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What is an Islamic Account?

The Islamic account is a type of trading account designed for Muslim traders that does not involve interest charges for overnight positions or swaps, which are typically incurred when holding trades open for a longer period of time.

Key features of the Islamic account

No Swap fees

Unlike regular accounts, which may incur swap or rollover interest charges, Islamic accounts are swap-free, meaning no interest is paid or received on overnight positions.

Compliance with Shariah Law

The account structure is designed to meet the ethical and legal requirements of Islamic finance, which prohibits earning or paying interest.

Same Trading Conditions

The trading conditions, such as spreads, leverage, and market access, are typically the same as in any other account type, but without interest.

Why Is Doo Prime the Ideal Choice for Your Islamic Account?

1:1000 Leverage

Benefit from flexible leverage up to 1:1000.

Swap-Free

Trade without overnight fees. Save big on every trade!

Ultra Low Spreads

As low as 0.1 pips, save up to USD 10 per lot.

Lightning-Speed Order Execution

In the blink of an eye - Reliable trade execution in just 50ms.

Please check the applicable administration fees that may apply to your account.

  • Acciones de Hong Kong
  • AUS Stocks
  • Principales divisas
  • Forex cruzado
  • Forex menor
  • Metales preciosos
  • Materias Primas
  • Índices bursátiles
  • Futuros
símbolo
Symbol
Símbolo
Intercambio largo
Swap Long
Intercambio largo
Intercambio corto
Swap Short
Intercambio corto
Intercambio de 3 días
3-Day Swap
3 倍隔夜利息
Divisa
Divisa
AUD / CAD
-1.2 -1.276 USD
-1.2 -1.276 USD
周三 22 : 00

How to Open an Islamic Account

1

Open a Live Trading Account

2

Request to Convert your Live Account into an Islamic account on Client Area.

3

Review and Accept the Terms and Conditions.

4

Enjoy Swap-free trading!

Open an Islamic Account

Frequently Asked Questions

What instruments am I allowed to trade with an Islamic account?

You can trade the same instruments with the same trading conditions as any other account type, just without the swap fees. 

What fees are associated with my Islamic account?

Islamic accounts at Doo Prime are designed to comply with Sharia law, which means they are free from interest-based charges. However, other trading fees may apply, such as:

  • Administrative fees: There may still be small administrative fees applied on all open positions. When a position is reopened, the  new position is calculated based on the closing price, rather than the original opening price.
  • Holding Fee: A holding fee will apply for positions held overnight. A triple holding fee will be applied on Fridays, and only negative fees will be charged (no positive fees will be credited). 
  • Other Fees: Depending on your trading account type, there may be commissions and dividend charges for applicable trading instruments.

What is the minimum deposit requirement for an Islamic account? 

The minimum deposit requirement for an Islamic Account is $100 USD which is the same for a STP or ECN account.  

Which countries are eligible for an Islamic account? 

Nationals of the following countries are eligible for an Islamic account:

Türkiye, Mali, Somalia, Syria, Iran, Iraq, Afghanistan, Algeria, Bangladesh, Burkina Faso, Congo - Kinshasa, Egypt, Ethiopia, Guinea, India, Indonesia, Côte d’Ivoire, Kazakhstan, Morocco, Niger, Nigeria, Pakistan, Philippines, Russia, Saudi Arabia, Senegal, Sudan, Tanzania, Uzbekistan and Yemen.