TabTrade, a forex and CFD broker headquartered in Port Louis, Mauritius, has rolled out a dedicated Swap Free Account designed for traders whose religious beliefs preclude paying or receiving overnight interest. The new account type is accessible through the TabTrade Secure Account Portal in supported regions, following standard identity verification.
In conventional trading, an overnight swap—also known as a rollover—is applied to positions held past the daily cut-off, either crediting or debiting the trader's balance. The Swap Free Account removes this adjustment entirely. Instead, a service fee is charged after a position has remained open for seven calendar days, and again after each subsequent seven-day period while the position stays open.
The fee structure varies by instrument and is published on the account page as a fixed US dollar amount per average lot. Notably, the account carries no separate trading commission and imposes no minimum deposit requirement, making it accessible to a broad range of retail traders.
Clients can trade major and minor forex pairs, shares, futures, and precious metals on the MetaTrader 5 platform. However, the availability of specific instruments and conditions may differ depending on the trader's jurisdiction, reflecting local regulatory requirements.
Eligible clients can create a Swap Free Account directly in the portal after completing identity verification, without needing a separate approval step. This streamlined process is intended to reduce friction for traders seeking an interest-free trading environment.
Benjamin Boulter, Founder and CEO of TabTrade, emphasized transparency in the fee schedule: “A trader should be able to check the cost of holding a position before opening it. The fee schedule sets out the charge for each instrument and when it applies, including if the position stays open for several weeks.”
Access to the Swap Free Account remains subject to verification, regional availability, and the applicable terms and conditions. TabTrade explicitly notes that it does not provide a religious ruling or certification, leaving it to traders to assess whether the account aligns with their own requirements.
The launch comes amid growing demand for Islamic finance-compliant trading solutions, as more brokers seek to cater to clients who observe Shariah law, which prohibits the earning or paying of interest (riba). While swap-free accounts are not new, TabTrade's approach of publishing fixed fees per average lot and applying them only after a seven-day holding period offers a clear cost structure for long-term position holders.
It is important to note that trading CFDs and margin forex carries a high level of risk. Removing overnight swaps does not eliminate the risk of trading losses, and traders should carefully consider their financial situation before engaging in such activities.
This article is for informational purposes only and does not constitute financial advice.
