About Forex Islamic Accounts
For the applicant looking to invest widely, but honor the tenants of their religious laws it can be difficult to find a product to accommodate you. That’s why CM trading offers a special Islamic Forex trading account to help those who wish to marry financial responsibility and their religion in a friendly, respectful and seamless package.
Why does CM trading offer Islamic accounts?
CM trading encourages people from all walks of life to embrace Forex trading as a key strategy to help secure their financial futures. For Muslim Forex traders, it becomes more difficult to balance the tenants of Sharia with a standard account offering. This is why we offer the specially tailored Islamic account to our Islamic clients.
What is an Islamic account?
Sharia law bars the practicing person from accumulating certain types of interest on their accounts. As many forex trading platforms operate 24/7, and in the event of long positions being held where you wish to keep the position open for longer than a single 24 hour period, the interest accumulated to the account thus proves problematic for the devout investor. This is why CM trading have developed their unique Islamic account for interested traders. You are able to take part in all regular financial transactions offered by the Forex trading account type you are interested in, but the special fees and interest that would be offered by a standard account are instead transmuted to set account and admin fees that enable the holder to remain in compliance with Sharia practices.
What advantages does an Islamic account offer?
If you are not practicing aspects of Sharia, then there is of course no special attraction to opening an Islamic Forex trading account as they offer all regular services, simply with a different emphasis on fees and interest structure. For Muslim investors, however, the rewards are numerous as it allows them to freely participate in all common Forex and trading arenas safe in the knowledge that they are not violating the laws of their religious practice. Sharia Islamic account statuses are overseen by a council of respected religious officers to ensure all accounts are compliant with the prescriptions of Sharia law, so the faithful may rest assured that they are acting with full religious compliance when opening an Islamic account.
If you are a practicing Muslim Forex trader who would be interested in learning more about CM trading’s special Islamic Forex trading accounts, you are more than welcome to get in touch with us to help you open one of these tailored accounts today.
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