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Islamic Accounts


islamic accounts
About Islamic accountsForex Islamic accounts are also called Shariah forex accounts to indicate that they are in compliance with the Islamic religious beliefs, according to the Islamic religion.Forex Islamic accounts are also called the swap-free forex accounts, because within this kind of accounts no swap or roll over interest will be charged or incurred to positions that were held overnight. Islamic forex accounts are intended especially to Muslims as swaps go against their religious beliefs. Instead of swap this account will feature a fixed small fee per standard lot, which is charged daily for positions that are held overnight. Islamic accounts give their owners an opportunity to hold their positions for an unlimited amount of time.What exactly are Islamic Accounts*?Islamic accounts are trading accounts that observe the religious practices of AFM’s Muslim clients. These accounts offer a flat fee for the cost of carry and are in accordance with Sharia law.Interest Free Accounts (Swap Free Forex Accounts) Clients benefiting from AFM FX “No Riba” policy may hold positions for an undetermined time at the original opening price until they are closed. Instead of swap this account will feature a fixed small fee per standard lot, which is charged daily for positions that are held overnight.*AFM Forex may revoke the ‘No Riba’ policy in case of abuses with a 48 hours Email notice.
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