Xm forex islamic
This law also prohibits Muslim Forex brokers from earning interest via Forex trading. The only way that Muslims can trade Forex is by interest-free Forex trading and for that reason many Islamic accounts provide the opportunity to trade Forex interest-free, which is not available in any other way.
Trading Forex interest-free is known as 'No Riba Forex'. The name 'Swap-free accounts' is also used to describe interest-free trading as it signifies that no swap or rollover interest is taken on overnight positions.
Islamic account
Sometimes in order to make a profit and still abide to Islamic law, Forex brokers substitute the interest fee with a different fee which covers the interest rate while still staying within the boundaries of the law.
This method of billing is known as swap-free in disguise and is considered to be unethical and dishonest.
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Making the transition to an Islamic account is easy and many Islamic accounts will kindly help you make the transition. The chart below lists our top choices for Islamic accounts along with some information to help you decide which one is best for you.
Once you decide to upgrade to an Islamic Forex account, any one of these brokers will help you make a smooth and quick transition. Is FX Leaders free to use? How do I start?
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Get Market Opportunities Before Everyone Else. The key to any kind of successful Forex trading is to trade responsibly and intelligently.
Making rash, uncalculated decision is not the way to make a profit from Forex trading. In order to make the right choices you must understand the characteristics of your account and use them to your advantage. If you decide to make the transition to an Islamic Forex account make sure you understand the meaning of these two terms: Frequently Asked Questions Is FX Leaders free to use?
Learn more about Forex Foreign Exchange Market FX Leaders Trading Guide Top Recommended Forex Brokers Daily trader's Insights How to choose a Forex broker Forex Trading Strategies How to use free Forex signals. Trading Forex and commodities is potentially high risk and may not be suitable for all investors.
Swap-free Forex Islamic Accounts
The high level of leverage can work both for and against traders. Before any investment in Forex you need to carefully consider your targets, previous experience, and risk level.
FX trading can result in the loss of your money, therefore, you should not invest capital that you cannot afford to lose. Copyright by Smart Financial Traffic LTD Terms Of Use , Privacy Policy , Disclaimer. Upgrade to Islamic account.