Register Now

Islamic Account

For our Islamic customers, we have structured an account for any client to waive all swap charges/credits in their account.

The exclusive Islamic Accounts (also known as ‘Swap-Free Accounts’) do not swap or rollover interest on overnight positions, which is against the Islamic faith. Read more about our Swap-Free Policy.

Islamic AccountIslamic Account
Islamic Account Benefits
Moon Icon

Trade in the international market in accordance with the Muslim religion

Zero Percent

No interest/swap charges on overnight positions

Islamic Account Conditions

Kindly note that individual account holders are permitted to have either a swap-free or swap-standard account at any given time. MEX Global reserves the right to revoke the swap-free status granted to any live trading account in the event of any form of abuse.

What is the Swap Rate

A swap rate or ‘rollover fee’ is an interest fee that is charged when you keep a position open overnight. Each currency pair has its own swap rate calculated based on one standard lot (100,000 base units) and is determined by interbank rates.

Check the rates listed on the MT4 trading platform for the latest swap rates.

Please note that when trading spot forex, swap rates are determined two days in advance. For example, if trades are opened on Thursday, the swap begins on Monday. For trades on Friday, the swap begins on Tuesday.
Please also note that swap rates are tripled on Wednesdays to account for the weekend.

The above is the standard structure on swap rates across the industry, however, please note that on weeks where there are holidays, the swap rate structure may be modified to account for the holiday.

dotted-background
Swap for Currency Pairs with USD as Quote Currency(counter currency)Swap Rate = Contract Size x Lots x Swap (points) x Minimum Fluctuation (points) x Days
dotted-background
Swap for Currency Pairs with Non-USD as Quote Currency(counter currency)Swap Rate = Contract Size x Lots x Swap (points) x Minimum Fluctuation (points) x Days x PIP Value at the closure of Market
Swap Rate Examples
For 5 Decimal Quotation
Buy EUR/USD at -2.2pts (SWAP Points)
Sell at 0pts
If an investor opened 1 lot on Monday and closed the position on Thursday, then payable trading days for swap is 1+1+3=5
Swap is calculated as follows:

100,000 (Contract Size)x1 (Lot)x-2.2pts (Swap Points)x0.00001 (Minimum Fluctuation Points)x5 days
= -11
Swap Rate is $11
For 4 Decimal Quotation
Buy EUR/USD at -0.22pts (SWAP Points)
Sell at 0pts
If an investor opened 1 lot on Monday and closed the position on Thursday, then payable trading days for swap is 1+1+3=5
Swap is calculated as follows:

100,000 (Contract Size) x 1 (Lot) x -0.22pts (Swap Points) x 0.0001 (Minimum Fluctuation Points) x 5 days
= -11
Swap Rate is $11

Choose Where To Go Next

striped-background-card
Why Us
Why Us
striped-background-card
Account Funding
Account Funding
striped-background-card
Support
Support

Want to get started?

Join MEX Global
rocket
We accept:
MEX Global Financial Services LLC offers over-the-counter margined derivative contracts including contracts for difference and spot foreign exchange are complex instruments. They come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work, and whether you can afford to incur losses and have the appropriate risk appetite. We recommend you seek professional advice before investing. MEX Global Financial Services LLC, is a company incorporated with limited liability under the laws of the Emirate of Dubai, United Arab Emirates (UAE), and the federal laws of the UAE, under trade license number 1068656. MEX Global Financial Services LLC’s registered address is 36 Floor (Parcel ID 346-6876), Ubora Tower, Business Bay, Dubai, UAE. MEX Global Financial Services LLC of the UAE is regulated by the Securities and Commodities Authority of the UAE, as a Category 1 Trading Broker for Over-the-Counter Derivatives Contracts and Foreign Exchange Spot Markets, under ESCA license number 20200000031.