Tool

Swap-free account checker

Nine factual questions about your account and your instrument. The tool does not issue a verdict and nothing here is a certification — it identifies which Shariah concerns your answers raise, explains why, and tells you what to ask your broker.

Written by Halal Trading Hub Editorial TeamReviewed by Yusuf AdamLast reviewed September 1, 2026

Read our methodology and editorial policy.

Before you start

You need four things from your own account: the swap or financing line after holding a position through rollover, how any administration fee is calculated, your leverage setting, and which instrument you trade. If you cannot answer a question, choose "Not sure" — the tool will list it as something to confirm rather than guessing for you.

Question 1

Does the account credit or debit overnight interest on positions held through rollover?

Hold a minimum position through 5pm New York and read the swap line on your statement. Zero is the only clear result.

Question 2

Has the swap been replaced by an administration or holding fee?

Common on swap-free accounts. The next question decides whether it matters.

Question 3

Is your leverage set above about 1:30?

Check your account setting, not the broker's maximum. FCA-regulated retail accounts are capped at 30:1 on major FX pairs.

Question 4

Does the leverage facility itself charge interest on the borrowed amount?

Typical of stock margin accounts at brokers; less common in retail FX, where the charge appears as swap.

Question 5

Does the instrument give you ownership or constructive possession of the underlying?

Shares bought outright and physical gold do. A contract for difference does not.

Question 6

Are you trading gold, silver or currency — where immediate settlement is required?

Gold, silver and currency are ribawi under classical fiqh: both legs must be settled without delay.

Question 7

Is the underlying business or asset itself Shariah-screened?

A conventional bank, insurer, brewer or gambling operator fails the screen regardless of your account structure.

Questions about this tool

Does this tool certify my account as halal?

No, and nothing on this site does. There is no certification process behind it. The tool identifies which Shariah concerns your answers raise and explains the reasoning, so you can take a specific question to a scholar or to your broker.

What do I need before using it?

Your account's swap or financing line from a position held through rollover, the calculation basis of any administration fee, your leverage setting, and which instrument you trade. All four are visible in your platform or on a support reply.

Why does it ask about ownership?

Some scholars, and the national Shariah bodies in Malaysia and Indonesia, treat the absence of possession or delivery as a defect in the contract itself — separate from interest. A swap-free account does not answer that objection, so the tool asks about it directly.

Is a flat fee instead of swap acceptable?

In the majority view yes, when it is genuinely flat — a fixed amount per lot or per month. A fee that grows with nights held or position size has the defining properties of interest.

Swap-free account checklist What is a swap-free account?Are administration fees riba?Halal forex by country

Reviewed 2026-09-01. Educational tool — not a certification, not financial advice.