IC Markets is a well-established and regulated forex broker offering low spreads and instant execution. They also offer commission-free trading on several bonds and futures markets.
IC Markets offers swap-free accounts for Muslim traders on three account levels, including the cTrader, Raw Spread, and Standard versions. However, the extra fee charged may vary depending on the currency pair you trade.
Swap-free accounts
IC Markets offers swap-free accounts to traders of the Islamic faith. These accounts are available for both cTrader and MetaTrader platforms. They also provide a risk-free demo account on the MT4 and cTrader trading platforms for practicing and testing your trading strategies before investing real money.
Muslim traders who trade Forex are often faced with a dilemma about whether their religion forbids them from trading. This is because many brokers charge interest on their accounts, which is prohibited under Islamic Sharia law.
Swap-free accounts are a great solution to this problem. These accounts are based on the Islamic principle that interest should not be applied to positions open for longer than a trading day after the trading day has ended.
IC Markets Islamic accounts are available for both cTrader and the MetaTrader platforms, with spreads starting from 0.0 pips on the cTrader and Raw Spread accounts and one pip on the standard MetaTrader account. Islamic accounts also come with several other features and advantages.
No minimum deposit
IC Markets is an actual ECN broker that offers an impressive lineup of products, including one-click trading on most assets, a 50 oz no-touch forex bar, and a VPS to boot. They also provide several bonuses and incentives to attract new clients and keep those existing ones happy. For example, if you sign up for their free webinars, you can win an iPad mini emblazoned with IC Markets branding! Besides offering an impressive suite of products, the company also boasts a top-notch customer service department. They have a strong multi-lingual customer support team and a state-of-the-art infrastructure. Moreover, they are headquartered in Malta, making them an attractive option for investors looking to capitalize on the island’s stable financial institutions.
No commissions
IC Markets has an option that Muslim traders can use to trade without commission. This option is available on their Standard and Raw Spread accounts.
This is a great way to save money while trading Forex with IC Markets. It also allows you to take advantage of the broker’s unique trading infrastructure.
With IC Markets, you can trade the major currency pairs. Their platform has a range of powerful analytical tools that allow you to understand the market better.
They offer a wide selection of assets, including ten cryptos, six government bond indices, and futures on oil, VIX, and ICE.
The broker also offers a good range of educational content for beginners and experienced traders. This includes a blog and daily updates in their market analysis section. It also has a variety of videos and short clips to help you learn more about the market.
Easy to use
IC Markets has made it easy to open an Islamic account by offering a range of account types. They also provide a demo account that allows you to test the platform without risking any real funds.
Traders can choose from three account types, including a cTrader account, a Raw Spread account, and a Standard account. Each account type has a unique fee structure and trading platform.
The trading platforms are available in multiple languages, and they feature high-leverage options. Moreover, the broker offers 24/5 trading and support for scalping.
The platform is an excellent option for Muslim traders who want to trade forex, commodities, and indices markets. The broker also ensures that their customers are not subject to interest charges. In addition, they provide an extensive list of educational resources and tools that help them make informed decisions.
