These Swap-Free Trading Terms are issued by Genie Ltd, an entity registered and operated in Saint Lucia, and apply only to clients who have been approved for a Swap-Free Trading Account.
These Swap-Free Terms supplement the general Terms and Conditions governing the trading relationship between Genie and its clients and apply exclusively to approved Swap-Free Accounts.
Swap-Free status is subject to Genie’s approval, ongoing monitoring, and the client’s continued compliance with these Terms and the general trading Terms.
A Swap-Free Account allows eligible clients to trade designated instruments without the application of traditional rollover interest, storage charges, or overnight financing fees on qualifying products when positions remain open across the platform rollover time of 23:59:59 to 00:00 platform time. Genie’s default account type includes standard swap charges, and clients who require Swap-Free treatment must request it separately, subject to eligibility review and approval by Genie. Eligible instruments generally include major and minor forex pairs as well as selected metals such as gold and silver, while other instruments may become subject to administrative charges if held overnight.
A Swap-Free Account allows eligible clients to trade designated instruments without the application of traditional rollover interest, storage charges, or overnight financing fees on qualifying products when positions remain open across the platform rollover time of 23:59:59 to 00:00 platform time. Genie’s default account type includes standard swap charges, and clients who require Swap-Free treatment must request it separately, subject to eligibility review and approval by Genie. Eligible instruments generally include major and minor forex pairs as well as selected metals such as gold and silver, while other instruments may become subject to administrative charges if held overnight.
Instead of conventional swap charges, Genie may apply an administrative fee when positions remain open overnight beyond the defined Grace Period. This fee replaces the interest component normally associated with rollover. The administrative fee is variable and may depend on liquidity provider costs and prevailing market conditions. Because Genie operates under a Straight-Through Processing (STP) model, charges imposed by liquidity providers may be reflected accordingly in client accounts. Positions held longer than the permitted Grace Period may incur a daily administrative fee regardless of whether the position is long or short, and if a position already exceeds the Grace Period when these Terms come into effect, the applicable administrative fee may be applied immediately without further notice.
Instead of conventional swap charges, Genie may apply an administrative fee when positions remain open overnight beyond the defined Grace Period. This fee replaces the interest component normally associated with rollover. The administrative fee is variable and may depend on liquidity provider costs and prevailing market conditions. Because Genie operates under a Straight-Through Processing (STP) model, charges imposed by liquidity providers may be reflected accordingly in client accounts. Positions held longer than the permitted Grace Period may incur a daily administrative fee regardless of whether the position is long or short, and if a position already exceeds the Grace Period when these Terms come into effect, the applicable administrative fee may be applied immediately without further notice.
Swap-Free clients may hold certain qualifying instruments without administrative charges during the Grace Period, which is five trading days from the date the position is opened. After that period, an administrative fee may apply daily to overnight positions. Administrative fees are deducted from the Equity of the client’s trading Account at the end of the trading day and may affect both account equity and available margin. Clients remain solely responsible for monitoring their accounts and maintaining sufficient margin to support open positions.
Swap-Free clients may hold certain qualifying instruments without administrative charges during the Grace Period, which is five trading days from the date the position is opened. After that period, an administrative fee may apply daily to overnight positions. Administrative fees are deducted from the Equity of the client’s trading Account at the end of the trading day and may affect both account equity and available margin. Clients remain solely responsible for monitoring their accounts and maintaining sufficient margin to support open positions.
Clients must not use a Swap-Free Account primarily to exploit differences in swap pricing or to generate profit through swap-related strategies. Where a standard account is converted into a Swap-Free Account, any swap credits that would otherwise have arisen during the conversion process may not be recoverable. Genie reserves the right to take action if misuse, manipulation, arbitrage, fraudulent activity, or any other abusive trading behavior is identified. In such cases, Genie may rely on any remedies available under the general Terms, remove Swap-Free status immediately, cancel affected trades and declare resulting profit or loss void, recover unpaid swap-related costs or administrative expenses, or terminate the Swap-Free Terms without notice or court intervention.
Clients must not use a Swap-Free Account primarily to exploit differences in swap pricing or to generate profit through swap-related strategies. Where a standard account is converted into a Swap-Free Account, any swap credits that would otherwise have arisen during the conversion process may not be recoverable. Genie reserves the right to take action if misuse, manipulation, arbitrage, fraudulent activity, or any other abusive trading behavior is identified. In such cases, Genie may rely on any remedies available under the general Terms, remove Swap-Free status immediately, cancel affected trades and declare resulting profit or loss void, recover unpaid swap-related costs or administrative expenses, or terminate the Swap-Free Terms without notice or court intervention.
Genie reserves the right, at its sole discretion and without providing a specific explanation, to reject a request for a Swap-Free Account or withdraw Swap-Free status from an existing account, in which case the account may revert to a standard swap-enabled account. If the client does not accept that change, the client may terminate the trading relationship under the general Terms. Terms and expressions not specifically defined in these Swap-Free Terms carry the meaning given to them in the general Terms. These provisions are governed by and interpreted in accordance with the laws of Saint Lucia, and where translated into another language, the English version prevails in the event of any conflict. The general Terms form an integral part of these Swap-Free Terms, and all rights, powers, and protections available to Genie under the main agreement remain valid and enforceable.
Genie reserves the right, at its sole discretion and without providing a specific explanation, to reject a request for a Swap-Free Account or withdraw Swap-Free status from an existing account, in which case the account may revert to a standard swap-enabled account. If the client does not accept that change, the client may terminate the trading relationship under the general Terms. Terms and expressions not specifically defined in these Swap-Free Terms carry the meaning given to them in the general Terms. These provisions are governed by and interpreted in accordance with the laws of Saint Lucia, and where translated into another language, the English version prevails in the event of any conflict. The general Terms form an integral part of these Swap-Free Terms, and all rights, powers, and protections available to Genie under the main agreement remain valid and enforceable.
By opening or using a Swap-Free Account, the client acknowledges and agrees that Genie may apply charges for overnight positions in accordance with these Terms and prevailing market conditions, that spreads and commissions on Swap-Free Accounts may differ from those of standard accounts and may be wider where necessary, that Swap-Free Accounts are subject to ongoing monitoring and periodic compliance checks, and that certain instruments may still incur fees during rollover periods as displayed within the trading platform under the swap field.
By opening or using a Swap-Free Account, the client acknowledges and agrees that Genie may apply charges for overnight positions in accordance with these Terms and prevailing market conditions, that spreads and commissions on Swap-Free Accounts may differ from those of standard accounts and may be wider where necessary, that Swap-Free Accounts are subject to ongoing monitoring and periodic compliance checks, and that certain instruments may still incur fees during rollover periods as displayed within the trading platform under the swap field.
If you have any questions or require clarification about these Swap Free Terms and Conditions, please contact us: