Clients following the Muslim faith can open a forex & CFD trading account without any rollover interests on overnight positions (=swap interests). The reason for the Islamic Account is to avoid the need for paying and receiving interest which is prohibited in Islam.
How to open a Swap Free Islamic Account?
– Open a Fortrade Account on your desktop, mobile or tablet.
– Complete the full registration process (and send us your supporting ID documents).
– Send an email to email@example.com with a request for Swap Free Islamic Account.
Spreads on Swap Free Groups:
- * USD/TRY 19 pips during the day and 54 at night
- * EUR/TRY 24 pips during the day and 64 at night
- * GBP/TRY 64 pips during the day and 104 at night
- * GAUTRY 100 points markup (Effecting also the USDRUB)* These 4 pips markups are also affecting the following symbols: AUDNZD, EURDKK, EURNZD, GBPAUD, GBPCAD, GBPNZD, USDDKK, EURNOK, EURHUF, EURILS, EURPLN, EURSEK, EURZAR, GBPSGD, USDCNH, USDHUF, USDILS, USDMXN, USDNOK, USDPKN, USDSEK, USDZAR)
- ** If there is a system abuse – Fortrade can cancel the Islamic account and close any open trades at its discretion.
- *** Standard lot = 100,000 units of base currency when trading FX pairs; 1,000 when trading GAUTRY, and 100 when trading GOLDTRY.
- **** As of 13.12.2018, Fortrade charges commissions for all stocks (US+OTHER STOCKS).
- ***** The charge is made every Thursday for swap-free clients only.
- ****** All open positions held at the time 00.00 GMT on Thursday morning will have a commission taken pro rata for every lot: