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AvaTrade Islamic Account Review For Halal Trading

AvaTrade MetaTrader(3)

AvaTrade Islamic accounts are special status for traders to wish to follow Sharia law. Recognized as one of the legal brokers in the UAE, the AvaTrade platform offers a highly regulated Forex trading environment in UAE. View a full list of countries with regulations and available jurisdictions. As a Muslim trader, you can follow the foundational principles of your morals, ethics, and faith. Before trading on any Islamic account, contact the platform directory to confirm they meet your unique beliefs and standards. In this post, we’ll review how AvaTrade Islamic accounts work for halal trading.

How Islamic Trading Accounts Work

Islamic trading accounts are designed to comply with Sharia Law. The laws prohibit earning interest on giving, including interest on backing or investing activities. Under these special No Riba accounts, traders can trade CFDs, forex and assets interest-free. An AvaTrade Islamic trading account does not charge Riba, or interest. However, if you sell short or short stocks, this may be considered haram due to Gharar, or selling an asset that is not present. As an Islamic trader, you may avoid:

  • Overnight AvaTrade swap Charges/Fees
  • Margin Interest
  • Loans With Interest
  • Margin Trading With Leverage
  • Short Selling Assets
  • Forward Sales Contracts

As an individual investor, you must take precautions to follow account regulations, Musharakah arrangements, and Riba requirements while following the Quran teachings.

Does AvaTrade Offer Islamic Accounts?

AvaTrade does offer Islamic accounts for Halal Trading. Muslim clients can trade in accordance with Islamic Sharia law. To setup an account, you simply have to contact your representative or customer service. Keep in mind, to receive an Islamic account, your account must be fully verified. These Islamic trading accounts are Swap-Free, allowing you to hold a trading position up to 5 days without incurring in any additional fees. To start trading with a halal account, read our AvaTrade or Exness account comparison.

AvaTrade Sharia Compliant Account

Start your halal trading on AvaTrade sharia compliant accounts. With AvaTrade, you can open your Islamic account like any other trading account. Your trading on AvaTrade can follow Sharia Laws. Muslim traders keep their trading free from activities like earning or paying interest (riba) and engaging in any uncertain activities (gharar). However, you will have restrictions on available assets, geographic locations, and forex pairs. Additionally, Muslim traders may not receive special AvaTrade bonuses and offers on Islamic trading accounts to strictly follow the Sharia finance laws. In addition, avoid trading on Islamic-prohibited goods like alcohol, gambling, pork, and weapons. When getting started, follow a straightforward process to setup a Sharia compliant account.

How To Open An Islamic Trading Account With AvaTrade

Open an Islamic account with AvaTrade for halal trading. To apply for Islamic trading account, sign up for a regular AvaTrade account. Once your account is verified, contact your AvaTrade account manager to upgrade it to an Islamic account. If you don’t have a dedicated manager, reach out to customer support who offers guidance and support new Islamic accounts.

These swap-free Islamic trading accounts are in accordance with Sharia law, which ensures compliance with Islamic principles. With this Islamic account, you can trade without any interest or swap charges. You can even trade various halal options such as oil trading, silver, and gold.

Steps Involved in opening an Islamic trading account:
1. Verify your account with the required documents
2. Fund your halal trading account
3. Request customer service to apply for an Islamic account

The process may take 1-2 business days to open an Islamic account on AvaTrade. Follow the steps to open your Islamic trading account with AvaTrade.

How To Use Islamic Broker Account

Use an Islamic broker account for Halal trading. With an AvaTrade Islamic account, you can trade on their platforms such as Webtrader, MetaTrader 4, MetaTrader 5, Ava social and Ava Options. This AvaTrade account allows you to trade serving the need of your Islamic faith and trading style. You can use an Islamic broker account without any daily swaps or any other AvaTrader trading fees. However, you need to pay swap charges if you open your trade for more than 5 days in your Islamic account.

With the AvaTrade MT4 and MT5 platforms, you can even do technical and price chart analysis. AvaTrade Islamic account does not allow you to trade ZAR, RUB, MXN, and BTRY forex pairs. Plus, AvaTrade minimum deposit requires a $100 for all new accounts – including AvaTrade CFDs crypto accounts.
Additionally, using an Avatrade demo account, Islamic traders can learn the necessary tools and steps to trade in a safe environment until ready to risk their capital.

Definitely, use an Islamic broker account in AvaTrade for Halal trading.

Halal Trading For Gold, Silver, and Oil

With an AvaTrade trading account, Islamic traders can participate in halal trading for gold, silver, oil, stocks and Forex. In order for this type of trading to be considered halal, each trade has physical support of the metal. The platform also offers Islamic oil trading under swap free accounts. For halal indices trading, you only pay the bid-ask AvaTrade spreads without swaps.

In Forex Sharia trading accounts, Islam rules are adhered to by removing daily swaps. With AvaTrade, Islamic trader accounts are available for no-swap trading of CFDs, forex, and a wide variety of asset classes. Under these accounts, you can trade with 24 hours access. However, just monitor that trades should not be open for more than 5 days, or you may incur fees.

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Chad Axelrod

Chad Axelrod is a professional trader and market analyst with 15+ years of industry experience. Starting his career on Wall Street, he quickly realized his passion for writing and finance. Through his posts, reviews, and broker comparisons - he believes beginner and seasoned traders should make informed decisions while selecting a broker. At BrokerageToday.com, Chad prioritizes publishing unbiased and transparent reviews.

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