does Anyone Know a broker who doesn't deal with Swap or Interest?

Aussie · #1 10-31-2008, 08:43 PM

G'day All

Can anyone recommend a good broker who does not deal with Interest or Swap?

I'm Muslim and cannot earn or give interest because its against my religion.

If anyone can help me or advice I would really appreiate your help..

Alan, Eagle and Earl I think you guys are doing a Fantastic Job out there Keep it up

Regards,

Ausssie

alan · #2 11-01-2008, 10:13 AM

One that quickly comes to mind is IBFX (InterbankFX). Some believe that the very notion of a no swap account is a logical fallacy, as it would present an arbitrage scenario

Aussie · #3 11-03-2008, 02:39 PM

Alan how do i contact IBFX?

How would I get started on a real account? Can you help Please

Thanks for you help.

Regards,

Aussie

alan · #4 11-05-2008, 01:20 AM

Quote:

Originally Posted by Aussie

Alan how do i contact IBFX?

How would I get started on a real account? Can you help Please

Thanks for you help.

Regards,

Aussie

Sure, just visit their website at:

https://secure.ibfx.com/

Silent0ne · #5 11-10-2008, 01:50 AM

Alan,

I use IBFX and I do pay and earn swap on trades held overnight. Their spreads are pretty tight though...............

Or maybe I just missed the sly humor in Aussies original post....

alan · #6 11-28-2008, 04:28 AM

I know but this gentleman wants an account that offers no swap...typically called an Islamic Forex Account...

Aussie, you should be aware that often brokers will increase the pip spread on islamic accounts. Do careful research before you committ to opening account with any broker.

Best of luck to you.

Miko · #7 12-01-2008, 10:52 PM

Some one just recommended these guy to me.

http://www.investtechfx.com/

from the web site:

"Islamic / Swap Free

Islamic accounts are also called swap free forex trading accounts. They are
sometimes referred to as Shariah forex accounts to signify that they are in
accordance with the Islamic religious law. This type of account is especially
intended to Muslims as swaps go against their religious beliefs. "

eurowolf · #8 12-15-2008, 10:15 PM

http://www.earnforex.com/muslim_forex_brokers.php

Here si a good resource list to start with

Best regards
Eurowolf

liggy002 · #9 01-23-2009, 03:28 PM

Interest accounts aren't all that bad either- interest can work in your favor too, just like leverage. Better to have interest than higher spreads- especially with this EA.

Amita · #10 04-22-2009, 01:48 PM

Quote:

Originally Posted by Aussie

G'day All

Can anyone recommend a good broker who does not deal with Interest or Swap?

Regards,

Ausssie

Take a look at forex-metal.com