XM Islamic Account (Swap-Free) — Shariah-Compliant Trading with Daily Rebate
Complete English guide on activating XM's swap-free Islamic account: eligibility, full request process, what changes on your MT5, and how rebate continues to flow under partner code TBGFX.
What Makes an XM Account "Islamic"?
In conventional forex, brokers charge or credit swap (overnight interest) when a position is held past the trading day's roll-over. This interest-based fee is considered riba and is not permissible in Islamic finance.
XM's Islamic (swap-free) account removes overnight swap entirely on most symbols. On select pairs (typically exotic crosses), XM charges a small fixed administration fee instead of swap — a service charge rather than interest, which is acceptable under most Shariah interpretations.
Who Can Apply?
XM applies these conditions before approving any swap-free request.
KYC verified XM account
Your account must be in 'Real & Verified' status. Unverified accounts cannot request swap-free.
Declared Muslim trader
XM offers swap-free as a religious accommodation. You'll need to confirm this when requesting activation.
No open positions at activation
Close any running trades before sending the request, so the new conditions apply cleanly to all future orders.
How to Activate Swap-Free on XM
- 1
Open or verify your XM account via TBGFX
If you don't have an XM account yet, register through our partner link so rebate is bound from day one. If you already have one, make sure KYC is fully approved before requesting swap-free.
- 2
Contact XM support to request swap-free status
From your registered email, message XM live chat or write to support@xm.com requesting Islamic Account (swap-free) status. Mention your MT4/MT5 number and declare your eligibility on religious grounds.
- 3
Wait for XM compliance approval
XM usually approves within a few hours up to 1 business day. You'll receive a confirmation email once your account is converted. From that moment, no swap will be charged on overnight positions.
- 4
Verify swap is set to zero
In MT4/MT5, right-click any symbol → Specification → check 'Swap Long' and 'Swap Short'. Both should display 0. If not, contact support immediately before placing trades.
- 5
Trade with rebate active
Your Islamic account still earns full TBGFX rebate on every closed lot — gold, forex, indices, crypto. Cashback continues to flow daily into MyWallet exactly like a standard account.
Fully Supported on Islamic Account
- Gold (XAUUSD) — no overnight swap, only spread
- Major & minor forex pairs (with admin fee on selected pairs)
- Indices (US30, NAS100, SPX500)
- Energies (oil, gas)
- Most metals (silver, platinum)
Restrictions to Be Aware Of
- Crypto CFDs are not available on Islamic accounts
- Some exotic pairs charge a fixed administration fee after a holding period
- Carry-trade strategies designed purely to harvest swap will be flagged
- Account misuse may revert your status back to standard
ISLAMIC + REBATE
Yes, You Still Earn Cashback
Switching to Islamic mode only removes overnight swap — it does not affect your rebate stream. As long as your account is linked to partner code TBGFX, every closed lot still generates daily cashback into MyWallet at the same rate as a standard account.
Frequently Asked Questions — XM Islamic Account
Is the XM Islamic account truly Shariah-compliant?
Yes. XM's swap-free conditions replace interest-based overnight swaps with either a zero charge or a fixed administration fee on specific instruments — designed to comply with the prohibition of riba (interest).
Do I still earn rebate on a swap-free account?
Yes. Rebate from TBGFX is paid per closed lot and is not connected to swap. Your cashback rate per instrument stays the same as a standard account.
How long does activation take?
Most requests are approved within a few hours during business days. Allow up to 1 business day for compliance to update your account.
Can I switch back to a standard account later?
Yes. Contact XM support and request reverting to standard conditions. The change is usually processed within 1 business day.
Does swap-free apply to all symbols on my account?
It applies to all standard symbols. Crypto CFDs and a handful of exotic pairs may be unavailable or carry a flat administration fee after a defined holding period.
Is there a higher spread on Islamic accounts?
No, the spread structure is identical to your base account type (Standard, Micro, or Ultra Low). XM compensates the lack of swap through small administration fees on specific instruments only.
Trade in Line With Your Values — Without Losing Cashback
Open or convert your XM account to swap-free and keep earning daily rebate from every lot you close.