Islamic Forex Account
The Islamic account in the binary options trading market is that account that is free of any interest, in line with the laws of Islamic law.
There are many well-respected companies in the UAE that you can trust and trade with. These companies will be displayed later
What is the idea of making the account?
The idea on which Islamic accounts are built is that 24 hour trades are closed daily at five in the afternoon New York time. The deals are not closed for the next day and the interest accrues on them. This is the problem that contradicts Islamic law, which many see as an obstacle in the way of their trading in the binary options trading market, as some describe these benefits as usurious benefits.
The usurious interest is the sums that the trader pays to the company in exchange for keeping the account open for another day or for another period.
Trading companies offer the Islamic account to meet all needs
Therefore, it was necessary for some trading companies to provide Islamic trading in binary options, which is consistent with the laws of Islamic Sharia. Traders who choose to use Islamic accounts can trade without getting any interest or incurring any fees. There are no additional fees associated with the Islamic account.
In addition, you should be confident that you will not incur any barter or exchange fees in any way. These companies value your faith and see that you are one of their most valuable customers, so you must always have complete confidence in their fair trading policies and ethics.
The funds of Islamic accounts are placed in accounts that operate without interest and where trading is not available on a profit margin or using financial leverage.
The most important features of Islamic accounts lie in the following points:
No additional fees are incurred while opening Islamic accounts.
Providing the highest level of service and providing an experienced account manager.
There are no hidden fees, charges or interest fees
There is no interest policy: the “no interest” laws allow clients to keep a position open for an indefinite period without having to pay any additional fees or costs to your account.
The Islamic account provides a very comfortable environment in dealing
The company does not benefit and does not get any commissions from your account
There are no interest or commissions on swap contracts
Binary options trading accounts operate with a zero interest policy (without interest). Positions can remain open indefinitely without incurring any interest or charging any fees. These companies also provide you with specialized support from experts who are fluent in the Arabic language and are familiar with Islamic Sharia laws related to trading and investing in general in binary options.
Is trading binary options halal?
According to the sayings of many religious scholars, your trading in binary options is permissible if:
• I traded with a real binary options company that does not try to cheat.
• To try to be restrained while trading while not trading to compensate for the losses caused by previous trades.
• Try to trade with a clear strategy after observing the market and economic indicators.
• Not to get any “money as a reward” or to trade in the “risk-free deals” system.
The best provider of Islamic accounts:
There is a group of trading companies that always strive to meet the needs of their clients by providing innovative products and services that help them achieve success in trading binary options. One of the best companies that we recommend you to deal with if you want to open an Islamic account is
So you can go directly to any of these companies and communicate with the customer support department to direct you the support and advice necessary for you to get started.