Trading
Islamic Accounts
What are Islamic Accounts?
In the interbank Forex market, currencies are exchanged with a T+2 delivery rule, which involves delivering the currencies after 2 days. However, online FX trading doesn't involve physical delivery, leading to rollover of positions until they are closed.
To comply with Islamic Shari'a rules, a special type of account, known as an Islamic or "Swap-free" account, waives the interest-based swaps (rollover fees). Islamic account holders can maintain positions without incurring any charges.
How can I open an Islamic Account?
Islamic Accounts are tailored to meet the religious beliefs of our Muslim clients, who seek to avoid interest payments in line with Islamic Shari'a. To open an Islamic account, select one of our account types and complete the application.
*Clients found misusing Islamic accounts may be asked to close positions on the same day, and Investingor reserves the right to close the account without prior notice.