Islamic Account

CMG FX OFFERS ISLAMIC ACCOUNTS FOR CLIENTS LOOKING TO TRADE WITHOUT HAVING INTEREST FEES CREDITED OR DEBITED. THE SWAP-FREE OPTION IS AVAILABLE ON OUR MT4 & MT5 PLATFORMS THROUGH OUR ISLAMIC STANDARD AND ISLAMIC RAW ACCOUNTS.
WHAT IS AN ISLAMIC TRADING ACCOUNT?

How to trade in-line with the Muslim Faith?

Commonly known as swap-free accounts, our Islamic account options are designed for muslim clients as they incur no swaps or interest charges on overnight positions. The account holder is instead charged an administration fee on positions which is deducted from the balance of the account. The Islamic account offers the same tight spreads & fast execution experienced on our regular MT4 & MT5 accounts, while being swap-free. Access to all of our trading account benefits such as fast execution, deep liquidy and cutting-edge trader tools are all still available. In order to open an Islamic Forex Account, a client must first open a MetaTrader 4 or MetaTrader 5 (MT4/MT5) Platform account and then request for it to be converted into an Islamic Account.

Islamic account types

MetaTrader 4 Islamic Account

Trade on the world’s most popular Forex trading platform.

MetaTrader 5 Islamic Account

Try the next-generation Metatrader platform

Demo Islamic Account

Practice your trading today
TRADE GLOBAL MARKET CFDS

What can you trade on an Islamic Account?

FOREX

SHARES

INDICES

COMMODITIES

CRYPTOCURRENCIES

Islamic

standard account

MINIMUM OPENING BALANCE

$100 AUD

or equivalent

SPREADS

from 1.0 pip

MAXIMUM LEVERAGE

500:1

EXECUTION

ECN-Pricing

COMMISSION PER LOT

$0*
(no fee)

MINIMUM TRADE SIZE

0.01 Lot

EA’S

Yes

MOBILE APP

Yes

VPS AVAILABLE

Yes

*Commissions apply for trading Shares CFDs, click here for more information.
ACCOUNT OPTIONS

What Islamic Account types are available?

The swap-free account option is available on both our Raw and Standard account types on the MT4 and MT5 trading platforms.

An Islamic client can trade all the instruments available on the platforms.

Minimum commission applies for Share CFDs across all types of accounts.

Islamic

raw account

MINIMUM OPENING BALANCE

$100 AUD

or equivalent

SPREADS

from 0.0 pip

MAXIMUM LEVERAGE

500:1

EXECUTION

ECN-Pricing

COMMISSION PER LOT

COMMISSION US $2.5* per 100,000

MINIMUM TRADE SIZE

0.01 Lot

EA’S

Yes

MOBILE APP

Yes

VPS AVAILABLE

Yes

*Commissions for trading Share CFDs are variable, click here for more information.
START TRADING TODAY

What is the process to open an Islamic Account?

1

Open a MetaTrader 4 or MetaTrader 5 account.

2

Please send your request to make it an Islamic Trading account via email from your registered email address to support@CMG FXmarkets.com.

3

Please include an official document showing confirmation of your faith (e.g a Proof of Faith document from your local mosque) if evidence is not already included visible in the ID document we have on record for you.
If you have any questions, please contact our customer support team here.
CURRENCY PAIRS

Islamic Account admin fees

Please refer to our Account Terms in the Product Disclosure statement for the specific terms and conditions that relate to Islamic Accounts. * Islamic Accounts will not be charged the admin fee for the first ten nights of trading. If positions are held longer, the admin fee will be applicable from the eleventh night. Please note that Islamic account status will not apply on the pairs not listed above including certain exotic pairs and our Share CFDs 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. CMG FX reserves the right to update the administration charges from time to time, any amendments to the charges will be notified to clients via the CMG FX 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 4 or MetaTrader 5 Platform Account. An Islamic client can trade all the instruments available on the platform. Islamic account status will not apply on the following currency pairs USDTRY, EURTRY and Stocks. We can also add that this is subject to change without notice. When there are triple swap charges – on Wednesday and Friday night – the admin fee is not charged triple, we carry the risk/cost basically. WTI is a future product which doesnt have a swap charge/credit. But the monthly Rollover is applied in the swap column so if clients do not want even the appearance of a swap charge then they should ensure positions are closed before the roll date.