
- Genuine swap-free terms — and transparency about any holding/administration fee.
- Eligibility — how easily you can enable it, and whether it's automatic or by application.
- Regulation & trust — the licences held and where the broker may operate.
- Eligible instruments — how broad the swap-free coverage is.
- Overall cost — spreads and fees on the swap-free account versus the standard one.
A few that stand out
| Min deposit | $10 |
|---|---|
| Platforms | MT4, MT5 |
| Best for | Low cost, Emerging markets |
| Regulation | CySEC, FCA, FSCA, FSA |
Grants swap-free status automatically to clients in many regions, with no paperwork, across several account types and a broad range of eligible instruments.
| Min deposit | $5 |
|---|---|
| Platforms | MT4, MT5 |
| Best for | Beginners, Low deposit |
| Regulation | CySEC, ASIC, DFSA, FSC |
A well-established Islamic account with competitive spreads, a low $5 minimum, and multi-jurisdiction regulation — a simple, trusted starting point.
| Min deposit | $100 |
|---|---|
| Platforms | MT4, MT5 |
| Best for | Regulated, Trust-sensitive geos |
| Regulation | CBI, ASIC, FSCA, FSA |
A long-standing, well-regulated broker (CBI, ASIC, FSCA) offering a dedicated swap-free account for Sharia-compliant trading.
The brokers above are offshore and don't accept US residents. US traders must use an NFA-regulated broker such as OANDA, tastyfx, or Forex.com — see our main broker guide.
Related guides
See how swap works in our swap calculator and the swap definition. Comparing other angles? Read the best MT4 brokers overall or the best for beginners. Other account types: ECN / raw and cent accounts, or compare ECN vs standard.
We rank on regulation, cost & suitability — never on commission. How we rank.
Trading forex/CFDs is high-risk; most retail traders lose money. Not financial advice.
Need a swap-free account?
Exness offers swap-free (Islamic) accounts and a low minimum. Confirm the current terms — some brokers apply an admin fee instead of swap. Open a free demo first.
Affiliate disclosure: we may earn a commission if you open a broker account through our links, at no extra cost to you. Learn more.
Frequently asked questions
What is a swap-free (Islamic) account?
A swap-free or Islamic account removes the overnight swap (rollover interest) on positions held past the daily cut-off. It's designed to comply with Sharia law, which prohibits paying or receiving interest (riba). Non-Muslim traders sometimes use them too, simply to avoid overnight swap charges.
Are swap-free accounts really free to hold overnight?
Not always. Many brokers replace the swap with an administration or holding fee — often a flat charge per lot per night after a grace period — to discourage indefinite carry trades. Some genuinely charge nothing on eligible instruments. Always read the swap-free terms: the alternative fee, which instruments qualify, and any time limit.
How do I get a swap-free account?
It varies by broker. Some, like Exness, grant swap-free status automatically to clients registered in certain countries, with no paperwork. Others require you to apply and may ask for documentation, or offer it only on specific account types. Check the broker's Islamic-account page for how to enable it.
Do swap-free accounts have worse spreads?
Sometimes, but not always. A broker may offset the removed swap with slightly wider spreads, a holding fee, or fewer eligible instruments. Compare the swap-free account's all-in conditions against the standard account before deciding — the headline 'no swap' isn't the whole picture.
Which instruments are eligible for swap-free trading?
Usually major forex pairs and metals, but it varies. Brokers often exclude exotic pairs or certain CFDs, or apply the holding fee to them. Exness, for example, applies swap-free across several account types on eligible symbols. Confirm the eligible-instrument list on the broker's site.
Can US residents open these swap-free accounts?
Mostly no — the brokers listed are offshore and don't accept US clients. US residents must use an NFA-regulated broker, and swap-free options there are limited. Never trade with a broker that isn't authorised to serve your country.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.