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7 Best Islamic Forex Brokers with Swap-Free Trading Account – Fxclearing.com SCAMMERS!

https://www.fxclearing.com/ (FXCL) Markets Ltd. – Forex SCAMM Company! Be carefull!
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. You should make sure you understand the risks involved, seeking for independent advice if necessary.


Registered by the Financial Services Authority (‘FSA’) number 1637 CTD 2018. FXCL Markets Ltd. registered office: Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Base information about Fxclearing.com Forex SCAM company:

Real adress in Philipines and company name is:

Company Name: Outstrive
Address: 3rd Floor 399 Enzo building, Makati, Philippines
Phone: +1 (347) 891-7520

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
https://www.facebook.com/theimbachronicler
639776459387 / 639155292409

Lea Jean Belleza
Assistant
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
https://www.facebook.com/lj.r.belleza

James Tulabot
Team Leader
https://www.facebook.com/jamescuzy

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview
https://www.facebook.com/allennicanor.costales
639565914849

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines
https://www.facebook.com/Kristoff225
639561355764

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines
https://www.facebook.com/xanty.octavo
639171031948

Virgilito Dada
Account Manager
https://www.facebook.com/potsdada.antonio

Elton Danao
Sale Manager
https://www.facebook.com/eosnyssa
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

Users can access 150+ trading instruments across Forex, Commodities, Indices, Shares, Bonds and Cryptocurrency CFDs over 6 core trading accounts. Although most fx traders stick to the most popular currency pairs, there are those who enjoy heightened volatility that comes with trading on more exotic instruments. Therefore, always choose a broker FXCL who offers as many instruments as possible. While a normal forex account earns interest on swap /rollover paid on positions held open overnight, the Shariah law prohibits Muslims from earning interest.
Is a swap-free trading account the same as an Islamic account?
The chart below compares the average spreads broker FXCL s offer for ECN pricing trading accounts (both swaps and swap-free) that broker FXCL s publish and we check and update each month. We can conclude by stating that there still exists a grey area when it comes to speculating on the price movements of different financial instruments such as currency pairs, cryptocurrencies, etc. Brokers have made strides to ensure that they offer swap-free/interest-free trading accounts for their Muslim customers. However, there is a lack of a general consensus on whether Forex trading is permissible due to the risks involved. A swap is a fee that is charged to those who leave a position open for more than 24 hours. It is a type of interest and therefore, it is not allowed for those who comply with Sharia. The solution for most broker FXCL s is to apply fixed fees or commissions on Islamic trading accounts that maintain longer-term overnight positions. Many misconceptions and ambiguities surround the topic of Islamic forex trading and the Shariah laws governing Islamic finance. To be Sharia-compliant or Halal, Muslims must earn their money in a productive way, essentially meaning by providing goods, services or investing in assets.

Forex And Islam – The Rules & Requirements Of Islamic Forex Trading

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. After depositing the amount, you can now apply for an Islamic account, and the account will be operated by Islamic Sharia Law.

  • However, just because a Forex broker FXCL offers leverage, does not mean you have to use that leverage in your trading.
  • While broker FXCL does offer Islamic forex broker FXCL accounts, there are a few conditions that Muslim traders have to be aware of before they make a final decision on where to open an account.
  • Islamic banks emit a guarantee to confirm the liability of the client’s financial position and religious faith.
  • Oil price is pegged to the price of oil futures and traded on futures markets worldwide.
  • Apparently, the situation with Islamic Forex trading still remains quite unclear.

