Islamic Trading Accounts
What is an Islamic Trading account ?
An Islamic Trading Account, also known as a swap-free account, adheres to Islamic principles that prohibit the charging or paying of interest. It is designed to accommodate traders who seek to align their financial activities with Islamic law (Sharia).
Islamic trading account - what is it & how does it work?
In an Islamic Trading Account, there are no swap or interest charges involved in trades. Instead, the trading process focuses on profit-sharing mechanisms and ethical principles. Transactions are structured to ensure fairness and compliance with Islamic finance principles.
What’s more, the bonus is simply a competitive advantage needed to excel in trading and to expand a portfolio.
Instruments & Leverage
QuickTrade offers the following Instruments and Leverage Groups for Islamic Accounts
Some terms & conditions surrounding Islamic Accounts
- No Riba (Interest): Transactions do not involve any form of interest or usury, ensuring compliance with Sharia.
- Ethical Investments: Trades exclude businesses considered haram (forbidden), such as those related to alcohol, gambling, or pork.
- Profit and Loss Sharing: Islamic accounts often involve profit and loss sharing mechanisms to adhere to the principles of fairness.
Yes, Islamic accounts cover a wide range of instruments, including currencies, metals, and indices, following Sharia principles.
Our Islamic Trading Accounts are meticulously crafted, and our expert team ensures that all transactions and offerings align with the principles of Islamic finance.
No, Islamic accounts are designed to be transparent, and there are no hidden fees. Our commitment is to provide fair and ethical trading conditions.
Our Islamic Trading Accounts are open to all traders with an Islamic approved bank account and who wish to engage in interest-free and ethical trading.
The answer to this question depends on a variety of factors, including the type of trading account you have, and the security touch points your broker uses to protect your funds. But there are a few measures you can take to keep your account extra safe.
Always keep your password to your account safe and don’t give it to others to trade or transact with on your behalf. Additionally, it is important to keep a close eye on your trading activity and be alert to any suspicious activity that may indicate that someone has gained unauthorised access to your account. This could include large and frequent withdrawals, or sudden changes to your trading strategy.
One thing is certain – if you take the necessary precautions and choose a reputable broker with robust security features, your trading account will always be safe from theft or other malicious activity.
Explore the world of ethical trading with our Islamic Trading Accounts. Join us in upholding the principles of fairness and transparency in the financial markets.
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