RM Investment Bank offers it’s a specific account type – Islamic Swap-Free accounts. Instead of the swap, the owners of Swap-Free accounts are charged a fixed commission, which depends only on the type of currency pair and number of open lots, but not on the issuing banks’ interest rates. This account type was created especially for the clients of Muslim belief, who are not allowed to invest in swaps because of Sharia laws.
When you change your account type to Swap-Free, all other investment conditions remain intact, and the overnight commission depends only on the instrument and the number of open lots.
"Swap-Free" service is available for the following types of MetaTrader4-based accounts: ProCent, Pro, and Pro-Affiliate.
When you change your account type to Swap-Free, the overnight commission depends only on the instrument and the number of open lots. All other trading conditions remain the same.
To enable "Swap-Free" service, you have to open a MetaTrader4-based account in your Members Area. After that, contact our Live Support one of the following ways:
A prerequisite for changing the account type to a "Swap Free" one is the absence of open positions on it.
The client has the right to decline the service at any time. To do this, contact our Live Support.
Service availability depends on the account base currency.
Please note that RM Investment Bank reserves the right to deny the client "Swap-Free" service at any time without giving any reasons and/or advance notice. In case the service is disabled by the Company, you will be charged swaps according to the conditions, specified on its official website.
When the account type is changed to "Swap-Free", no swap is charged. Instead of this, the client’s account is charged with a fixed commission amount for rolling a position over the next calendar day.
Owners of Islamic Swap-Free accounts from Malaysia and Brunei do not pay a fixed commission for a transaction if their position remains open under 10 days. If this period is exceeded, the commission will be charged in full. A Grace Period is valid for the following instruments: AUDNZD, CADCHF, CADJPY, CHFJPY, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD, GBPCAD, GBPCHF, GBPJPY, GBPUSD, NZDCAD, USDCAD, USDCHF, USDJPY, XAGUSD, XAUUSD.
|Currency pairs, Metals||Commission (USD)**|
|USDCAD, XAGUSD, XAUUSD||2,00|
|AUDNZD, CADJPY, CHFJPY, EURCHF, EURJPY, GBPJPY, USDCHF||5,00|
|CADCHF, EURGBP, GBPCAD, GBPCHF, GBPUSD||4,00|
|USDJPY, AUDCAD, AUDUSD, NZDUSD, EURUSD||8,00|
|AUDCHF, AUDJPY, NZDCAD, EURAUD, EURCAD, GBPAUD, USDRUB, EURPLN, NZDCHF, NZDJPY, USDPLN||12,00|
|EURNZD, GBPNZD, USDZAR, USDMXN, USDCNH||20,00|
|CFD (Contracts for Difference)||Commission (USD)**|
|Stock CFD||Commission (USD)**|
|TSLA, NFLX, BA||8,00|
|NVDA, ADBE, GS, BRK.B, MMM||4,00|
|FB, MCD, AAPL, CAT||5,00|
|EA, DIS, UPS, CVX, JPM, PRU, PEP, JNJ||2,00|
|MSFT, ATVI, WMT, XOM, C, PYPL, PG, PM, NKE, LLY||1,50|
|VZ, INTC, ORCL, CSCO, FOXA, SBUX, EBAY, DAL, NEM, WFC, KO, GM, PFE||1,00|
|HPE, CMCSA, BAC, GE||0,50|
** - The commission specified in the table is for 1 standard lot. The amount of the commission, which is written off every day at 12:00 AM server time, is calculated in the following way:
<Commission> = <Commission for 1 lot> * <Number of lots>