Islamic Accounts (Swap-Free)
Thunder Markets offers Islamic (swap-free) accounts to comply with Islamic Shariah law. This is also an advantage for all traders who hold their positions for multiple days without being aware of swaps or overnight fees; thus, a trading account would not pay, or be paid for holding a position for more than one business day.
Any client who misuses this advantage by holding his floating positions for more than 7 days, taking advantage of the swap-free facility and gaining profits from swaps will be charged, bearing in mind that these fees are handled by Thunder Markets.
Furthermore, hedging a currency pair by its corresponding Future CFD and / or hedging positions on a swap based account against positions on a swap free account is forbidden, because these also represent attempts to take advantage of the swap free facility and gain profits from swaps; one direction of this kind of hedge must be closed immediately, otherwise both accounts will be subject to a daily storage fees as well.
Moreover, certain instruments will be charged Storage Fees on a daily basis as shown on the table below. If the client fails to act to avoid such practices, Thunder Markets will be required to close or take any necessary action on these accounts without prior written notice. Thunder Markets reserve the right at any point in time without prior notice to revoke the Islamic Account Status from any account.
Forex
7 Days Swap Free and then 10 USD p. Lot per day
- AUDJPY
- AUDNZD
- AUDUSD
- CADJPY
- EURAUD
- EURCAD
- EURCHF
- EURGBP
- EURJPY
- EURNZD
- EURUSD
- GBPAUD
- GBPCAD
- GBPCHF
- GBPJPY
- GBPUSD
- NZDUSD
- USDCAD
- USDCHF
- USDJPY
Metals
7 Days Swap Free and then 30 USD p. Lot per day
- XAUUSD
- XAUEUR
- XAGEUR
- XAGUSD
- XPTUSD
- XPDUSD
CFDs
7 Days Swap Free and then 5 USD p. Lot per day
- DJ30.c
- US500.c
- USTEC.c
- WTI_OIL
- USOIL.c
For all other instruments that are not mentioned on the above table, swaps are charged as per our daily swaps schedule.