Islamic Trading Account Conditions
Islamic forex accounts are a specific category of forex trading accounts also known as interest free or swap free forex accounts.
Islamic forex trading accounts permit clients of Islamic religion to trade on interest free accounts (Swap free or Rollover free) with no extra charge or penalty for the ability to trade in adherence with Islamic religious principles.
Usually, Islamic forex trading accounts have higher spreads, generally one point (pip) higher than the standard accounts.
Marketiva doesn’t differentiate between non-Islamic and Islamic trading accounts and has introduced Zero-Interest policy on all open positions. This means that no overnight interest is currently charged or paid on open positions, while most of other market makers charge Overnight Interest as a cost of carry associated with holding a position for more than one day.
For this reason there are no conflicts between Marketiva’s services and Islamic Riba prohibition.
Click here to open your islamic trading account.
