FORZEX TRADE offers to its clients a special account type - Islamic Swap-Free accounts. They are especially designed for Muslims as the swap charge is inconsistent with their religious commitment. Islamic accounts let the owners keep their positions open for an unlimited period without a swap coming up and down. In this case, the trading results can be affected only by changing currency rates over a specified time period.
All other trading conditions remain the same when opening the "Swap-Free" account, and the fee for position changing on the next day depends solely on the tool and opened lot number.
The activation of "Islamic account" service is carried out by our Client Relations Department on the basis of a written request (by E-mail).
The company reserves the right to decline the request for providing "Islamic account" service at any time without explanation.
A distinctive feature of trading on Islamic account is the interest income absence, namely:
there is no payment for the postponement of open trading position on the next day
Once a week the company charges the commission for using the "Islamic account" service in the amount of 5$ for a standard lot. It is withdrawn at Saturday`s night for all the trading positions being left open at the moment of postponing the orders (about 00.00 EET).
The company reserves the unconditional right to stop offering "Islamic account" service to its any client without a prior warning. In this case, the company is free to:
Each of the client`s Islamic accounts are transferred by the company to the group of common trading accounts.
The fact of receiving client`s request for activation of "Islamic account" service is automatically recognized as a sign that the client has read and agrees to the current terms of providing the service.