VT Markets, a leading online trading platform, offers swap-free accounts tailored to meet the needs of traders who, due to their religious beliefs, cannot participate in trades that carry swap fees. This article delves into the specifics of VT Markets’ swap-free accounts, addressing common queries and highlighting the features that make these accounts both unique and accessible.
Yes, VT Markets provides swap-free accounts which operate as standard CFD trading accounts with one key difference: no swap fee is applied to trades held overnight. It’s important to note, however, that a small administrative fee is still applicable to these transactions.
Friendly Reminder: Swap-free accounts with zero admin fees are available only to traders in certain countries and regions. For more details, reaching out to our customer support team is recommended.
Clients utilizing VT Markets’ swap-free accounts will be subject to Standard STP spreads. Additionally, an admin/agency (Wakeel) fee is levied, covering administration-related expenses.
The administration fee on swap-free accounts is necessary to cover the costs associated with maintaining open positions in the global markets. VT Markets passes on the fees charged by liquidity providers for keeping positions open, ensuring fair and transparent access to trading opportunities.
These accounts are specifically designed for Forex traders who, due to religious reasons, cannot receive or pay swaps. VT Markets aims to provide traders of the Muslim faith with equitable access to global markets through these specialized accounts.
Opening a swap-free account with VT Markets follows the regular account registration process, where you’ll have the option to select the swap-free account type. Remember, accounts with zero administrative fees are restricted to specific countries and regions, so consultation with customer support is advisable for clarity.
VT Markets does not offer loans to clients. The platform facilitates margin trading, where financing is provided by Liquidity Providers, who then charge an Administration Fee. This fee is communicated to clients via the MT4 platform.
The administration fee and spreads charged on swap-free accounts are legitimate and justified charges for the services provided by VT Markets. These fees are in place instead of the interest or swap charges found in conventional accounts, maintaining the Shariah compliance of these accounts.
The operation of VT Markets’ swap-free accounts is grounded in Islamic financial principles. The relationship between VT Markets and its clients is that of Wakalah (agency), where VT Markets acts as the agent managing the accounts. The relationship with liquidity providers is defined as Qardh (loan), managed under a signed mandate by VT Markets, ensuring compliance with Shariah law.
VT Markets ensures Shariah compliance by segregating Shariah funds from conventional funds, with all client funds held in segregated accounts with top reputable banks worldwide. This ensures the protection and integrity of your investments.
Clients with swap-free accounts are subject to Standard STP spreads or RAW ECN spreads, ensuring competitive pricing and transparency across all transactions.
For further inquiries or to apply for a swap-free account, contacting VT Markets’ customer support team is the best course of action. Contact Us!
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