Islamic accounts, also known as swap-free accounts, are available for Nauru traders who wish to avoid overnight interest charges on NZD/JPY positions. Several brokers on the list offer Islamic accounts:
Pepperstone provides them on all account types,
AvaTrade offers Islamic accounts with no swap on all instruments,
Exness has swap-free options for clients in certain regions,
IC Markets offers Islamic accounts on request,
XM Group provides them with no extra fees,
OctaFX includes swap-free trading as a standard feature,
HotForex HFM offers Islamic accounts with competitive spreads,
Vantage has Islamic accounts with no swap on FX pairs,
eToro does not offer Islamic accounts, and
FBS provides swap-free conditions for qualifying traders. For Nauru traders, swap fees on NZD/JPY in standard accounts are typically calculated in pips per day — long positions pay 0.5-1.0 pips, while short positions receive 0.2-0.5 pips depending on interest rate differentials. Using an Islamic account eliminates these costs, making it ideal for swing traders holding NZD/JPY beyond a single session. Verify with your broker that Islamic accounts are available for Nauru residents and that they comply with Sharia law.