Swap Free Islamic Account

Sharia-compliant forex trading account for followers of Islam.

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.

Minimum balance of $2000 applies. (Excluding bonuses)

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 email to support@fortrade.com with request for Swap Free Islamic Account.

 

Spreads on Swap Free Groups:

  • *USD/TRY 12 pips during the day and 20 at night
  • *EUR/TRY 17 pips during the day and 30 at night
  • *GBP/TRY 29 pips during the day and 54 at night
  • *GAUTRY 100 points markup (Effecting also the USDRUB)* These 4 pips markups are also effecting 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.
  • ****All open positions held at the time 00.00 GMT on Thursday morning will have a commission taken pro rata for every lot:
  • GAUTRY – 300 points (only long positions)
  • GOLDTRY – 600 points (only long positions)
  • TRYBASK – 75 pips (only long positions)
  • USDRUB – 1100 pips (only long positions)
  • USDTRY – 75 pips (only long positions)
  • EURTRY – 95 pips (only long positions)
  • GBPTRY– 105 pips (only long positions)
  • ZAR pairs – 120 pips (only long positions)
  • HUF pairs – 30 pips (only long positions)
  • MXN pairs – 90 pips (only long positions)
  • AUD pairs – 8 pips (only short)

 

Please contact us if you need any further information on the markup charges and how they apply to the Swap Free Islamic Account.

 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.