FXPCM

Islamic Accounts

 

Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against Islamic faith. We offer our Islamic accounts to Traders following the Muslim faith and Sharia Law on finance.

 

Swap-Free Sharia Compliant Forex Trading Accounts:

 

Muslims are prohibited to pay or receive interest in any form. Hence, it becomes highly inconvenient for many Muslim traders to trade in forex as it involves paying daily interest, also called as swap charge or overnight rollover charge. This kind of interest is charged by brokers on all the open positions and it is directly paid to the banks. Keeping in mind the Islamic Sharia Laws that prohibit Muslim traders to pay interest on their open forex positions, PCM Brokers introduces to you the Islamic Accounts. We don’t charge interest in any form to the Islamic Accounts. However, to discourage people from taking unnecessary advantage of this added benefit, we do charge a maintenance fee on any position that is kept open for more than 7 days at $4 per standard lot per day.

fxpcm.com/forex/account-types#islamic

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