Islamic Account

EuroCapitals Islamic Accounts

EuroCapitals is proud to be one of the few brokers who are officially Shariah compliant.

The EuroCapitals Islamic accounts have been tailored for Forex traders who are unable to receive or pay swaps due to religious beliefs. Fully compliant with Shariah law, both our Islamic Standard STP and Islamic RAW ECN accounts allow traders of Muslim faith to capitalise on EuroCapitals’s institutional grade liquidity, streamed from the world’s largest institutions, direct to MT4.

Our certifications of Shariah compliance were obtained by Sheikh Hasan Qamra, the Chairman of the Shariah Supervisory Board.

What is an Islamic Account?

The EuroCapitals Islamic Accounts, also known as a swap-free account, incur no swaps or interest charges on overnight positions. Instead, the account holder is charged an administration fee on positions which is deducted from the balance of the account.

Gold and Silver

EuroCapitals has exclusive partnerships which are crucial in forming our Islamic Gold and Silver trade offering. Islamic compliant Gold and Silver trading must be backed by physical gold and silver, and it's our partnerships that have made this possible.

Oil

In order to make our Oil CFD compliant for our Islamic clients, our prices are tied to the price of Oil Futures from exchanges around the world without accruing any positive or negative swaps. Tap into volatile Oil trading markets today.

Experience our
RAW ECN spreads today

Indices

Instantly access 13 global indices without collecting any swaps. Instead, an administration fee is credited to, or deducted from your account balance. Start trading the world’s most liquid stock exchange indices now.

Forex

Trade the Forex market with our Islamic account. Fully compliant to the religious needs of members of the Muslim faith, Islamic account holders will not be charged daily swaps. Trade the Forex market swap-free anywhere, anytime.

Share CFDs

Our US and Hong Kong listed share CFDs are all tradable through our Islamic STP and RAW ECN accounts on MT4. As one of the only brokers who offer such a huge range of Shariah-compliant share CFDs, it has never been a better time to trade with EuroCapitals.

Compare Forex Trading Islamic Accounts


The Islamic Standard STP Account is swap-free, and instead has a small administration fee for overnight positions. Perfect for Islamic traders who want simple, direct market access with no commissions

100% Shariah Compliant
YES
Swap-Free
YES
Platform
MetaTrader 4

WebTrader
Mobile Apps
Execution Type
STP
Range of Markets
40+ Currency pairs
13 Indices
20 Commodities
100 Share CFDs
Minimum Deposit
$250
Minimum Trade Size
0.01 lot
Leverage
Up to 100:1
Spreads from
1.4 pips
Commission
$0
$2.00 USD per lot rebate?
YES
Account Base Currencies
$ USD $ USD
£ GBP € EUR
$ SGD $ CAD
 

The Islamic RAW ECN is designed for the experienced Islamic trader who requires deep liquidity and razor sharp spreads. Instead of charging swaps there is a small administration fee deducted

100% Shariah Compliant
YES
Swap-Free
YES
Platform
MetaTrader 4

WebTrader
Mobile Apps
Execution Type
ECN
Range of Markets
40+ Currency pairs
13 Indices
20 Commodities
100 Share CFDs
Minimum Deposit
$500
Minimum Trade Size
0.01 lot
Leverage
Up to 100:1
Spreads from
0.0 pips
Commission
$3.00 per lot per side
$2.00 USD per lot rebate?
NO
Account Base Currencies
$ USD $ USD
£ GBP € EUR
$ SGD $ CAD
 

Islamic Forex Account FAQs


Who can use a EuroCapitals Islamic account?
  • The EuroCapitals Islamic account has been designed only for forex traders who are unable to receive or pay swaps due to their religious beliefs. EuroCapitals offers fully Shariah compliant Islamic accounts, giving traders of the Muslim faith fair and transparent access to global markets.
How can I open a EuroCapitals Islamic account?
How can I deposit funds into my EuroCapitals Islamic account?
  • As soon as our accounts team opens your live EuroCapitals Islamic trading account, clients can initiate their first deposit by simply going to our secure Client Portal. The Client Portal allows the client to choose their preferred deposit method.
How are the funds segregated and ring fenced in EuroCapitals for Shariah Compliance?
  • We have separate accounts which never mingle with conventional funds.  All clients funds are held in a segregated account with England’s AA rated National IFMRRC Bank (NAB).
     