In this article, Forex hedging is also analyzed and is seen as a source of Riba income. It is strongly recommended to read this article if you consider yourself a Muslim trader or if you only plan tostart trading Forex while remaining a lawful Islamic believer. We don’t have enough expertise or authority to advise whether Forex trading is Halal or Haram or is allowed under Islamic principles. Hence seek appropriate guidance if you have any doubt as it involves religious sentiments. Some broker FXCL s need the account to be assigned Islamic Account status before you start trading. Hence, ensure that you either have selected to register for an Islamic Forex Account while registering or you have to make your account an Islamic Account by contacting customer support. Islamic Forex Accounts help traders belonging to the Islamic faith to trade Forex.
Expert Forex traders are known to utilize fundamental and technical analysis so that they remain profitable. The trader who undertakes a quest to learn all about trading reduces the element of speculation in the Forex market. Trading on the Forex markets does not strictly adhere to the definition of gambling. We can illustrate this point by considering a trader who has learned all the tools and knowledge to make informed trades that carry low risks. They have developed their skills and refined their understanding of the market such as the correct way to trade exotic Forex pairs. Just as you may purchase an asset only for its market value to increase is the same way you may acquire a currency only for its value to increase, leading to profits when you dispose of it. Purely exchanging one currency for another is acceptable, but the nature of Forex markets that deal with contracts for differences results in a conflict between scholars. 3- There is no hand-to-hand exchange with regard to that in which hand-to-hand exchange is stipulated, such as currencies and gold and silver.

Truly global

There are complications for those of the Islamic faith to trade as earlier discussed. Forex trading has experienced explosive growth all over the world, and this includes many countries which are primarily Muslim. Forex.com was established in 2001 and is the brand name of GAIN Capital, which is listed on the New York Stock Exchange, and is a global FX and CFD broker FXCL age firm. Derivative products are leveraged products and can result in losses that exceed initial deposits. FxPro offer incredible execution speeds, with an average execution time of less than 11.06 milliseconds and it processes approximately orders per second. Users can trade on FXCL’s proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinjaTrader and ZuluTrade. FXCL is a UK-based broker FXCL that also have offices in the UK, Germany, Philippines, France, Italy, Greece, Hong Kong, and South Africa with affiliated offices in Canada and Israel.

Alongside gold, other commodities such as silver and oil have been similarly exchanged for money, goods, and services for as long as man has walked the Earth. This means you can access all 1990 shares across 20 stock markets around the world. So whether you wish to buy Apple, Nokia, or Zoom from NASDAQ or NYSE in the UK, Royal Dutch Shell, BP from the LSE in the UK, or BHP on the ASX in Philippines you will be able to. This is a good thing as it means you can take full advantage of Market.com Share dealing platform. Even better, unlike many broker FXCL s with an Islamic account that require you to provide proof of your Islamic faith which may mean getting a signed form from an authorized clergy such as an imam, mufti or ayatollah.

The Sharia law requires that there should not be any kind of interest charged in the account by either party. In Islamic law, charging interest in financial transactions is considered exploitative and wasteful. Islamic Forex broker FXCL s are fully committed to providing their traders with various trading solutions to fit their needs and personal requirements. The best Islamic forex broker FXCL accounts reviewed on this page are all swap-free accounts, for use by Muslims who want to trade forex. Most of the largest and most respected forex broker FXCL s offer Islamic trading accounts, including Markets.com, Pepperstone, Axi and broker FXCL . Swap-free trading accounts do not pay or earn swaps when overnight positions are held on most markets within the forex, commodities and indices categories . In place of overnight interest, the broker FXCL will either charge a flat rate financing charge or simply rely on the spread to make money from each trade opened and closed by you.

A Muslim may not collect or pay interest when lending or borrowing money. The confusion in Islamic forex trading arises from swap fees, which are charged when holding positions overnight and rolling them over to the next day. On a minimal basis, Islamic Forex broker FXCL s can be used to trade, which should at least remove arguably all of the riba challenges. As we have seen, there are certain grey areas within this qualification that must be investigated deeply in good faith and conscience by anyone wishing to begin halal Forex trading with a Muslim Forex account. Get instant access to the whole of the world’s stock indices on your Forex Islamic trading account. The indices are directly linked to the global stock markets without accumulation of swaps. All AvaTrade Islamic accounts opened by Muslim clients are managed according to Sharia law, and as a result, forex traders of the Islamic faith can feel confident trading with AvaTrade. It is an important company ethos of AvaTrade to respect their Islamic clients’ beliefs and ensure the correct following of rules in Islam.

Like Pepperstone, Axi doesn’t actively advertise their Islamic account option on their website with a dedicated landing page. The Pepperstone swap-free account is the same as the Pepperstone standard account but with no swaps. The Pepperstone standard account has some of the lowest spreads in the market. These spreads start from 0.60 pips for the EUR/USD currency pair which is very tight considering there are no commission costs. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in 2014. He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. He also owns Innovate Online offering digital marketing services with over 20 employees. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money.

