Islamic Accounts are designed for, and accessible only to, clients who cannot pay or receive swaps or rollover interest on overnight positions due to religious reasons. In order to open an Islamic Account a client must first open a Metatrader Platform account and then request for it to be converted into an Islamic Account. Clients can make this request by contacting us directly on the details available on the FP Markets website from here When a position is held over two consecutive trading days an Islamic Account will be charged an administration fee – administrative charges are given below.
|AUS200, CHINA50, FRA40, GER30, HK50, JP225, NAS100, STOXX50, UK100
|AUDNZD, EURCZK, US500, USDCZK
|DJ30, SING30, EURSEK, USDSGD
|AUDSGD, CADJPY, EURCHF, EURJPY, GBPCAD, ITA40, NZDSGD, NZDUSD
|AUDCAD, AUDUSD,CADCHF,CHFJPY, EURGBP, EURHUF,NZDCAD,USDCAD,USDHUF,XAGAUD
|EURCAD, GBPJPY, GBPSEK, GBPUSD, NZDJPY, XAGUSD, XAUAUD, BTCUSD
|AUDCHF, AUDJPY, EURCAD, EURUSD, GBPCHF, NZDJPY, USDJPY, XAUUSD, XTIUSD
|AUDCHF, EURSGD, GBPAUD, GBPPLN, NZDCHF,USDCHF,USDCNH,USDPLN,USDSEK
|EURAUD, EURNZD, GBPNZD
* Charges in USD per standard lot
We reserve the right to update the administration charges from time to time, any amendments to the charges will be notified to clients via the FP Markets website .
Islamic Accounts will not debit or credit swap charge or swap credits when holding positions overnight.
Apart from these differences, Swap Free Accounts will have the same trading conditions and terms as a regular Metatrader Platform Account.
Terms and Conditions
Please refer to our Account Terms for the specific terms and conditions that relate to Islamic Accounts.
If you hold an open Long position on a Cash Index CFD contract that pays a Dividend you will be entitled to an amount equal to the amount based on the number of contracts you hold after the close of the business day before the ex-dividend date.
Conversely, if you hold an open Short position in a Cash Index CFD which pays a dividend you will be required to pay an amount based on the number of contracts you hold after the close of the business day before the ex-dividend date. This adjustment may be made either as a cash adjustment into your Metatrader trading account or included into the end of day swap rate.