de | cn | ru

Brokers News

JustForex Launches Islamic Accounts with Zero Commissions

JustForex, the Belize-registered Forex broker, today announced the introduction of Islamic accounts for its clients, but on top of the lack of swaps for such accounts, the broker will not charge any commissions either.

 
As you know, there are plenty of Forex brokers that offer Islamic, or swap-free accounts, due to the Shariah laws that prohibit Muslims from earning interest. However, to compensate for the absence of swap fees, brokers usually charge some other form of commissions which can be quite high. This is definitely not the case with JustForex, which offers Islamic accounts that are commission-free.
 
From today, all owners of Classic and NDD accounts can apply for Islamic accounts. (Unfortunately, there is no such option for ECN accounts.) This means that those of you who'd like to open an Islamic account with JustForex can deposit as little as $2 to start trading on a Classic account and as little as $10 to start trading on an NDD account. The minimum trade contract size is micro lot (0.01 of the standard lot) for both types of accounts, which greatly reduces risk exposure and is particularly suitable for novice traders.
 
You are probably curious about spreads too: for Classic accounts, they are fixed and start from 2 pips, while on NDD accounts they are floating from 0.7 pips. Given the solid leverage of up to 1:500 for Classic accounts, and at up to 1:100 for NDD ones, we can say that the broker sufficient trading power to its clients.
 
 There's no surprise that JustForex has moved to offer Islamic accounts, as these have grown increasingly popular in the FX world and brokers have been seeking to make their particular offerings more competitive. An interesting offer comes from FXTM, the Cyprus-based Forex and CFD broker, whose Amanah account is completely interest free and instead proposes  "Musharakah", a kind of partnership, where profits and losses are shared on the basis of preset ratios.
 
 
 

About JustForex

 
JustForex is a brand of IPCTrade Inc, a company that provides online trading services in the Forex market. IPCTrade Inc. is authorized and regulated by the Belize International Financial Services Commission (license no. IFSC/60/241/TS/13). JustForex has a mixed business model: the company may either be a dealer or a broker for clients, depending on the account they use. For Classic accounts, JustForex is a dealer, while for traders opting for NDD and ECN accounts, the company is a broker and transfers orders to the liquidity providers.
TAGS: justforex  justforex broker  justforex forex broker  islamic accounts  forex accounts  swap-free accounts  forex trading  no commissions  belize broker 

More news about JustForex

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Brokers News

FXTM Launches 30% Welcome Bonus

Aug 06 2019 13:38:53

  As part of FXTM’s mission to provide clients with an exceptional trading experience, the international broker has launched its latest offering – the 30% Welcome Bonus!   This promotion, available under Exinity Limited, boosts your account by an extra 30% when you deposit $100... Read more

XM parent actively prepares for the launch of its US brand Trading.com

Jul 03 2019 14:19:28

  Trading Point Group, the owner and operator of the XM brand, actively prepares for the future launch of its US brand Trading.com. Read more

FBS Invites 20 Best Partners To a VIP Party

Jul 02 2019 15:04:24

Partner parties is a great way to get to know company’s local promoters and celebrate loyalty, motivation, and cooperation. In 2019, FBS broker launches the FBS Stars contest with a round trip flight to Russia’s second largest city and a VIP party invitation as a prize. Read more

Vantage Prime will no longer service non-Australian clients

May 20 2019 13:36:39

  Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Dukascopy warns it has no cooperation with shady broker GCG Asia

May 16 2019 13:29:47

  Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

$75 mln forex Ponzi scam revealed in the US

May 03 2019 16:46:08

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost $86 mln to investment scams in 2018

May 02 2019 17:04:18

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD  in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

FXTM now offers a deposit bonus of up to $5 000

Apr 25 2019 11:10:24

  Global award-winning brokerage FXTM has launched their biggest deposit bonus promotion ever. The broker is now offering an extra 30% back from every amount their traders deposit over a period of 30 days, up to a total of $5,000. Read more

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

de | cn | ru