I have recorded every published swap-free term for the nine brokers on this page, along with the licence status of each entity and the evidence behind what I found. All figures were checked on 18 August 2026, straight from the brokers’ own pages and documents.
Swap-free account terms compared
Swap-free Fit ranks the table. This score blends the columns we captured directly on this page (weighted 70%) with the broker’s Overall CFB Score from its full review (30%). That way a broker strong on both fronts outranks one that only shines here. Two brokers have no published CFB Score, so I cannot calculate a Swap-free Fit for them; they sit at the bottom with every figure we did capture. The weights are explained on our methodology page.
| # | Broker | Swap-free Fit | Overall | Status (Swap-free status) | Free period | UAE entity (Offered by the UAE-licensed entity) | Visit broker | More details |
|---|---|---|---|---|---|---|---|---|
| 1 | #1 Highest Swap-free Fit Equiti | 85 | 89 | Offered, terms published | 7 days for the legal Swap Free Account regime; Wednesday counts as 3 days | Yes | Visit Equiti | |
| ||||||||
| 2 |  eToro | 76 | 59 | Offered, terms published | 7 counted days; crypto days count as one each | Yes | Visit eToro | |
| ||||||||
| 3 |  CFI | 68 | 80 | Offered, terms published | Not published; condition is volume-based | Yes | Visit CFI | |
| ||||||||
| 4 |  AvaTrade | 60 | 67 | Offered, terms published | 5 days | Not stated | Visit AvaTrade | |
| ||||||||
| 5 |  ADSS | 55 | 58 | Stated, no terms published | Not published | Yes | Visit ADSS | |
| ||||||||
| 6 |  XTB | 44 | 79 | Stated, no terms published | Not published | No | Visit XTB | |
| ||||||||
| 7 |  IG | 26 | 85 | None published on pages checked | Not published | Not stated | Visit IG | |
| ||||||||
| 8 |  Century Financial | 19 | 64 | None published on pages checked | Not published | Not stated | Visit Century Financial | |
| ||||||||
| 9 |  Amana | 16 | 54 | None published by UAE-licensed entity | Not published | No | Visit Amana | |
| ||||||||
None of the nine brokers names a third-party Sharia supervisory board for its swap-free account. Each account’s religious character is the broker’s own declaration about its own product.
ADSS gives you different answers on two pages. Its Learn FAQ says it offers “both conventional trading accounts and Islamic swap-free accounts” (ADSS Learn page, checked 18 August 2026). But the linked accounts page, in English and Arabic, lists only Classic, Elite and Pro and never mentions swap-free terms (ADSS accounts page, checked 18 August 2026). I find that a stated Islamic account goes entirely undocumented. ADSS does publish separate Terms and Conditions dated May 2025 for a swap-free product limited to ten named indices, each with its own maximum lot size: “Traders can hold open trades for up to five days without paying overnight fees” (ADSS Swap Free Indices Terms and Conditions, checked 19 August 2026). Neither that document nor the 69-page client agreement uses the words Islamic or Shari’ah, and the terms do not extend to currency pairs, gold or other CFDs.
Century Financial lists a Schedule of Charges in its legal-documents index but does not expose its contents, so I cannot rule out a swap-free option inside (Century Financial legal documents, checked 18 August 2026). IG’s customer agreement says “We offer different types of accounts with different features” without publishing the list, so an unpublished arrangement remains possible (IG customer agreement, checked 18 August 2026). The bottom-tier brokers publish no swap-free account on the pages and documents I checked on 18 August 2026. This is about what is published, not what a broker might arrange on request.
Risk warning: CFDs are leveraged products. Leverage works against you as well as for you, and you may lose some or all of your deposit. A swap-free account removes the overnight swap; it does not reduce that risk. Read the broker's own client agreement and check its licence on the CMA (formerly SCA), DFSA or FSRA public register before opening an account.
1. Equiti: Fullest published swap-free terms
Equiti's swap-free mini account gives you seven days free, with Wednesday counting as three. After that, you pay 20 USD per lot per day, tripled on Wednesdays. The mini account page advertises no admin fee up to a 25,000 USD deposit cap, but the legal terms cap it at 5,000 USD. I'd want clarity before depositing. It runs on MetaTrader 5 only. Equiti Securities Currencies Brokers LLC holds CMA reference CP-0000791.
All-in cost per lot
0.7 pips round turn
Premier account, 0.0 typical plus USD 3.50 per side
Trading platforms
MT4, MT5, own platform
Minimum deposit
USD 0 (Classic)
USD 3,000 (Premier)
Regulation
CMA (formerly SCA)
CP-0000791
Pros & Cons
- AED is accepted for account denomination, deposits and local bank transfers with no fees.
