Swap-free accounts, also known as Islamic accounts, are designed to accommodate traders who wish to avoid paying or receiving swaps or interest on overnight positions. These accounts are particularly popular among Muslim traders who adhere to Sharia law, which prohibits earning interest and profit from certain activities, including forex trading. This article provides an overview of swap-free account brokers, their features, and the benefits of using such accounts.
Account Types
Micro account forex brokers offer a type of trading account where the minimum trade size is significantly smaller than standard accounts, typically 1,000 units of the base currency. This allows traders to participate in forex trading with a smaller initial deposit, making it an ideal choice for beginners or those with limited trading capital.
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PAMM (Percentage Allocation Management Module) account forex brokers offer a type of trading account that allows investors to earn returns from the success of another experienced trader. This type of account is particularly beneficial for investors who prefer a passive investment model in forex trading.
Key Features
Investment Opportunity: Any trader can invest in a…
Cent account forex brokers offer a unique type of trading account where the trading balance is denominated in cents instead of standard currency units like dollars or euros. This allows traders to trade in smaller lot sizes, making it an ideal choice for beginners or those with a smaller trading capital.