Is there any swap free account?
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J Jule Mancini Nov 25 2022
Is there any swap-free account available in the Tickmill trading account? I can't seem to find any information about it. I would be glad if someone could help me point it out. I really need a swap-free account from a broker that I can trust. So far, Tickmill seems to check all the boxes. I just need to know if they do have this feature.
E Elkan
Jan 24 2024
@Jule Mancini: Greetings! While Tickmill doesn't explicitly offer a swap-free account, they do accommodate traders following Islamic principles by presenting the Islamic Account, essentially serving as a swap-free alternative in adherence to Islamic law. This specialized account conforms to Islamic finance principles, enabling traders prioritizing Sharia law adherence to participate in trading sans interest or swap charges, presenting an ideal choice for those aligning their financial practices with religious beliefs. For Muslim traders, acquiring this account is streamlined by furnishing necessary documents like ID's validating their religious affiliation. However, it's essential to note that non-Muslim traders aren't eligible for the Swap Free account. If Tickmill suits your preferences and you engage in short-term trading, you can avoid swap fees. However, for extended trades, it's advisable to explore other brokers if you're not of the Muslim faith.