All types of accounts XM offers have adopted Islamic status, including the award-winning XM mobile app.
As a global broker with clients from over 190 countries, XM has mastered the localization of its products and services to meet clients' diverse needs worldwide, including the Middle East and North Africa region. To accommodate the religious and cultural needs of traders in the region, XM has built a solid presence in the two areas over the past decade, offering competitive Islamic accounts.
Muslim traders need swap-free accounts where they won't have to pay or earn swaps due to Islamic Sharia law prohibiting interest accumulation.
Thus, the XM Islamic account is fully optimized to offer swap-free trading without changing other conditions. This will give account holders an equal opportunity to trade with tight spreads, flexible leverage, and no additional fees.
XM upholds a strict ethical responsibility to remain transparent with no hidden terms or conditions. This applies to swap-free accounts, so traders know exactly what to expect and can have peace of mind that their account is permanently Islamic.
Verifying the account only takes a few minutes with a user-friendly process. Once the account is verified, traders can quickly request swap-free status via the Members Area.
Islamic status can be applied to all account types offered and used on any trading platform, including the award-winning XM app. This allows traders to benefit from low spreads from Ultra-Low accounts while enjoying bonus margin trading from Standard accounts.
XM is known for its extensive educational resources, including webinars, video tutorials, articles, analysis, and one-day hands-on education. Together with the company's outstanding customer service team, they create a solid foundation for traders to improve their skills and make the most of their Islamic accounts. Muslim traders are welcome to open an Islamic account with XM anytime.