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Islamic Trading Account

Islamic Trading Account
at Axon Markets

Open Islamic Trading Account Islamic Account AxonMarkets

Article created: 12.06.2024

What is an Islamic trading account with AxonMarkets?

Trading accounts offered at AxonMarkets for Islamic traders are designed for Shariah compliant traders. Specialized account types are designed to maximize compliance with Islamic financial laws and Shariah regulations. AxonMarkets account structure excludes any elements prohibited in Islam, such as riba (interest/ usury) and gharar (excessive uncertainty).

Islamic trading accounts in Islamic finance

Key Principles of Islamic Finance

In the laws of Islamic finance there are basic requirements for trade and financial transactions, for example trade must exclude interest and usury (as this is considered riba). It is forbidden to trade on such assets that have high uncertainty (gharar) and high risks. Even if the above-mentioned points are appropriate for trading, it is important that full information about trading activities is available and profits and losses are equally shared between the broker and the trader.
It is important to realize that trading even in an Islamic account must be in accordance with Ethical and Halal (permitted) activities. Research the trade before using it.

Differences between AxonMarkets traditional and Islamic accounts

Unlike traditional AxonMarkets accounts, Islamic accounts do not accrue swaps or interest on open positions. In addition, AxonMarkets Islamic accounts prohibit certain types of speculative trading that are considered unacceptable according to Islamic financial principles.

Axon Markets Islamic Trade

Islamic Account at AxonMarkets Broker

Principles of the Islamic Account at AxonMarkets

The Islamic trading account from AxonMarkets adheres to the following principles:

Absence of riba (interest) - positions are not subject to overnight financing charges.
Absence of gharar (uncertainty) - clear trading conditions with no hidden fees.
Absence of haram (prohibited transactions) - ban on trading certain instruments.
Profit and loss sharing based on actual trading results.
Ethical investments and transaction transparency.

Benefits for Muslims in the Islamic Account

In addition to the absence of swaps and interest, the Islamic account at AxonMarkets offers several advantages for observant Muslims:

Support in Arabic and other Islamic world languages
Removal of riba (interest) in deposits and withdrawals
Full Sharia compliance in all trading aspects
Direct access to a wide range of permitted markets

Muslim Trading Account

How to Open an Islamic Account at AxonMarkets

To open an Islamic trading account at AxonMarkets, follow these simple steps:

Indicate during registration that you want to open an Islamic account.

Complete the standard verification process by providing the necessary documents.

Make an initial deposit using any of the available payment methods.

Upon approval, access to the Islamic account will be activated.

Muslim Scholars' Views on the Islamic Account

Fatwas and Recommendations of Islamic Scholars

Many prominent Islamic scholars and religious authorities, such as the Shariah Supervisory Council, have expressed support for Islamic trading accounts in online trading, stating that these accounts are in line with Shariah principles provided certain guidelines are followed.

Other Islamic scholars believe that Islamic trading accounts are haram because they believe that brokerage transactions may have the characteristics of gharar and riba.

Before using an Islamic trading account, it is recommended that you consult with your religious leader who can assess the proper understanding of Islamic finance in trading.

Overview of Religious Opinions and Rulings

In general, most Islamic scholars agree with the concept of Islamic online trading through specialized accounts, as long as they follow the key principles of Sharia, avoiding riba, gharar, maisir (gambling), and other prohibited elements.

Importance of Sharia Compliance in Trading

For Muslim traders, it is of utmost importance to conduct their trading activities in strict accordance with Sharia principles. Islamic accounts allow them to engage in investment activities without violating Islamic financial laws.

Conclusion on the Islamic Account at AxonMarkets

Summary and Benefits of Trading with the Islamic Account at AxonMarkets

Trading with the Islamic account at AxonMarkets offers the following key benefits:

Full compliance with Sharia rules
Absence of swaps and interest on open positions
Wide access to currency, commodity, and stock markets
High transparency of conditions and no hidden fees
Support for Islamic ethics in financial activities

Why Choose AxonMarkets for Islamic Trading

AxonMarkets aims to become a leading global broker offering high-quality Islamic accounts in line with best practices. Our Islamic account is characterized by full compliance with Sharia rules, while providing access to a wide range of markets and instruments through a reliable, modern platform. If you are a Muslim, AxonMarkets is an excellent choice for Islamic trading.

Islamic Trading account Axonmarket on pc

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Frequently Asked Questions about the Islamic Account (FAQ)

Can Muslim traders trade CFDs on the Islamic account at AxonMarkets?

Yes, CFDs on stocks, indices, commodities, and currencies are permitted for trading on the Islamic account, provided that they comply with Sharia principles. However, CFDs on certain prohibited assets will be unavailable.

Are there any special considerations regarding the use of indicators or Expert Advisors for Islamic accounts?

The use of trading indicators and Expert Advisors on the Islamic account is allowed, provided that they do not introduce elements

of usury or speculation. We recommend that clients carefully review their settings.

Can AxonMarkets offer Sharia audit services for the Islamic account?

At present, we do not have a specialized Sharia audit or supervisory service. However, our Islamic account has been

designed and structured in accordance with Islamic finance principles.

Islamic Trading Account at Axon Markets