Shariah Broker becomes a choice for a Muslim trader who wants free from the risk of riba.
As the internet grows among society, a new practice started in the formed of the satisfaction to afford money in quick and easy way such as placing trading forex.
For Muslim, asking about the halal status of this business is natural. Is it related to riba or not as a profitable sharia investment choice and free riba.
However try not to be worried, MUI (Majlis Ulama Indonesia/Indonesian Ulema Council) gave fatwa stated that trading forex allowed with a condition: it does not have speculative because the way trading started differently with gambling.
For that reason, you can partner with brokers who provide a swap free account or sharia account. Indeed, they facilitate beneficial rules based on religion principle for increasing broker market segment.
Here are the recommendations of brokers provide sharia account which is important as a trader:
1. Instaforex
This Russian Broker very popular among Indonesian trader. Instaforex widely known provides trading services which support client transaction in money market.
Not only that, but the broker also known as trusted forex broker regulates from financial monitoring services of Russia (FFMS/ the Federal Financial Markets Service) so that you do not have to worries with your financial security.
Furthermore, Instaforex provides sharia suitable trading platform for Muslim trader in Indonesia or all around the world.
2. OctaFX
Still from Russia, OctaFX provides sharia trader means it is interest-free. Moreover, the broker has low spread with high leverage with value until 1:500. It means you get an opportunity to have a high profit.
OctaFX also ensures the client to have smooth pleasant trading experience with advanced technology.
This broker also allows the client to use a convenient trading technique with their character so that can be said OctaFX is suitable for scalping.
3. FBS
FBS established its business operation since 2009 and 2 years later in 2011 open the branch in Indonesia.
The broker provides Sharia account so it can develop rapidly in the Muslim majority country. Moreover, FBS also develops a program of forex trading in every education center.
You only need stock around USD 1 to sign up on FBS real trading account. The trader has opportunities to earn additional bonus until USD 5 for cent account with leverage 1:2000
4. XM
You need to know the sharia account only for Muslim trader so XM will complete a strict selection.
You can request free swap account to XM broker on all type of account if you provide verification terms while sign up your account.
5. Exness
This Russian broker established since 2008 provide free interest account that can be an option for Muslim trader. Exness has regulation from FCSM and to open your real account you need deposit only USD 10.
While for beginner trader with limited fund, they can have profit with leverage until 1:1000.
Read more: 4 Types of Forex Traders
