Islamic trading account is a specific category of trading accounts also known as interest free or swap free accounts. Islamic trading accounts permit clients of Islamic religion to trade on interest free accounts (Swap free or Rollover free) with no extra charge or penalty for the ability to trade in adherence with Islamic religious principles.
Usually, Islamic trading accounts have higher spreads, generally one point higher than the standard accounts. AGEA does not differentiate between non-Islamic and Islamic trading accounts on its default Streamster trading platform and has introduced Zero-Interest policy on all open positions, meaning that there is no overnight interest charged or paid on open positions while trading on the default trading platform.
For this reason there are no conflicts between AGEA’s services and Islamic Riba prohibition on the default Streamster trading platform.
Overnight Interest as a cost of carry associated with holding a position for more than one day is charged on other platforms offered by AGEA.