Swap-free (Islamic) accounts: what is actually waived

A swap is the overnight financing charge on a leveraged position. A swap-free, or Islamic, account waives it, which is what makes the account usable under rules that forbid interest.

What is waived differs between brokers, and the difference matters: some waive the swap and charge an administration fee after a few nights instead, some limit swap-free status to certain instruments, and some grant it on request rather than by default. The broker pages here record the condition as the broker states it.

The ten below offer a swap-free account to residents of Mexico.

Swap-free accounts offered (75 of 75)

34Yes

4No

37Not stated

Affiliate links: we earn a commission; it never changes scores or order. CFDs are high-risk and leverage can lose you money rapidly.

Key facts (34 of 75 counts · 74 brokers onboarding Mexican residents)

34of 75

qualify for this ranking

45% of 75

32of 34

scored on all six axes

94% of 34

71of 75

publish a price

95% of 75

52of 75

publish a leverage figure for this country

69% of 75

Top 3 (of 3 ranked)

1HYCM4.19highest score of the three · multi-regulated globally · withdrawal in 24 h 2Grand Capital4.14offshore broker · withdrawal in 0.25 h 3FreshForex4.13unregulated in mexico · withdrawal in 0.166667 h

Swap-free (Islamic) accounts: what is actually waived (34 of 75)

By slice score, formula v1.0. · 34 of 74 brokers in this ranking · all 34

#	Broker	Round turn, USDMX	Min deposit, USDMX	Leverage	Withdrawal, hMX	Score	Execution	Founded	Funding
1	HYCM	5	—	30 groupMX	24	4.19	ECN/raw + standard	1977	—
2	Grand Capital	5	10 group	500MX	0.25	4.14	ECN/raw + standard	2006	—
3	FreshForex	6	—	2000MX	0.17	4.13	ECN/raw + standard	2004	—
4	FP Markets	6	100 group	500MX	24	4.12	ECN/raw + standard	2005	2 methods · local
5	AMarkets	7	—	3000MX	24	4.05	ECN/raw + standard	2007	—
6	Global Prime	7	—	1000MX	2	4.03	ECN/raw + standard	2010	1 methods
7	OctaFX	9	25 group	1000MX	3	4.01	ECN/raw + standard	2011	4 methods · local
8	Exness	9	—	2000MX	0.02	3.99	ECN/raw + standard	2008	3 methods · local
9	Fusion Markets	4.5	0 group	500MX	1	3.97	ECN/raw + standard	2017	—
10	MultiBank Group	6	—	500MX	48	3.94	ECN/raw + standard	2005	—
11	HFM	6	0 group	2000MX	24	3.92	ECN/raw + standard	2010	3 methods · local
12	Pepperstone	7	—	1000MX	24	3.92	ECN/raw + standard	2010	3 methods · local
13	FBS	6	5	3000MX	24	3.91	ECN/raw + standard	2009	2 methods · local
14	Vantage	6	50 group	500 groupMX	120	3.78	ECN/raw + standard	2009	3 methods · local
15	Admirals	6	25 group	500MX	24	3.75	ECN/raw + standard	2001	3 methods
16	AvaTrade	9	100 group	400 groupMX	48	3.73	Standard	2006	3 methods · local
17	FXOpen	1.5	—	500MX	24	3.73	ECN/raw + standard	2005	3 methods · local
18	TMGM	7	—	1000MX	24	3.67	ECN/raw + standard	2013	—
19	Headway	3	—	—stated, not verified	0.5	3.66	ECN/raw + standard	2023	3 methods
20	XM	7	5 group	1000MX	24	3.65	ECN/raw + standard	2009	3 methods
21	JustMarkets	4	10 group	3000MX	48	3.64	ECN/raw + standard	2012	2 methods · local
22	Milton Prime	—	300 group	500 groupMX	24	3.61	—	2015	—
23	VT Markets	6	—	1000MX	72	3.59	ECN/raw + standard	2015	—
24	Weltrade	3.1	—	10000MX	0.5	3.56	ECN/raw + standard	2006	—
25	XChief	5.5	—	1000MX	120	3.55	ECN/raw + standard	2014	—
26	BlackBull Markets	20	—	500MX	72	3.44	Standard	2014	3 methods · local
27	BDSwiss	5	—	500 groupMX	24	3.42	ECN/raw + standard	2012	—
28	Moneta Markets	6	—	1000MX	72	3.42	ECN/raw + standard	2019	3 methods
29	InstaForex	—	—	1000 groupMX	7	3.28	ECN/raw + standard	2007	—
30	Tickmill	6	100 group	1000MX	24	3.26	ECN/raw + standard	2014	3 methods · local
31	XTB	9	0 group	500MX	72	3.19	ECN/raw + standard	2002	2 methods · local
32	IronFX	18	—	2000MX	240	3.19	ECN/raw + standard	2010	2 methods
33	eToro	10	10 group	30 groupMX	240	3.15	Standard	2007	3 methods
34	T4Trade	18	—	1000MX	24	3.14	Standard	2021	—

Ten are shown; the button opens the rest.

"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.

— the broker does not publish this figure; it is not read as a zero and it is not scored.

FP Markets publishes a retail leverage of 1:500 without naming the entity that grants it, so the figure is marked group and left out of the leverage ranking and median.

The ten above illustrate the term. Swap-free (Islamic) brokers in Mexico lists every broker that qualifies, with the figure each one publishes.

Identical for every row, so it is stated once: Who onboards Local · CNBV · Swap-free fee none, no limit · MXN account Yes.

1. HYCM — highest score of the three · multi-regulated globally · withdrawal in 24 h (score 4.19)

Round turn: 5 USD
Withdrawal: within one working day
MXN account: USD EUR GBP AED JPY
Leverage: 30 groupMX
Accepts residents: through an offshore entity
Onboarding entity: Undisclosed global entity
Founded: 1977
Register: https://www.digitalbanknetworks.com/partners/hycm/mexico-city · 11.10.2026
Group leverage: uncleargroup
Instruments: Forex CFDs stocks crypto
Platforms: MT5cTraderWebTradingView
Funding: Not specified for Mexico
Not served: United States, Canada, Japan, Hong Kong, Spain, Portugal, Belgium, France, Cyprus

Reviews25%40
Round-turn cost20%100
Payouts15%80
Track record10%
Platforms65

Why it ranks here

Round turn 5 USD against the slice median 7 USD. strongest axis round-turn cost 100 of 100. total score 4.19.

Watch for

Payouts axis 58 of 100; e-wallet times not published.

Full review of HYCM

2. Grand Capital — offshore broker · withdrawal in 0.25 h (score 4.14)

Round turn: 5 USD
Withdrawal: from 15 minutes
MXN account: USD plus others
Leverage: 500MX
Accepts residents: through an offshore entity
Onboarding entity: Global offshore entity
Founded: 2006
Register: https://forexrebate.me/brokers/Grand_Capital · 11.10.2026
Group leverage: unclear
Instruments: Forex, CFDs, crypto
Platforms: MT5MT4Web
Funding: No Mexico-specific methods
Not served: United States, Seychelles, Saint Vincent and the Grenadines, Japan, Spain, Italy, France, Germany, Portugal, Denmark, Estonia, Slovenia, Greece, Malaysia, Russian Federation

Why it ranks here

Round turn 5 USD against the slice median 7 USD. strongest axis round-turn cost 100 of 100. total score 4.14.

Watch for

Min deposit 200 USD, double the Mexico median of 50; withdrawal time not published.

Full review of Grand Capital

3. FreshForex — unregulated in mexico · withdrawal in 0.166667 h (score 4.13)

Why it ranks here

Round turn 6 USD against the slice median 7 USD. strongest axis track record 100 of 100. total score 4.13.

Watch for

Onboards Mexican residents through an offshore entity: no CNBV licence, no CNBV complaints route, no MXN account.

Full review of FreshForex

What the data shows(34 of 75 distributions · 74 brokers)

Swap-free availability (34 of 75 brokers)

Offered30Not offered14

Admin fee after the free period (34 of 75 swap-free)

Never16After 3–30 days9not published5

Who onboards Mexican residents (34 of 75 brokers)

Local CNBV entity20Offshore entity24

MXN account (34 of 75 brokers)

Yes16No23not published5

Round turn, one lot, USD (71 of 75 · median 7 USD)

8<5

555-10

310-15

315-20

220+

Full list(34 of 75)

1HYCM4.19
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
5
Leverage
30 groupMX
MXN
Yes
2Grand Capital4.14
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
5
Min deposit, USD
10 group
Leverage
500MX
MXN
Yes
3FreshForex4.13
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Leverage
2000MX
MXN
Yes
4FP Markets4.12
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100 group
Leverage
500MX
MXN
Yes
5AMarkets4.05
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
7
Leverage
3000MX
MXN
Yes
6Global Prime4.03
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
7
Leverage
1000MX
MXN
Yes
7OctaFX4.01
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
25 group
Leverage
1000MX
MXN
Yes
8Exness3.99
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
9
Leverage
2000MX
MXN
Yes
9Fusion Markets3.97
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
4.5
Min deposit, USD
0 group
Leverage
500MX
MXN
Yes
10MultiBank Group3.94
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Leverage
500MX
MXN
Yes
11HFM3.92
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
0 group
Leverage
2000MX
MXN
Yes
12Pepperstone3.92
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
7
Leverage
1000MX
MXN
Yes
13FBS3.91
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
5
Leverage
3000MX
MXN
Yes
14Vantage3.78
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
50 group
Leverage
500 groupMX
MXN
Yes
15Admirals3.75
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
25 group
Leverage
500MX
MXN
Yes
16AvaTrade3.73
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
100 group
Leverage
400 groupMX
MXN
Yes
17FXOpen3.73
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
1.5
Leverage
500MX
MXN
Yes
18TMGM3.67
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
7
Leverage
1000MX
MXN
Yes
19Headway3.66
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
3
MXN
Yes
20XM3.65
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
7
Min deposit, USD
5 group
Leverage
1000MX
MXN
Yes
21JustMarkets3.64
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
4
Min deposit, USD
10 group
Leverage
3000MX
MXN
Yes
22Milton Prime3.61
Onboards
Local · CNBV
Swap-free
none, no limit
Min deposit, USD
300 group
Leverage
500 groupMX
MXN
Yes
23VT Markets3.59
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Leverage
1000MX
MXN
Yes
24Weltrade3.56
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
3.1
Leverage
10000MX
MXN
Yes
25XChief3.55
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
5.5
Leverage
1000MX
MXN
Yes
26BlackBull Markets3.44
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
20
Leverage
500MX
MXN
Yes
27BDSwiss3.42
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
5
Leverage
500 groupMX
MXN
Yes
28Moneta Markets3.42
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Leverage
1000MX
MXN
Yes
29InstaForex3.28
Onboards
Local · CNBV
Swap-free
none, no limit
Leverage
1000 groupMX
MXN
Yes
30Tickmill3.26
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
6
Min deposit, USD
100 group
Leverage
1000MX
MXN
Yes
31XTB3.19
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
9
Min deposit, USD
0 group
Leverage
500MX
MXN
Yes
32IronFX3.19
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
18
Leverage
2000MX
MXN
Yes
33eToro3.15
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
10
Min deposit, USD
10 group
Leverage
30 groupMX
MXN
Yes
34T4Trade3.14
Onboards
Local · CNBV
Swap-free
none, no limit
Round turn, USD
18
Leverage
1000MX
MXN
Yes

How to read the ten below

Start with the figure this page ranks on.
Every row here is ordered by computed score, highest first; unscored brokers follow. A broker that publishes no figure is shown without one rather than guessed at.
Check which company would onboard you.
The same brand can take a resident of Mexico through a locally licensed entity or an offshore one, and the leverage cap, the complaint route and the protection all follow the entity, not the brand.
Read the cost beside the deposit.
The median round turn across this country is 7.0 USD and the median minimum deposit 50.0 USD; a low deposit beside a wide spread takes the difference back on every trade.

Neighbouring slices(6 rankings · 3 explainers)

Same country

Explained

FAQ

How many brokers qualify for this ranking in Mexico?: 34 of 75 brokers measured for this country qualify.
Which broker leads it, and on what basis?: HYCM leads it with a score of 4.19. The order is computed score, highest first; unscored brokers follow.
What does a trade typically cost here?: The median round turn - spread plus commission for one standard lot, in and out - is 7.0 USD across the brokers that publish both parts.
Why do some rows show a dash instead of a figure?: Because the broker does not publish that figure for this country. A dash is a statement about what is published, and a figure is never filled in from a group-wide page as if it applied locally.
Why are only ten brokers shown here?: This page explains the term; the ten illustrate it. The full ranking lists 34 of 75 and is one click away.

How this slice is scored

Slice score = 2 + 3 × weighted mean of the six axes; the swap-free fee and availability feed price and reliability. A missing axis drops out and weights are renormalised; group-wide figures never enter. Full methodology

Verified · What changed · Sources(34 of 75 broker records)

Verified01.10.2026

data re-captured 28.09.2026

Risk warning and affiliate disclosure

CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A swap-free account removes overnight interest, not market risk. We earn a commission on some links; paid rows are marked and never ranked first.