Exness swap-free account: how status, costs and checks work in Pakistan

What a swap is

A swap (also called rollover or overnight fee) is an amount charged or paid when you keep a leveraged position open past the daily rollover time. It reflects the interest rate difference between the two currencies in a pair, or the funding cost of the underlying asset. Swaps can be negative (you pay) or positive (you receive).

On some instruments the swap for one weekday is charged at a higher multiple to cover the weekend. For example, XAUUSD has a triple swap on Wednesday, and USTEC has a triple swap on Friday. On a swap-free account these charges do not apply to the instruments covered by the status.

For a full explanation of swap calculation, see Swap fees.

How swap-free status works for clients registered from Pakistan

Exness assigns swap-free status by country of registration. Exness states: "Clients registered from Islamic countries are assigned swap-free status automatically."

The list of countries is: Algeria, Azerbaijan, Bahrain, Bangladesh, Brunei, Chad, Comoros, Côte d'Ivoire, Djibouti, Egypt, Indonesia, Iraq, Jordan, Kazakhstan, Kyrgyzstan, Kuwait, Lebanon, Libya, Maldives, Mauritania, Morocco, Niger, Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Tajikistan, Tunisia, Turkiye, Turkmenistan, United Arab Emirates, Uzbekistan.

Pakistan is on that list. In practice this means:

• You do not need to open a separate "Islamic account" type. The status is applied to your trading accounts automatically.
• According to Exness, all trading instruments on accounts with this status carry zero or no swap.
• The Standard account lists swap-free as a feature: swap-free available. You can read more about this account on the Standard account page.

Because conditions can change, check the current swap-free condition for your account in the Exness Personal Area or on the official Exness site before you rely on it. The Personal Area page explains where account details are shown.

Default swap-free rules for other countries

Traders registered from countries that are not on the list above get a different, default arrangement. Exness says: "Your swap-free qualification is determined by your trading activity. By default, all accounts are swap-free." In short: by default all accounts are swap-free on listed instruments; the status can be lost.

The Exness homepage describes it as: hold overnight positions for free on most popular assets; T&Cs apply.

Under this default (non-Islamic) status, swap-free covers listed instruments only:

Two points matter here:

• The default status depends on trading activity, so it can be lost. Exness does not give the exact criteria in the facts we hold; check the current terms in the Personal Area.
• If you are a Pakistani living abroad and register from another country, the rules of the country you register from may apply instead. Verification is based on residence: residence decides, e.g. a Malaysian living in Thailand is accepted, a Thai living in Malaysia is not. See Verification.

Costs that remain on a swap-free account

Swap-free means no overnight swap on covered instruments. It does not mean trading is free. These costs still apply:

• Spread is the difference between the buy and sell price. Spreads can widen in volatile markets or around news. See Spreads.
• Commission is a fixed charge per lot on Raw Spread and Zero accounts. See Commissions.
• Payment-side costs: Exness covers third-party costs; some deposit fees may apply on specific methods.

For an overview of every charge, see All fees.

Swap-free status and Islamic finance principles

Many traders in Pakistan look for an "Islamic forex account" because Islamic finance prohibits riba (interest). Since a swap is an interest-based charge, removing it addresses one concern.

However, removing the swap does not by itself make a product compliant with Islamic finance principles. Scholars also discuss other issues in leveraged CFD trading, such as:

• whether a CFD involves actual ownership or delivery of an asset;
• the use of leverage, which is effectively credit provided by the broker;
• gharar (excessive uncertainty) and speculation;
• the timing of exchange in currency transactions.

We do not give religious rulings. If this matters to you, consult a qualified scholar or Shariah adviser. For background on the principles, see Islamic finance and Payments, tax, Islamic banking.

Legal position and risk in Pakistan

Before opening any account, read the legal position for Pakistani residents:

• On remittances: per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)).
• Per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947.
• Per the SECP, offshore forex/CFD platforms operate without regulatory approval in Pakistan, and per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.

Details are on Is Exness legal and Law and regulators.

Swap-free status does not reduce market risk. Leveraged CFD and forex trading can lose money fast, and a position held for days without a swap can still move sharply against you. Read Leverage, Margin call and stop out and Risk management first.

How to check your swap status

1. Log in to the Exness Personal Area through the official site or app. See Login.
2. Check the account details and the current swap-free condition shown there.
3. In MetaTrader, right-click an instrument in Market Watch and open its specification. The swap long and swap short values show what applies to that instrument on your account.
4. If anything is unclear, ask Exness support. See Customer support.

You can test how positions behave without real money on a Demo account. Note that demo conditions may not match the swap-free status of your real account.

Frequent questions

Is there a separate Exness Islamic account?

Not as a separate account type in the facts we hold. Clients registered from listed Islamic countries, including Pakistan, are assigned swap-free status automatically on their accounts.

Do I need to apply for swap-free status in Pakistan?

According to Exness, the status is assigned automatically to clients registered from Pakistan. Check the current condition in the Personal Area.

Are all instruments swap-free for Pakistani clients?

Exness states that instruments on accounts with this status carry zero or no swap. The default status for other countries covers listed instruments only, and stocks are charged.

Can I lose swap-free status?

The default status for non-listed countries depends on trading activity and can be lost. For the automatic Islamic-country status, check the current terms in the Personal Area or on the official site.

Does swap-free mean no fees at all?

No. Spreads apply on all accounts, and Raw Spread and Zero accounts charge a commission per lot. See All fees.

Is a swap-free account halal?

We do not give religious rulings. Removing swaps addresses interest, but other questions about leveraged CFDs remain. Consult a qualified scholar; background is on Islamic finance.

Which account types can be swap-free?

The Standard account lists swap-free as available. Compare other types on Account types and confirm the status for each account in the Personal Area.