Islamic Accounts

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How to Open a Forex Islamic Account

You do not need to make any special Customizing settings for forex swaps. You need to change Customizing settings for other transactions in foreign exchange trading. Four transactions arise when a forex swap is mirrored. A spot transaction and a forward transaction are created in each of the two company codes involved. The reference category SWP forex swap also appears in this context.

The spot transaction and forward transaction in one company code are linked by the SWP reference. Mirror Transactions Use You can use the mirror transaction function to avoid the double entry of transactions that are concluded between two companies parent and subsidiary within a group. Prerequisites The parent company and its subsidiaries are separate company codes within the same client. Conditions of the service and commission rates.

When you change your account type to Swap-Free, the overnight commission depends only on the instrument and the number of open lots. All other trading conditions remain the same. After that, contact our Live Support one of the following ways:. A prerequisite for changing the account type to a "Swap Free" one is the absence of open positions on it. The client has the right to decline the service at any time. To do this, contact our Live Support. In case the service is disabled by the Company, you will be charged swaps according to the conditions, specified on its official website.

When you change your account type to "Swap-Free", you are not charged swaps; however, you pay a fixed overnight commission for open positions. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in.

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You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure. By clicking the "Enter" button, you agree for your personal data provided via live chat to be processed by Trading Point of Financial Instruments UK Limited, as per the Company's Privacy Policy , which serves the purpose of you receiving assistance from our Customer Support Department.

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Open an Account Here. About Forex 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. How to Open a Forex Islamic Account The swap-free option can be chosen as part of the trading account registration in 3 easy steps: Open a trading account with us.

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