Brokerage companies compete to provide the most in-demand services, and in the Middle East, traders seek to ensure that their investment activities comply with Islamic Sharia principles. As we aim to serve a wide range of traders, we offer the option to open an Islamic account that does not apply interest-based charges.
Interest charges, commonly referred to as swaps, are amounts of money added to or deducted from an investor’s account when trading positions remain open overnight. With some currency pairs, a fee is deducted from the balance for holding a trade overnight, while other pairs may generate interest credited to the account when a position extends beyond one day. However, these interest charges may concern some clients because they are considered potentially incompatible with Islamic financial principles.
To provide Muslim traders with the confidence that their transactions align with their beliefs, Dirhams has activated this service by completely eliminating interest charges, whether added to or deducted from the account balance. This Islamic account is one of the many diverse account types we offer, ensuring that every investor can find a solution that suits their needs.
The launch of this type of account guarantees flexible trading conditions that accommodate the requirements of this category of traders, while also giving them peace of mind that all the investment opportunities they seek are available with us — from the trading instruments offered to the various investment objectives — all in accordance with the terms, conditions, and policies of Dirhams.
This feature is especially important for traders seeking Sharia-compliant solutions. The Islamic account provides the flexibility to execute and hold trades for several days without worrying about overnight interest deductions. At the same time, it offers a balanced trading experience under flexible conditions, without restrictions or requirements that may not suit every trader’s preferences or strategy.
On the other hand, the Islamic account also serves clients interested in long-term trading positions. Investors who prefer long-term strategies often aim to reduce trading costs associated with such approaches. Among the most common trading costs are spreads and swaps, making this type of account particularly suitable depending on the trader’s goals and preferences.
You can start with us today and open an Islamic account with flexible trading conditions and terms. Simply request this feature through customer service and learn more details from our support staff, who are available around the clock to answer all inquiries. Please note that certain usage conditions may apply to ensure fair trading practices on some investment products and to maintain the integrity of trading activities.
