HFM Islamic Account Review
HFM is a global forex and CFD broker with a large base of clients in regions where many traders follow Islamic finance principles. For them, HFM offers swap-free trading conditions on several of its account types, so positions can be held overnight without paying or receiving swaps.
In this HFM Islamic account review, we look at how HFM's swap-free trading works, which accounts and instruments it applies to, how many swap-free days you get, and how to open an account.
Your capital is at risk. Leveraged products may not be suitable for everyone.
Terms and conditions apply. Subject to regional availability.
Understanding Islamic Trading Accounts
In standard forex and CFD accounts, positions held overnight are charged or credited a swap, which is based on interest rate differences. Islamic finance prohibits paying or receiving interest (riba), so many Muslim traders look for accounts that remove swaps altogether.
Brokers handle this in different ways. Some remove swaps with no replacement, while others charge an admin or carry charge once a position has been held for a certain number of days. Whether leveraged CFD trading is acceptable more broadly is a separate question that scholars answer differently, which our article on whether forex trading is halal explains in more detail.
How Swap-free Trading Works at HFM
HFM runs swap-free trading on two levels. All HFM clients can hold positions on selected instruments, including major currency pairs, gold and most indices, for a certain number of days without swaps, on selected trading accounts. On top of that, HFM offers swap-free conditions on specific accounts for clients who observe Sharia law.
| Accounts with swap-free option | Cent, Premium, Zero, Pro |
| Spreads | Cent and Premium from 1.4 pips, Pro from 0.6 pips, Zero from 0.0 pips on forex |
| Commission | None on Cent, Premium and Pro; Zero from $3 per side per lot |
| Minimum deposit | From $0 on Cent and Premium; Zero and Pro vary by HFM entity |
| Swap-free days | 45 on major forex pairs, gold and most indices; 0 on stocks, bonds and other metals |
| Charges instead of swaps | Carry charges on some instruments after the allowance |
| Activation | Select the appropriate account type when opening a trading account |
| Platforms | MetaTrader 4, MetaTrader 5, HFM WebTrader, HFM Platform and mobile app |
Account types, minimum deposits and conditions can differ depending on the HFM entity you register with, so check the details shown during sign up.
Swap-free Days by Instrument
Swap-free does not mean every position can be held indefinitely. HFM's instrument specifications show a swap-free days allowance for each instrument, which is how long a position can stay open without swaps. To find it on HFM's website, open Markets in the main menu, choose a market such as Metals, select your account type and click the instrument, for example XAUUSD. Its Trading Details page lists the "Swap free days allowance" for every account type in the last row of the table. When we checked in October 2026, the allowance looked like this on every account type:
| Instrument group | Swap-free days |
|---|---|
| Major forex pairs, such as EURUSD and USDJPY | 45 |
| Minor forex pairs | 45 on about half, 0 on the rest |
| Gold (XAUUSD, XAUEUR) | 45 |
| Silver, platinum, palladium | 0 |
| Indices | 45 on most |
| Stocks and bonds | 0 |
Allowances can change and may differ by HFM entity, so check the Trading Details page of the instrument you plan to trade before holding a position for longer periods.
What Happens After the Allowance
HFM states that several instruments may face carry charges after a position has been rolled over for a sequential period of days. HFM does not publish the amount of these charges, but its Swaps Calculator shows the cost of holding a specific trade, and its Rollover Policy lists which instruments are swap-free. If you plan to hold a position close to or beyond the allowance, check both first.
Swap-free Conditions for All Clients
Clients who do not observe Sharia law can also get swap-free conditions on specific accounts and instruments. HFM notes that trading mostly within the day and keeping a low number of overnight positions is the typical approach. It monitors trading history on swap-free instruments to make sure the conditions are used correctly, and reserves the right to revoke swap-free status at its absolute discretion.
