Forex

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SHR Capital provides Islamic accounts to trade FOREX (Swap free accounts )

 

ISLAMIC FOREX ACCOUNT

 
 

For investors looking for Shariah Complaince, SHR Capital offers to all clients an Islamic Forex, swap-free account. In respect of the Islamic faith, a swap-free account does not have rollover charges on overnight positions.

ISLAMIC ACCOUNT BENEFITS

 
  • Peace of mind. Trade in the international market in respect of the
    Islamic faith.

  • No ambiguity. With no swap charges on overnight positions,
    Muslim traders are not accumulating interests.

SHR Capital provides Islamic accounts to trade FOREX (Swap free accounts )

 

ISLAMIC FOREX ACCOUNT

 
 

For investors looking for Shariah Complaince, SHR Capital offers to all clients an Islamic Forex, swap-free account. In respect of the Islamic faith, a swap-free account does not have rollover charges on overnight positions.

ISLAMIC ACCOUNT BENEFITS

 
  • Peace of mind. Trade in the
    international market in
    respect of the Islamic
    faith.

  • No ambiguity. With no swap
    charges on overnight positions,
    Muslim traders are not accumulating
    interests.

WHAT IS THE SWAP RATE?

 

With SHR Capital Islamic forex swap-free accounts, Muslim investors do not have to worry about earning or paying interest rates, which goes against their religious beliefs.

When trading Forex, each currency has its own swap rates that are calculated on one standard slot (100,000 base units). In this way, swap-free accounts do not have overnight charges. To find out the latest forex swap rates, please visit the MT4 platform.

Important: Swap rates are set two days in advance. This means if trades are opened on Thursday, swap begins on Monday. For trades on Friday, swap begins on Tuesday, and so on.

Because the Forex market is closed on weekends, swap rates triple on Wednesdays. While this is the standard rate structure, this may change during the Holidays. Forex Swap Example:

Swap for currency pairs with USD as quote currency (counter currency):

contract size × lots × swap (points)×minimum fluctuation (points) × days Swap for currency pairs with non-USD as quote currency (counter currency):

contract size × lots × swap (points) × minimum fluctuation (points) × days × pip value at the closure of market For 5 decimal-quotation, buy EUR/USD at -2.2pts (swap points), sell at 0 pts If an investor opened 1 lot on Monday and closed the position on Thursday, then payable trading days for swap is 1+1+3=5 How To Calculate Swap Rate:

100,000 (contract size) ×1 lot×-2.2pts (swap points) × 0.00001(minimum fluctuation points) × 5 days=USD-11 In case of 4 decimal-quotation, the swap points is -0.22 and minimum fluctuation points is 0.0001, then the swap is the same

ISLAMIC ACCOUNT CONDITIONS

 

Every account holder has the right to one swap-free or swap standard account at any given time. In case of account abuse, SHR Capital reserves the right to revoke the swap-free account from the client.