• July 15, 2009

A Swap Free Forex Account

Swap free Forex accounts are set up specifically for Islamic Forex trading. These accounts specifically apply to Forex accounts that must be free of swaps and interest earnings. All of these accounts comply with Shariah laws and do not accumulate interest or swap fees.

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Trading Islamic Forex with Middle East Currencies

Islamic jurists generally agree that the currencies of different countries can be exchanged with those of different countries on a spot basis at a rate that is different from units. This is because currencies of different countries are unique and have different intrinsic values and purchasing power.

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The Basics of Islamic Forex Trading

Forex trading is the exchange of one foreign currency for another. The term Forex is derived from the two words foreign and exchange. It is basically the simultaneous buying of one currency and the selling of another. These exchanges take place in pairs of currency.

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Finding a Good Islamic Forex Broker

In order to get started in the world of Islamic Forex trading you will want to find a broker who is capable of setting up an Islamic Forex trading account. They must be familiar with Shariah laws and how to stay in compliance with them. There are many websites you can go to and look at what is offered.

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