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.