- The CMA licence permits the broker to deal as principal, providing direct counterparty execution.
- A Micro account carries a minimum deposit of USD 0 and offers MT5 and WebTrader access.
- Four versions of the swap-free terms are publicly accessible, creating uncertainty about the applicable equity or balance trigger.
- The CMA retail maximum for major forex pairs is 500:1, and the broker's published maximum matches that figure.
- Classic and Standard accounts do not publish a typical or advertised EUR/USD spread.
Broker's Detail
Equiti trades in the UAE through Equiti Securities Currencies Brokers LLC on CMA (formerly SCA) reference CP-0000791, also published as SCA-era 20200000026 (Cat 1); 20200000352 (Cat 5): a dealing permission, so the UAE-licensed entity can be your counterparty, with client assets endorsed.
Licence covers: Category 1, Trading broker of OTC derivatives and currencies (spot market)
2. eToro: The only complete fee schedule published
eToro's Swap-Free Account applies a seven counted-day free period, with a triple-fee day counting as three. Then you pay a daily administration fee: 10 USD per 100,000 units on FX Tier 1, tripled on Wednesdays. There is no deposit cap. Of the nine brokers compared, eToro is the only one that publishes a complete substitute fee schedule with figures. UAE entity is eToro (ME) Ltd, FSRA (ADGM) reference FSP 220073.
All-in cost per lot
USD 11.68 round turn
0.005 percent per trade, at our declared basis
Trading platforms
eToro platform and app
Minimum deposit
USD 100 first deposit
Regulation
FSRA (ADGM)
FSP 220073
Why higher here? eToro publishes a complete substitute fee schedule with real figures, which lets a reader price the account before opening it, while its overall site score is held down by factors this page does not measure. See the ranking method ↓
Pros & Cons
- eToro publishes a full Swap-Free administrative fee schedule, the only broker of the nine in the captured set that does so.
- eToro (ME) Ltd holds FSRA (ADGM) register reference FSP 220073 with a dealing tier permission.
- The single offering account has a minimum deposit of USD 100 and charges 0 USD commission per lot per side.
- eToro states it is not licensed to offer Sharia-compliant accounts.
- The exact entity a UAE resident contracts with is still unverified.
- AED is not an account currency and is not accepted as a deposit currency; no UAE local bank detail is stated.
Broker's Detail
eToro trades in the UAE through eToro (ME) Ltd on FSRA (ADGM) reference FSP 220073: a dealing permission, so the UAE-licensed entity can be your counterparty, with no client-asset endorsement.
Licence covers: Dealing in Investments as Principal (Matched); Arranging Deals in Investments; Managing Assets; Arranging Custody in relation to Virtual Assets
3. CFI: A volume condition instead of a time limit
CFI's swap-free account skips a time-based free period and uses a volume condition instead. You must meet a minimum trading volume; CFI's own example states 10 round lots per day for each 1 lot held overnight, or the full swap is clawed back retroactively. The financing-cost exemption document avoids Islamic terminology, and CFI can revoke the account at its sole discretion without explanation. CFI FINANCIAL MARKETS L.L.C holds CMA reference CP-0000894.
Average spread
0.4 to 1.1 pips EUR/USD
Zero Commission account
Trading platforms
MT5, TradingView, own platform
Minimum deposit
No minimum stated
Regulation
CMA (formerly SCA)
CP-0000894
Why higher here? CFI publishes the terms of its exemption in a dated document rather than only stating that an account exists, which is what this page's ranking measures. See the ranking method ↓
Pros & Cons
- CFI FINANCIAL MARKETS L.L.C holds CMA Category 1 licence 20200000154.
- The CMA public register lists all four permitted activities as Active.
- CFI classifies everyone who opens an account under its UAE entity as a retail client, which carries the retail protections of the SCA rulebook.
- CFI does not publish whether swap-free accounts are available on the UAE website.
- CFI publishes two different EUR/USD spread figures for the same Zero Commission account on different pages.
- The Dynamic Trader account page states a low volume based commission but gives no commission number, and the same page contains a contradictory no additional commissions footnote.
Broker's Detail
CFI trades in the UAE through CFI FINANCIAL MARKETS L.L.C on CMA (formerly SCA) reference CP-0000894, also published as SCA-era 20200000154: a dealing permission, so the UAE-licensed entity can be your counterparty, with client assets endorsed.
