On the financial market, if you don’t close the trade before 5:00 pm New York time, all open trades will be automatically rolled over for the next 24 hours and the daily interest is added to the company’s account every 24 hours. This poses a problem for traders following Islamic law. With an Islamic account, we do not charge Islamic traders with rollover fees and we make sure there is no Riba in any form throughout the duration of the contract.
– The Islamic Account is available for clients of Muslim faith only.
– A Carry charge is applied on selected currency pairs when holding overnight positions beyond a 7-day period. Please refer to our Terms and Conditions for details.
– The Company reserves the right to revoke the Islamic Account status granted to any trading account.
For additional information, please, contact your account manager.