Islamic Account FAQs
Clients from Islamic countries will automatically enjoy the benefit of swap-free, and it is applied to all the account types as well as MT4 and MT5.
We provide Islamic accounts for clients from Islamic countries. Once clients from Islamic countries create a trading account, the system will convert the trading account to an Islamic account automatically based on the client’s citizenship, which is a swap-free account.
-Swap-free permanently: USD Currencies pairs, e.g. AUDUSD/EURUSD/GBPUSD/NZDUSD/USDCAD/USDCHF/USDJPY/XAUUSD/XAGUSD
-Swap-free for the first 3 calendar days: Other Non-USD Currencies pairs trading instruments. Note: For orders held more than 3 calendar days, 5 USD/Lot of processing fees will be charged at 01:00-02:00 trading platform time per day (including Weekend) each day
-The other products such as indices, and crude oils do not enjoy the swap-free, and it will be calculated.
Our margin call for Islamic accounts is 150% and Stop out will be 50%.
Islamic accounts can participate in our ongoing promotions with no specific restrictions.
Clients are allowed to reject Islamic accounts via an email request.
Write an email to [email protected], attach the name, CID number, and trading account number that you would like to return back to a normal account. Email title: “request for converting an Islamic account to a normal trading account.”
The process will be done within 1-3 working days.
*Kindly ensure the application is made with no open positions in the account.
*If there is no specified account mentioned in the email, CWG Markets will convert all Islamic accounts to normal trading accounts by default.
Yes. Kindly request an Islamic account application form from the CWG. Afterwards, write an email to [email protected], attach your name, CID number, trading account, proof of religious document(s), and the Islamic Account application form. The process will be done within 1-3 working days.
*Please ensure that no orders are held in the account at the time of application.
*If there is no specified account mentioned in the email, CWG Markets will convert all trading accounts to Islamic accounts by default.
CWG does not have an Islamic demo account. Kindly register a real account if you want to join the Islamic Account.