Can the Company transfer my account from Islamic to another group?
If the Company has direct or circumstantial evidence that the Client violates the terms of Islamic accounts including but not limited to profiting from the difference in interest rates, when most trades have a negative swap or other fraudulent activities, the Company will have the right to switch the Client’s account from the Islamic group back to the previous Fixed or Standard account group at any time without prior notice and reason.
What instruments are available for trading on Islamic accounts?
The list of available trading instruments for Islamic accounts is the same as for Standard and Fixed accounts, except for the Exotics.
Can I receive a bonus to my Islamic account?
Islamic accounts do not participate in bonus programs and promotions.
Is there any commission on Islamic accounts?
All FxCFD instruments are commission and swap-free. The Swap-free service does not apply to CFD Indices, Commodities, Bonds, Metals, Cryptopairs, Equities.
What is the minimum opening deposit for an Islamic account?
There’s no minimum deposit requirement on Islamic accounts. To open an Islamic account you don’t need to deposit a particular amount of money, you can start trading with any capital.
How can I apply for an Islamic account?
To switch your account to the Islamic group, you need to send a request in “Trading” – “Islamic account” section of your Personal area. To approve the transfer of a trading account to the Islamic group, the Company may request to attest to being Muslim and present a certificate documenting your religious affiliation, endorsed by a Muslim religious authority.
Who can open an Islamic trading account?
Islamic accounts are designed for clients who, due to their religious beliefs, cannot trade on general terms, i.e profit from the payment of interest.
What is the difference between an Islamic account and a standard account?
An Islamic account is a Swap-free account, which means that it charges no fee for transferring positions to the next day. Thus, the Client doesn’t receive an additional income or interest and doesn’t incur additional losses.