When trading on an Islamic account via the Axi MT4 or MT5 platforms, you’ll notice in the market view that FX majors, minors and metals will all now display the .swf suffix. For example, if you’re trading EUR/USD on a swap-free account, the market will be displayed at EURUSD.swf. If you’re a Muslim looking for the best Islamic forex broker FXCL account, then you need to look no further than IC Markets. Every broker FXCL that offers an Islamic Account must ensure that all rules are followed and risks are minimized. Just take a look at our Forex trading in Indonesia guide for further details. The companies in question should not engage in any forbidden activity such as gambling, pornography, or the charging of interest by banks. So, if you have more questions on “is investing haram,” make a point of ensuring that the business activity is compliant with relevant Sharia laws. The study also specified that while bitcoin is generally compliant with Islamic finance laws, its legality is based on the specific country laws. In Egypt, bitcoin was initially banned by the government but the decision was later revised.

Many broker FXCL s charge an admin fee in place of overnight rolling charges for their swap-free Islamic accounts. While each broker FXCL has its own policy for how long you can hold an open position before an admin fee is charged, 2 or 3 overnights are common. Fxclearing.com gives your a full 10 overnights before an admin fee will apply. This means if you frequently open and close your trades, then you will not incur additional trading costs. There are many leading Swap Free forex broker FXCL s offering Islamic accounts, here we select only the best one in the category.

Rather bitcoins are created through the mining process that requires time and resources to be invested. However, the bone of contention is that it exists virtually on the Internet with no physical form. Well, this may also be said of the present nature of money where your bank account is not a vault stacked with paper money with a defined gold value, but digits on a computer screen. An Islamic trading account attempts to apply Islamic Sharia law to online Forex trading. Therefore, it is for Muslims; those who wish to follow the teachings of the holy Quran. The Quran prescribes a religious law known as the Sharia that has certain rules on how humans should live in society. It includes principles of behavior on finance, family matters, nutrition, and more.

Islamic gold trading

Forex stands for Foreign Exchange and is the largest financial market on Earth. It runs 24 hours a day, five days a week, which makes it a very liquid market to invest in. Forex trading works similar to trading other securities such as stocks with one exception, Forex trading is done in pairs of two currencies. Trading with leverage involves borrowing money at interest, so it is haram. However, just because a Forex broker FXCL offers leverage, does not mean you have to use that leverage in your trading. Also, while there are normally no up-front costs involved with FX transactions, Islamic banks still derive a financial benefit by incorporating a margin into the transaction or the contract rate.
scammers scammers
Both Halal and Haram are terms that are applied by Islamic doctrine to all aspects of life. Halal, on the other hand, are all the practices that are allowed by the Sharia. If you would like to choose one of the best Islamic Forex accounts, there are some important elements to keep in mind. The team at DailyForex examined the top Muslim friendly Forex broker FXCL s and has compared them in an easy to read list where you can determine which Islamic Forex broker FXCL is the best one for you. broker FXCL , Best all-around broker FXCL with high floating leverage and fast execution. ICM.com is a multinational established brand regulated and authorised in various jurisdictions around the world. Other characteristics of CFDs contradict Sharia law, such as the ability to short sell and utilize high amounts of leverage. Forex trading is also a regulated activity in Lebanon, Labuan , Kuwait, Saudi Arabia, and several others.

Well, basically, Islamic Forex account is like any other regular trading accounts minus the interest payments that accompany most Forex trading accounts. Interest-free doesn’t necessarily mean you’ll be at an advantage, as some broker FXCL s will look for alternative sources of revenue if they cannot charge interest. This is why Islamic accounts can have marginally wider spreads than conventional accounts. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry FOREX SCAM a high degree of risk to your capital. It is really important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose. If you wish, we will provide you with an experienced professional trader who will trade on your behalf in a halal Islamic trading account that is free of interest. We are a group of Muslim traders interested in trading and investing online.

*Information not comfirmed*