Islamic Trading Accounts – Malfex Investment LLC

Islamic Forex Trading Accounts

Swap Fees will not be credited or debited (on selected products) on Malfex Islamic Trading accounts for traders of Islamic faith

Islamic Accounts

What is an Islamic Forex Account and how to trade in accordance with Islamic Finance?

Also known as a swap-free accounts, Islamic accounts are ideally suited to muslim clients as they are in line with Islamic law in that they incur no swaps or interest charges on overnight positions. Instead, the account holder is charged an administration fee on positions which is deducted from the balance of the account.

Trading in Islam can be considered to be haram but it is still possible to trade if you find an Islamic Forex Account which provides swap-free trading and which has been designed for forex traders who cannot pay or receive swaps or rollover interest on overnight positions due to their religious beliefs, in line with Sharia Law.

Steps to open an Islamic Forex Account:

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.

Islamic Account Types

Metatrader 5 & CTrader Islamic Account

Trade Forex and access the markets on the World’s most Powerful Trading Platform

Demo Islamic Account

Practice trading today

What Islamic Account Types Does Malfex Offer?

The swap-free account option is available on our Raw and Standard account types on the MT5 & CTrader trading platforms.

An Islamic client can trade all the instruments available on the platforms.

Minimum Opening Balance $1000 USD or equivalent
Spreads From 2.0 pips
Instruments 60+ FX pairs, metals, indices, commodities
Maximum Leverage 500:1
Execution ECN-Pricing
Commission per Lot $7
Minimum Trade Size 0.01 Lot
EA’s Yes
Mobile App Yes
VPS Available Yes

Minimum Opening Balance $1000 usd or equivalent
Spreads From 2.0 pips
Instruments 60+ FX pairs, metals, indices, commodities
Maximum Leverage 500:1
Execution ECN-Pricing
Commission per Lot USD $7
Minimum Trade Size 0.01 Lot
EA’s Yes
Mobile App Yes
VPS Available Yes

What Can You Trade With An Islamic Account?

Islamic Accounts at Malfex allow you to
start trading the following financial instruments:

About Halal Forex Trading - Halal Trading with Islamic Forex Accounts

Islamic finance is guided by four basic principles:

1 | Prohibition of gambling

According to Islam, gambling is prohibited but trading forex and other financial instruments can be considered an educated game of chance which involves the buying and selling of assets based on forex market analysis and using a variety of concepts and trading strategies.

2 | Prohibition of payment and receipt of any interest rate (Riba)

Usually, when a trader holds open positions at the close of a trading session, Malfex charges a swap commission linked to an interest rate which is in turn related to the fact that traders receive an indirect loan through leverage. This leverage usually results in profit for the forex broker and therefore why a standard trading account is classified as haram given it includes interest payment whereas an Islamic trading account would be halal as it does not feature payment of these swap interest rates and therefore satisfies the riba threshold.

3 | Risk and benefits distribution

One of the principal concerns about trading is the element of shared risk. Interest ensures a reward for the lender and the borrower is the one who incurs the risk. Excessive or a high level of risk (gharar) is prohibited in the same way that excessive gambling is. Financial activity must also be seen to promote social and economic activity and justice as well as happiness. With an Islamic trading account, all interest charges are waived.

4 | Immediate Exchange or "Hand in Hand"

Now that interest rates not being applicable, the next item to consider is that trading is only permitted if it is “hand in hand”. In times gone by this meant face-to-face but in the modern world and with the advent of online trading and e-commerce, which involves an almost instantaneous transaction between broker and trader executed in seconds, is considered halal under Shariah and is therefore permissable.

Key Features of the Malfex Islamic Forex Account:

Zero interest/swap charges on selected pairs
Similarly excellent trading conditions, services and features as Malfex trading accounts; the only difference being the elimination of non-Shariah compliant interest charges
Stable, secure and intuitive leading trading platforms with no re quotes, nor any hidden charges
Fast execution under 40 milliseconds
Free and unlimited access to Metatrader 5 trading platforms including WebTrader, and Android and iOS platforms
Compatible with a variety of trading strategies including Scalping, Swing Trading and Day trading.

Advantages of Islamic Accounts

Sometimes a trader opens a position in the morning, with the intention of closing it at the end of the day, but at the end of the session the position is making a profit and the trader anticipates that the movement should continue. When trading on selected pairs (Outlined below) with 10 days swap free you can keep the position open for longer without administration fees eating into your profit. Also trading in a non-Islamic account also exposes the Islamic trader to the risk of forgetting and falling into a haram trading activity.

Start trading with Malfex

Fast account opening in 3 simple steps

1 Register

Choose account type and complete our fast and secure application form

2 Fund

Fund your trading account
using a wide range
of funding methods

3 Trade

Start trading and access over 10,000+ instruments

1 Register

Choose account type and complete our fast and secure application form

2 Fund

Fund your trading account
using a wide range
of funding methods

3 Trade

Start trading and access over 10,000+ instruments

Islamic Admin Fees

Please note there will be the following administration fees:

Gateways Withdrawal	Withdrawals Fees	Withdrawals Time
Credit/Debit Card (CAD,CHF,EUR,GBP,HKD,JPY,NZD, SGD,USD, CZK, PLN)	No fees * * Your card provider may charge fees which Malfex is not responsible for, e.g., conversion fees	4 – 5 business days	Withdrawal
Bank Transfer (CAD,CHF,EUR,GBP,HKD,JPY,NZD, SGD,USD, CZK, PLN)	No fees * * Your card provider may charge fees which Malfex is not responsible for, e.g., conversion fees	4 – 5 business days	Withdrawal

Islamic Forex Trading Accounts

Islamic Accounts

Islamic Account Types

Metatrader 5 & CTrader Islamic Account

Demo Islamic Account

What Islamic Account Types Does Malfex Offer?

Islamic Standard

Islamic Raw

What Can You Trade With An Islamic Account?

Forex

Commodities

Indices

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