For Muslim traders who open an account at Thinkmarkets, it is important to pay attention to changes in trading conditions on Islamic accounts before setting up a trading strategy.
A Sharia account, or what is generally referred to as an Islamic Account, is an account offered by a broker for its traders to minimize the risk of usury from swaps. One of the brokers who provide it is ThinkMarkets.
Because Islamic accounts do not charge Swaps, the compensation comes from administrative fees. Reporting from the official website, ThinkMarkets reports that the amount of admin fees on the BTCUSD pair has been changed.
BTCUSD positions held for 7 days will be charged an admin fee of 30 USD. For complete information regarding contract specifications, traders are encouraged to always be updated by monitoring the information on the ThinkMarkets page.
ThinkMarkets is a broker that provides a variety of trading instruments. Starting from forex, indices, energy, metals, Crypto, equities and ETF, to futures. Besides Islamic Account, they also offer various accounts such as Standard Account (spread start from 0.4 pips) and ThinkZero account with a spread start from 0 pips.
The leverage offered by ThinkMarkets is 1: 500, a competitive figure and in accordance with the regulations set by ASIC. In addition, ThinkMarkets provides AutoChartist features and a free VPS. ThinkMarkets has a Customer Services team that is ready to serve client questions via live chat. To know more about the ThinkMarkets broker, see the review here.