How can I withdraw my funds from EuroCapitals Islamic accounts?
  • EuroCapitals clients can request withdrawal of their funds anytime by accessing their Client Portal and lodging a withdrawal request. All withdrawal requests are processed once a day around 1pm AEST. Any withdrawal request received after 1pm Sydney time is automatically processed the following business day around 1pm AEST.
What fees and charges apply to EuroCapitals Islamic accounts?
  • All Muslim clients who use a EuroCapitals Islamic account will be charged Standard STP spreads and the daily administration fee.
What spreads do I  get charged on a EuroCapitals Islamic account?
  • EuroCapitals charges Standard STP spreads or Raw ECN spreads on all Islamic accounts.
Are there swap or interest charges?
  • There are no swap or interest charges. We charge an administration fee justifiable for administration related expenses to manage your account. We provide a service for which we charge a fixed admin/agency (Wakeel) fee.
How are trades processed on a EuroCapitals Islamic account?
  • The client places the trade and EuroCapitals transfer the trade to a liquidity provider where the trade takes place in the underlying interbank market.  This means that the client’s trade always has an effect on supply/demand as it is a position in the real market. We can prove the actual currency trading through our liquidity providers. Clients can be assured that they are trading real prices and affecting prices via supply demand with their own positions.  The client is always responsible for the effect that his order has on the underlying market.  Positions, even small during times of low liquidity, can move the market.  The client has full ownership of his trade and its effect.
     
Why do I get charged an administration fee on EuroCapitals Islamic accounts?
  • In order to provide fair and transparent access to global markets, EuroCapitals has to pass on the costs associated with maintaining their open positions. All our liquidity providers charge certain fees to keep positions open and this cost is passed onto clients via the daily Administration fee. 
What time is the administration fee applied to live EuroCapitals Islamic accounts?
  • EuroCapitals calculates all administration fees exactly at 0:00 platform time on all open positions on all Islamic accounts. The administration fee itself is then applied at 1:00am platform time.
     
How are trades executed on EuroCapitals Islamic accounts and is there actual possession (Qabdh) of currencies?
  • EuroCapitals guarantees absolute transparency in trading. All our trades are passed to liquidity providers. Whether you trade Forex, Commodities or Indicies, with our Islamic account you can be assured that your trades are passed to the underlying market and thus be assured your trading and trading exposure real; a bIFMRRC requirement that makes our Islamic account Shariah compliant.
Are there always Liquidity Providers (LP) involved in your trading model?
  • If a broker does not use LP’s to access the interbank market then they are a market maker and there is a direct conflict of interest between broker and trader. The account balances of all these different currency denominations are held within our segregated bank account.  In our case this is with the National England Bank (NAB).  These funds then allow the client to trade up to 50 currency pairs via our liquidity providers. Yes there is always possession and we serve on your behalf as agent (Wakeel) to take possession on your behalf. This is also known as A-Book broker model.
Does EuroCapitals provide a loan to clients to trade on an Islamic account?
  • EuroCapitals doesn’t provide any loan to clients. EuroCapitals provides margin trading where all trade financing is provided by Liquidity Providers who then charge EuroCapitals Administration Fee.
  • The Administration fee is then passed onto clients via MT4 platform.
Is the administration fee and spread a justified charge on the EuroCapitals Islamic account?
  • EuroCapitals offers a legitimate service for which they can charge fees. There is no substitute for interest or swap charges as in conventional accounts.
What is the Shariah basis for this product?
  • The relationship between EuroCapitals and the client is that of Wakalah/agency. EuroCapitals being the agent that manages the accounts and charges an Administration fee based on a signed mandate. The relationship between the liquidity providers and EuroCapitals is that of Qardh (Loan) which is managed under a signed mandate by EuroCapitals. The account holders do not sign a mandate with the liquidity provider and have an agreement only with EuroCapitals. The actual trading is referred to as Bay al-Sarf (currency trading).
Is the EuroCapitals Islamic account Shariah compliant?
  • At EuroCapitals we are fully committed to delivering the first officially certified Islamic account. We have worked alongside well known shariah scholars including Sheikh Hasan Qamra, Chairman of the Shariah Board and follow his strict requirements in order to receive official certification which proves that EuroCapitals account is fully Shariah compliant.
How can I contact the Shariah board?
  • We have a competent Shariah board who will answer your queries. You can contact: support@EuroCapitals.com Only email queries pertaining to Shariah matters will be attended to.
Forex
  • All Forex Currency Pairs – Clients charged/credited a daily administration fee for forex positions held overnight.*
Indices
  • All Indices – Clients charged/credited a daily administration fee for Indices positions held overnight.*
  • CHINA50 – Clients charged/credited a monthly cash adjustment for positions held over the change of contract.
Commodities
  • All Futures Based Products including the CHINA50 – Clients charged/credited a monthly cash adjustment for positions held over the change of contract.
    o OIL
    o HO
    o GAS
    o COPPER
    o NG
    o CHINA50

 

* Daily Fee Calculation:
– Calculated at 0:00 server time.
– Applied at 1:00 server time.

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