All Accounts Compliant with Sharia
Forex Islamic accounts are perfect for Muslim customers as they align with Islamic teaching and incur no swaps or interest costs on overnight positions.
At SaracenMarkets, we want to make trading convenient and fair for everyone, so we offer our traders a Swap Free for all customers, making your trading interest-free. Traders can experience an Islamic account with all the privileges of a normal account - fully obedient with Sharia.
وسيط حسن السمعة يحظى بثقة المتداولين
استمتع بجميع مزايا الحساب العادي من خلال حساب متوافق تمامًا مع الشريعة الاسلامية
Why Forex Islamic Accounts?
For example, you open a long position for EUR/USD. It means that you borrow USD to buy EUR. Let’s assume the interest rate on EUR is 0.5% and 1.5% on USD.
Imagine you borrow $100 000 from the US Federal Reserve to deposit 95 000 euros to your account in the European Central Bank. When you transfer positions, you’ll pay a 1.5% rate for your loan in the US Federal Reserve and receive 0.5% interest on your deposit in the European Central Bank. However, the Muslim religion forbids any interest credited from loans or deposits.
Risk Warning: Forex and CFDs are leveraged products which carry a high level of risk.