As cited from the official website, ThinkMarkets informing some changes in the administration of Islamic Account.
As cited from the official website, ThinkMarkets informing some changes in the administration of Islamic Account. These updates involve in exotic currencies and administration fees started from Monday 2nd December 2019. Following this information, ThinkMarkets emphasized that Islamic account will remain Sharia-friendly, with several adjustment needs to be reviewed.
First changes applied to exotic currencies, which will no longer be offered for Islamic Account. Any position that opened in CNH, HKD, HUF, MXN, PLN, TRY an ZAR will be automatically closed at 20.00 GMT, 2nd December 2019. The trader would still be able to make transactions in those currencies, but there will be some swap applied for an overnight position.
The second update that needs to be reviewed is the administration fee. The administration fee will be charged weekly with various rates and there are two groups of administration fee, explained as follows:
1. Group 1, 5 USD Fee
AUDUSD, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY, XAGUSD, XAUUSD, COPPER, PLATINUM, WTI, BRENT, NGAS
2. Group 2, 10 USD Fee
AUDCAD, AUDCHF, AUDJPY, AUDNZD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURNZD, EURNOK, EURSEK, EURSGD, GBPAUD, GBPCAD, GBPCHF, GBPNZD, NZDCAD, NZDCHF, NZDJPY, USDNOK, USDSEK, USDSGD
ThinkMarkets Sharia-Compliant Account Giving Ease For Islamic Trader
As a professional broker that already serving the forex industry since 2010, ThinkMarkets continuously improved its service and performance. The existence of Swap-Free Account providing ease for Islamic traders to keep their trading activities following the religion rules, with paying very small fees for weekly positions. These charges will be made in the 7'th day, following the rates that already explained above.
For further information, visit ThinkMarkets official website here.