Clients benefiting from interest/swap free accounts can hold their positions for an undetermined period of time without incurring any interest, however positions held for more than a week will be charged a holding fee of USD 25 (or equivalent) per lot per week. Islamic trading account conditions are offered for all account types, regardless of base currency or leverage offered.
The only determining factor to Islamic account eligibility is that the client must be of Islamic religion. Islamic accounts for speculative purposes are not tolerated.
In particular Hantec Markets does not accept that the swap-free accounts are used for any carry trades/arbitration or any other strategy to take advantage of interest differences between currencies.
In the case of abuse/suspicion of abuse, Hantec Markets may at its sole discretion decide to close all open positions and remove the swap free conditions.
Hantec Markets reserves the right to discontinue an Islamic/swap free account without warning. The Client acknowledges and agrees that in case of loss caused to Hantec Markets, due to rollovers of positions on swap-free account(s), Hantec Markets will have the right to obtain said loss from the Client by debiting any of their accounts by the amount. If the clients’ accounts hold insufficient funds to compensate, the Client agrees to wire the requested amount to their account(s) upon Hantec Markets first request. To open an Islamic Forex trading account with Hantec Markets, please complete an online account opening application form and complete and submit an Islamic/Swap Free Account Request.