Forex Islamic Accounts Guide: Muslim Trading of Halal Shares, Crypto and Commodities
Muslim investors have been showing great enthusiasm about the forex market since the late 1990s.
Islamic countries in general also have been interested in its development: a formed forex market will allow them to strengthen their positions in the export-import sector, securing their economic advancement.
As “classical” forex trading does not comply with Islamic Law, in order to make trading available to all Muslims a new instrument was designed — an account type that omitted all unwanted elements. Islamic accounts don’t charge a fee for positions lasting more than 24 hours and have a number of other adjustments to accommodate Islamic traders.
One of the main characteristics of an Islamic account is that it allows traders to keep positions open without charges for transferring a position and the absence of some other commissions and interests. Thus, traders who choose to hold their positions longer will greatly benefit from these accounts.
In our new article, we have studied in detail the specifics of forex trading in Islamic countries, the advantages of Islamic accounts for traders, and what popular instruments are available for trading. We also compiled a list of verified forex brokers that provide the opportunity to trade to people from Islamic countries.
Learn how to trade Forex, Crypro and Commodities on Islamic accounts
Read more our articles about forex
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