ADS Securities (ADSS) and Admiral Markets Jordan accommodate traders of Islamic faith through special swap-free accounts. How do they compare?
The popularity of Middle Eastern-licensed forex brokers is rising as more and more people trust local regulations. On the other hand, traders face more choices than ever as an increasing number of forex brokers strive to establish their presence in the region. Two of the most striking examples are ADS Securities (ADSS) and Admiral Markets Jordan. Let's see how they accommodate the needs of Islamic traders that constitute the majority of residents in the area.
ADS Securities (ADSS)
ADS Securities is an award-winning leading MENA broker that was founded in 2010. Its headquarter is at 8th floor, CI Tower, Corniche Road, Abu Dhabi. The company offers world-class services in leveraged trading, authorized by the Securities and Commodities Authority (SCA) in the UAE and the Financial Conduct Authority (FCA) in the UK.
Islamic Account Details
ADSS introduces three types of trading accounts:
- Classic accounts require a USD100 minimum deposit. Traders will be able to receive competitive market spreads, all the necessary equipment to start trading with Metatrader4, and training courses.
- Elite accounts require a deposit of over USD100,000 to access 25% lower spreads and connect to a dedicated senior manager.
- Elite+ accounts require a deposit of at least USD250,000 to access ultra-low spreads. Traders will not only be connected to a manager but also a sales trader.
Both Elite and Elite+ accounts offer multi-base currencies (AED, GBP, EUR, USD, and JPY), along with invitations to Elite events. Classic accounts do not have similar features.
Islamic option (swap-free) is available for all accounts. ADSS' swap-free account enjoys the same spread as the broker's regular accounts. There are no additional charges as long as your equity level is less than USD30,000. However, the swap-free account comes with a few requirements.
First, you have to submit specific requests and fulfill additional terms for your Islamic account to be approved. Second, clients can open several trading accounts, but will only be able to open one swap-free account. Contact ADSS to learn further.
Deposits and Withdrawals
ADSS provides multiple choices for deposits and withdrawals. Of particular note, United Arab Emirates residents may choose payment via UAEGPS --the national transfer payment gateway established by the Central Bank of the UAE-- for safer and quicker processes. Clients from other countries may prefer bank wire/transfer, card, or online transfer services. Funding can be finalized within 30 minutes, but withdrawals may take up to several days depending on your preferred payment method.
Admiral Markets Jordan
Admiral Markets AS is the Estonian-based arms of Admiral Markets Group AS that has been providing reliable financial services since 2001. They expanded their operation by opening a subsidiary in Jordan in June 2001 at 4th floor, Eritrea St., Amman 11183.
Admiral Markets Jordan has received local licenses from the Jordan Securities Commission (JSC) with registration number 57026. The company offers the same high-quality services provided by Admiral Markets' main office, including a variety of advanced trading platforms and swap-free option (Islamic Forex Account).
Islamic Account Details
Admiral Markets' swap-free option is only available for Trade.MT5 accounts, and cannot be accessed with other types of accounts. It requires a deposit minimum of USD25/EUR25/JOD25/AED100 (minimum deposit corresponds to the account's base currency). Traders will then be able to take advantage of leverage up to 1:500 on forex pairs and indices, spread starting from 0.5, and low commission.
You can open an Admiral Islamic account easily. It applies the same trading conditions as standard trading accounts, with unrestricted access to all trading instruments and all trading styles. However, the company charges administration fees instead.
From Monday through Thursday, Admiral Markets calculates and applies the administrative charge between 0:00 and 00:01 (EET) on all open positions on all Islamic trading accounts. On Fridays between 0:00 and 00:01 (EET), a 3-day administrative fee is assessed in order to roll open positions over the weekend. The charges may seem similar to swaps (rollovers) but are actually non-interest-based.
Deposits and Withdrawals
How do we deposit or withdraw money from Admiral Markets Jordan? There are various payment options, including bank wire, cards, e-money transfer services, and crypto wallets. Both deposit and withdrawal are processed within one business day (requests outside working hours will be processed on the next business day).
So, Which One Will You Choose?
Both brokers have their own advantages. See the following table for direct comparison, and choose whichever you think is the most suitable for you. Feel free to try out ADSS' platform or Admiral Markets Jordan's demo account for closer observation.
| Features | ADS Securities | Admiral Markets Jordan |
| 💰Minimum deposits | USD100 | USD25/EUR25/JOD25/AED100 |
| ⚖Leverages | up to 1:500 | up to 1:500 |
| 🕌Islamic accounts | available upon request, no additional charges | available for Trade.MT5 accounts only, additional charges applied |
| 🔢Spreads | variable, starting from 0.7 pips for the Elite+ account and may double on the Classic account | variable, starting from 0.5 pips |
| 💻Trading platforms | Metatrader4, ADSS App | Metatrader4, Metatrader5, Admirals Trading App |
| 💳Payment options | bank wire/transfer, credit card, Skrill, Neteller, Cash U, and UAEGPS. | bank wire/transfer, credit card, Skrill, Neteller, Perfect Money, and Crypto |
| 📃Licenses | SCA (UAE) and FCA (UK) | JSC (Jordan) |
16 Comments
Jan 17 2023
The only accounts I know of from many brokers are Cent, Micro, Mini, Standard, and Pro. I don't even know there is Islamic account out there, I mean what is the Islamic Account means? Trading is the same as any other account, right? There is deposit and there is leverage, also there is spread and also commission. Or is an Islamic account just another name for a standard Middle Eastern or Islamic country account? This is the first time I've heard about Islamic accounts, so I'm sorry if I ask too many questions and got confused at the same time.
