That's correct - this account type is for religious needs, so there shouldn't be a case where they also want to trade on a swap charging account also.
For the terms, if you are sharing this with the client it will need to be worded a little differently. The below would be suitable to begin with:
SWAP-FREE TRADING CONDITIONS: (this can be shared to clients asking for more details)
1. The account has a spread based commission which is 14 points on FX and Metals.
2. Swap-free accounts are available for clients of Fusion Markets EN (VFSC)
3. A limited number of symbols are available on the account; clients on this account type can trade non-exotic FX, metals and indices.
4. There is an administrative charge associated with this account. This admin fee will be charged after every 7th day that the trade has been held open and will come out of the account as a balance adjustment. There are further terms in our PDS relating to Administration Fees under section 5.7, which we encourage you to review.
5. If applying for a swap-free account, please note that all your accounts will be changed to swap-free - we don't currently allow a mix of swap-free and swap-charging accounts.
6. Fusion may revoke your right to use a swap free account at our discretion, such as if we believe the swap-free nature of the account is being exploited intentionally to avoid paying swaps for financial rather than religious purposes.
SWAP FREE ACCOUNTS T&C's
The swap free trading accounts which are now offered at Fusion will not have commission paid on the open and close of each trade but rather commission will be built into your price. This account will allow clients the ability to trade on a select group of symbols such as non-exotic FX, metals and indices. These accounts will have an administrative charge associated with this account; this fee will be charged after every 7th day that the trade has been held open and will come out of the account as a balance adjustment. Further details of these charges can be provided on request. If clients are accepted on to the swap free accounts, all trading account must be under this same setup. Accounts cannot be mismatched. Fusion will review and monitor all accounts accepted under this swap free setup, we hold the right to remove anyone from these accounts or adjust the custom setup provided.