An XM Islamic account is a swap-free account structure for eligible clients who cannot pay or receive overnight interest. You open a normal eligible account first, complete verification, then request swap-free status from XM where available.
Direct answer
An XM Islamic (swap-free) account replaces overnight swap interest with a flat administration fee on positions held past a grace period. It is offered to clients in countries with significant Muslim populations and to individual clients who request swap-free status with a religious reason. You cannot open an Islamic account directly — the workflow is: open a normal Standard or Micro account, complete KYC, then request swap-free conversion through support or the Members Area. The $30 bonus, lot-volume rules and withdrawal policy all apply identically; only the swap mechanism changes.
Islamic vs. Standard XM accounts
| Feature | Standard XM account | Islamic (swap-free) |
|---|---|---|
| Overnight swap | Charged or credited (interest) | Replaced by flat admin fee |
| Grace period before fee | N/A | Typically a few days, then admin fee applies |
| Spreads | Same as account type | Same as the underlying account type |
| Leverage | Up to 1:1000 (entity / instrument dependent) | Same |
| Current bonus eligibility | Country-specific | Country-specific (verify the live offer card) |
| Lot-volume requirement | Same | Same |
| Eligibility | Open to anyone XM serves | Country / religious reason gated |
How to enable swap-free in 4 steps
Open a Standard or Micro account
You cannot open an Islamic account directly. Start with a normal eligible account so the $30 bonus path remains intact.
Complete KYC
Upload ID and proof of address. Without verification, the conversion request will not be processed.
Request swap-free conversion
Open the Members Area or contact support and ask for the account to be marked Islamic / swap-free. State the reason if asked. Eligibility is decided per account, not per profile.
Confirm the change in the contract specs
After approval, MT4/MT5 contract specifications should show no overnight swap on the symbols you trade. Verify before placing an overnight position to avoid surprise admin fees.
Common mistakes with XM Islamic accounts
- Believing "swap-free" means "fee-free" — XM replaces swap with a flat admin fee on long-held positions.
- Trying to open an Islamic account directly. Workflow is always: standard account first, swap-free conversion second.
- Picking Zero or Ultra Low to combine with swap-free, then losing the $30 bonus eligibility (those types are not bonus-eligible).
- Holding positions past the grace period and assuming swaps are still zero — admin fee starts after the grace window.
- Assuming Islamic status carries between entities; it is account-level and tied to the entity that serves you.
Check the current XM bonus in your country
Country-specific deposit bonus ? Members Area verification required ? Bonus credit is not cash
FAQ
What is an XM Islamic account and how do you open it?
An XM Islamic account is a swap-free account structure for eligible clients who cannot pay or receive overnight interest. You open a normal eligible account first, complete verification, then request swap-free status from XM where available.
What should I verify before acting?
Check your XM Members Area, account entity, country eligibility, KYC status and the current promotion terms before trading or requesting withdrawal.
Is this financial advice?
No. This is an editorial guide to broker terms and workflow. Forex and CFD trading carries a high risk of loss.