Learning path

Swap-free trading, step by step.

Six short steps: what swap is, what a swap-free account changes and what it does not, GIO4X's published terms, what only you can weigh, and how to try it on a demo account.

Open a swap-free demo Read the primer

Step 1 of 6

What swap is

A leveraged position held past the end of the trading day is, in effect, financed overnight. Swap is the adjustment for that financing: worked out from the interest rates of the two currencies (or the financing rate of the instrument), it is charged to the account or, less often, credited to it, for each night the position stays open.

Because it is calculated from interest rates, some traders choose not to pay or receive it. That is the reason swap-free accounts exist.

Swap, and what removing it changes · Swap in the glossary

Step 2 of 6

What swap-free means

On a swap-free account no overnight swap is charged and none is credited. At GIO4X it is a version of an existing account type, given on request with its published terms, not a separate kind of trading.

It is enforced where swap is applied: when a position on a swap-free account is closed on 777 Raptor, the nights it was held are not charged or credited swap. It is not a label on the account.

The account types with a swap-free version at the moment: Classic, Premium, ECN.

Step 3 of 6

What changes, and what does not

What changes: overnight swap, and only that.

What stays as it is:

The spread: Paid on every trade, as on any account.
Commission: Where the account type charges one, it still applies.
Leverage and margin: The position is still leveraged and still needs margin.
Stop out: A position can still be closed when the margin level falls to the stop-out level.
Index dividend adjustments: Not interest: they still apply to index positions held over a dividend.
Risk: Prices move the same way; losses can exceed what was expected.

Some providers charge an administrative fee in place of swap, or limit the number of nights; whether GIO4X does is in its published terms, the next step.

Step 4 of 6

GIO4X's published terms

Version 1 of the Islamic account policy, in force since 16 October 2026. Where a term has not been set, it says so.

Who it is for: Intended for clients who cannot pay or receive interest for reasons of religious belief. Available on request and subject to approval.
How it is granted: Request it for a trading account in the client portal and accept these terms. A demo account becomes swap-free at once; a live account is reviewed by GIO4X before the change is made.
Swap: On a swap-free account no overnight swap is charged or credited on any instrument. Index dividend adjustments, which are not interest, still apply.
Instruments excluded: None has been set.
Nights without swap: No limit has been set.
Fee in place of swap: No administrative fee has been set.
Spread and commission: The spread and any commission of the account type apply as on any account.
Trading strategies: No restriction has been set.
When it can end: It may be withdrawn where it is used to exploit the absence of swap.
Sharia review: No independent Sharia certification is claimed.

Reference dataSource: GIO4X Islamic account policy, as approved in GIO4X Control

Step 5 of 6

What to weigh yourself

GIO4X gives no religious ruling. Removing swap does not by itself make every instrument or every transaction meet any particular religious requirement: questions such as the nature of a leveraged contract, speculation and what is traded are matters on which scholars differ.

No independent Sharia certification is claimed. Whether an account suits your own requirements is for you, and an adviser you trust, to decide.

For the wider background, read Islamic finance and trading, a primer.

Step 6 of 6

Try it on a demo account

A demo account becomes swap-free as soon as you ask for it with the terms in the client portal, so you can see how a position held overnight behaves before opening a live account. A live account's request is reviewed by GIO4X first; until it is approved, swap applies.

Open a swap-free demo account The Islamic accounts page

Approval rests on your request and the published terms, never on an assumption about anyone's beliefs.

Risk warning

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

Risk disclosure

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