Islamic Forex trading accounts
What is an Islamic Forex account?
n trading, a swap is the interest paid or earned for holding a position overnight. Since Muslim traders cannot participate in interest-based transactions, two Islamic forex account options are available that comply with Sharia law.
These Islamic, or swap-free, accounts do not include any swap charges or interest on overnight positions. Instead, a small administration fee is applied to open positions and is deducted directly from the account balance.
How to open an Islamic Forex account?
Register and open a MetaTrader 4 or MetaTrader 5 trading account.
Send an email to support@novixafund.com
requesting to convert your MT4/MT5 account to an Islamic account.
Wait for confirmation from the onboarding team.
Additional documentation may be requested to grant swap-free status. If religion is not mentioned on your ID, proof of faith may be required.
If you wish to ensure your trading activities are halal, consider consulting a qualified religious authority.
Islamic Account Types
Explore our swap-free trading accounts, designed specifically for Muslim traders.
MetaTrader 4 Islamic Account
Trade global markets on one of the most powerful and widely trusted trading platforms.
MetaTrader 5 Islamic Account
Experience the future of trading with a range of powerful and advanced features.
cTrader Islamic Account
Trade a wide range of assets in a fully swap-free trading environment.
What instruments can you trade on an Islamic account?
Key features of the FP Markets Islamic Forex accounts
Advantages of Islamic Accounts
The primary advantage of Islamic Accounts is that they enable those who follow Sharia Law to trade the markets without breaking with their faith given that these types of account are premised on Islamic principles, and do not involve interest charges.
Standard practice stipulates that brokers charge or credit swap/interest fees if positions are held overnight. These can be negative or positive, meaning a rollover amount can be added or deducted from your account.
However, in a swap-free account, these charges are replaced with an administration fee, allowing you to trade without swap costs.
With FP Markets, Muslim traders also have the advantage to trade selected currency pairs with no administration fees for the first five nights of trading.
Trade global markets with a trusted and regulated broker.
Access a wide range of global markets with confidence, supported by secure trading, transparent processes, and reliable conditions designed to enhance your overall trading experience.