Swap Free Terms and Conditions

Please read and agree to the following terms and conditions prior to opening your Tadawol Market’s Islamic Swap Free trading account.

1. The Swap Free Account (Forex Islamic Account) is a Client Account with no swap or rollover interest on overnight positions, which is aligned with belief of the Muslim faith. All Muslim Clients benefit from the Company’s trading conditions and may be eligible to open a Swap-Free account at the Company’s sole discretion.
2. The Swap Free Accounts have the same trading conditions and terms as regular account types, with the only difference that there are no swaps.
3. Before applying for a Swap-Free Account with the Company, the Client must make sure they comply with the Swap Free Account Use Agreement.
4. In the event the Client, due to their observance of their religious beliefs, cannot receive or pay interest, such Client may apply, by completing and submitting to the Company an application form which can be found on the Company’s Website, as amended by the Company from time to time, or via such procedure as the Company may designate from time to time at its sole discretion, for their Account to be designed as a Swap-Free Account, not charged with or entitled to, premiums and/or rollovers and/or interest (“Swap Free Account” or “Islamic Account”). The Client hereby confirms and accepts and declares that a request to render their Account Swap Free shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting the request of a Client to designate their Account as a Swap Free Account, upon its sole and absolute discretion which shall be conclusive and undisputable upon the Client.
5. In the event that the Company suspects that a Client might have been abusing the rights conferred to them by the classification of the Account as Swap Free Account, the Company reserves the right, without any prior notice, to proceed with one or more of the following:
   • The Company may add commission upon each and every one of the trades executed on the Swap Free Account; and/or
   • The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as Swap Free Account, recall the designation of the Account as Swap Free Account and render it a regular Trading Account; and/or
   • The Company may restrict and/or prohibit the Client from hedging their positions; and/or
   • The Company may, upon its sole discretion, close any Open Positions and reinstate them upon the prevailing market price. The Client hereby, acknowledges, agrees and accepts that they shall bear all costs derived from the aforementioned action including, but not limited to, the cost on the change of the Spread. Tadawol Markets is a brand affiliated to Tadawol Markets Capital Management LLC, which is authorised and licenced under the licence number 168LLC2021.
6. The Company offers, at its sole discretion, Swap Free Accounts for any Clients who, for religious reasons, may choose not to receive or pay daily swap fees. Clients with Swap Free Accounts shall be allowed to trade in selected CFDs in underlying Financial Instruments which shall be selected by the Company at its sole discretion and in accordance with its internal policies. The list of such underlying Financial Instruments (or the list of those CFDs for which Swap Free trading will not be permitted) shall be notified to each Client whose Account is designated as a Swap Free Account.
7. Where the Client has a Swap Free Account, the Client is obliged to close any open CFD position within 15 (fifteen) calendar days of opening thereof. In the event of the Client’s failure to do so, the Company shall have the right to treat any such instance as an abuse by the Client of the terms of operation of such Swap Free Account and take any of the actions specified in our Terms and Conditions above and/or charge to such open CFD positions the rollover charges in accordance with our Terms and Conditions, in each case with retroactive effect.
8. The Company reserves the right to terminate Swap Free privileges at any time, without providing any notice to the Client.
9. Swap Free Accounts are liable for dividends, other corporate actions and daily funding charges which will be reflected in the relevant Account Statements.
10. Clients who wish to have a Swap Free Account and are not of any Islamic Religion, must create a minimum trading volume per month. The minimum trading volume per month will be calculated for closed positions only as follows: