Islamic trading accounts are designed for Muslim traders whose faith prohibits paying or receiving interest (riba). Instead of swap charges, positions held overnight incur no interest. Most brokers accept a written request to convert a standard account to Islamic status within a few hours.
Not all "Islamic accounts" are equal. Some brokers replace swap with a flat administrative fee after a few days, which can be worse than paying regular swap for short-term holds. The brokers most consistently recommended for strict Sharia-compliant trading — no hidden admin fees, no time limits — include Exness, XM, HFM, and Vantage.