Jan 17 2023
Andrea Mark: No need to apologize, I understand if some traders like you are still confused about Islamic accounts.
First of all, you need to know the Islamic account alias. If you read the above article carefully, you will find that there is a term swap-free account. yes! Another name for an Islamic account is Swap-free account.
Second, why is a swap-free account an Islamic account? Islamic law has rules forbidding Muslims to "guess" or speculate. And the rate in Islam is considered as speculate. Meanwhile every currency in the world has its own rate. If you trade with ordinary account, either you can get charged or paid. Negative rate will be charged, but positive rate will be paid. In Islam, this kind of course is 'haram' or 'forbidden'. This is why brokers give this feature to Muslim traders.
For the complete explanation about the swap-free accounts, feel free to read at this article : Islamic Account, Forex swap-free best solution.
Jan 17 2023
Thomas Jr: By the way, as you said about the swap rate itself, I don't understand it at all. I mean, I'm a newbie, so I don't really know all the trading terms, but I always know and look at my trading's portfolio as well. In my portfolio, the charge that I always get is spread. And meanwhile, my trading size still doesn't reach 1 lot yet, so I don't get charged by commissions. About the swap-rate that you mention, I don't have that in my portfolio and even my broker's don't tell about the swap-rate in their trading condition.
Jan 17 2023
Andrea Mark: Swap rates occur when a position trade is still open for a day. Charges will apply after the transfer date. You receive either a long swap rate or a short swap rate depending on the position you open. So, unless the position is not open until tomorrow, no fee will be charged. Also, Muslim traders who do not want to open a swap-free account can avoid open positions for a day in order to stay Halal.
The swap rate itself is actually available from your broker. You can find it on their website and usually in the details section of the instrument trading. As an example, these are the Admiral Swap Rates, I took EUR/USD as example :
As you can see the picture above, you can see the swap value for each position. Swap charge will be charged you with this formula (Buy/sell value-Buy/sell value), if you entry buy/Long position, the formula will become (Buy/Long Value-Sell/Short Value) and vice versa.
Jan 17 2023
Andrea Mark: Dude, if you want to avoid swap-free, it is simple! Just avoid to enter the trade during near changing day. That's not recommended because you will get swap even if your entry time just a second! That's the tips for scalper and day trader because scalper and day trader doesn't need to entry position up until 24 hours. Meanwhile for swing trader and position trader, this swap rate need to be counted because its fee is way more expensive. I said about avoid swap rate because swap-free account is not for all trader.
Feb 13 2023
ADDS sounds very interesting since there are no additional charges as long as your equity level is less than USD30,000. I have read many brokers and never meet the swap-free account condition that have this feature. As you know, many of my friends are Muslim trader and they always complain about higher spread, commissions, and admin fees that never had in standard account.
Even, sometimes they can get double fees during Wednesday or Friday due to the doubled swap rate fees policy. Because the broker can`t charge em with rate which is forbid in Islam, the brokers usually charge them with another non rate fees such as spread, commission, admin fees.
But, with ADDS, those who have less than USD 30,000 will not get additional charges. It is very good news to the Muslim traders. Indeed, very good choice to choose ADDS Swap free Account.
Feb 14 2023
Cory: New trader here. I understand why brokers charge maintenance fees for an inactive account. But don't you think $30,000 is a lot? For new traders, it sure is hard to keep that much money in your trading account. If I have less money than that, how much additional charges should I have to pay?
Feb 16 2023
I'm not used to trade on MT5 platform, but the review about Admiral Markets made me interested. Can you give a more detailed information about the documents that requested for opening swap free account? Am I should be muslims or the swap account open for all clients? Plus, CMMIIW, Admiral Markets is an Australian broker, right? Is it accepting trader from outside Australia??
Mar 23 2023
Karma: Firstly, regarding the documents required to open a swap-free account with Admiral Markets, it's important to note that this type of account is available to all clients regardless of their religion. The main requirement for opening a swap-free account is that you must hold a standard trading account with Admiral Markets. In order to open a standard account, you will need to provide some basic personal information such as your name, address, and email address. You will also need to submit proof of identity, such as a passport or driver's license, and proof of address, such as a utility bill or bank statement. Once you have a standard account with Admiral Markets, you can then request to open a swap-free account by providing additional documentation. This typically includes a letter of request stating that you require a swap-free account for religious reasons, as well as any other relevant documents such as a certificate of incorporation or a tax registration certificate. Regarding your second question, yes, Admiral Markets is an Australian broker and is regulated by the Australian Securities and Investments Commission (ASIC). However, Admiral Markets also has a global presence and accepts traders from around the world, subject to certain restrictions in certain countries.
