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For traders following Sharia Law, AvaTrade provides an Islamic account, allowing them to trade without incurring interest-based fees like swaps, ensuring compliance with Islamic financial principles.
| 🔎 Feature | 📌 Details |
| ☪️ Sharia Compliance | Complies with Sharia law by replacing interest-based swaps with a markup system. |
| 💷 Swap Fees | No daily swap fees; instead, a small administrative fee is applied. |
| 📊 Markets Available | Access to forex, CFDs, and commodities (cryptocurrencies are excluded). |
| 📉 Holding Period | A five-day holding period is required before swap fees may apply. |
| 💶 Cost Transparency | All costs are clearly outlined to ensure transparency and alignment with halal trading principles. |
Overall Rating
- 4.8/5
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, ISA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
AvaTrade Islamic Account – Key Point Quick Overview
- ☑️ Islamic Account Overview
- ☑️ How to Open an AvaTrade Islamic Account
- ☑️ In Conclusion
- ☑️ Frequently Asked Questions
Islamic Account Overview
AvaTrade’s Islamic Account is specially designed for Muslim traders, ensuring compliance with Sharia law by replacing traditional interest-based swaps with a “markup” system. Rather than daily swap fees, a small administrative fee is charged.
This account provides access to various markets such as forex, CFDs, and commodities, but excludes cryptocurrencies. A five-day holding period is required before swap fees may apply, and all costs are clearly stated to guarantee transparency and adherence to halal trading principles.
Frequently Asked Questions
What is AvaTrade’s Islamic Account?
AvaTrade’s Islamic Account caters to Muslim traders by replacing interest-based swaps with a “markup” system. Instead of daily swap fees, a small administrative fee is applied.
What markets can I trade with the Islamic Account?
The Islamic Account offers access to forex, CFDs, and commodities. Cryptocurrencies, however, are not available in this account.
Are there any fees for holding positions overnight?
A five-day holding period is required before swap fees can apply. After this period, a small administrative fee may be charged instead of traditional swap fees.
Is the Islamic Account transparent in terms of costs?
Yes, all costs related to the Islamic Account are clearly outlined, ensuring full transparency and adherence to halal trading practices.
Our Verdict
AvaTrade’s Islamic account offers a seamless solution for Muslim traders looking to engage in global markets while adhering to Sharia Law. With no swap fees and a range of halal trading options, it provides a transparent and ethical platform for Forex, commodities, and indices trading.
How to Open an AvaTrade Islamic Account
Opening an AvaTrade Islamic account is simple and can be done in three straightforward steps:
- Verify Your Account: Submit all the necessary documentation for account verification.
- Fund Your Account: Deposit funds into your existing trading account.
Once funded, request to switch to an Islamic account. Your request will be reviewed and processed within 1-2 business days.
Frequently Asked Questions
Can I trade cryptocurrencies with an Islamic account?
No, cryptocurrencies are not available for Islamic account holders.
Is there a difference in leverage between regular and Islamic accounts?
No, the leverage provided for Islamic accounts is the same as for regular accounts, although some instruments may have different conditions.
What if I want to trade instruments that aren’t available on the Islamic account?
If you wish to trade instruments like cryptocurrencies or certain FX pairs, you’ll need to opt out of the Islamic account privileges.
How long does it take to activate my Islamic account?
Once your verification is complete and your trading account is funded, the request to switch to an Islamic account is usually processed within 1-2 business days.
Our Verdict
AvaTrade’s Islamic Account offers a compliant and transparent trading experience for Muslim traders, replacing interest-based swaps with a markup system. With access to diverse markets and clear cost structures, it ensures a straightforward way to trade forex and commodities while aligning with Sharia law. It is an excellent option for those looking for a halal trading environment.
Overall Rating
- 4.8/5
Min Deposit
USD 100
Regulators
ASIC, FSA, CBI, BVI, FSCA, FRSA, ISA
Trading Platform
MT4, MT5, Ava Social, Ava Protect, Trading Central
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
In Conclusion
AvaTrade’s Islamic accounts offer a trading solution that complies with Sharia Law, allowing Muslim traders to participate in financial markets without conflicting with their religious beliefs. With swap-free trading, AvaTrade ensures ethical and transparent trading for clients across forex, commodities, and indices, all while adhering to Islamic financial principles.
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Frequently Asked Questions
What is an Islamic trading account?
An Islamic account is a type of account that complies with Sharia Law by removing interest-based fees (such as swaps) typically charged on overnight positions.
Are Islamic accounts subject to swap fees?
No, Islamic accounts are not charged swap fees, which are prohibited under Sharia Law.
Can I trade Forex on an Islamic account?
Yes, you can trade Forex on an Islamic account without incurring interest-based swap fees.
Can I trade gold and silver on an Islamic account?
Yes, AvaTrade offers halal gold and silver trading, compliant with Sharia Law.
Are there any restrictions on the instruments I can trade?
Some instruments like cryptocurrencies and certain FX pairs (e.g., ZAR, TRY, RUB) are not available for Islamic accounts.
Is trading CFDs allowed on an Islamic account?
Yes, CFD trading is allowed as long as it does not involve swaps or interest-based charges.
Can I keep positions open for more than 5 days?
Yes, but positions held longer than 5 days will incur swap fees.
Do I need to submit any documents to open an Islamic account?
Yes, you must provide the required documentation to verify your identity and fund your account.
Is it difficult to switch to an Islamic account?
No, switching to an Islamic account is straightforward once your regular account is funded.
What is the main benefit of an Islamic account?
The main benefit is that it allows Muslim traders to engage in financial markets without violating Sharia Law, especially regarding the prohibition of interest (riba).
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