Licence covers: Financial Consultations; Portfolios management; Trading broker in the international markets; Trading broker of OTC derivatives and currencies in the spot market
4. AvaTrade: Swap-free on MT4 and MT5
AvaTrade calls its swap-free account an Islamic Account and gives five days free. What replaces the swap is inconsistent: trading-info page says daily admin fees, help centre says swaps resume after five days, and it mentions an increased spread without a figure. It runs on both MT4 and MT5. I would treat the UAE entity's offering as unclear until clarified. Ava Trade Middle East Limited holds FSRA reference FSP 190018.
Average spread
0.9 pips EUR/USD typical
no commission published
Trading platforms
MT4, MT5, own platform
Minimum deposit
USD 100
Regulation
FSRA (ADGM)
FSP 190018
Why higher here? AvaTrade publishes a definite free period of five days and runs the account on both MetaTrader versions, which this page's ranking rewards, even though its material contradicts itself on what replaces the swap. See the ranking method ↓
Pros & Cons
- Swap-free account available with a five-day grace period.
- ADGM dealing licence held by Ava Trade Middle East Limited (FSP 190018).
- No commission on the single CFD offering.
- Swap-free account terms contain three conflicting statements on charges after five days.
- Broker-published leverage for gold, indices, commodities and shares exceeds FSRA retail caps.
- AED acceptance for deposits and withdrawals is not stated.
Broker's Detail
AvaTrade trades in the UAE through Ava Trade Middle East Limited on FSRA (ADGM) reference FSP 190018: a dealing permission, so the UAE-licensed entity can be your counterparty, with no client-asset endorsement.
Licence covers: Dealing in Investments as Principal (Matched); Arranging Deals in Investments
5. ADSS: Swap-free stated, terms unpublished
ADS SECURITIES - L.L.C - S.P.C says it offers Islamic swap-free accounts in its FAQ, but the accounts page lists only Classic, Elite and Pro with no swap-free terms. We read both, and a separate May 2025 T&Cs document covers only ten indices for up to five days, not forex or gold. I wouldn't plan trading around unpublished terms. The firm holds CMA reference CP-0000786.
Average spread
0.7 pips EUR/USD, from
quoted for a tier ADSS does not define
Trading platforms
MT4, MT5, own platform
Minimum deposit
USD 100 (Classic)
Regulation
CMA (formerly SCA)
CP-0000786
Why higher here? ADSS at least states a swap-free offer and backs part of it with a dated terms document, which lifts it above the three brokers on this page that publish nothing at all. See the ranking method ↓
Pros & Cons
- Holds an onshore UAE dealing licence from the CMA under reference CP-0000786.
- Supports AED deposits through UAEPGS, the Central Bank of the UAE payment gateway.
- Offers three platforms: MetaTrader 4, MetaTrader 5, and the proprietary ADSS Trading Platform.
- Swap-free trading is limited to ten indices; standard forex accounts are not swap-free.
- Typical spreads and commissions are not published for Classic, Elite, and Pro accounts.
- The exact entity a UAE retail client contracts with has not been verified.
Broker's Detail
ADSS trades in the UAE through ADS SECURITIES - L.L.C - S.P.C on CMA (formerly SCA) reference CP-0000786, also published as SCA-era 305027 (Cat 1); 20200000217 (Cat 5): a dealing permission, so the UAE-licensed entity can be your counterparty, with client assets endorsed.
Licence covers: Category 1, Trading broker of OTC derivatives and currencies (spot market)
No broker names a Sharia supervisory board
Across all nine brokers, no swap-free account is certified by a named third-party Sharia supervisory board. Every compliance statement is the broker’s own word about its own product. I find it telling that AvaTrade’s Islamic account page even warns: “Note! AvaTrade is not a legislative institution; therefore do not take this Islamic Account definition as permission to trade. Please verify all trading is in accordance with your beliefs.” (AvaTrade Islamic Account page, checked 18 August 2026). eToro answers the Sharia question directly: “No, at eToro we are not licensed to offer Sharia-compliant accounts. However, we do offer Swap-Free accounts, which have zero interest on open positions and are subject to administrative fees instead. These accounts might suit clients who require a zero-interest account due to religious beliefs and/or personal preference.” (eToro Sharia help article, checked 18 August 2026).
CFI’s UAE financing-cost exemption document never uses the words Islamic, Sharia, Shariah, halal or riba (CFI Financing Cost Exemption Form, checked 18 August 2026). The product is framed as a commercial financing-cost exemption. Amana runs an AAOIFI-based stock screening feature inside its app through the third-party provider Zoya (Amana Sharia screening help article, checked 18 August 2026). That feature screens which shares you hold; it attaches to no swap-free trading account, and you should not confuse the two.
