Islamic account offering allows clients of Islamic religion to have an interest free accounts (swap free/rollover free) in accordance with Islamic religious principles.
Meaning of Islamic accounts:
This kind of broker account does not charge any overnight interest or swap charges. The reason is that ISLAM religion does not permit interest calculations on borrowed or lent money.
The accounts, which do not have the swap influence, give its owners an opportunity to keep the positions opened during an indefinite long period and do not provide any negative or positive commission for the rollover. In this case, the result of trading depends only on currency rate’s movement for that certain period. Thanks to its peculiarity, this type of accounts became popular not just in Islamic countries, but also in other countries all over the world.
