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[Razor1911]

That is true. The brokers usually don't charge the overnight interest rates from the fellow traders who are from Islamic background. The reason behind is that, according to Islamic belief, taking interest of money is haram and not accepted.

That is why almost all the brokers has the option to tick or untick swap and swap free accounts while registration. It is particularly for the islamic countries.

 

[Niftyicon]

It is good that allowances have been made for those whose faith does not support taking interests. This way they feel comfortable carrying out their business.

 

[a_jerobon]

That is great for them. Their cultural and religious beliefs have been considered and that is awesome for them. It will give them more peace while trading.

 

[Lobardi]

Yes that is true because a lot of people have the faith first while choosing any market and since everyone is equal in this world so you should respect everyone while offering business products , the more choices you offer , the more customers you can have for your business and that is success to be honest in my opinion .

 

[Xrin Nightfall]

I have researched it before. Though it seems like without a swap-free account which means interest-free account has no problem with the Islamic rules. So a Muslim who wants to follow his religion can trade in Forex.

But, this is not only that. Forex is haram in Islam not only for Interest. But, also for "speculation". You actually are not holding any asset, instead, you just speculating price changes and bet on that. It is similar like gamble and that's why it is haram in Islam.

 

[Horia_10]

Indeed exactly forex is all about speculation which is not permitted in the religion and that is why the users are not permitted to trade or deal in forex markets , they can never be dealing in interest free and speculation free accounts which is why they should avoid forex trading completely.