I checked every document and found no third-party Sharia supervisory board named for any swap-free account among these nine UAE-licensed brokers, as of 18 August 2026.
Two swap-free accounts are not the UAE-licensed entity’s product
Two of the six brokers that state a swap-free account is available place it with a different entity from the one licensed in the UAE. XTB names XTB MENA Limited in its help centre as one of three entities offering swap-free accounts and puts the UAE first in its eligible-country list (XTB help centre, checked 18 August 2026). Yet every swap-free product page carries XTB International Limited, Belize, as the contracting entity (XTB swap free account, checked 18 August 2026). The registration route points to the international site, and XTB MENA Limited’s DFSA General Terms and Conditions, version 12, May 2025, contain no mention of swap free, Islamic, Sharia or Shariah (XTB MENA General Terms and Conditions, checked 18 August 2026). I would treat that mismatch as an open question until XTB makes it transparent.
Amana’s DFSA entity terms contain no swap-free provision, and clause 12.5 reserves the right to apply financing or interest rate swap on all open positions (Amana legal documents, checked 18 August 2026). The only live swap-free clause belongs to AFS Global Limited, Labuan, Malaysia (Amana Labuan client agreement, checked 18 August 2026). Amana states that all new accounts opened via its app are opened with that Labuan entity (Amana legal documents, checked 18 August 2026). The contracting entity determines which regulator your complaint goes to, so you need to know which one you are dealing with.
How long each account stays free
Three brokers publish a free period, and they all differ. AvaTrade keeps positions free of the overnight fee for five days (AvaTrade Islamic Account page, checked 18 August 2026). Equiti’s general Swap Free Account regime gives you a seven-day grace period, but a Wednesday counts as three days towards it (Equiti UAE FAQ, checked 18 August 2026). eToro counts seven days rather than calendar days: a triple-fee day counts as three, so a position opened on a Monday starts accruing the following Monday (eToro Swap-Free Account page, checked 18 August 2026). CFI publishes no free period because its condition is trading volume rather than time (CFI Financing Cost Exemption Form, checked 18 August 2026). ADSS and XTB publish no period at all, so you cannot plan around it.
Free holding period before charges begin: AvaTrade five days, Equiti seven days (Wednesday counts as three), eToro seven counted days, and CFI volume-conditional, as checked on 18 August 2026.
What replaces the swap
Removing the overnight swap relocates the cost rather than eliminating it entirely. eToro publishes the only complete fee schedule: FX Tier 1 pairs cost 10 USD per 100,000 units per day, with Wednesday triple-fee days for FX and precious metals (eToro Swap-Free fees page, checked 18 August 2026). Equiti charges you 20 USD per lot per day after the grace period, tripled on Wednesdays; its mini account advertises no admin fee while deposits stay at or below 25,000 USD (Equiti admin fee article; Equiti mini account page, both checked 18 August 2026). CFI applies a retroactive clawback if you miss the minimum volume; its worked example is 10 round lots traded per day for each 1 lot held overnight (CFI Financing Cost Exemption Form, checked 18 August 2026). That clawback can catch you out if your trading slows down.
AvaTrade’s material says two different things: the trading-info page says swap fees become daily administration fees, while the help centre says trades held more than five days are charged swaps even on swap-free accounts (AvaTrade Islamic Account page; AvaTrade swap-free help article, both checked 18 August 2026). It also states an increased spread on FX pairs without publishing a figure (AvaTrade Islamic Account page, checked 18 August 2026). Equiti reserves a right to widen spreads without publishing a figure (Equiti swap free legal document, checked 18 August 2026). Where the size of a spread increase is not published, the spread becomes the figure you compare, and our list of published spreads compared gives you that benchmark.
The overnight swap charge is removed, but the substitute can be a daily administration fee, a widened spread or a volume condition, as checked on 18 August 2026.
What a swap-free account is
A swap-free account removes the overnight swap charge that applies when you hold a CFD or spot position past the broker’s rollover point. In a normal account that charge is a financing cost. In a swap-free account the broker does not charge it at rollover. Brokers typically put another cost in its place, such as a daily administration fee, a wider spread, a time limit or a minimum volume condition. The word free describes the removed swap, not the total cost of holding the position overnight. You need to check what replaces it.
