The VT MARKETS Islamic account has been custom designed for forex traders who are unable to receive or pay swaps due to their religious beliefs. Fully compliant with Sharia law, this forex trading account enables forex traders of the Muslim faith to take advantage of VT MARKETS’s institutional grade liquidity, streamed from the world’s largest institutions, direct to your MT4 Forex trading account.
After being fully certified by Sheikh Hasan Qamra – Chairman of the Sharia Supervisory Board, VT MARKETS are proud to be the ONLY Forex broker who are officially Sharia compliant. Please refer to our official Sharia compliance certification below.
What is a Forex Islamic Account?
A Forex Islamic Account is sometimes also called a swap free account. This is because a forex trader using an Islamic account will incur no swaps or interest charges on positions that they hold overnight like a regular forex trading account holder would. You would instead be charged administration fees on your positions.
Are you a forex trader who follows the Islamic faith? If so, then the Sharia compliant VT MARKETS Islamic Account is for you. When a trade on your VT MARKETS Islamic Account has been opened for the required period of time, an administration charge will instead be deducted from the balance of the account.
For full terms around these administration charges, please see our terms and conditions page.
Islamic Gold and Silver Trading
VT MARKETS are happy to announce an exclusive partnership with Australian Gold and Silver Exchange (AGSX). This partnership is crucial in forming our Islamic gold and silver trading offering. True Islamic Gold and Silver trading must have a physical gold and silver backing and this AGSX partnership has made this possible.
Islamic Oil Trading
Experience Oil trading under Islamic rules with VT MARKETS today. The price of oil on the VT MARKETS MT4 platform is tied to the price of Oil futures traded on futures exchanges around the world. Trade Oil without accruing any positive or negative swaps with VT MARKETS. Tap into volatile Oil trading markets with VT MARKETS today.
Islamic Indices Trading
Instantly access the world’s most liquid stock exchange indices on your VT MARKETS Islamic Forex trading account. Trade indices directly linked to global stock markets without accruing any swaps. Instead pay or receive administration fees on your VT MARKETS Islamic forex trading account.
Islamic Forex Trading
VT MARKETS have introduced their Islamic forex account option, which fully complies with the religious needs of members of the Muslim faith. All clients who open a VT MARKETS Islamic Account will not be charged daily swaps. Swap charges are fully replaced in the MT4 platform by daily administration fees on all Forex trading products.
Come and experience transparent Forex trading with VT MARKETS on a wide range of forex currency pairs, commodities and indices. Clients will be able to access their Islamic forex trading account via the powerful MT4 platform, as well as having the ability to trade anywhere anytime on the MetaQuotes mobile application.
Islamic Forex Account FAQs
Who can use a VT MARKETS Islamic account?
The VT MARKETS Islamic account has been designed only for forex traders who are unable to receive or pay swaps due to their religious beliefs. VT MARKETS offers fully Shariah compliant Islamic accounts, giving traders of the Muslim faith fair and transparent access to global markets.
How can I deposit funds into my VT MARKETS Islamic account?
As soon as our accounts team opens your live VT MARKETS Islamic trading account, clients can initiate their first deposit by simply going to our secure Client Portal. The Client Portal allows the client to choose their preferred deposit method.
How are the funds segregated and ring fenced in VT MARKETS for Shariah Compliance?
We have separate accounts which never mingle with conventional funds. All clients funds are held in a segregated account with Australia’s AA rated National Australian Bank (NAB).
How can I withdraw my funds from VT MARKETS Islamic accounts?
VT MARKETS clients can request withdrawal of their funds anytime by accessing their Client Portal and lodging a withdrawal request. All withdrawal requests are processed once a day around 1pm AEST. Any withdrawal request received after 1pm Sydney time is automatically processed the following business day around 1pm AEST.
What fees and charges apply to VT MARKETS Islamic accounts?
All Muslim clients who use a VT MARKETS Islamic account will be charged Standard STP spreads and the daily administration fee.
What spreads do I get charged on a VT MARKETS Islamic account?
VT MARKETS charges Standard STP spread on all Islamic accounts.
Are there swap or interest charges?
There are no swap or interest charges. We charge an administration fee justifiable for administration related expenses to manage your account. We provide a service for which we charge a fixed admin/agency (Wakeel) fee.
How are trades processed on a VT MARKETS Islamic account?
The client places the trade and VT MARKETS transfer the trade to a liquidity provider where the trade takes place in the underlying interbank market. This means that the client’s trade always has an effect on supply/demand as it is a position in the real market. We can prove the actual currency trading through our liquidity providers. Clients can be assured that they are trading real prices and affecting prices via supply demand with their own positions. The client is always responsible for the effect that his order has on the underlying market. Positions, even small during times of low liquidity, can move the market. The client has full ownership of his trade and its effect.
