How To Open swap free Account in EXNESS

A swap-free account, also known as an Islamic account, is designed for traders who follow Islamic finance principles and wish to avoid swap fees (interest) on overnight positions. Exness offers swap-free trading accounts upon request for eligible clients, making it easy to trade in compliance with Sharia law.

Here’s a step-by-step guide to opening a swap-free account on Exness:

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Step 1: Visit the Official Exness Website

1. Navigate to the Exness official website.

2. Confirm you are on the official site to protect your personal data.

Step 2: Create an Exness Account

1. Click on the "Open Account" button at the top of the page.

2. Fill in the registration form:

   • Full Name: Match it with your official ID.

   • Email Address: Use a valid and frequently accessed email.

   • Phone Number: Enter your active mobile number.

   • Password: Set a secure password.

3. Agree to the terms and conditions, then click "Register" to create your account.

Step 3: Verify Your Account

To activate all features and ensure compliance, complete the KYC (Know Your Customer) process:

1. Submit Identity Documents:

   • Government-issued ID (passport, national ID, or driver’s license).

2. Proof of Address:

   • Utility bill, bank statement, or rental agreement not older than six months.

3. Exness will also send a verification code to your email or phone to confirm your contact details.

Step 4: Open a Trading Account

1. Log in to your Exness dashboard.

2. Go to the Accounts section and click on "Open New Account".

3. Select your preferred account type (e.g., Standard, Pro, Zero, or Raw Spread).

4. Configure your account settings:

   • Leverage: Select the leverage ratio (up to 1:2000, depending on your region).

   • Currency: Choose your base currency (e.g., USD, EUR).

Step 5: Request Swap-Free Status

1. Once your trading account is created, contact Exness Support through:

   • Live Chat: Available on the Exness website or app.

   • Email: Reach out to their support team at support@exness.com.

2. Request for swap-free status (Islamic account) and provide necessary details:

   • Your account number.

   • A declaration of your intent to follow Islamic finance principles.

Step 6: Approval of Swap-Free Status

1. Exness will review your request and verify your eligibility.

2. Once approved, your account will be converted to a swap-free account.

3. You’ll receive a confirmation email or notification in your dashboard.

Step 7: Fund Your Account

1. Go to the Deposit section in your dashboard.

2. Select a payment method:

   • Bank transfers

   • Credit/Debit cards

   • E-wallets (e.g., Skrill, Neteller)

   • Cryptocurrency

3. Deposit the minimum required amount for your selected account type.

Step 8: Download a Trading Platform

1. Download and install your preferred trading platform:

   • MetaTrader 4 (MT4) or MetaTrader 5 (MT5).

   • Exness mobile apps or the web terminal.

2. Log in using your account credentials.

Step 9: Start Trading

With your swap-free account active, you can trade without worrying about overnight swap fees. Utilize Exness’s tools and resources to enhance your trading experience.

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Features of Exness Swap-Free Accounts

1. No Swap Fees: Suitable for traders following Islamic finance principles.

2. Wide Range of Instruments: Access forex, commodities, indices, and more.

3. Flexible Account Types: Swap-free status can be applied to Standard, Pro, Zero, or Raw Spread accounts.

4. High Leverage: Up to 1:2000, depending on your region.

5. Fast Execution: Suitable for scalping and long-term strategies.

Tips for Using a Swap-Free Account

1. Understand Restrictions: Swap-free status may apply to specific instruments only.

2. Monitor Trading Conditions: Stay updated on changes to swap-free policies for certain regions.

3. Use Risk Management: Utilize stop-loss and take-profit tools to manage trades effectively.

4. Stay Informed: Keep track of Islamic finance rules and ensure your trading remains compliant.

By following these steps, you can successfully open and manage a swap-free account with Exness, aligning your trading practices with Islamic principles while enjoying professional-grade trading tools and features. Happy trading!