They are trading accounts that do not generate swaps, as the name implies. In forex, a "swap" is a fee or rollover interest charged by a broker when a trader decides to keep their position open overnight.

Swap-free trading accounts are ideal for Muslim investors because they do not pay swap interest. This explains why swap-free accounts are also known as Islamic FX accounts. After all, these are the only types of accounts that are not subject to swaps.

Swap-free accounts are frequently available to Muslim traders, though brokers may make them available to non-Muslims as well.