Islamic trading accounts are important trading facilities as they allow investors, who follow the Islamic faith, to trade interest free. They are also referred to as swap-free or interest-free accounts.
As such, clients who successfully qualify for these premium trading accounts will incur no financial penalties or additional charges no matter what legal trading actions they undertake. For example, they can activate new positions at any time and are not complied to keep them open for any specified periods.
OptionRally’s Islamic trading account conditions include:
1. Our No Riba Policy:
‘No Riba’ rules permit qualifying clients to maintain opened positions for an undetermined time without suffering any additional charges. However, please be advised that should this very favorable facility be abused then OptionRally may, at its sole discretion, revoke its ‘No Riba’ policy with offending clients by sending a 48 hour notice by email.
2. Hibah (Gift or Donation):
Our Islamic clients also have the opportunity to voluntarily bestow ‘hibah’ or gifts onto organizations, approved by OptionRally, in return for loans.
3. Musharaka (better known as joint ventures):
Processors of our Islamic trading accounts also have the exciting benefit of using Musharaka. As such, they can then activate joint ventures or partnerships with other traders with the intent of distributing profits and losses in accordance to a predetermined ratio.
Once you have qualified for one of our Islamic Accounts by confirming your faith, you will then have the freedom to choose any of our account types including Mini, Standard, Executive, VIP and Managed. This offer extends regardless of leverage offered and the base currency you intend to trade. You will also enjoy our ‘fair and ethical’ trading policy by never experiencing any surprise or hidden spreads, charges or fees.
In particular, please carefully note that OptionRally
Islamic Accounts are superior in many ways to those offered by other Brokers. For instance, when using our SWAP FEE accounts you can always be fully confident that you will never be faced with any additional charges or fees whatsoever. This differs from many of our rivals who adopt the distasteful practice of transfer fees by widening their spreads.
In addition, you can be totally assured that we will not attempt to disguise swap fees on your Islamic Account in any form whatsoever. As we appreciate your custom and regard you as our most valued asset, you can always have full confidence in our ‘fair and ethical’ trading policies.
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