What is the difference between Islamic and Swap Free accounts?

How do Islamic and Swap Free accounts differ?

TradeQuo offers two non-swap account types: Islamic and Swap Free. Islamic accounts have no overnight charges, while Swap Free accounts may incur a daily Admin fee on positions held overnight. Which one is available to you depends on your country of residence.

What does an Islamic account include?

An Islamic account has no swap and no overnight charges of any kind. It’s available to clients residing in the countries listed under “In which countries are Islamic accounts offered?” further down this page.

What does a Swap Free account include?

A Swap Free account carries no Swap commission, but a daily Admin fee may apply to positions held overnight. This is the option offered to clients residing in all other countries.

How does the daily Admin fee work?

The daily Admin fee is a fixed USD amount charged per lot for each position held overnight. It applies to Swap Free accounts only. Islamic accounts have no overnight charges.

Islamic vs Swap Free accounts: side-by-side comparison

Which account type will be offered to me?

This is determined by your country of residence when you register:

• Islamic account: offered to clients from countries on the Islamic countries list.

• Swap Free account: offered to clients from every other country.

In which countries are Islamic accounts offered?

Islamic accounts are offered to clients residing in these countries:

Algeria, Azerbaijan, Bahrain, Bangladesh, Bosnia and Herzegovina, Brunei Darussalam, Chad, Comoros, Côte d’Ivoire, Djibouti, Egypt, Indonesia, Jordan, Kazakhstan, Kyrgyzstan, Kuwait, Lebanon, Maldives, Mali, Mauritania, Morocco, Niger, Oman, Pakistan, Palestinian Territory (Occupied), Qatar, Saudi Arabia, Senegal, Tajikistan, Tunisia, Turkey, Turkmenistan and Uzbekistan.