Swap Free Islamic Account at TadawulFx

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Swap Free Islamic Account at TadawulFx

Written by forexwatch on 25 May 2010

Islamic Accounts in Online Forex Trading are a specific category of accounts and are also known as Interest Free or Swap Free Forex accounts. At TadawulFx the Swap Free Islamic Accounts are formulated in accordance and in compliance to the Islamic Syriah Laws.

Swap charges in Forex Trading is the interest charges for an overnight open positions. It is a rollover interest that is earned or paid for holding positions overnight.

Muslims are forbidden in participating in transactions with interest charges.

Al Imran Verse 130

With the Muslims in mind, Forex Brokers and Companies have programmed special trading accounts called Islamic Accounts. The Islamic Accounts is Swap Free. In another words the account is without interest charges and suitable for Muslims.

Swap Free Islamic Accounts at Tadawul Fx

It should be noted that the Swap Free Islamic Accounts offered by TadawulFx is not the same as the Islamic Accounts generally offered by other Forex companies. TadawulFx is ethical and more meticulous in this respect. The Islamic Account or the Swap Free Account is formulated in compliance with Islamic Syriah Laws.

Islamic Accounts offered by other Forex Companies impose interest charges in various disguised manner. Some Companies widen their spreads to cover the Swap charges they do not charge their clients. There are also Companies that charges the interest charge at the end of the week but call it a service charge. These charges under disguise are still interest charges and Muslims are forbidden in participating in those trading activities with interest charges.

No Trading Strategies Restrictions

There are no restrictions in the trading methods at TadawulFx. Traders are allowed to use all trading strategies. Hedging and Scalping techniques are acceptable.

Automated Forex Trading

TadawulFx is automated trading friendly and allows Automated Forex Trading freely. All types of Automated Trading Robots can be used on its Meta 4 Trading Platform without fear of being penalized.

Trading Platform

The trading platform at TadawulFx is the Meta 4. Tadawul Fx is known to offer the best Swap Free Islamic Accounts on Online Meta 4 Trading Platform as well as on Mobile Meta 4.

Spreads at TadawulFx

The spread at TadawulFx is very competitive and it is at fixed rate all the time, twenty fours a day and five days a week, irrespective of before or after major fundamental economic news announcements. This fixed spread policy also applies for Swap Free Islamic Accounts.

Opening of Swap Free Islamic Account

To open a Swap Free Islamic Account with Tadawul Fx , simply complete the Online Forex Trading account opening form and select the ‘Swap Free’ option. TadawulFx does not require any documents as proof of the traders’ religion.

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