XM Islamic (Swap-Free) Account: Eligibility and Conditions
By BrokaBoy Research Team · Reviewed 14 October 2026 · Updated 14 October 2026 · 5 min read
Yes, XM offers an Islamic (swap-free) option on all its accounts, Standard, Ultra Low and Shares, as a status you request after verifying a live account. XM's public pages don't publish detailed terms, so confirm fees, excluded instruments and holding limits with support before relying on it.
XM lists an Islamic swap-free option on all accounts
Request it in the Members Area after verification, before you trade
Swap-free removes both swap charges and swap credits
Ask XM in writing about admin fees, excluded symbols and holding limits
Whether trading is halal is a question for a qualified scholar
Does XM offer a swap-free account?
Yes. XM's account-types page lists an Islamic option on all of its accounts, Standard, Ultra Low and Shares, for clients of XM Global Limited (checked October 2026). It isn't a separate account type. It's a status added to a normal account so that no overnight swap is charged or paid. XM's public pages don't set out the detailed swap-free terms, so the specifics below are labelled by source.
What "swap-free" changes on your account
On a normal XM account, any CFD position held past the daily rollover is charged or credited swap, based on the interest-rate difference between the two currencies or the financing cost of the asset. XM's client agreement charges currencies and precious metals triple on Wednesday night to cover the weekend. Cash indices, energies, ETFs and stocks are charged triple on Friday.
With Islamic status, that line disappears from your account history:
Item
Normal XM account
XM account with Islamic status
Overnight swap charged
Yes, every rollover
No
Positive swap credited
Yes, on some pairs/directions
No
Spread
Account's normal spread
Same account spread, according to XM's sponsored material
Commission
Per account type
Per account type
Platforms
MT4, MT5, XM App
Same, per XM's sponsored material
Note the second row: swap-free works both ways. If you hold the "positive carry" side of a pair, you give up the credit you'd otherwise earn.
How much it saves in practice
The saving depends entirely on how long you hold trades and what you trade. Using swap rates FXEmpire recorded on XM in September 2025 (rates change often, so treat these as an illustration):
EUR/USD long: −$10.92 per lot per night
Gold long: −$58.30 per lot per night
Example 1 — gold swing trader. 0.10 lots long gold, held Monday to Monday. That's five rollovers, one of them triple on Wednesday, so seven swap charges.
Normal account: 7 × $58.30 × 0.10 = $40.81
Islamic status: $0
Example 2 — EUR/USD position trader. 0.50 lots long EUR/USD held four weeks (28 swap charges, counting four triple Wednesdays across 20 trading nights).
Normal account: 28 × $10.92 × 0.50 = $152.88
Islamic status: $0
Example 3 — intraday trader. Everything closed before rollover. Saving: $0. Swap-free status changes nothing for you.
Check the current swap values yourself in MT5: right-click the symbol in Market Watch, choose Specification, and read the long and short swap rows. Our swap calculator turns them into money for your position size.
Swap (overnight financing) calculator
Estimated swap-5.00 USD
Formula: swap = lots × swap rate in points × point size (0.00001) × contract size × quote→account rate × nights. Many brokers charge triple swap on Wednesday nights.
You enter all prices and exchange rates yourself; nothing is fetched live. Results are estimates and exclude broker-specific charges.
Who can get it and how to apply
XM's account-types page confirms the option exists on all accounts but doesn't publish eligibility criteria. A 2023 sponsored article about XM's Islamic accounts (FXEmpire) describes the process as:
Open and fully verify a live XM account.
In the Members Area, request Islamic (swap-free) status for that trading account.
Wait for confirmation, then check a symbol's specification in MT5 or the XM app. The swap rows should show zero.
The same article says there are no extra charges and no time limit on the status. Because that piece was sponsored, we treat those points as XM's own claims rather than independent findings. Confirm both in writing with support before relying on them.
