Islamic Forex Account
Are you a trader of Muslim faith? Then consider our Islamic Forex Account, which allows you to trade on the standard terms without having interest fees credited or debited. The swap-free option is available on our Trade.MT5 account, and ensures Islamic traders do not pay or earn swaps or interest on CFDs on currency pairs, indices, commodities, shares, ETFs and bonds.
Benefits of the Islamic (swap-free) account
Made for Islamic traders
The Islamic account offers the same tight spreads, fast execution and the popular MT5 platform as the standard Trade.MT5 account, while being swap-free.
No interest fees paid or received
The Islamic Forex account is swap-free, with no interest paid or received throughout the duration of the contract.
Broad selection of account features
Access all other trading account benefits, including low spreads and commissions, fast execution, and cutting-edge trading technology.
Islamic Trading Account Features at a Glance
No interest/swap adjustments on overnight positions
No spread widening or specific up-front commissions
Option to open an Trade.MT5 account as an Islamic Account
Same trading conditions as on standard trading accounts
Unrestricted access to all trading instruments
No restrictions on trading styles, strategies or use of Expert Advisors
Islamic Forex Accounts do not pay or earn swaps or interest on any CFDs on digital currencies pairs, indices, commodities, shares, ETFs and bonds, excluding CFDs on exotic currency pairs and digital currencies, where a small financing charge is applicable overnight.
Any trades open with a holding period of more than 3 days (1 day for digital currencies and exotic currency pairs) are charged a flat administration fee. Administration fees for all instruments can be viewed here.Click here to access the terms and conditions governing the use of the Islamic Account at Admirals.
FIND OUT MORE ABOUT OUR ISLAMIC ACCOUNT
If you have questions about our Islamic Account, we have the answers! Check out our Frequently Asked Questions. If you don`t find the answer you`re looking for, contact our customer support team.
The Admirals Islamic Account has been designed only for Forex and CFD traders who are unable to receive or pay swaps due to their religious beliefs.
Please note that Admirals is not a religious institution; therefore do not take our Islamic Account definition as permission to trade.
Please independently verify that all your trading is in accordance with your beliefs.
In order to open a live Islamic Account, Muslim clients must sign up for a Dashboard account through this page, apply for an Trade.MT5 account and provide the requested ID documents.
Please note that this option is not available if you already have a non-Islamic account with us.
As soon as you receive confirmation that your live account is open, you can initiate your first deposit via Dashboard using your preferred deposit method.
You can request a withdrawal of your funds any time via Dashboard. We normally process withdrawal requests within 24 hours on business days.
All Muslim clients who use an Islamic Account will be charged standard spreads and commissions and the administration charge.
Also, standard terms for dividend adjustments apply.
There are no swap or interest charges. We apply an administration fee justifiable for administration of related expenses to manage your account.
In order to provide fair and transparent access to global markets, Admirals has to pass on the costs associated with maintaining their open positions.
All our liquidity providers charge certain fees to keep positions open and this cost is passed onto clients via the administration fee.
Admirals calculates and applies the administration fee at 00:00-00:01 (EET) on all open positions on all Islamic trading accounts from Monday to Thursday. 3-day administration fee is charged on Fridays at 00:00-00:01 (EET) for rolling the open positions over the weekend.