If you need an account that removes overnight swap interest, the Tickmill Islamic Account provides a swap-free option across Tickmill’s Classic account, Raw account and TradingView Raw account. Tickmill says the account is designed for traders who cannot engage in transactions involving interest for religious reasons.
The important distinction is that swap-free does not mean cost-free. Tickmill removes standard swap charges, but selected instruments can attract a daily administration or handling fee after their applicable charge-free period. The charge-free period varies by instrument, with handling fees starting after three, six or more charge-free nights depending on the instrument.
We score Tickmill using our 50-point methodology, covering its trading conditions, fees, safety and overall offering.
Risk warning: Trading financial products on margin is high risk. Losses can exceed your initial investment, so make sure you understand the risks before trading.
Tickmill Islamic account (swap-free) review
Tickmill offers a swap-free Islamic account across its Classic account, Raw account and TradingView Raw account. Instead of standard overnight swap charges, selected instruments can incur an administration fee after their applicable charge-free period.
That makes the account worth considering if avoiding interest-based overnight swaps is important to you. However, it is not a completely cost-free way to hold positions, so understanding the fees before trading is essential.
Tickmill Islamic account at a glance
Tickmill’s Islamic account keeps the core trading setup of your chosen account while removing standard overnight swap charges. Here’s the quick picture:
| Feature | Tickmill Islamic account |
|---|---|
| Account types | Classic account, Raw account, TradingView Raw account |
| Minimum deposit | $100 |
| Swap charges | None |
| Extra holding costs | Handling fees on selected instruments after the applicable free period |
| Base currencies | USD, EUR, GBP, ZAR |
| Platforms | MT4, MT5, TradingView and Tickmill Trader |
Availability can vary by account and Tickmill entity.
Does Tickmill offer a swap-free Islamic account?
Yes, Tickmill offers an Islamic swap-free account across all three live account types: Classic account, Raw account and TradingView Raw account.
Instead of standard overnight swap interest, selected positions are subject to Tickmill’s swap-free terms. Handling fees can still apply to certain instruments after their charge-free period.
With swap-free access across all three account types, Tickmill has one of the broader Islamic account offerings among the brokers reviewed by TradingCritique. Whether it meets your religious requirements is ultimately for you and your religious authority to decide.
Who is eligible for a Tickmill Islamic account?
Tickmill offers the swap-free account to traders who cannot engage in interest-based transactions for religious reasons.
- You must meet Tickmill’s standard account-opening and verification requirements.
- Tickmill does not state that you need to provide a religious certificate to apply.
- Existing Classic account and Raw account holders can request conversion through the Client Area or Support.
- Once your first account is converted, Tickmill says future accounts will also be swap-free.
Tickmill Islamic account types (Classic, Raw & TradingView Raw)
Tickmill offers swap-free options across all three live account types:
Classic account
From 1.6 pips · no commission
Spreads from 1.6 pips, with no commission.
Raw account
From 0.0 pips · $3 / side
Spreads from 0.0 pips, plus $3 per lot per side.
TradingView Raw account
From 0.0 pips · $3.50 / side
Spreads from 0.0 pips, plus $3.50 per lot per side.
The underlying pricing and trading conditions remain based on the chosen account, while standard overnight swap charges are replaced under the Islamic account terms.
Features of the Tickmill Islamic account
Tickmill’s Islamic account keeps the core trading experience unchanged while removing overnight swap charges:
How does Tickmill’s swap-free account work?
Tickmill’s Islamic account removes traditional overnight swap charges. Instead, selected instruments may incur a handling fee after their specified charge-free period.
For example, EURCZK has three charge-free nights, with the fee starting on the fourth night.
First-hand industry insight
From my years of working with FCA- and CFTC-regulated brokers, I’ve seen swap-free accounts marketed as a cost-free option when they often aren’t. Brokers may replace swap charges with an administration fee after a grace period, so long-held positions can still incur costs. For traders choosing an Islamic account, checking exactly what charges apply and when is essential. This gives traders a clearer picture of the actual cost of holding positions overnight, rather than assuming swap-free means fee-free.
Swap-free policy and overnight charges explained
Swap-free doesn’t mean cost-free. The main difference is what happens when you hold a position overnight:
| Standard account | Islamic account |
|---|---|
| Overnight swap charges may apply | No traditional swap charges |
| Swap is based on the applicable instrument | A handling fee may apply to selected instruments |
| Costs can build while positions remain open | Handling fees start after the instrument’s charge-free period |
Swap-free is not cost-free
EURCZK has three charge-free nights, with the handling fee starting on the fourth night. The exact charge-free period varies by instrument. If you plan to hold trades for several days, check the instrument-specific handling fee before opening the position.
Tickmill Islamic account fees, spreads & commissions
The Islamic account keeps the same pricing as the underlying account, so swap-free does not mean fee-free.
- Classic account: Spreads from 1.6 pips, no commission.
- Raw account: Spreads from 0.0 pips + $3 per lot per side.
- TradingView Raw account: Spreads from 0.0 pips + $3.50 per lot per side.
- Handling fees: Selected instruments may incur a daily fee after their charge-free period.
- Unused funds: Islamic accounts are excluded from Tickmill’s interest-on-unused-funds programme.
So, before holding a position overnight, check both the account’s normal trading costs and any applicable Islamic handling fee.