Mar 23 2023
When comparing ADSS and Admiral Markets Jordan for Islamic traders, what are the key differences in terms of their trading conditions, account types, fees and commissions, and regulatory compliance? Specifically, how do the two brokers compare in terms of offering swap-free accounts and other Shariah-compliant trading options, and what are the specific requirements and documentation needed to open such accounts? Additionally, what are the risks and benefits associated with trading with ADSS and Admiral Markets Jordan, and how do these brokers ensure the security and safety of their clients' funds and personal information? Lastly, what are some of the tools and resources provided by ADSS and Admiral Markets Jordan that can help Islamic traders make informed trading decisions and maximize their trading performance, and how do these brokers compare to other forex brokers in the Middle East region?
Jun 20 2023
ADSS is a reputable MENA broker with a strong presence in the industry. The company operates under the authorization of two regulatory bodies: the Securities and Commodities Authority (SCA) in the UAE and the Financial Conduct Authority (FCA) in the UK.
Here's my question: How does the dual regulation by the SCA in the UAE and the FCA in the UK contribute to ADS Securities' reputation as a broker? What are the key characteristics of a strong regulator, and how do these regulatory authorities ensure the protection of clients' funds, promote fair trading practices, and maintain market integrity? Additionally, what are the benefits for traders in terms of choosing a broker like ADS Securities that operates under the oversight of multiple strong regulatory bodies?
Jun 24 2023
@Abby: Let me explain to you! ADS Securities' regulation by both the SCA in the UAE and the FCA in the UK adds a great deal to its reputation as a broker. These regulatory authorities are known for their strict oversight and commitment to client protection. They ensure that ADS Securities operates with transparency, maintains segregated client funds, and adheres to robust financial regulations.
A strong regulator is characterized by transparency, credibility, and the ability to enforce rules effectively. The SCA and FCA possess these qualities, which helps instill confidence in traders. They work to prevent financial misconduct, promote fair trading practices, and uphold market integrity.
By choosing a broker like ADS Securities, which is regulated by multiple strong authorities, traders enjoy several benefits. They can be confident that their funds are held securely in segregated accounts, and the broker operates with integrity and transparency. In case of any issues, traders can turn to these regulatory bodies for assistance and resolution.
Nov 25 2023
Hey, I've got a question about those swap fees during trading. The article mentions that from Monday to Thursday, Admiral Markets calculates and applies an administrative charge between 0:00 and 00:01 (EET) on all open positions for Islamic trading accounts. Then, on Fridays between 0:00 and 00:01 (EET), there's a 3-day administrative fee to roll open positions over the weekend. It seems similar to swap fees, but in Admiral Markets, it's labeled as administration fees for swap-free accounts. So, what's the deal with the swap fees being charged three times too?
Nov 29 2023
I caan help clarify that. The administrative fees you're referring to in Admiral Markets are essentially in place of the traditional swap fees for swap-free accounts. From Monday to Thursday, there's a daily administrative charge to cover the rollover costs for Islamic trading accounts. On Fridays, a 3-day administrative fee is applied to account for the weekend rollover.
Now, why the swap fees seem to be charged three times is likely due to the fact that this 3-day administrative fee on Fridays includes the charges for the upcoming weekend. It's essentially a comprehensive fee structure to address the rollover costs and maintain consistency with Islamic finance principles for swap-free accounts.
Feb 22 2024
Hey, I came across something interesting in the article about Admiral Market, particularly regarding their swap account. It mentioned that on Fridays between 0:00 and 00:01 (EET), there's a 3-day administrative fee charged to roll open positions over the weekend. Now, these charges might seem similar to swaps or rollovers, but they're actually non-interest-based.
I'm curious to learn more about this three-time charge in Admiral Market. Like, if I'm not an Islamic trader, does that mean I'll incur the swap fee three times on Fridays? I'm wondering why this happens and if it's common to have fees structured like this.
Feb 26 2024
Hey there! The three-day administrative fee charged by Admiral Market on Fridays between 0:00 and 00:01 (EET) is specifically designed to cover the costs associated with rolling open positions over the weekend. Although these charges may resemble swaps or rollovers, it's important to note that they are not interest-based.
Regarding your question about receiving the swap fee three times on Fridays, it's a possibility if you're not an Islamic trader. This is because the fee is applied to each open position that is rolled over into the weekend during that specific timeframe.
As for why this happens, it's a common practice in the forex market to charge administrative fees for maintaining positions over the weekend when markets are closed. These fees help cover the operational costs incurred by the broker.
Overall, while it may seem unusual to have fees structured in this manner, it's a standard practice among many brokers in the industry. If you have further concerns or questions about these fees, it's advisable to reach out to Admiral Market directly for clarification.