Islamic Accounts

Created by Khaled Alatri, Modified on Mon, 28 Jul at 9:05 AM by Christie Chrisostomou

An Islamic trading account is a type of financial trading account that complies with Shariah law. These accounts are structured to avoid activities forbidden in Islamic finance, particularly:

Riba (interest): The paying or receiving of interest is strictly prohibited.
Gharar (excessive uncertainty or speculation): Transactions involving high uncertainty or gambling-like elements are not allowed.

As a result, Islamic accounts are typically swap-free, meaning they do not accrue or pay interest on positions held overnight.

How Do Islamic Accounts Work?

To maintain Shariah compliance, Islamic accounts:

Do not charge or pay overnight swap/rollover interest (which is considered riba).
May include an administrative fee for overnight positions.

Islamic Account Registration Rules

To ensure compliance and consistency, the following rules apply when registering for an Islamic trading account:

✅ Platform Availability: Islamic accounts are currently available only on MT5. Support for MT4 will be added in the future.
✅ Account Types: Islamic accounts are available exclusively for ECN and STP trading accounts.
✅ Base Currency: The Islamic account is currently offered only with USD as the base currency.
✅ Global Accessibility: Islamic accounts are available to clients from all countries, regardless of nationality or region.

How to Request an Islamic Account

Go to 'Accounts Overview' and choose your MT5 Account which you wish to make Islamic

Click on 'View'

Next to Islamic Account click on 'Apply'

Select the box to accept the Terms& Conditions and click on 'Continue' to finalize your request.