Swap-free (Islamic) accounts: what is actually waived

A swap is the overnight financing charge on a leveraged position. A swap-free, or Islamic, account waives it, which is what makes the account usable under rules that forbid interest.

What is waived differs between brokers, and the difference matters: some waive the swap and charge an administration fee after a few nights instead, some limit swap-free status to certain instruments, and some grant it on request rather than by default. The broker pages here record the condition as the broker states it.

The ten below offer a swap-free account to residents of Australia.

Swap-free accounts offered (76 of 76)

29Yes

1No

46Not stated

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (22 of 76 counts · 64 brokers onboarding Australian residents)

22of 76

qualify for this ranking

29% of 76

21of 22

scored on all six axes

95% of 22

73of 76

publish a price

96% of 76

42of 76

publish a leverage figure for this country

55% of 76

Top 3 (of 3 ranked)

1Fusion Markets4.63highest score of the three · cheapest priced of the three · locally licensed 2IC Markets4.61locally licensed · withdrawal in 24 h 3HFM4.46global offshore servicing · withdrawal in 24 h

Swap-free (Islamic) accounts: what is actually waived (22 of 76)

By slice score, formula v1.0. · 22 of 64 brokers in this ranking · all 22

#	Broker	Round turn, USDAU	Min deposit, USDAU	Leverage	Withdrawal, hAU	Score	Execution	Founded	Funding
1	Fusion Markets	4.8	0	30AU	1	4.63	ECN/raw + standard	2017	2 methods · local
2	IC Markets	7	200 group	30AU	24	4.61	ECN/raw + standard	2007	3 methods · local
3	HFM	6	—	2000 groupAU	24	4.46	ECN/raw + standard	2010	—
4	Pepperstone	7	—	30AU	24	4.45	ECN/raw + standard	2010	3 methods
5	MultiBank Group	6	—	30AU	48	4.43	ECN/raw + standard	2005	—
6	FP Markets	7	—	500AU	72	4.33	ECN/raw + standard	2005	3 methods · local
7	Trade Nation	5	—	30AU	—	4.33	Standard	2014	3 methods
8	Vantage	5	50	—stated, not verified	72	4.29	ECN/raw + standard	2009	4 methods · local
9	XM	7	8 AUD	30AU	24	4.14	ECN/raw + standard	2009	2 methods · local
10	Grand Capital	5	10 group	1000AU	0.25	4.14	ECN/raw + standard	2006	4 methods
11	FxPro	3.5	—	200AU	3	4.11	ECN/raw + standard	2006	—
12	CFI	—	—	500AU	24	4.02	ECN/raw + standard	1998	—
13	OctaFX	9	25 group	500AU	3	4.01	ECN/raw + standard	2011	2 methods
14	VT Markets	6	100	500 groupAU	72	3.96	ECN/raw + standard	2015	3 methods · local
15	LiteFinance	5	—	1000AU	24	3.93	ECN/raw + standard	2005	3 methods · local
16	FXChoice	7	—	1000 groupAU	24	3.79	ECN/raw + standard	2010	—
17	Equiti	7	—	—stated, not verified	24	3.77	ECN/raw + standard	2014	2 methods · local
18	Errante	6	50 group	1000 groupAU	24	3.77	ECN/raw + standard	2019	—
19	Headway	3	—	—stated, not verified	0.5	3.76	ECN/raw + standard	2023	3 methods · local
20	FXGT	6	5 group	5000AU	72	3.58	ECN/raw + standard	2019	—
21	Alpari	8	—	500 groupAU	24	3.56	ECN/raw + standard	1998	—
22	XChief	5.5	—	1000AU	120	3.55	ECN/raw + standard	2014	—

Ten are shown; the button opens the rest.

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

FP Markets publishes a retail leverage of 1:500 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

The ten above illustrate the term. Swap-free (Islamic) brokers in Australia lists every broker that qualifies, with the figure each one publishes.

Identical for every row, so it is stated once: Who onboards Local · ASIC · Swap-free fee none, no limit · AUD account Yes.

