XM Swap-Free Account: Which Accounts and Instruments Qualify

Traders search for an "XM swap free account" or "XM Islamic account" expecting a single switch that removes overnight swap. At XMTrading it works differently: swap-free is tied to one account type, KIWAMI, and only to certain instruments. This article explains what is covered, what is not, how to check it, what it costs you compared with other accounts, and how cashback is affected. For the general mechanics of swap-free accounts across brokers, see swap-free (Islamic) forex accounts explained.

Key takeaways

• Of XMTrading's four account types (Standard, Micro, KIWAMI, Zero), only KIWAMI has a swap-free option, and only on specific instruments, not account-wide.
• On gold, the KIWAMI symbol GOLD# shows swap 0/0 on XMTrading's precious metals page, while the Standard GOLD symbol carries a swap that changes daily.
• Swap-free works both ways: you pay no negative swap, but you also earn no positive swap. Stock index CFDs are described by XM's official guide as still carrying swap.
• Swap-free is not the same as cost-free. Compare KIWAMI's live spread against the swap you would pay on Standard for your holding period.
• Your CB-Dogs cashback depends on lots traded, not on swap. Read the per-account rate from the live table.

The short answer

XMTrading's help centre says that depending on the account type you may earn or be charged swap on overnight positions, and that traders who want to avoid swap can use the KIWAMI account, which offers swap-free trading on specific instruments. In practice:

There is no separate "Islamic account" application at XMTrading that we have been able to confirm on its public pages. If you need swap-free treatment for religious reasons, KIWAMI is the account to look at, and you should confirm with XMTrading's support exactly how it applies to your instruments and whether any eligibility declaration is needed.

Which instruments are swap-free on KIWAMI

XM's official guide for the KIWAMI account describes swap-free trading on a selected set of instruments: major and minor currency pairs, and precious metals CFDs (GOLD, SILVER and XAUEUR are named). The same page says swap points do occur when you trade stock index CFDs. The guide describes the swap-free benefit as applying to selected instruments only.

The one example we have verified directly on XMTrading's own precious metals page is gold: the KIWAMI symbol GOLD# lists swap 0/0, with a minimum spread of 2 and maximum leverage of 1000:1. For comparison, the Standard GOLD symbol listed a swap of -87.87 points long and 21.97 points short, and XMTrading says Standard swaps change daily. Swaps are charged at 00:00 GMT+2 (summer time shifts it), and tripled on Wednesday for spot FX and metals. See XM gold swap and triple swap day explained for how that looks on a Standard account.

The exact symbol-by-symbol list, and whether crypto derivatives, energies or commodities are included, we could not confirm on a primary page. Do not rely on any article, including this one, for a specific symbol. Open the instrument specification in MT4, MT5 or the XMTD TraderPro app and read the swap fields for the exact symbol before holding it overnight.

Swap-free works in both directions

XM's guide is explicit that, because the instrument is swap-free, you cannot earn positive swap either. On a normal account some currency pair directions pay you swap and some charge you. On KIWAMI's swap-free instruments both are zero. So swap-free is useful if your positions would normally pay negative swap, and neutral or slightly worse if they would have earned positive swap.

Is there a warning or removal policy?

Our existing Japanese article on swap-free warnings and removal covers this in detail for Japanese readers living overseas. The short version: XM's guide states that restrictions may be applied if actions violate the terms of service, and we found no public page that sets out specific criteria, a warning procedure or a removal schedule. Practical advice that holds regardless: use swap-free for its intended purpose (holding positions overnight without swap), do not build strategies whose sole aim is to harvest or dodge swap, and ask support if you are unsure. Trades that XMTrading deems to violate its terms can also be excluded from IB commission, and therefore from cashback.

The cost trade-off: KIWAMI spread vs swap on Standard

Removing swap does not remove cost. Compare what you would pay overall:

• KIWAMI advertises a minimum spread from 0.6 pips against Standard's 1 pip, with no commission. Minimums are not averages, and live spreads are wider. Gold shows the same pattern: minimum 2 on GOLD# against 4 on Standard GOLD (XMTrading's own units).
• Standard has no swap-free option, so overnight holds can cost swap, depending on direction and symbol. It is eligible for the deposit bonus (terms apply); KIWAMI is not.
• Day trading: if you close before the daily rollover, swap never applies, and swap-free changes nothing. KIWAMI would then matter only for its spreads.

A simple way to compare, using purely illustrative example figures: suppose a Standard swap costs a certain amount per lot per night for your direction and you hold for several nights. Add that to the Standard spread cost and compare with KIWAMI's spread cost for the same lot. Whichever total is lower for your pattern is cheaper, and the answer can flip with direction, symbol and live spreads. Use demo accounts to record live spreads: XMTrading offers demos for Standard, Zero and KIWAMI (no Micro demo), with no time limit; a demo unused for more than 60 days is closed automatically. See the KIWAMI account review for the spread comparison with Zero and Standard, and XM account types compared for all four.

Does swap-free change cashback?

No. CB-Dogs cashback is 60% of the IB commission XMTrading actually pays for your account, calculated on the lots you close, regardless of profit, loss or swap. What changes by account type is the IB commission per lot, which XMTrading sets separately for each type. The KIWAMI rate is still to be confirmed on our side, so read the current display instead of any figure written here:

Trades that XMTrading excludes from IB commission (for example trades of five minutes or less, close-by trades, and churning) earn no cashback on any account; see trades excluded from cashback. Cashback is paid in USDT on TRC20 only. The minimum withdrawal is 10 USDT, and withdrawals of 50 USDT or more are free (3 USDT fee below 50 USDT). Allow roughly three to four weeks from trade to withdrawable cashback.

Who should consider KIWAMI for swap-free

• Traders who hold positions overnight in instruments confirmed as swap-free on KIWAMI, and who would otherwise pay negative swap.
• Traders with religious requirements about interest, after confirming the exact terms with XMTrading.
• Gold position traders, after checking the live GOLD# specification.

It is a weaker fit for pure day traders, for anyone who wants the deposit bonus, and for holders of index CFDs, where swap still applies.

Does XM have a swap-free account?

Not as an account-wide setting. XMTrading's KIWAMI account is swap-free on specific instruments only. Standard, Micro and Zero are not swap-free.

Does XM have an Islamic account?

Is gold swap-free on XM?

Is XM KIWAMI swap-free on all instruments?

Does a swap-free account earn less cashback?

Summary

At XMTrading, swap-free means KIWAMI, on selected instruments, with gold's GOLD# at swap 0/0 as the verified example. Standard, Micro and Zero are not swap-free. Judge it by total cost for your holding pattern, confirm your symbol in the platform, and remember that cashback follows lots, not swap. Related reading: swap-free accounts explained, XM gold swap, triple swap day, KIWAMI account review.