Which brokers offer swap-free accounts with no additional fees? IC Markets vs. XM Arabia as examples 

“Swap-free” sounds simple: a trader keeps a position open overnight without paying the traditional rollover or interest charge. In practice, however, brokers can replace swaps with other costs, making the structure behind the label more important than the label itself. 

XM and IC Markets provide a useful example.

XM Arabia’s website indicates that its Ultra Low account offers swap free trading without any additional conditions.

IC Markets takes a different approach. Its swap-free accounts remove traditional swap and interest, but the broker explicitly applies flat-rate holding fees per lot to overnight positions once the applicable grace period expires. 

The Difference in Swap-Free Accounts Between XM Arabia and IC Markets

The difference becomes clearer in the numbers. 

IC Markets currently lists holding fees of $10 per lot for EURUSD, $67 for XAUUSD Gold and $41.85 for BTCUSD. WTI and Brent are charged $5 and $13 respectively. While many instruments receive up to five grace days, WTI, Brent and Natural Gas receive no grace period, meaning holding fees can begin from the first applicable overnight rollover. 

This is the central distinction: XM Arabia does not apply an equivalent fixed, per-lot holding-fee schedule to its swap-free offering. So, in practice, traders with XM can hold eligible positions for extended periods without incurring a flat holding charge, whereas IC Markets applies a fixed-rate fee to applicable swap-free positions.

Trading Swap-Free: The Verdict

For traders who regularly hold positions overnight, particularly across forex and multiple asset classes, XM therefore appears the more attractive option overall, because fixed overnight holding charges are not applied. 

Open an account now with XM.

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