Islamic Trading Accounts
no interest fee
No interest fees will be credited or debited on EmpowerMarket trading accounts for traders of Islamic faith.
Islamic Accounts are designed for clients who cannot pay or receive swaps or rollover interest on overnight positions due to religious reasons. In order to open an Islamic Account, a client must first open a Metatrader (MT5) Platform account and then request for it to be converted into an Islamic Account.
|Currency Pairs||Admin fee in USD per lot, per night|
|AUS200, CHINA50, FRA40, GER30, HK50, JP225, NAS100, STOXX50, UK100*, LTCUSD, RPLUSD||$1|
|AUDUSD, EURUSD, GBPUSD, USDCAD, USDCHF, USDJPY, NZDUSD *||$5*|
|AUDNZD, EURCZK, US500, USDCZK||$2|
|US30, SING30, EURSEK, USDSGD||$3|
|AUDSGD, CADJPY, EURCHF, EURJPY, GBPCAD, ITA40, NZDSGD||$4|
|AUDCAD, CADCHF, CHFJPY, EURGBP, EURHUF, NZDCAD, USDHUF, XAGAUD||$5|
|GBPJPY, GBPSEK, XAGUSD, XAUAUD, BTCUSD||$6|
|AUDJPY, EURCAD, GBPCHF, NZDJPY, XAUUSD, XTIUSD||$7|
|AUDCHF, EURSGD, GBPAUD, GBPPLN, NZDCHF, USDCNH, USDPLN, USDSEK||$8|
|EURAUD, EURNZD, GBPNZD||$10|
*Islamic Accounts will not be charged the admin fee for the first five nights of trading. If positions are held longer, the admin fee will be applicable from the sixth night.
Islamic account status will not apply on the following pairs USDTRY, EURTRY and swaps will be charged/credited as a normal account. If you do not wish to receive any swap credit/charges on these symbols you should ensure that all open positions are closed before end of day 00:00 platform time.
We reserve the right to update the administration charges from time to time, any amendments to the charges will be notified to clients via the FP Markets website. Islamic Accounts will not debit or credit swap charge or swap credits when holding positions overnight.
Apart from these differences, Swap Free Accounts will have the same trading conditions and terms as a regular Metatrader Platform Account.