MT5 Classic+
No commissionEveryday trading, no commission
Spreads from
0.6pips
- Minimum deposit
- $10
- Commission
- None
No overnight interestMT5Best Islamic Forex Account 2025
Swap free trading. No overnight interest.
An Islamic account on MT5. Hold forex, gold and silver overnight with no swaps.
- MT5 Classic+, DirectFX, xPRIME
- 32 pairs, gold and silver
- On in a few clicks
- You must be 18 or older.
4.8 Google Play4.7 App Store1.2M+ users
Trading leveraged products such as forex and CFDs is high risk, and you can lose all of your deposit. Only trade with money you can afford to lose.
Licensed group entities
MISA, FSCA and AFSA
15+ international awards
From 2024 to 2026
MetaTrader 4 and 5
Desktop, web and mobile
500K+ app downloads
Rated 4.7 and 4.8
How it works
Built for traders who need Sharia compliant conditions
A standard account charges or pays a swap when you hold a position overnight. It is an interest adjustment based on central bank rates. On a swap free account, those swaps are switched off for covered instruments, so holding overnight adds no interest either way.
No overnight interest
No swaps charged or paid on 32 currency pairs, gold and silver.
Same markets, same platform
Trade on MT5 with the spreads and execution of the account you choose.
Switch it on yourself
Turn it on from your Personal Area in a few clicks. No paperwork to mail in.
No overnight interest on covered instruments
MT5 Classic+, DirectFX and xPRIME for eligible clients. Turn it on in a few clicks from your Personal Area.
Accounts
Choose your MT5 account
Swap free works on three MT5 account types. Pick the one that matches how you trade.
The rules
Read the full swap free termsThe rules, written plainly
No fine print surprises. This is how the swap free service works.
Who it's for
Muslim clients from countries where Islam is the state or main religion.
What's covered
32 currency pairs plus gold (XAUUSD) and silver (XAGUSD). Other instruments keep standard swaps.
How long you can hold
Up to 7 days per position. Holding longer switches the service off.
What isn't allowed
Strategies that aim to make money from interest rate differences, such as carry trades.
Where it works
MT5 accounts only. Not available on MT4 or on PAMM accounts.
Switching it off
xChief can turn the service off at any time and charge standard swaps, as set out in the terms.
Awards and recognition
Recognized worldwide. 15+ international awards.
Forex Expo Dubai named xChief's swap free offer the Best Islamic Forex Account of 2025. It is one of more than 15 international awards the broker has collected for value, trading experience and service.
International awardsFrom industry events in the UAE, Egypt and beyond, 2024 to 2026
2025Forex Expo Dubai 2025
Best IBs Program
Best Islamic Forex Account
2026Gazet International Awards 2026
The Highest Value Broker, Global
2026Gazet International Awards 2026
Best Online Forex and CFD Broker, MENA
2025ProFX Awards, Dubai 2025
Best Trading Experience Broker of the Year
2025Smart Vision Summit, Egypt 2025
Market Transformer of the Year
Join 1.2M+ users who trade with xChief
Getting started
Turn it on in four steps
- 1
Apply online
Fill in a short application to create your Personal Area.
- 2
Verify your identity
Upload your ID in the Personal Area or the xChief app.
- 3
Open an MT5 account
Choose Classic+, DirectFX or xPRIME on MT5.
- 4
Enable Swap Free
Go to My Trading Accounts, open the account settings and choose Enable Swap Free.
Trusted and regulated
A regulated broker, trusted since 2014
xChief started in 2014 as ForexChief and took its current name in 2023. More than 1.2 million users now trade with the group, supported from its Dubai headquarters and five regional offices. Every company in the group is licensed for the work it does, so you always know who holds your account.
12+
years in the markets
1.2M+
users worldwide
500K+
app downloads
15+
international awards
Holds your account
xChief Ltd
Licensed by the Mwali International Services Authority (MISA), Union of the Comoros
- License
- T2023379
- Company number
- HY00923433
Intermediary
xChief ZA (Pty) Ltd
Authorized by the Financial Sector Conduct Authority (FSCA), South Africa
- FSP number
- 54829
- Role
- Introduces clients, never your counterparty
Professional clients
xChief Central Asia Ltd
Licensed by the Astana Financial Services Authority (AFSA), Astana International Financial Centre, Kazakhstan
- Who it serves
- Professional clients only
- Office
- Astana, Kazakhstan
Dubai headquartersKazakhstanSingaporeTürkiyeIndonesiaNigeria
Look up any license number above on the regulator's public register.
How your account is protected
Client money kept separate
Client funds are held apart from xChief's own money.
Negative balance protection
Measures that help stop your account from falling below zero.
A Book STP execution
Orders pass to liquidity providers. No dealing desk trades against you.
Cover for our technical faults
If a fault on xChief's side causes you a loss, you are compensated under our terms.
No xChief funding fees
Deposits and withdrawals cost nothing on our side.
24/7 support in 20+ languages
Live chat, Telegram, WhatsApp, email and phone, at any hour.
Swap free, with a licensed broker
Your swap free account sits with xChief Ltd, licensed by the Mwali International Services Authority under license T2023379.
Platforms and app
Swap free trading on MetaTrader 5
Swap free accounts run on MetaTrader 5, on desktop, web and mobile. Manage the account, deposits and withdrawals in the xChief app.
MetaTrader 5
More timeframes and order types, on every device.
xChief app
Open and verify your account, deposit, withdraw and trade on iOS and Android.
Desktop, web and mobile
FAQ
Questions about swap free accounts
Who can open a swap free account?
Muslim clients from countries where Islam is the state or main religion can apply. The service runs on MT5 Classic+, DirectFX and xPRIME accounts.
Is there a fee instead of swaps?
You pay your account's usual spread and, on DirectFX and xPRIME, the usual commission. Check the current swap free terms before you switch it on.
Which instruments are covered?
32 currency pairs plus gold (XAUUSD) and silver (XAGUSD). Swaps on other instruments are charged the standard way.
How long can I keep a position open?
Up to 7 days. If a position stays open longer, the swap free service switches off for that account.
Can I use it on MT4?
No. Swap free is available on MT5 accounts only, and not on PAMM accounts.
Is it Sharia compliant?
It removes interest, in the form of swaps, from covered positions, which is the main requirement most traders ask about. If you follow a particular scholar's ruling, check the terms with them before you trade.
Has the xChief Islamic account won any awards?
Yes. xChief won Best Islamic Forex Account at Forex Expo Dubai 2025, and the group holds more than 15 international awards in total.
Is xChief regulated?
Yes. Client accounts are held with xChief Ltd, licensed by the Mwali International Services Authority under license T2023379. The group also includes xChief ZA (Pty) Ltd, authorized by the FSCA in South Africa as an intermediary (FSP 54829), and xChief Central Asia Ltd, licensed by AFSA in Kazakhstan for professional clients.
Open your swap free account
MT5, no overnight interest on covered instruments, and clear rules from day one.
- Licensed by MISA, license T2023379
- 15+ international awards
- 24/7 support in 20+ languages
- Clear rules from day one
Trading leveraged products such as forex and CFDs is high risk, and you can lose all of your deposit.