ISLAMIC ACCOUNTS. 29.1 The Company’s Islamic account allows swap free trading in compliance with the Sharia Law, which means traders can trade on an Islamic account without being charged overnight fees. The Company’s Islamic account is only available for traders of the Muslim religion and should only be requested on the grounds of religious belief.
29.2 By submitting an Islamic request and following its approval, all of the Client’s MT4 accounts shall have the Islamic status (No Swaps).
29.3 For the opening of an Islamic account, evidence of religion must be presented. Islamic account holders cannot open non-Islamic accounts. The Company maintains the right to limit trading if there is evidence of manipulation.
29.4 The Company reserves the right to decline an Islamic request, without providing any explanation/justification to the client.
29.5 The Client further acknowledges that swap free applies for 10 calendar days only. Therefore, swap free accounts holding a position open for more than 10 calendar days, will be credited or debited swap accordingly.
29.6 The Company reserves the right to disable and/or enable swap free trading for Client’s trading account and/or reverse any cumulative profits derived from the said trading at any given time and/or retrospectively charge the waived swap fee. This can occur at times where there is suspicion of swap abuse aiming at generating riskless profit where the Client abuses the Company’s trading conditions/systems or where the Client’s trading strategy. imposes a threat to the Company’s trading facility or where the Company deems necessary in order to protect the smooth operation of its trading facility.
ISLAMIC ACCOUNTS. 25.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by AvaTrade, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers.
25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit.
25.3 AvaTrade reserves the right to cancel the aforesaid benefit at any time and take any action necessary in AvaTrade's absolute discretion due to abuse of this benefit.
25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by AvaTrade as interest), cancellation of transactions, and adjustment of account balances.
ISLAMIC ACCOUNTS. (a) In the event of a customer who due to its observance of Islamic religious beliefs cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The Customer hereby confirms and/or accepts and/or declares that a request to render their account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept the request of a customer to designate their account as an Islamic Account, at its sole and absolute discretion which shall be conclusive and undisputable by the Customer.
(b) In the event that the Company suspects that a Customer is abusing the rights conferred to them by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following:
(i) The Company may add commission upon each and every one of the Transactions executed on the Islamic Account; and/or
(ii) The Company may cancel the special rights and/or conditions conferred to the Account due to its classification as an Islamic Account, recall the designation of the Account as an Islamic Account and render it a normal trading Account; and/or
(iii) The Company may restrict and/or prohibit the Customer from hedging their positions; and/or
(iv) The Company may, at its sole discretion, close any open positions and reinstate them at the then real market price. The Customer hereby acknowledges that they shall bear all costs derived from the aforementioned action, including but not limited to, the cost of the change of the spread.
ISLAMIC ACCOUNTS. 26.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by i360fx, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers.
26.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 30 days and may not otherwise abuse such benefit.
26.3 i360fx reserves the right to cancel the aforesaid benefit at any time and take any action necessaryin i360fx's absolute discretion due to abuse of this benefit.
26.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by i360fx as interest), cancellation of transactions, and adjustment of account balances.
ISLAMIC ACCOUNTS. We offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free trading accounts are available only to those Private Investors who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is received by us, we reserve the right to request adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. If a Private Investor files a request for an Islamic (Swap-free) trading account at any time, the filing of any such request entails that all of such Private Investor’s other real trading Accounts with us will be converted into Swap-free trading accounts also, without any further notice being required. Conversion of a real trading Account to a Swap-free trading account is performed by our Support Department only upon the request and consent of those Private Investors who complete and submit a request for an Islamic (Swap-free) Account. Upon the receipt of such a duly signed and executed request, we shall evaluate the request and any ancillary documentation submitted to us and shall inform the Private Investor who requested the conversion by email whether the request is accepted or not. Private Investors are not allowed to use Swap-free Accounts to make profits from Swaps and may not request the payment of any Swap amounts that have been lost as a result of converting their real trading Account(s) into one or more Swap-free Account(s) for the period during which their real trading Account(s) has/have been converted into one or more Swap-free account(s). We reserve the right to revoke the Swap-free status granted to any real trading Account at any time without being obliged to provide any explanation or justification. Furthermore, in the event that we detect any form of abuse, fraud, manipulation, cash-back arbitrage, carry trades, or other forms of deceitful or fraudulent activity in regard to any Swap-free Account of any Private Investor, we reserve the right, at any time, (a) with immediate effect, to revoke the Swap-free status from any and all real trading Accounts of such Private Investor that have been converted to a Swap-free trading Account; (b) to correct and recover any un-accrued Swaps and any related un-accrued interest expenses and or costs pertaining to any and ...
ISLAMIC ACCOUNTS. 25.1 In the event that Customer, due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by FNory, its trading account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers.
25.2 In the event that Customer designates its account as an Islamic account, Customer may not keep transactions in such account open for more than 5 days and may not otherwise abuse such benefit.
25.3 FNory reserves the right to cancel the aforesaid benefit at any time and take any action necessary in FNory’s absolute discretion due to abuse of this benefit.
25.4 Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by FNory as interest), cancellation of transactions, and adjustment of account balances.
