What is free-swap account?

Free swap accounts, also known as "Islamic" or "swap-free" accounts, are designed to cater to traders who have religious or ethical reasons for avoiding interest charges. 

On a free swap account, overnight positions do not accrue interest, making it suitable for traders who want to avoid the interest element in their trades. However, it's important to note that free swap accounts might have other differences or restrictions compared to standard trading accounts. 

Remember that while free swap accounts do not incur interest charges, they may have other fees or commissions, and the spreads offered on currency pairs may differ. Therefore, it's essential to thoroughly understand the account terms and how they may impact your trading strategy before opening a free swap account.