When trading forex, many traders prefer to avoid swap fees, which are overnight interest charges applied to positions held past the trading day. For traders who follow Islamic finance principles, paying or receiving interest is prohibited, making swap-free accounts an essential feature.

Exness, a globally trusted forex broker, offers swap-free accounts to eligible traders, including those in Kenya. These accounts allow traders to keep positions open overnight without incurring interest-based rollover charges. Whether you are a Muslim trader looking for Shariah-compliant trading or simply want to avoid swap fees for long-term trades, Exness provides a solution with competitive trading conditions.

What is a Swap-Free Account?

A swap-free account is a type of trading account that does not incur swap or rollover fees when a trader holds a position overnight. In traditional forex trading, swap fees are interest charges applied when a trade remains open past the daily market close, based on the interest rate differentials between two currencies in a forex pair.

How Do Swap Fees Work?

  • When a trader holds a position overnight, they either pay or receive interest, depending on the currency pair and direction of the trade (buy or sell).
  • Swap fees are calculated based on interbank interest rates and can either be a credit or a charge to the trader’s account.

Why Use a Swap-Free Account?

  • Complies with Islamic finance – Swap-free accounts are Shariah-compliant, meaning they do not involve interest payments, making them suitable for Muslim traders.
  • Cost-effective for long-term traders – Traders who hold positions for days or weeks can save money by avoiding swap fees.
  • Predictable trading costs – Without swap charges, traders can better manage their risk and calculate profits more accurately.
What is a Swap-Free Account?

Who Needs a Swap-Free Account?

  • Muslim traders who follow Islamic finance principles.
  • Traders who hold positions long-term and want to reduce costs.
  • Kenyan traders looking for an alternative to traditional trading accounts with swap fees.

Does Exness Offer Swap-Free Accounts?

Yes, Exness offers swap-free accounts for traders who meet specific eligibility criteria. This feature is available in certain account types, and traders from eligible regions, including Kenya, can apply for a swap-free account.

Which Exness Account Types Support Swap-Free Trading?

Exness provides swap-free trading on the following accounts:

Which Exness Account Types Support Swap-Free Trading?
  • Standard Account
  • Standard Cent Account
  • Pro Account
  • Raw Spread Account
  • Zero Account

Who Can Use Exness Swap-Free Accounts in Kenya?

Exness swap-free accounts are available to Kenyan traders who meet specific criteria. These accounts are designed for traders who want to avoid overnight swap charges, making them particularly beneficial for those following Islamic finance principles or traders who prefer long-term strategies.

Muslim Traders (Shariah-Compliant Trading)

Kenya has a significant Muslim population, and many traders prefer to adhere to Islamic finance principles, which prohibit earning or paying interest (Riba). Exness swap-free accounts allow Muslim traders to trade without interest-based fees, ensuring their trading remains Shariah-compliant.

Why Swap-Free Accounts Benefit Muslim Traders:

  • No overnight interest (Riba), ensuring Halal trading.
  • Same market conditions as regular accounts (with minor adjustments on some instruments).
  • Access to forex, metals, and other trading assets without swaps.

Long-Term Traders (Position Traders & Swing Traders)

Some Kenyan traders use long-term trading strategies, such as position trading and swing trading, where positions remain open for several days or weeks. These traders can benefit from swap-free accounts because they:

  • Avoid accumulating swap charges over extended periods.
  • Reduce trading costs and maximize profitability.
  • Trade forex, metals, indices, and other assets with better cost management.

Traders from Eligible Countries & Regions

Exness automatically grants swap-free status to traders from specific countries or regions where Islamic finance is widely practiced. Kenyan traders in these regions may qualify for a swap-free account based on their location.

How to Open a Swap-Free Account on Exness?

If you are a Kenyan trader looking to trade without overnight interest fees (swap charges), Exness offers swap-free accounts. Whether for Islamic trading (Shariah-compliant) or to reduce long-term trading costs, opening a swap-free account with Exness is a simple process. Follow the steps below to get started.

Register or Log into Exness

  1. Go to the Exness website – Visit www.exness.com.
  2. Sign up – Click “Register” and fill in your details (email, phone number, password).
  3. Verify your account – Upload required documents (ID/passport and proof of residence) for account verification.
  4. Log in – If you already have an account, log in to your Exness Personal Area.

Open a New Trading Account

  1. Navigate to “My Accounts” in the Exness dashboard.
  2. Click “Open New Account” and select a preferred account type:
    • Standard Account
    • Pro Account
    • Zero Account
    • Raw Spread Account
  3. Choose your preferred trading platform (MT4 or MT5).
  4. Select account currency (e.g., USD, KES, EUR).
  5. Set your leverage preferences.
How to Open a Swap-Free Account on Exness?

Check for Swap-Free Eligibility

Some traders from Muslim-majority regions, including Kenya, may automatically qualify for swap-free trading.

To check if your account is swap-free:

  1. Go to “Account Settings” in your Personal Area.
  2. Look for the “Swap-Free” option – if enabled, your account is already swap-free.

Request Swap-Free Status (If Not Automatically Applied)

If your account is not swap-free, you can request it manually:

Request Swap-Free Status (If Not Automatically Applied)
  1. Contact Exness Customer Support via live chat or email.
  2. Explain that you want a swap-free account due to Islamic finance compliance or long-term trading strategies.
  3. Exness will review your request and approve if eligible.

Start Trading Without Swap Fees

  • Once approved, your account will be swap-free, and no overnight interest charges will apply.
  • Open forex, metals, and other asset trades without worrying about swap costs.
  • Manage your long-term trading strategies efficiently.

Trading Instruments Available for Swap-Free Accounts

Exness allows swap-free trading on a variety of instruments, including:

  • Forex pairs (Major, Minor, and Exotic currencies)
  • Metals (Gold, Silver, Platinum, Palladium)
  • Energies (Oil and Natural Gas)
  • Stocks & Indices (Limited availability on swap-free terms)

Benefits of Using a Swap-Free Account with Exness

  • No Overnight Fees – Keep trades open longer without extra costs.
  • Shariah-Compliant Trading – Ideal for Muslim traders in Kenya.
  • Access to Multiple Markets – Trade forex, metals, and more.
  • Low Spreads & Fast Execution – Competitive trading conditions.

Important Considerations Before Using a Swap-Free Account

  • Not all assets are swap-free – Some instruments may have other fees.
  • Check eligibility – Not all traders qualify for a swap-free account.
  • Read the terms – Ensure swap-free trading fits your strategy.

Conclusion

Exness offers swap-free accounts, making it a great choice for Kenyan traders who want to trade without overnight interest charges (swap fees). Whether you are a Muslim trader looking for Shariah-compliant trading or a long-term trader aiming to reduce costs, Exness provides flexible and transparent swap-free options across various account types.

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