Pros of HFM Islamic Accounts
- Several account types: Swap-free conditions are available on the Cent, Premium, Zero and Pro accounts, so you can choose between commission free and raw spread pricing.
- Low entry point: The Cent and Premium accounts have no minimum deposit.
- Tools to check costs: The Rollover Policy and Swaps Calculator let you check which instruments qualify and what a trade will cost before you open it.
- Wide platform choice: MetaTrader 4, MetaTrader 5, HFM WebTrader, the HFM Platform and the mobile app are all supported.
Cons of HFM Islamic Accounts
- Carry charges on some instruments: Positions held for a number of days may incur carry charges, depending on the instrument.
- Allowance varies by instrument: Swap-free days differ per instrument and some, such as silver, platinum, palladium, stocks and bonds, show none, so you need to check each instrument before holding positions for longer.
- Status can be revoked: HFM can withdraw swap-free status at its discretion.
How to Open an HFM Islamic Account
Opening a swap-free account with HFM takes a few steps:
- Register: Sign up on the HFM website with your personal details.
- Choose a swap-free account type: When opening your trading account, select the appropriate account type, such as the Cent, Premium, Zero or Pro account.
- Verify your account: Upload your identity and proof of address documents as HFM requests.
- Check your instruments: Before holding positions overnight, check the Rollover Policy and Swaps Calculator for the instruments you plan to trade.
About HFM
HFM was founded in 2010, serves more than 4 million clients and operates through several regulated entities, including the DFSA in the UAE, the CMA in Kenya, the FSCA in South Africa and the FSA in Seychelles. The protections you receive depend on the HFM entity that holds your account, and HFM has a high rating on Trustpilot from thousands of reviews.
Traders can use MetaTrader 4, MetaTrader 5 or the browser based HFM Platform on desktop, web and mobile, and all of them are available on HFM's swap-free account types. HFM offers over 500 instruments, all traded as CFDs, including more than 50 currency pairs, metals, energies, indices, shares, commodities, bonds, cryptocurrencies and ETFs. Keep in mind that swap-free conditions apply only to selected instruments, so check HFM's Rollover Policy before holding other instruments overnight.
Final Verdict
HFM is a flexible choice for Muslim traders who want swap-free conditions on a range of account types, from the Cent account with no minimum deposit to the raw spread Zero account. Its Rollover Policy and Swaps Calculator also make it possible to check costs before trading.
The main drawback is that swap-free days vary by instrument and HFM does not publish what is charged once they run out, so costs on longer trades are harder to predict. If you hold positions for longer periods, check the costs for your instruments first, or compare with the other options in our guide to the best Islamic forex brokers.
Your capital is at risk. Leveraged products may not be suitable for everyone.
Terms and conditions apply. Subject to regional availability.
Frequently Asked Questions
Yes. HFM offers swap-free trading conditions on specific accounts for clients who observe Sharia law, including the Cent, Premium, Zero and Pro accounts.
HFM states that several instruments may face carry charges after a position has been rolled over for a sequential period of days. Spreads apply as normal, plus commission on the Zero account. You can check the cost of a specific trade with HFM's Swaps Calculator.
It depends on the instrument. When we checked the Trading Details pages on HFM's website in October 2026, major forex pairs such as EURUSD and USDJPY, gold and most indices showed a swap-free allowance of 45 days, while silver, platinum, palladium, stocks and bonds showed 0. Check the Trading Details page of your instrument before trading.
Select the appropriate swap-free account type when opening your trading account, then complete verification with your identity and proof of address documents.
Yes, on specific accounts and instruments. HFM monitors trading history to make sure the conditions are used correctly and can revoke swap-free status at its discretion.
If you want fully published costs for longer trades, Exness states that no charges replace the swap on accounts in eligible Islamic countries, and Pepperstone publishes a fixed admin charge. Read our Exness Islamic account review, our Pepperstone Islamic account review, or compare all options in our guide to the best Islamic forex brokers.
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