Updated: October 8, 2024

Exness Islamic Account

The Exness Islamic Account is a special type of account designed for Muslim traders. It follows Islamic finance rules, meaning it doesn’t have any swap fees or interest, which are not allowed in Islam. This account is for people who want to trade in a way that fits with their religious beliefs. It works like other trading accounts but respects Islamic law by avoiding certain financial practices.

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Table of Contents

Understanding Exness Swap-Free Account

The Exness Swap-Free Account is designed for traders who need to comply with Islamic finance rules. It removes swap fees, making trading more accessible and in line with Sharia principles. This account offers a straightforward trading experience, without compromising on features or efficiency.

Sharia Compliant. No interest or swap fees, ideal for Islamic traders;
Accessible Trading. Open to everyone, offering a fair trading environment;
Seamless Integration. Works well with all trading strategies, without extra hassle;
User-Friendly. Simple setup process, making it easy for beginners and pros alike;
Cost Efficiency. Reduces trading costs by eliminating swap fees;
Wide Market Access. Trade a variety of instruments, including forex, commodities, and indices.

6 Asset Classes – 16 Trading Platforms – Over 1000 Instruments.
Trade Forex, Individual Stocks, Commodities, Precious Metals, Energies and Equity Indices at Exness.

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How to Open an Exness Islamic Account?

Opening an Exness Islamic Account is straightforward and designed to align with Islamic finance principles. First, click on the ‘Open an Account’ option. You’ll need to provide some personal details to set up your account. Choose the ‘Islamic Account’ to ensure your trading activities comply with Sharia law. Then, submit the necessary documents for identity and address verification.

Once your account is verified and approved, which typically happens quickly, you can deposit funds and start trading. This account type eliminates swap fees, making it ideal for those who want to trade without going against Islamic finance rules. With this process, Exness makes it easy for anyone to trade in a way that respects their beliefs and practices.

Key Features of Exness Islamic Account

The Exness Islamic Account brings you a trading experience that not only aligns with Islamic finance principles but also offers a wide array of benefits.

No interest on overnight trades, fitting Islamic finance rules;
Trade more, pay less with no commission fees;
Get started trading with quick account setup;
Trade in various markets (forex, metals, and digital currencies);
Pick how much leverage you use, with very flexible options;
Help day or night;
Your trades and money are safe with top-notch security;
Trading made simple for everyone, no matter your experience;
Stay updated with the latest on your trades.

Underlying Principles for Islamic Account Compliance

Islamic account compliance is based on key principles that align with Islamic finance laws. These accounts must avoid interest (Riba), uncertain transactions (Gharar), and investing in prohibited sectors like alcohol or gambling.

Interest-Free Transactions. Deals and profits should not involve interest;
Asset-Backed Investments. Investments must be backed by real, tangible assets;
Ethical Guidelines. Money is invested in halal (permissible) industries;
Risk Sharing. Both profit and risk are shared between parties, promoting fairness;
No Uncertainty. All terms must be clear and certain, avoiding speculative deals.

Underlying Principles for Islamic Account Compliance

How much is the Exness Spread on an Islamic Account?

The Exness spread on an Islamic account varies depending on the market and the specific financial instrument being traded. Unlike regular accounts, Islamic accounts at Exness are designed to comply with Sharia law, meaning they don’t incur swap fees or interest for holding positions overnight.

Spreads start competitively low, allowing traders to engage in Forex, commodities, and other markets while adhering to Islamic finance principles. The exact spread can be asset-specific and is subject to change based on market conditions.

Account Types Offered with Islamic Option

Exness provides several account types with an Islamic option available. This swap-free offering adheres to Islamic finance principles, allowing Muslim traders to participate in the markets without violating their religious beliefs. The Islamic accounts are available across the Standard, Professional, ECN, and Zero Spread account types, each with its own features tailored to different trading styles and preferences.

Account type	Features	Islamic Option
Standard	Beginner-friendly, no commission	Swap-free
Professional	Tight spreads, higher leverage	Swap-free available
ECN	Direct market access, for scalpers	Swap-free, commission
Zero Spread	No spread on major pairs, for scalpers	Swap-free
Demo	Virtual money, risk-free	N/A

Over 2 million people worldwide have chosen a global leader in online financial trading & investment.

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Considerations When Choosing Exness Islamic Account

Learn how you’ll be charged, as these accounts operate without swap fees, affecting your profit;
Check if you can engage in trading your preferred assets like forex or gold, adhering to Islamic guidelines;
Ensure the trading platform is compatible with your device and matches how you like to trade;
Verify that support is available for any questions, particularly those related to Sharia compliance;
Explore the various account options provided by Exness to find one that aligns with your trading experience and objectives, ensuring it complies with Islamic finance;
Look for educational materials if you’re new to trading, to help develop your skills;
Make sure you can trade in the global markets you’re targeting.

FAQs

What is an Exness Islamic Account?

An Exness Islamic Account is a trading account that complies with Islamic Sharia law, offering a swap-free trading environment. This means it doesn’t involve interest/riba, making it suitable for Muslim traders.

How do I open an Exness Islamic Account?

To open an Islamic account, sign up on the Exness website, choose your desired account type, and then request the Islamic account option. The process may require verification to ensure compliance with Islamic principles.

Are there any additional fees for using an Exness Islamic Account?

While Islamic accounts are free from swap fees, they might have other costs like spreads or commissions, depending on the account type and trading conditions.

Can I trade all instruments with an Exness Islamic Account?

Yes, you can trade a wide range of instruments, including forex, commodities, and indices, as long as they comply with Islamic finance principles.

How does Exness ensure its Islamic Accounts are Sharia-compliant?

Exness consults with religious experts to ensure their Islamic accounts meet Sharia law requirements, avoiding prohibited practices like riba (interest) and gharar (uncertainty).

Can non-Muslims open an Exness Islamic Account?

Yes, non-Muslims can also open an Islamic account if they prefer trading without swaps due to personal trading strategies or beliefs.

Is leverage available in Exness Islamic Accounts?

Yes, leverage is available in Islamic accounts, just like in conventional accounts, allowing traders to increase their trading position.

How do I convert my existing Exness account to an Islamic Account?

You can request the conversion through customer support. They will guide you through the process, which may involve verifying your account’s eligibility for conversion.