Which brokers offer swap free accounts in the UK?
Verdict
- Pepperstone does not offer its swap-free account to UK residents; it is limited to 23 listed countries and the UK is not one of them. We still rate Pepperstone first for UK traders who close positions before the overnight charge.
- Capital.com's swap-free account is likewise limited to residents of 12 Middle Eastern and North African countries, and Trading 212 says it doesn't offer one at all.
- Tickmill, FxPro, ActivTrades and HFM have FCA-authorised UK companies and publish swap-free terms on their group sites, but we couldn't confirm that the UK companies offer them; ask before you apply.
- Swap-free is rarely free: where firms publish terms, swaps are replaced by admin or handling fees after a set number of days.
Short answer: none of the main UK firms we checked confirms a swap-free account for UK residents. Below is what each one publishes, who to ask, and how to keep overnight costs at zero on a regular Pepperstone account.
Pepperstone: no swap-free option for UK residents
Pepperstone's swap-free account is open to residents of 23 named countries, including Kuwait, Qatar, Bahrain, Oman, Egypt, Jordan, Malaysia and Turkey. The UK is not on that list, so Pepperstone Limited (FCA 684312) can't open one for you. We still recommend it to UK traders because its costs are clear and published: a Razor average of 0.1 pips on EUR/USD plus commission from £2.25 per lot per side in GBP, and no commission on spread bets. Close a spread bet before 10 pm UK time and Pepperstone charges no overnight fee on it.
Affiliate link — we may earn a commission at no extra cost to you.
What UK-regulated firms publish about swap-free
| Firm (FCA ref.) | Swap-free published? | Open to UK residents? |
|---|---|---|
| Pepperstone (684312) | Yes, for 23 listed countries | No, UK not listed |
| Capital.com (793714) | Yes, for 12 listed countries | No, UK not listed |
| CMC Markets (173730) | None found on its sites | No |
| Trading 212 (609146) | "Currently, we don't offer" | No |
| Tickmill (717270) | Yes, Classic or Raw convertible (group site) | Not confirmed for the UK company |
| FxPro (509956) | Yes, swap-free on all accounts (promo site) | Not confirmed for the UK company |
| ActivTrades (434413) | Islamic account via its Middle East desk | Not confirmed for the UK company |
| HFM (801701) | Yes, on its international site | Not confirmed for the UK company |
Swap-free rarely means cost-free
Where firms publish the detail, the swap is replaced by another charge once a position stays open long enough:
- Pepperstone, in the countries where it offers the account: an admin charge per standard lot after a trade has been held for 5 days, listed at USD 100 for FX and precious metals.
- Tickmill: fixed handling fees per lot after a set number of charge-free nights, plus a 10% yearly charge on long crypto positions after 5 days.
- Capital.com: admin fees and grace period not published.
- FxPro: no admin fee or grace period listed, but status can be revoked under its fair-usage review.
Avoiding overnight charges on a normal account
If your aim is to avoid paying or receiving interest rather than to hold positions for weeks, a regular Pepperstone account can get you there. Overnight fees on spread bets apply only to positions still open after 10 pm UK time. A day trader who closes before then pays none. For longer holds, compare the overnight fee shown on the platform with the admin fees above; over a few days, either can be the cheaper option. Whether that meets your religious requirements is a question for a scholar you trust, not a broker.
Getting a swap-free answer in writing
- Ask which company would hold your account and whether that company, not the group, offers swap-free to UK residents.
- Ask what replaces the swap, from which day, and on which instruments.
- Check whether the account changes your spreads, commission or minimum deposit.
- Confirm whether spread bets are included or only CFDs.
Sources
Swap-free terms as published by each firm.
Can a UK resident open Pepperstone's swap-free account?
No. It is limited to residents of 23 listed countries, and the UK is not among them.
Are spread bets free of overnight charges?
Only if you close them in time. At Pepperstone, spread bets held past 10 pm UK time pay an overnight fee.
Does Capital.com offer swap-free accounts in the UK?
Its swap-free terms name 12 eligible countries, all in the Middle East and North Africa. The UK is not one of them.
CFDs and spread bets are complex instruments and carry a high risk of losing money rapidly due to leverage; 73.6% of retail investor accounts lose money when trading spread bets and CFDs with Pepperstone Limited. Consider whether you can afford to take that risk. This page is not investment or religious advice; check each firm's current account terms.