For people looking to invest wisely, while honoring the tenets of their religion it can be difficult to find an adequate trading solution. That’s why CMTrading offers a unique Islamic Forex trading account to help those who wish to combine financial responsibility and their religious values in a friendly, respectful and seamless package.
Why does CM Trading offer Islamic accounts?
CMtrading 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 can be difficult to balance the tenets of Sharia with a standard account offering. Therefore we offer the specially tailored Islamic account to our Islamic clients.
What is an Islamic account?
Sharia law bars its practitioners from accumulating certain types of interest on their accounts. As many forex trading platforms operate 24/7, in the event of long positions where one wishes to keep the position open for longer than a single 24 hour period, the interest accumulated in the account can prove to be problematic for the devout investor. Therefore CMTrading has developed a unique Islamic account. With this account, the trader can take part in all regular financial transactions but the special fees and interest that would be offered by a standard account are instead transmuted to a 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 do not practice aspects of Sharia, there is, of course, no reason to open an Islamic Forex trading account, as it offers all regular services, simply with a different emphasis on fees and interest structure. For practicing Muslim investors however, the rewards are numerous, as it allows them to freely participate in all common Forex and trading arenas, without violating the laws of their religion. Sharia Islamic accounts 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 with an Islamic account.
If you are a practicing Muslim trader who would like to learn more about CMTrading’s special Islamic Forex trading accounts, get in touch with us and we’ll help you open your account today.
Open an Islamic Account with CM Trading today and trade with a regulated broker!