Swap Fees will not be credited or debited (on selected products) on Malfex Islamic Trading accounts for traders of Islamic faith
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.
Trade Forex and access the markets on the World’s most Powerful Trading Platform
Practice trading today
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.
Islamic Accounts at Malfex allow you to
start trading the following financial instruments:
If you are interested in trading forex, try your hand at currency trading on 60+ pairs
Gold, silver, oil & more
12 to trade on global indices
120+ share CFDs on global stock markets
Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin
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.
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.
Fund your trading account
using a wide range
of funding methods
Start trading and access over 10,000+ instruments
Fund your trading account
using a wide range
of funding methods
Start trading and access over 10,000+ instruments
| Gateways Withdrawal | Withdrawals Fees | Withdrawals Time | |
|---|---|---|---|
|
Credit/Debit Card (CAD,CHF,EUR,GBP,HKD,JPY,NZD, |
No fees * |
4 - 5 business days |
|
|
Bank Transfer (CAD,CHF,EUR,GBP,HKD,JPY,NZD, |
No fees * |
4 - 5 business days |
Legal: Malfex Group is licensed and regulated by Central Bank of Azerbaijan with the registered name MFX Investisiya Sirkati license number IS-06 as stock joint company and member of Baku Stock Exchange in Azerbaijan.
Malfex Group is licensed and regulated by FSCA(Financial Sector Conduct Authority) under registered name MALFEX GROUP (PTY) LTD FSP No 51598
Malfex is part of Rubin Overseas AG which is regulated by the Securities and Exchange Commission SEC in Washington DC, USA under the license number 801-78986.
Rubin is further directly regulated by the Swiss Financial Market Supervisory Authority FINMA in Switzerland and registered under the license number CHE-392.194.540.
The group is also licensed and regulated by the Malta Financial Services Authority MFSA under license number C-71261 in Malta.
Rubin is also licensed and regulated by Banca D‘Italia (Central Bank of Italy) in Italy.
Malfex Group Limited is authorized and Licensed by the Financial Services Authority(Registration Number. 25343 BC 2019), with its company registered address at First St. Vincent Bank Building, James Street, Kingstown, St. Vincent and The Grenadines. 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: Forex and CFDs are leveraged financial instruments that carry a high degree of risk and may expose you to significant losses. Trading in CFDs may not be suitable for all investors. Before trading, you should ensure you fully understand the risks involved and consider your level of experience. If necessary, you should seek independent advice. Please read the full Risk Disclosure Statement for further details.
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