For many Muslim traders, engaging in financial markets represents a significant challenge: how to trade while adhering to Islamic principles.
The main issue is "riba" (interest), which is completely prohibited. In traditional forex trading, brokers impose or pay overnight interest fees called "swap" to keep positions open after the market closes. This process is not halal.
At SouqCapital, we are proud to offer a solution: Islamic trading account.
What makes a trading account "Islamic"?
The Islamic account, or "swap-free", is a specialized trading account that fully complies with Islamic law. It removes all forms of usury from the trading process.
Here are its distinctive features:
1. No swaps (zero interest) This is the most important feature. In the Islamic account, you never are charged or pay any overnight interest fees (swaps), regardless of how long you hold the position. Whether you hold the trade for one night or one month, you will not incur any interest.
2. No "Gharar" (excessive uncertainty/gambling)Islamic law prohibits transactions that resemble gambling. Our platform ensures that trades are executed instantly and transparently. You trade based on concrete analysis of market movements, not a game of chance. Your funds are segregated, and the terms are completely clear.
3. Immediate SettlementAll transactions and costs are settled immediately, ensuring that all trade elements are completed without any prohibited "deferred" fees. The "spread" (the difference between the buying and selling price) is clearly visible and is collected at the moment the trade is executed.
How does Souq Capital provide this?
You may wonder, "How does the broker make a profit if there are no swap fees?"
Instead of imposing swap fees, we apply a clear and fixed administrative fee on some pairsonly if an open position is held for a specified number of days.These fees are a fixed and known cost for the services provided - not an interest payment - which is permissible. For many trades, these fees do not even apply.
This structure provides complete transparency and ensures that your trading activities remain 100% halal.
Who is the Islamic account for?
This account is primarily intended for traders who wish to comply with Islamic law. It provides access to global markets - including forex and commodities like gold and stock indices - without compromising faith.
It is also used by traders who simply prefer a "swap-free" environment and wish to avoid the complexity of overnight interest calculations.
Trade with a clear conscienceYour faith and financial goals should not be in conflict. The SouqCapital Islamic account ensures that you can participate in global markets with complete peace of mind.