CMTrading provides a halal gateway to the markets with an account offering that strictly adheres to the Sharia principles.
Sharia-compliant Trading Accounts
CMTrading Islamic Accounts meet all of the requirements of Shariah law and the principles of Islamic Finance. These swap-free accounts carry no swap charges or rollover interest on positions that are held overnight.
In addition, Islamic account owners can only access Shariah-compliant and approved financial instruments. Exotic currency pairs, cryptocurrencies, and stocks are also included and can be traded under our swap-free Islamic accounts.
Open an Islamic Trading Account in 3 easy steps:
Islamic Trading Account Benefits
Frequently Asked Questions
In forex trading, if you hold your positions open overnight, you will earn or pay rollover interest. These swap charges are determined by the underlying interest rates of the currency pairs involved as well as whether you are buying or selling a particular pair of currencies. CMTrading’s Islamic Trading Accounts offer an option to avoid paying or receiving interest while trading CFD contracts.
Muslim scholars have determined that forex trading is halal so long as certain requirements are followed. Online CFD trading involves speculating on the rise or fall of the underlying assets and therefore, it is permitted under Sharia law.
According to the principles of Islamic finance, riba or interest is prohibited. In online trading, holding positions open overnight sometimes requires that the client pay or receive interest according to the interest rate differential of the underlying contract.
Therefore, followers of Islam should who seek to engage in online trading while respecting the Quran and remaining compliant with Sharia law, should consider a CMTrading Islamic Account.
Islamic Trading Accounts are reserved solely for our Muslim clients. Therefore, you may need to provide documents that attest to your faith in order to qualify for an Islamic Trading Account with interest-free privileges.
If you need further information or assistance regarding our Islamic Trading Accounts, please do not hesitate to contact us.