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XM offers four types of Islamic, Swap-Free accounts: Micro, Standard, Ultra Low, and Shares. Swap-Free status is automatically applied to all eligible accounts in non-Islamic countries. The Client Services Team is available to assist with the account setup process.
| 🔎 Broker | 🥇 XM |
| 💰 Min. Deposit | 5 USD |
| ✒️ Regulation | FSC DFSA CySEC ASIC FSCA |
| 📈 Leverage | Up to 1:1000 (For clients under XM Global Entity) |
| 💸 Trading Fee Class | None |
| ❌ Inactivity Fee | USD 10 |
| 💳 Withdrawal Fee | None |
| 💰Trade On the Go | Access over 1000 instruments, all in one place |
| 📊Copy Trading | ✅ Yes |
| 👥Change Languages on XM | ✅ Yes |
| 📧Email address | support@xm.com |
| 🚀 Open an Account | 👉Open Account |
Overall Rating
- 4.9/5
Min Deposit
USD 5
Regulators
FSC
Trading Platform
MT4, MT5, XM App
Total Pairs
55
Islamic Account
Yes
Trading Fees
No hidden fees
Account Activation
24 Hours
XM Islamic Account – Key Point Quick Overview
Overview
XM offers Islamic, Swap-Free accounts designed to comply with Sharia Law by eliminating swap or rollover interest on overnight positions. These accounts are ideal for traders who wish to avoid interest-based transactions, offering a transparent and fair trading environment.
Key benefits include no interest charges, no spread widening, and the ability to hold positions indefinitely. Additionally, traders can access leverage of up to 1000:1, enjoy real-time market execution, and receive full support from a dedicated Client Account Manager. This account is available to traders who follow the Muslim faith.
Frequently Asked Questions
What is an Islamic, Swap-Free account?
An Islamic, Swap-Free account is designed to comply with Sharia Law, meaning it does not charge or accrue swap/rollover interest on overnight positions.
Who is eligible for an Islamic, Swap-Free account?
The Islamic, Swap-Free account is available to traders who follow the Muslim faith and adhere to Sharia Law.
What are the main features of the Islamic account?
Key features include no swap charges, no spread widening, positions can be held indefinitely, leverage up to 1000:1, real-time market execution, and access to all trading platforms with 24/5 support.
Are there any fees associated with the Islamic, Swap-Free account?
While there are no swap/rollover fees, other fees such as spreads may apply, but there are no additional charges specific to the Islamic account.
Our Verdict
The XM Islamic, Swap-Free account is a great option for Muslim traders who want to trade in line with Sharia principles. With features like no swap charges, high leverage, and full support, it provides a flexible and transparent trading experience without compromising on access to the global markets.
Overall Rating
- 4.9/5
Min Deposit
USD 5
Regulators
FSC
Trading Platform
MT4, MT5, XM App
Total Pairs
55
Islamic Account
Yes
Trading Fees
No hidden fees
Account Activation
24 Hours
How to Open an XM Account
Opening an XM Account is a straightforward 3-step process:
1. Step 1: Open an Account.
Click on the “Open an Account” button located on the XM Website.
2. Step 2: Complete the Registration.
Complete the Registration form with Basic personal information. Select an XM Account Type, set up a Password, and review all Terms and Conditions.
3. Step 3: Email Verification.
Verify the Account via the email received. Traders will be required to click on the “Validate Your Account Button” and Upload the necessary documentation.
Overall Rating
- 4.9/5
Min Deposit
USD 5
Regulators
FSC
Trading Platform
MT4, MT5, XM App
Total Pairs
55
Islamic Account
Yes
Trading Fees
No hidden fees
Account Activation
24 Hours
In Conclusion
XM’s Islamic, Swap-Free account offers a Sharia-compliant trading solution with no interest charges, making it an ideal choice for Muslim traders. With no time limits on holding positions, up to 1000:1 leverage, and 24/5 support, it ensures flexibility and convenience while adhering to Islamic principles.
This account type, along with its other trading benefits, makes XM an excellent option for those seeking a fair and transparent trading environment.
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Frequently Asked Questions
What is the minimum deposit required for an XM Islamic, Swap-Free account?
The minimum deposit requirement for an Islamic, Swap-Free account is the same as for regular accounts, which starts at USD 5.
Can I use leverage with the Islamic, Swap-Free account?
Yes, the Islamic account offers leverage of up to 1000:1.
Can I trade on the MetaTrader 4 and MetaTrader 5 platforms with an Islamic account?
Yes, the Islamic account is compatible with both MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
How can I open an Islamic, Swap-Free account with XM?
You can open an Islamic, Swap-Free account by registering through the XM website and contacting the Client Services Team to assist with the setup.
Are there any hidden fees with the Islamic, Swap-Free account?
There are no hidden fees, but standard trading fees such as spreads apply.
Can I convert my regular XM account to an Islamic account?
Yes, you can request to convert your regular account to an Islamic, Swap-Free account by contacting XM’s Client Services team.
Do I need to provide any additional documents to open an Islamic account?
You may need to verify your eligibility by submitting proof of your faith, such as a signed declaration, depending on XM’s verification process.
Is there a limit on how long I can hold positions in an Islamic, Swap-Free account?
No, there is no time limit for holding positions on an Islamic account.
What is the trading time for Islamic accounts?
Islamic accounts follow the same trading hours as standard accounts, which are available 24/5.
Can I access all XM trading tools with an Islamic account?
Yes, Islamic account holders have access to all XM tools and resources, including trading platforms, technical analysis tools, and market research.
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