Do it before you trade. Positions opened before the status is applied may already have accumulated swap. If you hold several XM accounts, request the status on each one.
Questions to ask XM before you switch
Many brokers that advertise "no fees" on swap-free accounts still have conditions in their terms. XM's public pages don't spell any out, so ask support these questions and keep the written answer:
Is there an administration or holding fee on any instrument, or after a number of nights?
Are any instruments excluded (for example exotic pairs, crypto, energies or share CFDs)?
Is there a maximum holding period before the position is closed or charged?
What counts as misuse? Brokers commonly remove swap-free status from accounts used mainly to collect interest differences, for example by hedging across two brokers.
Does the status apply to the bonus credit and all account types in my country?
If the answers include an admin fee, compare it with the swap you'd pay. A flat fee on a very short hold can cost more than the swap it replaces.
Is trading on XM halal?
This is a religious question, and scholars disagree. Swap-free status addresses one concern, riba (interest), by removing overnight interest charges and credits. Some scholars also raise questions about leverage, short selling, the immediacy of exchange (spot settlement) and speculation in CFDs, which swap-free status doesn't change. Others accept spot forex trading through a swap-free account under conditions.
We don't give rulings. If this matters to you, take the specific product terms (CFD, leverage, swap-free conditions and any admin fee) to a qualified scholar you trust. Our explainer on whether forex trading is halal sets out the main positions neutrally.
Mistakes we see with swap-free accounts
Assuming every symbol is covered. Check the specification of each symbol you trade, not just EUR/USD.
Treating swap-free as "free to hold forever". If an admin fee or holding limit exists in your terms, long-term positions are where it bites.
Forgetting the spread. Swap-free doesn't make trading cheap. On a Standard account the spread is still the main cost of a short-term trade. Our XM spreads and fees guide compares accounts.
Requesting status on one account and trading on another.
Using swap-free status to farm carry trades. It's typically a breach of terms and can lead to status removal and adjusted balances.
What we'd do
If you hold positions for more than a day or two and want to avoid interest for religious reasons, request Islamic status on an Ultra Low account straight after verification. Then get the answers to the five questions above in writing. Test the status on a small position held over a Wednesday night, the triple-swap night, and confirm that nothing was charged. If you're still choosing a broker, compare XM with others on our best swap-free brokers list. Check which XM company you'd be signing with on is XM legit, and how much you need on the XM minimum deposit page.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Full risk disclosure.
Frequently asked questions
Does XM have an Islamic account?
Yes. XM's account-types page lists an Islamic option on all accounts: Standard, Ultra Low and Shares. It is a swap-free status added to a normal account rather than a separate account type. You request it in the Members Area after your live account is verified, then check that swap shows as zero in the symbol specification.
Does XM charge a fee for swap-free accounts?
A 2023 sponsored article about XM's Islamic accounts says there are no extra charges and no spread widening. XM's public account pages don't set out the terms, so ask support in writing whether any administration fee, excluded instruments or holding-period limit applies to your account and country before you hold positions for long.
Is XM halal?
Swap-free status removes overnight interest, which addresses riba, but scholars differ on other aspects of leveraged CFD trading such as leverage, short selling and speculation. We don't give religious rulings. Take XM's specific product terms to a qualified scholar you trust before deciding whether trading on the account fits your beliefs.
Can I get swap-free status on the XM Ultra Low account?
XM says the Islamic option is available on all accounts, which includes Ultra Low. For traders who hold positions for more than a day, Ultra Low plus swap-free status combines tighter spreads with no overnight interest. Confirm the status in MT5 by checking that the long and short swap values for your symbols show zero.
How much does swap-free save on gold?
Using a September 2025 XM rate of minus $58.30 per lot per night for long gold, holding 0.10 lots from Monday to Monday costs about $40.81 in swap on a normal account, because Wednesday counts triple. With swap-free status that charge is zero. Rates change often, so check the current figure in MT5.
