Islamic Account
Islamic forex accounts are a specific category of forex trading accounts also known as interest-free or swap-free forex accounts.
Islamic forex trading accounts permit clients of Islamic religion to trade on interest-free accounts (SWAP free or Roll Over fee) with no extra charge or penalty for the ability to trade in adherence with Islamic religious principles. Clients can open and close positions at any time within the Maps IG Meta trader 4 system without being constrained to holding them for a defined period.
TRADING TYPE
Islamic forex trading account conditions


Trading type
Islamic Account
At Maps IG, we offer clients the possibility to choose Islamic Forex Trading conditions for any of our Forex account types including Mini, Standard, or Premium accounts, regardless of base currency or leverage offered. Islamic trading accounts may also be used for Managed forex accounts, as the only determining factor is the religion of the client that the trading account belongs to Maps IG enables its clients to trade with no swap charges and with no other additional charges, spread or hidden fees, simply fair and ethical trading conditions for all.
The Islamic Accounts offered by Maps IG are not the same as the Islamic Accounts generally offered by other Forex companies. They differ based on the fact that Maps IG offers SWAP free accounts with no other additional charges, whereas most other companies transfer this fee by widening the spread on Islamic Accounts. In order to abide by Islamic religious beliefs, one must not pay interest but if that interest charge is transferred to a different type of fee, it is basically still a charge to cover the interest. This is also referred to as a SWAP fee in disguise. Maps IG does not do this, again demonstrating that Maps IG offers fair and ethical trading conditions.