2. Forex Broker
  3. Islamic Account

Islamic Forex Account

islamic Forex account

PaxForex introduces special accounts - Islamic swap-free accounts. Rather than swap, a settled financing charge (commission) is applicable on the account and it bases on the asset traded and the amount of lots only, not on the interest rate. This account was initiated specifically for clients of Muslim beliefs who cannot earn or pay any interest due to Sharia law.

Basic terms and fee rates

Broad terms:

  1. “Swap-free” option is applicable to all accounts. Except Cent Account.
  2.  After you shift your account to swap-free one, the overnight financing cost is deducted and it varies according to the asset and the trading volume. Remaining trading terms and conditions still apply.
  3. To set up the “Swap-free” service, you have to open a trading account and contact our support team in any of the ways listed below: 1.Send us an email to info@paxforex. com. 2.Contact us through our 24/5 live chat.
  4. While changing the account to “Swap-free” one, all the trades must be closed, it is mandatory.
  5. The client can terminate the service at any time by contacting our support team.
  6. Be advised that PaxForex reserves the right to reject the service at any time without prior notice and/or clarifying. If the service is terminated by the Company, the account will be charged swaps as specified in terms & conditions.



After you shift your account to swap-free one, you are not charged swaps but a fixed overnight fee will be deducted for each open trade.
** The fee given in the table 1 is per 1 standard lot. The commission is deducted every day at 12: 00 AM GMT and is calculated like this:

<Commission> = <Commission for 1 lot> * <Number of lots>
Currency pairsComission (USD)*
EURUSD, USDJPY, AUDUSD, AUDJPY, NZDUSD, AUDCAD,  USDCHF, USDCAD, EURJPY, EURCHF, GBPJPY, CHFJPY, AUDNZD, CADJPY8
GBPUSD, EURGBP, GBPCHF, GBPCAD, CADCHF10
AUDPLN, AUDSGD, CHFSGD, GBPPLN, EURNZD, GBPNZD, EURAUD, EURCAD, GBPAUD, AUDCHF, USDJPY, NZDJPY, USDPLN, EURPLN, NZDCAD, NZDCHF15
USDSGD, EURSGD, USDHUF, EURHUF, EURHKD, GBPSGD, NZDSGD, SGDJPY, USDHKD,USDSEK,EURSEK,GBPSEK, USDMXN, EURMXN, USDNOK, EURNOK, GBPNOK, USDDKK, EURDKK, AUDDKK, GBPDKK20
USDTRY, EURTRY,USDZAR, EURZAR, GBPZAR 50
MetalsComission (USD)*
Gold8
Silver5
Shares CFDComission (USD)*
#Amazon0.6
#Google0.7
#Apple, #McDonalds, #Facebook, #Caterpilar, #TeslaMotor0.8
#Alcoa, #AIG, #AmericanEx, #Boeing, #Alibaba, #BofAmerica, #Citigroup, #Cisco, #Chevron, #Disney, #GenElec, #HomeDepot, #HPackard, #IBM, #Verizon, #Intel, #J&J, #JPMorgan, #CocaCola, #3M, #MerkCo, #Microsoft, #Oracle, #Pfizer, #P&G, #AT&T, #Travelers, #UnitedTech, #Walmart, #ExxonMobil, #E.bay, #GoldmSachs, #WellFargo, #Twitter0.4
CryptoCurrencyComission (USD)*
BTCUSD,LTCUSD10
ETHUSD, XRPUSD1


*  - The commission specified in the table is for 1 standard lot.

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