Islamic/Swap – free accounts. 1. The Company offers Swap Free Accounts (typically Islamic Client Accounts) for FX and other CFD trading, subject to the Company’s internal requirements being fulfilled. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an adequate justification for and/or proof of the necessity of any such request for any reason whatsoever, without being obliged to provide any explanation or justification. If the Client has a Swap Free Client Account, no Swaps or roll over charges will be applied to trading positions held overnight, if trade is open for less calendar days than the grace period (free swap period) provided. Any charges applicable to Swap free Client Accounts appear on the Trading Platform or on the Company’s Website.
Islamic/Swap – free accounts. 72.1 We offer the option of opening Islamic (Swap-free) accounts with us. Swap-free trading accounts are only available to those customers who, due to their religious beliefs, cannot use swaps. Therefore, in all cases where an application is filed with us for an Islamic (Swap-free) account, we reserve the right to require adequate justification for and/or proof of the necessity or need for any such conversion. In addition, we reserve the right, for any reason whatsoever, to refuse to process any such request, without being obliged to provide any explanation or justification.
Islamic/Swap – free accounts. 5.1 The Company may offer swap free trading accounts to clients who cannot use swaps due to their religious beliefs. Islamic/Swap-Free Accounts, imply no swap or rollover interest on overnight positions, which is against the Islamic faith. The Company may require supporting documentation to verify the opening of a Swap-Free Account. In addition, the Company reserves the right to refuse opening a Swap-Free Account, at its sole discretion, for any reason, without being obliged to provide any explanation or justification.
Islamic/Swap – free accounts. 62.1. We offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free trading accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an 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. While a client may file a request for an Islamic (Swap-free) trading account at any time, the filing of any such request entails that all of such client’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 only upon the request and consent of those clients 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 request and any ancillary documentation submitted to us and shall inform the client who equested the conversion by e-mail whether the request is accepted or not.
Islamic/Swap – free accounts. We offer the possibility to open Islamic (Swap-free) Accounts with us. Swap-free trading accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, in all instances where a request for an Islamic (Swap-free) Account is filed with us, we reserve the right to require an 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. While a client may file a request for an Islamic (Swap-free) trading account at any time, the filing of any such request entails that all of such client’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 Middle Office Department only upon the request and consent of those clients 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 request and any ancillary documentation submitted to us and shall inform the client who requested the conversion by e- mail whether the request is accepted or not. Clients 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 client, 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 client 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 all of such client’s Swap-free trading Accounts during the period f...
Islamic/Swap – free accounts. 6.3.1. The Company offers Islamic accounts or swap-free accounts in observance of Islamic religious beliefs that cannot receive or pay interest. Islamic account can only be granted upon compliance and completion of documents and other requirements subject to the approval of the Company. If the Client will convert his/her trading account into an Islamic account, he/she is obligated to comply with the necessary procedure, wherein the Client must provide additional documents to verify the account conversion request. The Company will evaluate and assess the documents if the Client is eligible to convert his/her trading account to an Islamic account. Once the account conversion request is approved, the Company will remove the overnight interests or rollovers.
