By the Anrim Forex Team
Many traders in Egypt and the Gulf want to learn forex, gold and oil trading without dealing in interest. Holding trades overnight is where interest usually enters, through a charge called swap. This guide explains what a swap-free account is, how the Exness Islamic account works, what it does and does not change, and how to open one step by step.
What is a swap?
When you buy or sell a currency pair, you are effectively holding one currency and borrowing the other. If the position is still open at the broker's daily rollover time (usually around midnight server time), the broker adjusts your account by the interest-rate difference between the two currencies. That adjustment is the swap. Depending on the pair and the direction of your trade, a swap can be charged to you or paid to you, and on some days (often Wednesday) it is tripled to cover the weekend.
Because the swap is calculated from interest rates, many Muslim traders prefer to avoid it entirely. That is the main reason Islamic, or swap-free, accounts exist.
What does "swap-free" mean at Exness?
On an Exness swap-free account, no swap is charged or paid when you keep positions open overnight on the instruments covered by the swap-free status. Exness publishes the current list of eligible instruments and conditions in its Help Centre and in your Personal Area, so always check the latest terms for the instruments you trade, especially for exotic pairs and some commodities.
What swap-free does not change
- Spreads and commissions still apply. Swap-free removes the overnight interest adjustment; it does not make trading free.
- Risk is the same. Prices move the same way on any account. A swap-free account does not reduce the chance of loss.
- Trading decisions are yours. Anrim Forex provides education only. We do not manage client money and we do not sell signals.
Who is it for?
- Traders who do not want interest-based charges for religious reasons.
- Beginners who want trading costs that are easy to understand.
- Anyone who sometimes holds a trade for more than a day, for example on gold or major currency pairs.
How to open an Exness Islamic account, step by step
1. Register through our partner link
Open the Exness registration page through our partner link. If you register another way, tick "I'm registering under a partner" and enter the partner code 03ri5mugye. This connects you to the Anrim Forex community so we can help you with setup questions.
2. Verify your profile
Confirm your email and phone number, then complete verification by uploading a valid ID and a proof of address (a recent utility bill or bank statement). Verification is required before you can use all deposit and withdrawal methods.
3. Request swap-free status
In many countries in the Middle East, swap-free status is applied automatically to new accounts. If it is not, open your Personal Area, go to the account settings and look for the swap-free / Islamic option, or contact Exness support and ask them to enable it. Check the account details afterwards to confirm the status.
4. Choose an account type and fund it
For most beginners a Standard account is the simplest place to start. Deposit with a local method available in your country, and start with an amount you can afford to lose while you learn.
5. Practise first, then trade small
Use a demo account to learn the platform before risking real money. When you go live, risk only a small percentage of your balance per trade, always set a stop-loss, and avoid trading during major news releases until you understand how volatile prices can become.
Common questions
Can I switch an existing Exness account to swap-free? Usually yes. Check your Personal Area or ask Exness support.
Are there extra fees instead of swap? Read the current Exness terms for the instruments you trade. Spreads and any commissions always apply.
Is trading guaranteed to be halal? A swap-free account removes interest charges on overnight positions. Whether a specific trading style suits you is a question to discuss with a scholar you trust. Avoid gambling-style behaviour such as over-trading or using money you cannot afford to lose.
Get help from the community
Questions about the setup? Join our English Telegram community or the Arabic community, and read our full swap-free account guide.
Open an Exness swap-free account Join our Telegram
Anrim Forex Team
Analysts and educators at Anrim Forex, an Exness partner. We write practical lessons on gold, oil and forex.
Trading forex, gold and CFDs carries a high risk of losing money. This content is education, not personal investment advice. Anrim is an Exness partner and may earn a commission when you trade.