Introduction to our new Islamic account

Thu, 14 Feb 2019 14:23

Dear Traders,

There's no doubt that currency trading is one of the most difficult dilemmas in Islamic Jurisprudence (Faqih). Modern Forex market normally poses a problem for those following Islamic law, due to the possible usurious interest charged for the rollover.

MTrading understand the drawback of regular trading conditions. And, to resolve this issue, we have come to the conclusion, introducing:

The All-New Islamic Account

So what opportunities will this bring?

- No More Restriction

Islamic accounts do not pay or earn swap or interest on any trades for Currencies, Commodities & Indices.

- Trading without fee nor commission

One of MTrading's advantage is that there is no charge on the first 7 days (with the exception of EURRUB, USDRUB and USDCNH), completely free and apply for each position separately!

After that period, any trades open for more than 1 day in the available pairs will be charged a small flat rate of administrative charge*.

- Ever perfecting Trading Conditions

Other conditions such as the MTrading's top notch M.Premium Account tight spread and lightning order-execution-speed are remain intact**.

Please be aware that all existing Swap-free accounts will be changed into Islamic Account starting from February 18th, 2019. We'd also like to recommend all Swap-free accounts holders to prepare for the upcoming changes.

Full details of charges can be found below:


SymbolAdmin Fee (USD per lot)
Charge cycle (days)

AUDCAD

5

7

AUDCHF

12

7

AUDJPY

5

7

AUDNZD

5

7

AUDUSD

5

7

CADCHF

12

7

CADJPY

5

7

CHFJPY

12

7

EURAUD

5

7

EURCAD

5

7

EURCHF

12

7

EURGBP

5

7

EURJPY

5

7

EURNZD

5

7

EURRUB

45

1

EURUSD

3

7

GBPAUD

5

7

GBPCAD

5

7

GBPCHF

12

7

GBPJPY

5

7

GBPNZD

5

7

GBPUSD

3

7

NZDCAD

5

7

NZDCHF

12

7

NZDJPY

5

7

NZDUSD

5

7

USDCAD

5

7

USDCHF

12

7

USDCNH

45

1

USDHKD

12

7

USDHUF

12

7

USDJPY

3

7

USDNOK

12

7

USDPLN

12

7

USDRUB

45

1

USDSEK

12

7

USDSGD

12

7

GOLD

8

7

SILVER

2

7

Indices (Dax30 etc)

1

7

Energies (Brent, Natural Gas, WTI)

1

7

*Triple charges applicable on Friday night

**Rates & holding period is subject to change to reflect market conditions when necessary.

Kind Regards,

MTrading