Swap-free trading, on every account
No overnight interest, charged or earned — available on any of our account types on request. It is a designation applied to your specific account rather than a property of the account type, so the one thing worth doing is confirming it is active on yours before you hold a position overnight.
How it is actually applied
Swap-free is granted per account. Your account is placed in a swap-free group, and from that point overnight financing is neither charged nor paid on it.
It is available on every client account type — Standard, Cent, Turbo, Zero and VIP. What it is not is automatic. An account that has not been placed in a swap-free group carries swap in the normal way, and ECN-group accounts are not currently swap-free.
So the useful question is not which tier you chose but whether the designation is live on your account number. Ask support to confirm it before you hold a position over the daily close, and you will never be surprised.
Where the scholarly debate actually sits
Opinions differ, and we will not pretend otherwise. Those who permit it point to trading as a legitimate exchange of value with an agreed price at the moment of the trade. Those who do not point to leverage, deferred settlement and speculation.
What we can state plainly is the mechanics of the account: no interest, transparent spreads, and no hidden financing charge substituted in its place.
What you can trade
| Market | Swap-free | Spreads from |
|---|---|---|
| Gold (XAUUSD) | Yes | from 15 cents on Zero |
| Major forex pairs | Yes | from 0.0 pips on Zero |
| Indices | Yes | Variable |
| Oil & energies | Yes | Variable |
| Crypto CFDs | Yes | Variable |
The question that separates a real swap-free account from a marketed one
Every broker in this region advertises swap-free accounts. The difference shows up in week two, so the question to ask is simply: what happens on day eight?
Some brokers grant Islamic status, then introduce an “administration fee” after a few days that accrues daily and grows the longer you hold. A charge that accumulates with time against an open position is financing, whatever it is called on the statement. Renaming it does not change what it is.
On our accounts the overnight financing charge is removed and nothing time-based replaces it. It applies identically to gold, currency pairs and oil.
A charge that grows the longer you hold a position is financing, whatever the statement calls it.
What it covers, and what it is not
Islamic status removes the swap. It does not change your spread, your commission, your leverage, or the instruments available to you — and any broker implying otherwise is selling you something else.
It is granted for religious observance and is personal to the account holder. It is not a trading facility, a discount, or a way to reduce costs, and it is not designed for holding positions indefinitely at no financing cost. Where the benefit obtained comes principally from the absence of financing rather than from the trading itself, we may review or withdraw the status — that is set out in clause 21 of the Terms and Conditions, and we would rather you read it here than discover it later.
How to get it, and what changes on your account
Standard, Zero, Cent or VIP — Islamic status can be applied to any of them.
Ask through the client portal or your account manager. It is granted at our discretion for religious observance.
In MetaTrader, open the terminal window and look at the swap column on an open position. On a swap-free account it stays at zero overnight. That is the check worth doing yourself rather than taking anyone's word for it.
Common questions
Do I need to request the Islamic account?
No. All TNFX accounts are swap-free by default — there is nothing to apply for.
Is there a time limit on holding positions?
No. Swap-free applies for as long as you hold the position.
Is there a fee instead of swap?
No administration fee replaces swap at TNFX.
Is forex halal?
Scholars differ; the swap-free account removes the interest element, which is the most common objection. Consult a scholar you trust for a ruling on your own situation.
Is the account genuinely free of interest?
Yes. The overnight financing charge is removed and is not replaced by a time-based administration fee. It covers gold, currency pairs and oil.
Does swap-free mean wider spreads?
No. Islamic status removes the financing charge only. Your spread and commission are unchanged.
How do I verify it is actually working?
Hold a position overnight and check the swap column in MetaTrader. It should read zero.
Can the status be removed?
It can be reviewed or withdrawn where the benefit derives principally from the absence of financing rather than from the trading itself. See clause 21 of the Terms and Conditions.