ISLAMIC ACCOUNTS. In the event that Customer due to its observance of Islamic religious beliefs cannot receive or pay interest, Customer may elect to designate, in the manner provided by the Company, its trading account to be an Islamic Account, which is not charged with, or entitled to, premiums and/or rollovers and/or interest. In the event that Customer designates its account as an Islamic account, The Company shall consider it an abuse of Islamic Account conditions if Customer keeps transactions open for a period of time. In circumstances where The Company considers that Customer is abusing the Islamic Account conditions commissions will be charged. A daily financing charge may apply to each FX/CFD open position at the closing of the Company’s trading day as regard to that FX/CFD. If such financing charge is applicable, it will either be requested to be paid by Customer directly to the Company or it will be paid by the Company to Customer, depending on the type of FX/CFD and the nature of the position Customer holds. The method of calculation of the financing charge varies according to the type of FX/CFD to which it applies. Moreover, the amount of the financing charge will vary as it is linked to rates such as LIBOR. The financing charge will be credited or debited (as appropriate) to Customer’s account on the next trading day following the day to which it relates. The Company reserves the right to change the method of calculating the financing charge, the financing rates and/or the types of FX/CFDs to which the financing charge applies. For certain types of FX/CFDs, a commission is payable by Customer to open and close FX/CFD positions. Such payable commission will be debited from Customer’s account at the same time as the Company opens or closes the relevant FX/CFD. Changes in our swap rates and calculations shall be at our own discretion and without notice. Clients need to always check our website for the then current rates charged. Rates may change quickly due to market conditions (changes in volatility, liquidity etc.) and due to various risk related matters that are at the firm's sole discretion.
ISLAMIC ACCOUNTS. In the event of a customer who due to its observance of Islamic religious beliefs cannot receive or pay interest, such customer may elect to designate, in the manner provided by the Company as this may be altered from time to time, their trading account to be a swap-free account not charged with or entitled to, premiums and/or rollovers and/or interest (“Islamic Account”). The customer hereby confirms and/or accepts and/or declares that a request to render their account as Islamic shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting the request of a customer to designate their account as an Islamic Account, upon its sole and absolute discretion which shall be conclusive and undisputable upon the customer. In the event that the Company suspects that a customer is abusing the rights conferred to them by the classification of the account as Islamic Account, the Company has the right, without prior notice, to proceed with one or more of the following: The Company may add commission upon each and every one of the trades executed on the Islamic Account; and/or The Company may cancel the special rights and/or conditions conferred to the Account due to Fits classification as Islamic Account, recall the designation of the Account as Islamic Account and render it a normal trading Account; and/or The Company may restrict and/or prohibit the customer from hedging their positions; and/or The Company may, upon its sole discretion, close any open positions and reinstate them upon the then real market price. The customer hereby, acknowledges that they shall bear all costs derived from the aforementioned action, including but not limited to, the cost on the change of the spread.
ISLAMIC ACCOUNTS. 35.1. In the event that a Client, due to his observance of Islamic religious beliefs cannot receive or pay interest, the Client may elect to designate, in the manner provided by the Company, its Client Account to be an Islamic Account, which is not charged with, or entitled to, overnight interest and/or rollovers.
35.2. The Client hereby confirms and/or accepts and/or declares that a request to render their Account as an Islamic Account shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse accepting the request of a Client to designate their account as an Islamic Account, upon its sole and absolute discretion which shall be final and not subject to dispute by the Client.
35.3. In the event that the Client designates his account as an Islamic account, the Client may not keep transactions in such account open for more than 14 days and may not otherwise abuse such benefit.
35.4. The Company may add commission upon each one of the trades executed on the Islamic Account and/or reserves the right to cancel the aforesaid benefit at any time and take any action necessary in the Company’s absolute discretion due to abuse of this benefit. Such actions may include, without limitation, the designation of the Islamic Account as a regular account and retroactively effecting required adjustments (e.g., setting off amounts from the account equal to amounts paid by the Company as interest), restrict and/or prohibit the Client from hedging their positions, cancellation of transactions, and adjustment of account balances.
ISLAMIC ACCOUNTS. 4.9.1 In the event of a client who, due to its observance of Islamic religious beliefs, cannot receive or pay interest, such customer may elect to designate, in the manner provided, their trading account to be a 'swap-free' account not charged with or entitled to rollovers and/or interest ('Islamic Account'). The customer hereby confirms and accepts that a request to render their account as Islamic shall only be made due to the said Islamic religious beliefs and for no other reason whatsoever. The Company reserves the right to refuse to accept the request of a customer to designate their account as an Islamic Account.
4.9.2 In the event that the Company suspects that a customer is abusing the rights conferred to them by the classification of the account as being an Islamic Account, the Company has the right, with prior notice, to proceed with one or more of the following:
i. Recall the designation of the Account as Islamic Account and render it a normal trading Account; and/or
ii. Close any open positions and reinstate them upon the then real market price. The customer hereby, acknowledges that they shall bear all costs derived from the aforementioned action, including but not limited to, the cost on the change of the spread.
