{"id":220328,"date":"2021-02-10T08:59:24","date_gmt":"2021-02-10T13:59:24","guid":{"rendered":"https:\/\/insidebitcoins.com\/?page_id=220328"},"modified":"2021-10-13T14:08:32","modified_gmt":"2021-10-13T18:08:32","slug":"islamic-accounts","status":"publish","type":"page","link":"https:\/\/insidebitcoins.com\/forex-brokers\/islamic-accounts","title":{"rendered":"Best 6 Islamic Accounts & Swap Free Brokers 2021"},"content":{"rendered":"

What is a Swap Free Account?<\/strong><\/h2>\n

A Swap-free account or Islamic account is a type of trading account which does not involve interest for holding the position overnight. Swap-free accounts have been introduced recently to facilitate Muslims as Islamic Shariah principle forbids Muslims from paying interest on a loan or paying interest in the form of a swap.<\/p>\n

The broker is not eligible to deduct any rollover interest swap from Islamic accounts. Consequently, the result of trading solely depends on exchange rates during the particular time frame. The broker, alternatively, uses different strategies like charging fixed commission combined with widening the spread rather than deducting a portion of the rollover interest swap.<\/p>\n

Although there are several swap free brokers available in the market that are offering Islamic accounts, we have selected 7 best brokers that are providing best Islamic accounts. Below are the criteria we used for brokers selection.<\/p>\n

<\/i> What is Forex Swap? A swap is a rollover interest or commission charged by a broker for extending a trader’s position overnight.<\/em><\/div>\n
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How We Rated these Islamic\/Swap Free Brokers<\/strong><\/h2>\n

The role of brokers in forex or stock market trading is significant. This is because their trading platform along with other key factors plays a key role in increasing profit-making opportunities. Following are major factors that we used for selecting the best broker for Islamic accounts:<\/p>\n

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