Why do I get charged an administration fee on VT MARKETS Islamic accounts?
In order to provide fair and transparent access to global markets, VT MARKETS has to pass on the costs associated with maintaining their open positions. All our liquidity providers charge certain fees to keep positions open and this cost is passed onto clients via the daily Administration fee.
What time is the administration fee applied to live VT MARKETS Islamic accounts?
VT MARKETS calculates all administration fees exactly at 0:00 platform time on all open positions on all Islamic accounts. The administration fee itself is then applied at 1:00am platform time.
How are trades executed on VT MARKETS Islamic accounts and is there actual possession (Qabdh) of currencies?
VT MARKETS guarantees absolute transparency in trading. When a client opens a trade on an Islamic account, VT MARKETS passes the trade to our liquidity providers (banks). Following this, VT MARKETS opens a trade at the best available price, in the market. Whether you trade Forex, Commodities or Indices on our Islamic account, you can be assured that trades are passed to the underlying market and your trading exposure is real. This is a basic requirement that makes our Islamic account Sharia compliant.
Are there always Liquidity Providers (LP) involved in your trading model?
All clients’ funds are held in a segregated account with National Australia Bank (NAB). There is possession of physical currency when trades are passed to LPs. In an Islamic trading sense, this means VT MARKETS serve on the trader’s behalf as an agent (Wakeel).
The premise of our business model at VT MARKETS is primarily based on Straight Through Processing (STP). This is where trades are passed to our liquidity providers. Please refer to the diagram below:
Does VT MARKETS provide a loan to clients to trade on an Islamic account?
VT MARKETS doesn’t provide any loan to clients. VT MARKETS provides margin trading where all trade financing is provided by Liquidity Providers who then charge VT MARKETS Administration Fee.
The Administration fee is then passed onto clients via MT4 platform.
Is the administration fee and spread a justified charge on the VT MARKETS Islamic account?
VT MARKETS offers a legitimate service for which they can charge fees. There is no substitute for interest or swap charges as in conventional accounts.
What is the Shariah basis for this product?
The relationship between VT MARKETS and the client is that of Wakalah/agency. VT MARKETS being the agent that manages the accounts and charges an Administration fee based on a signed mandate. The relationship between the liquidity providers and VT MARKETS is that of Qardh (Loan) which is managed under a signed mandate by VT MARKETS. The account holders do not sign a mandate with the liquidity provider and have an agreement only with VT MARKETS. The actual trading is referred to as Bay al-Sarf (currency trading).
Is the VT MARKETS Islamic account Shariah compliant?
At VT MARKETS we are fully committed to delivering the first officially certified Islamic account. We have worked alongside well known shariah scholars including Sheikh Hasan Qamra, Chairman of the Shariah Board and follow his strict requirements in order to receive official certification which proves that VT MARKETS account is fully Shariah compliant.
How can I contact the Shariah board?
We have a competent Shariah board who will answer your queries. You can contact: [email protected] Only email queries pertaining to Shariah matters will be attended to.
All Forex Currency Pairs – Clients charged/credited a daily administration fee for forex positions held overnight.*
All Indices – Clients charged/credited a daily administration fee for Indices positions held overnight.*
CHINA50 – Clients charged/credited a monthly cash adjustment for positions held over the change of contract.
All Futures Based Products-Clients charged/credited a monthly cash adjustment for positions held over the change of contract. o OIL o HO o GAS o COPPER o NG
Gold and Silver – Clients charged/credited a daily administration fee for forex positions held overnight.*
* Daily Fee Calculation:
– Calculated at 0:00 server time.
– Applied at 1:00 server time.
Risk Warning: Trading Forex and CFDs carries the risk of losing substantially more than your initial investment and should only be traded with money you can afford to lose. You don't own or have any rights to the assets that underly the derivatives (e.g. the right to receive dividend payments). Ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
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To the extent permitted by the local laws or regulations, Vantage International Group Limited, who is authorised and regulated by the Cayman Islands Monetary Authority (CIMA), Securities Investment Business Law (SIBL) number 1383491 and is located at 4th Floor The Harbour Centre, 42 N Church St, George Town, Cayman Islands, is the issuer of the products described or available on this website.
Where the applicants for the services and products described on this website are Australian residents, VT Markets Pty Ltd, a corporate authorised representative of Vantage Global Prime Pty Ltd is the distributor and Vantage Global Prime Pty Ltd who is authorised and regulated by the Australian Securities & Investments Commission (ASIC) AFSL no. 428901 is the issuer. Please consider the PDS before you begin to or continue to trade. Vantage Global Prime Pty Ltd does not accept applications from non-Australian residents.