Swap rate is an interest paid or earned for holding a position overnight. The majority of trading instruments incur swap fees and these are charged at the end of each day, for each position held overnight.
Swap-free or Islamic accounts are accounts with no swap or rollover interests on overnight positions, as such fees are against the Islamic faith. These accounts are available only to Fondex clients who follow the Islamic faith.
How to apply for swap-free account
Open an account with Fondex
Verify your account
Download the swap-free application form
Complete the requested information
send the completed form & a proof of faith at email@example.com