Islamic Account

IST Markets offers Islamic accounts (also known as swap free accounts) for clients who cannot earn or pay interest due to their religious beliefs. The swap free option** is available on both our Raw Spread and Standard account types.

We are committed to providing our clients with the best trading conditions. Our Islamic accounts offer state of the art trading infrastructure and execution speeds enabling our traders to gain a competitive edge.

forex Trading

Islamic Account

  • Trade over 90 instruments
  • 1:1000 Leverage
  • Spreads as low as 0.0 pips*
  • No additional costs in place of Swaps
OPEN ACCOUNT

Overnight Fees*

CFD positions that stay open overnight incur a small fee, relative to the value of the position. These fees reflect the forces of supply and demand driving the financial markets, including to cover costs associated with your position.

FEES ARE IN USD, PER NIGHT, PER UNIT

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We've got answers

Is IST Markets free?

You can join IST Markets for free and any registered user receives a $100,000 demo account for free.

However, like all online platforms, IST Markets charges various spreads and fees for some trades and withdrawals. To learn more, please refer to Crypto, CFDs, and Other Fees.

What is a bid/ask rate for CFDs?

Bid and ask rates are equivalent to BUY/SELL prices on IST Markets. When a position is long (BUY), the ASK rate is applied. When a position is short (SELL), the bid rate is applied.

What are overnight and weekend fees for CFDs?

CFD positions that stay open overnight incur a small fee, relative to the value of the position. It is essentially an interest payment to cover the cost of the leverage that you use overnight. Weekend fees are overnight fees that are charged for keeping positions open over the weekend. Therefore, a weekend fee is triple the overnight fee. Weekend fees are charged either on Wednesday or Friday, depending on the asset.

What is leverage for CFDs?

Leverage is a temporary loan given to the trader by the broker, enabling the trader to open a trade of a larger size with a smaller amount of invested capital. Leverage is presented in the form of a multiplier that shows how much more than the invested amount a position is worth.

For example: If you trade with no leverage at all and invest $1,000, for every 1% move in the market, you can gain or lose $10, which equals 1% of $1,000. However, if you were to invest the same $1,000 and trade using x10 leverage, the dollar value of your position would be equal to $10,000.

For further details and examples click here.

What is LIBOR?

The LIBOR is the most commonly used benchmark rate that is given by banks when charging other banks for short-term loans. LIBOR stands for London Interbank Offered Rate. There are a total of 35 different LIBOR rates posted each day, ranging from overnight to 12 months, and based on five different currencies. IST Markets uses the 1-month USD LIBOR rate for calculating overnight fees for stocks.

Can daily rollover fees, on CFDs, change?

Rollover (weekend/overnight) fees change from time to time based on global market conditions. When this happens, we will implement the changes. Please be aware that fee changes always apply to open positions. We encourage you to keep up to date with the current rollover fees/refunds by checking our fees page. Please note that fees may change without advance notice.

How are fees, on CFDs, calculated?

Spread:

Spread * Price in USD * Number of units

Overnight fees (per night):

Fee * amount of units

Where can I see the fees that I paid?

In your portfolio page, on the history tab, you can see the fees that were paid for each trade as well as aggregated fees for different periods.

Where can I see the overnight fees on CFDs that I have to pay?

Overnight fees appear at the bottom of the trade window when opening a new trade.

When do I pay overnight fees?

Overnight fees are charged every night between Monday and Friday at 17:00 EST for open CFD positions. The weekend fee (x3) is charged on Fridays for most stocks, ETFs and indices CFDs and on Wednesday for most commodities and currencies. Overnight fees for oil and natural gas are charged on Fridays.

Overnight fees for cryptocurrencies are charged daily.

For more information on overnight fees, please see What are overnight fees?

In regards to CFDs, when do I pay the spread?

As soon as you open a new trade, you will see a “loss” in the position — this is due to the spread. However, the final calculation of the spread is made when you close the position and it is adjusted at that moment, according to the closing price.

Find more FAQ’s here.

How are overnight fees calculated for trades made in euros (EUR)?

For SELL trades made in euros (EUR), overnight fees will be calculated according to 2.9% + ESTR.

For BUY trades made in euros (EUR), overnight fees will be calculated according to 6.4% + ESTR.

How are overnight fees calculated for trades made in Swiss Francs (CHF)?

For SELL trades made in Swiss Francs (CHF), overnight fees will be calculated according to a 2.9% + CHF Overnight Deposit.

For BUY trades made in Swiss Francs (CHF), overnight fees will be calculated according to a 6.4% + CHF Overnight Deposit.

What is a “bid/ask market spread”?

The market spread arises from the difference for which a product can be bought and sold (bid and ask). This difference does not arise from IST Markets and is not incurred as a cost when you buy or sell a real stock on IST Markets.

What other fees apply?

When depositing and withdrawing in non-USD currencies, a conversion fee will be incurred. Diamond members are automatically exempt from FX conversion fees. Platinum and Platinum+ members receive a 50% discount. There is also a low fixed $5 fee for withdrawals and a $10 monthly inactivity fee after 12 months with no trading activity.

Although not a fee that is levied by IST Markets, each transaction is subject to a market spread upon opening and closing. This is determined by the market and is a characteristic that is consistent across all banks and brokers. FURTHER DETAILS IN RELATION TO OUR FEES MAY BE FOUND [HERE].

Is there a minimum fee per trade?

No. Unlike other brokers, IST Markets does not charge a minimum trade or ticket fee on any of its asset types. The above-mentioned spreads or fees apply to any position, no matter how big or small.

Terms and Conditions

Fees

Swap free accounts do not pay or earn swap or interest on any trades. IST Markets Raw Spread and Standard Account commissions and spreads apply. IST Markets may, at its discretion, update fees relating to swap free accounts on its website from time to time.

Abuse and Termination

Swap free accounts are to be used in good faith and, clients may not use the swap free account to make profits from swaps or, not paying swaps. They should also note that they may not request the payment of any Swap amounts that have been lost as a result of converting their live trading Account(s) into one or more Swap free Accounts for the period during which their real trading Account(s) has/have been converted into one or more Swap free accounts.

IST Markets reserves the right to revoke an accounts swap free status without having to provide reasoning for this. If IST Markets detects that a swap free account is being abused by taking advantage of not paying swaps, in the form of, but not limited to; fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity with the usage of a Swap free Account, than we reserve the right to take immediate action in the form of;

IST Markets is a brand name of IST Markets LTD (Mauritius), IST Markets Ltd (St. Vincent and The Grenadines)