1. Fusion Markets — highest score of the three · cheapest priced of the three · locally licensed (score 4.63)

Round turn: 4.8 USD
Withdrawal: under 1 hour; up to 1 business day
AUD account: AUD, USD, EUR
Leverage: 30AU
Accepts residents: yes
Onboarding entity: FMGP Trading Group Pty Ltd
Founded: 2017
Group leverage: uncleargroup
Instruments: Forex, CFDs, shares
Platforms: MT5cTraderWebTradingView
Funding: Cards and bank transfer
Not served: Afghanistan, Democratic Republic of Congo, Republic of Congo, Iran, Iraq, Japan, Myanmar, New Zealand, North Korea, Palestine, Russia, Spain, Somalia, Sudan, Syria, Ukraine, Yemen, United States, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, US Minor Outlying Islands, US Virgin Islands

Reviews25%85
Round-turn cost20%100
Safety
Payouts15%99
Track record10%45
Platforms70

Why it ranks here

Round turn 4.8 USD against the slice median 6 USD. strongest axis round-turn cost 100 of 100. total score 4.63.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of Fusion Markets

2. IC Markets — locally licensed · withdrawal in 24 h (score 4.61)

Round turn: 7 USD
Withdrawal: within 1 working day (and typically 3-5 business days for bank transfers to be credited)
AUD account: AUD USD EUR
Leverage: 30AU
Accepts residents: yes
Onboarding entity: IC Markets Australia Pty Ltd
Founded: 2007
Group leverage: unclear
Instruments: Forex shares indices crypto
Platforms: MT5MT4Web
Funding: Domestic transfer cards PayPal
Not served: United States of America, Canada, New Zealand, Iran, North Korea (Democratic People's Republic of Korea)

Why it ranks here

Round turn 7 USD against the slice median 6 USD. strongest axis track record 95 of 100. total score 4.61.

Watch for

Min deposit 200 USD, double the Australia median of 50; withdrawal time not published.

Full review of IC Markets

3. HFM — global offshore servicing · withdrawal in 24 h (score 4.46)

Why it ranks here

Round turn 6 USD against the slice median 6 USD. strongest axis round-turn cost 95 of 100. total score 4.46.

Watch for

Onboards Australian residents through an offshore entity: no ASIC licence, no ASIC complaints route, no AUD account.

Full review of HFM

What the data shows(22 of 76 distributions · 64 brokers)

Swap-free availability (22 of 76 brokers)

Offered30Not offered14

Admin fee after the free period (22 of 76 swap-free)

Never16After 3–30 days9not published5

Who onboards Australian residents (22 of 76 brokers)

Local ASIC entity20Offshore entity24

AUD account (22 of 76 brokers)

Yes16No23not published5

Round turn, one lot, USD (73 of 76 · median 6 USD)

9<5

575-10

310-15

315-20

120+

Full list(22 of 76)

1Fusion Markets4.63
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
4.8
Min deposit, USD
0
Leverage
30AU
AUD
Yes
2IC Markets4.61
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
200 group
Leverage
30AU
AUD
Yes
3HFM4.46
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
6
Leverage
2000 groupAU
AUD
Yes
4Pepperstone4.45
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
7
Leverage
30AU
AUD
Yes
5MultiBank Group4.43
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
6
Leverage
30AU
AUD
Yes
6FP Markets4.33
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
7
Leverage
500AU
AUD
Yes
7Trade Nation4.33
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
5
Leverage
30AU
AUD
Yes
8Vantage4.29
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
50
AUD
Yes
9XM4.14
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
8 AUD
Leverage
30AU
AUD
Yes
10Grand Capital4.14
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
10 group
Leverage
1000AU
AUD
Yes
11FxPro4.11
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
3.5
Leverage
200AU
AUD
Yes
12CFI4.02
Onboards
Local · ASIC
Swap-free
none, no limit
Leverage
500AU
AUD
Yes
13OctaFX4.01
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
25 group
Leverage
500AU
AUD
Yes
14VT Markets3.96
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100
Leverage
500 groupAU
AUD
Yes
15LiteFinance3.93
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
5
Leverage
1000AU
AUD
Yes
16FXChoice3.79
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
7
Leverage
1000 groupAU
AUD
Yes
17Equiti3.77
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
7
AUD
Yes
18Errante3.77
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50 group
Leverage
1000 groupAU
AUD
Yes
19Headway3.76
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
3
AUD
Yes
20FXGT3.58
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
5 group
Leverage
5000AU
AUD
Yes
21Alpari3.56
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
8
Leverage
500 groupAU
AUD
Yes
22XChief3.55
Onboards
Local · ASIC
Swap-free
none, no limit
Round turn, USD
5.5
Leverage
1000AU
AUD
Yes

How to read the ten below

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of Australia through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 6.0 USD and the median minimum deposit 15.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 4 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in Australia?: 22 of 76 brokers measured for this country qualify.
Which broker leads it, and on what basis?: Fusion Markets leads it with a score of 4.63. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 6.0 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.
Why are only ten brokers shown here?: This page explains the term; the ten illustrate it. The full ranking lists 22 of 76 and is one click away.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(22 of 76 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.