The Capital Index Islamic Account
In accordance with Islamic principles, the Capital Index Islamic account is Shariah compliant and offers traders who are followers of the Islamic religion the opportunity to trade the world markets without incurring any Swap or Roll-Over fees on positions held overnight. This Swap/Roll-Over free account means that at no point will interest be charged to the account or contained within the prices charged.
The Capital Index Islamic account is only available for Islamic traders who through their religious beliefs cannot accept interest being applied to their trading account.
Islamic Account Summary Features
- No interest/Swap charges
- No spread widening
- No time limit placed on positions
- No re-quotes
- Max leverage of 1:200
- Instant access to your trading profits
- CFD account based in USD
Terms & Conditions of the Capital Index Islamic Account
Clients who follow the Muslim faith are exclusively entitled to request an Islamic Account for online financial trading where no swap charges or rollover fees are applied for holding overnight positions.
In the event that a client who due to their observance of the Muslim faith cannot receive or pay interest, such a client may elect to request, in the manner provided by Capital Index (Cyprus) Ltd, that their trading account to be a swap-free account (“Islamic Account”).
This requires that the client formally declares that a request to render their account as Islamic shall only be made due to their said Muslim faith and for no other reason whatsoever. Capital Index (Cyprus) Ltd reserves the right to refuse the request of a client to designate their account as an Islamic Account upon its sole and absolute discretion.
Furthermore, in the event that Capital Index (Cyprus) Ltd suspects that a client is abusing the rights conferred to them by the classification of their account as an Islamic Account, Capital Index (Cyprus) Ltd has the right, without prior notice, to proceed with one or more of the following:
- Capital Index (Cyprus) Ltd may add commission upon each and every one of the trades executed on the Islamic Account;
- Capital Index (Cyprus) Ltd may cancel the special rights and/or conditions conferred to the Account due to its classification as Islamic Account, recall the designation of the Account as Islamic Account and render it as an Advanced Trading Account;
- Capital Index (Cyprus) Ltd may restrict the client from hedging their positions;
- Capital Index (Cyprus) Ltd may, upon its sole discretion, close any open positions and reinstate them upon the real market price. The client hereby acknowledges that they shall bear all costs derived from the aforementioned action, including but not limited to, the cost on the change of the spread;
- The client acknowledges and agrees that in case of a loss caused to Capital Index (Cyprus) Ltd due to rollovers of positions on swap-free account(s) Capital Index (Cyprus) Ltd will have the right to obtain said loss from the client by debiting any of their accounts by the amount. If the client’s accounts hold insufficient funds to compensate, the client agrees to transfer the requested amount to their account(s) upon Capital Index (Cyprus) Ltd’s first request.
A handling charge will initially be applied to any position held overnight on day one and then every third day thereafter. For more information regarding these charges click here