What is an Islamic Forex Account, and how can I trade in an Islamic Finance-compliant manner?
Islamic accounts, often known as swap-free accounts, are suitable for Muslim customers since they follow Islamic law by avoiding swaps and interest payments on overnight holdings. Instead, on positions, the account owner is charged an administration fee, which is withdrawn from the account balance.
Trading is considered forbidden in Islam, but it is still possible to transfer if you find an Islamic Forex Account that offers swap-free trading and is tailored to Forex traders who are unable to pay or receive swaps or rollover interest on overnight positions based on religious beliefs, as defined by Sharia Law.
Islamic WavFX Account.
With several new features, you can experience the potential of day trading.
Wait for a confirmation from our onboarding team
WavFX reserves the right to request additional documentation in order to offer swap free privilege to an account. If religion is not mentioned on your ID document, we may require proof of faith in the form of a letter from your mosque confirming your religion.
If you want to be sure that your trading activities are halal, you can consult a religious authority that can take into account your personal situation.
There are over 60 currency pairings to choose from.
In worldwide stock exchanges, there are over 10,000 stocks.
Gold, silver, oil and other precious metals.
There are 19 major worldwide indices.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin are all digital currencies.
On certain pairs, there are no interest or swap fees.
WavFX trading accounts provide similar great trading conditions, services, and features; the only exception is the deletion of non-Shariah compatible interest charges.
Top trading systems that are reliable, safe, and easy, with no requotes or hidden fees.
Execution time is less than 40 milliseconds.
WavFX trading platforms, comprising WebTrader, as well as Android and iOS platforms, are available for free and unrestricted use.
Scalping, Swing Trading, and Day Trading are among the trading tactics which can be used.
Select an account type and fill out our simple and secure online application.
You can finance your trading account using a variety of techniques.
Begin trading and gain access to more than 10,000 instruments.
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Easy funding & withdrawals:No deposit fees
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Incorporate : The Registrar of Companies for England and Wales, hereby certifies that WAVFX TRADING INDEX LIMITED is this day incorporated under the Companies Act 2006 as a private company, that the company is limited by shares, and the situation of its registered office is in England and Wales. Given at Companies House, Cardiff, on 25th September 2005. The objects of the Company are all subject matters not forbidden by International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and Grenadines, 2009, in particular but not exclusively all commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises as well as to provide brokerage, training and managed account services in currencies, commodities, indexes, CFDs and leveraged financial instruments.
Risk Warning : Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.