Who qualifies, and who decides
Eligibility is entirely discretionary. CFI requires an application, can refuse at sole discretion for any reason without explanation, reviews weekly, and can revoke with immediate effect, recover un-accrued swaps, close all accounts and void trades (CFI Financing Cost Exemption Form, checked 18 August 2026). Equiti refuses at discretion without reason, and you cannot have both a swap-free and a swap-enabled account open at the same time (Equiti swap free legal document, checked 18 August 2026). eToro restricts swap-free accounts to ten named countries including the UAE, limits eligibility from 30 December 2025 to two named entities, and reserves revocation at sole discretion without prior notice (eToro Swap-Free Account page, checked 18 August 2026). AvaTrade requires full verification and funding before you can apply and publishes no objective criteria (AvaTrade opening an Islamic account, checked 18 August 2026). None of the nine brokers publishes a religious or belief-based eligibility test in the documents I checked.
How each broker is licensed in the UAE
The nine brokers operate under one of three UAE financial regulators: CMA (formerly SCA), DFSA (DIFC), or FSRA (ADGM).
| Broker | Regulator | Licensed entity | Licence reference |
|---|---|---|---|
| CFI | CMA | CFI FINANCIAL MARKETS L.L.C | CP-0000894, SCA-era 20200000154 |
| Equiti | CMA | Equiti Securities Currencies Brokers LLC | CP-0000791, SCA-era 20200000026 |
| ADSS | CMA | ADS SECURITIES - L.L.C - S.P.C | CP-0000786, SCA-era 305027 and 20200000217 |
| Century Financial | CMA | Century Financial Consultancy LLC | CP-0000038, SCA-era 20200000028 and 301044 |
| Amana | DFSA | Amana Financial Services (Dubai) Limited | F003269, Category 3A |
| IG | DFSA | IG Limited | F001780 |
| XTB | DFSA | XTB MENA Limited | F006316 |
| AvaTrade | FSRA | Ava Trade Middle East Limited | FSP 190018 |
| eToro | FSRA | eToro (ME) Ltd | FSP 220073 |
Registers were checked on 17 August 2026, and eToro’s ADGM entry was confirmed directly on the ADGM public register on 18 August 2026 as Active, Matched Principal only, permitted to deal as principal in OTC derivatives with retail clients. XTB runs two UAE entities and both take clients. A plain visit to xtb.com routes by default to XTB FINANCIAL SERVICES L.L.C, reference CP-0001283 on the CMA register, which is the entity named throughout the client agreement served on that path. A separate branch at /ae-en/ contracts through XTB MENA Limited, DFSA reference F006316. The swap-free terms recorded here were read from the MENA entity’s documents. Amana Financial Services (Dubai) Limited is unrelated to the Amana construction group.
Swap-free accounts on MetaTrader
The platform a broker runs its swap-free account on decides which MetaTrader version you get. AvaTrade’s Islamic account operates inside both MT4 and MT5, and its exclusions include MT4 cryptocurrency trading (AvaTrade Islamic Account page, checked 18 August 2026). Equiti’s swap free mini account is MetaTrader 5 only (Equiti mini account page, checked 18 August 2026). If you compare MetaTrader 4 restrictions, check swap-free accounts on MetaTrader 4 for the platform conditions. Equiti’s restriction makes swap-free accounts on MetaTrader 5 the relevant platform condition for its mini account.
How we compared these accounts
Our team captured every value on this page from the broker’s own published pages and documents on 18 August 2026. No aggregator or review-site data was used. Where a broker does not publish a value, I record it as not published rather than estimate it. Four figures circulating on third-party sites could not be confirmed on any broker’s own live pages and were left out: a 0.5 pip spread widening attributed to Equiti, a belief-based eligibility test attributed to Equiti, a ten-day holding fee attributed to Amana, and an excluded-instrument list attributed to Amana. The last two trace to a domain that is now suspended. Read how we compare brokers and the wider UAE-licensed forex brokers guide.
FAQs
Is forex trading permissible under Islamic law?
Is a swap-free account actually free?
Which UAE-licensed brokers publish swap-free terms you can compare?
Can a broker take away swap-free status once it is granted?
Does a swap-free account cost more in other ways?
Which forex broker is legal in the UAE?
Do swap-free accounts in the UAE carry a Sharia certificate?
Is an Islamic account the same as a swap-free account?
Related pages
About the author
Justin Grossbard co-founded CompareForexBrokers in 2014 and serves as Co-Founder and CEO. He has traded forex since 1998. For this site he directs the research and comparison of UAE-licensed brokers. He holds Monash University degrees including a Bachelor of Commerce with Honours and a Master of Marketing. His commentary has appeared in Forbes, Kiplinger, Finance Magnates and Entrepreneur.