Islamic Accounts
Swap charges in Online Forex Trading is Interest Charges. It is a rollover interest that is earned or paid for holding positions overnight. Muslims are not allowed to transact in trades with interest charges. Since Swap charges is interest charges, Islamic Accounts should be Swap Free and it must also be formulated in compliance with Islamic Syriah Laws. There should be no other charges in lieu of the interest charges.
Islamic Accounts at Tadawul Fx
In the case of Tadawul Fx, the Islamic Accounts are formulated in strict compliance with Islamic Syriah Laws. The Islamic Accounts at Tadawul Fx are Swap Free and there is no other additional charges, spread or hidden fees.
Tadawul Fx also advocates Musharaka Accounts. This is a Managed Account whereby the distribution of profits or losses will be apportioned according to an agreed ratio between the Trader and the Account holder.
Opening of Islamic Account
Traders can choose to open an Islamic Forex account with Tadawul Fx by simply completing the Online Forex Trading account opening form and select the ‘Swap Free’ option. Traders will not be requested to show proof of their religion.
Swap Free Trading Platform
Tadawul Fx offers the best Swap Free Islamic Accounts on Online Meta 4 Trading Platform as well as on Mobile Meta 4.
Trading Strategies
There is no restrictions in the trading methods at Tadawul Fx. Traders are allowed to use all trading strategies. Hedging and Scalping techniques are acceptable. Tadawul Fx allows the use of all types of Automated Forex Trading Robots on its Meta 4 Trading Platform. These Robots can be deployed at TadawulFx freely without fear of being penalized.
Fixed Spreads at Tadawul Fx
The spreads at Tadawul Fx is very competitive and it is at fixed rate all the time, twenty fours a day and five days a week, irrespective of before or after major fundamental economic news announcements. This fixed spread policy also applies for Islamic Accounts.