Tradable markets available on Islamic accounts
Tickmill’s Islamic accounts give traders access to a broad range of markets:
- Forex: 62 currency pairs, including major, minor and exotic pairs.
- Indices: US30, S&P 500, NASDAQ 100, FTSE 100 and DAX 40.
- Commodities: Metals, energy and agricultural commodities.
- Stocks: CFDs on companies such as Apple, Tesla, Amazon and Microsoft.
- Digital currencies: Bitcoin, Ethereum and Litecoin, with a five-day swap-free period for new positions.
However, swap-free does not mean fee-free indefinitely. Selected instruments can incur handling fees after their charge-free period. For Classic Swap-Free accounts, XAUUSD is among the instruments where handling fees start from day 41.
How to open a Tickmill Islamic account
Opening a Tickmill Islamic account is straightforward:
For existing clients, once your first account is converted to Islamic status, any future accounts you open will also be swap-free.
Documents required and account verification
Tickmill requires standard KYC verification when opening an account. You may need to provide:
- Proof of identity, such as a valid passport or national ID.
- Proof of address, such as a recent utility bill or bank statement.
- Any additional information Tickmill requests during its verification process.
There is no need to assume a separate religious document is required for an Islamic account. Tickmill reviews the Islamic account request through its normal account process.
Tickmill Islamic account rules and terms
The main terms to keep in mind are:
- Instrument-specific grace period: Selected instruments have a charge-free period before handling fees may apply, with the duration varying by instrument.
- Daily handling fee: After the grace period, applicable instruments can incur a daily administration charge.
- No indefinite free carry: Swap-free does not mean positions can be held without ongoing costs.
- No interest on unused funds: Islamic accounts are excluded from Tickmill’s interest-on-unused-funds programme.
- Base account terms remain: Your usual spreads, commissions and other trading conditions still apply based on the account type you choose.
One thing to keep in mind: Tickmill’s Islamic account removes traditional swap charges, but other trading and holding costs may still apply.
Tickmill Islamic account vs standard account
The main difference is how overnight positions are charged. Here’s a quick comparison:
| Feature | Islamic account | Standard account |
|---|---|---|
| Overnight swap | No traditional swap | Swap charges may apply |
| Holding costs | Handling fee may apply on selected instruments after the charge-free period | Standard swap rates apply |
| Spreads & commissions | Based on the chosen account type | Based on the chosen account type |
| Long-term positions | Check instrument-specific handling fees | Check applicable swap rates |
| Best suited for | Traders who need a swap-free setup | Traders comfortable with standard overnight costs |
Pros and cons of the Tickmill Islamic account
Here are the main pros and cons to consider:
PROS
Swap-free setup across Classic, Raw and TradingView Raw.
$100 minimum deposit.
Same platforms and instruments as standard accounts.
No traditional overnight swap charges.
CONS
Daily administration charges may apply to selected instruments after their applicable charge-free period.
Excluded from the interest-on-unused-funds programme.
Standard spreads and commissions still apply.
No published scholarly Sharia certification.
Conclusion
Tickmill offers a swap-free option across its Classic, Raw and TradingView Raw accounts, although holding costs can still apply to selected instruments. At TradingCritique, we rate Tickmill 8.25/10 (TC Validated), recognising its broad account coverage and clear pricing.
If you’re considering the account for religious reasons, review the applicable charges and confirm whether it meets your requirements with your own religious advisor.
Pro Tip
Tickmill’s Islamic account is swap-free, but not completely cost-free. Before holding a position overnight, check the instrument’s charge-free period and any applicable handling fee.
Frequently Asked Questions
1. Does Tickmill offer an Islamic (swap-free) account?
Yes, Tickmill offers swap-free Islamic accounts across its Classic, Raw and TradingView Raw accounts for traders who avoid interest-based transactions for religious reasons.
2. Is the Tickmill Islamic account available on all account types?
Yes, the swap-free option is available across the Classic account, Raw account and TradingView Raw account.
3. How do I open a Tickmill Islamic account?
New clients can apply during account opening, while existing clients can request Islamic status through their Client Area or Tickmill Support.
4. Who is eligible for a Tickmill Islamic account?
Tickmill states that the account is intended for traders who cannot engage in interest-based transactions for religious reasons. Standard verification requirements also apply.
5. Is the Tickmill Islamic account completely swap-free?
It has no standard swap charges, but selected instruments may have handling fees after their charge-free period.
6. Does Tickmill charge any fees on its Islamic account?
Yes, spreads or commissions still apply, and selected instruments may incur handling fees after the charge-free period.
7. What happens if I hold a position for more than three nights?
It depends on the instrument. Some have three charge-free nights, with handling fees starting from the fourth night. Others may have longer charge-free periods.
8. Which trading platforms support the Tickmill Islamic account?
The Islamic offering supports MT4, MT5, TradingView and Tickmill Trader, depending on the account type and Tickmill entity.
9. What is the difference between a Tickmill Islamic account and a standard account?
Standard accounts may charge overnight swaps. Islamic accounts remove standard swaps but can apply instrument-specific handling fees after the relevant charge-free period.
10. Is the Tickmill Islamic account worth choosing for Muslim traders?
Tickmill offers a swap-free structure, but does not publish a specific scholarly certification. Check whether it meets your religious requirements with your own religious advisor.
