Trade in Forex the Riba-Free way!
As per the Islamic Shari-ah Law, Muslims are prohibited to take advantage of the interest on their investment. To facilitate Muslims to comply with their religious obligations while taking advantage of online trading, Islamic Forex trading accounts were introduced and have gained a lot of popularity in the past decade.
Islamic or Swap-free trading accounts permit Muslims to trade in special conditions where no roll over interest or hidden fees will be charged to positions that are being held overnight. With Phoenix Markets’s special MT4 Islamic account, traders can open and close positions any time without being limited to hold them for a specific period of time.
The interest free Islamic account ensures that the client won’t be charged any interest on the position and the total profit or loss will be determined by the exchange rate of the currency pairs being traded. Also, the profit or loss won’t be accountable to the position volume or time period held.
Features of MT4 Islamic Trading Account by Phoenix Markets
- Zero interest or swap charges for overnight positions
- No commissions upfront
- No spread widening
- No set time limit for holding positions
- No hidden costs
- High Leverage
- Real time market dealing
- Weekly commission charging
- Other trading conditions remain same as the other trading account types we offer
- Dedicated support and assistance from Account Manager
Contact us now to start trading online with an Islamic Account!