Islamic Trading Accounts are available with 24k Markets. This means that you are able to trade in compliance with Sharia Law since it is a swap fee-free account.
All pairs/instruments are available to trade when using an Islamic Trading Account and you will still be subject to commission fees, standard spreads, and any other standard terms. The “charge” or “overnight cost” label found on your trade is applicable whenever a position is left open after the end of day server time.
To create an Islamic Account, simply go to your 24k Markets dashboard and follow these below steps:
- Select the “My Accounts” tab on the left-hand side toolbar.
- You will then need to click on the “Create Account” button.
- Select which Trading Platform and Account Type you require.
- Choose the Currency.
- Select the Leverage you wish to have.
We are unable to provide you with any advice regarding any of the above options.
An email will then be sent to the email you provided, kindly check for your Account Number and Trader Password. The Investor password is usually given to a 3rd party to allow them view-only access of your account. They will not be able to open/close any trades.
You are more than welcome to create as many Trading Accounts as you like and also change the Leverage of an existing account.