TYPES OF ACCOUNTS

CUENTA STANDARD CUENTA PREMIUM CUENTA VIP
Deposito Inicial $15000 $50000 $1000000
Apalancamiento 1:100 1:100 – 1:200 1:100 – 1:500
Número de Operaciones Con Restricciones Sin Restricciones Sin Restricciones
Spread Variable Variable Variable
Servicio al Cliente en Múltiples Idiomas 24/7 Incluido Incluido Incluido
Gestor de Cuenta Dedicado Incluido Incluido Incluido
Ejecución de Mercado Incluido Incluido Incluido
Acceso a Plataforma Web Móvil y Tablet Incluido Incluido Incluido
Acceso a Análisis de Mercado Incluido Incluido Incluido
Instrumentos Financieros Sin Restricciones Sin Restricciones Sin Restricciones
Divisa Base de la Cuenta USD USD EUR GBP USD EUR GBP
Acceso a todos los productos Trading Incluido Incluido Incluido

ISLAMIC TRADING ACCOUNT

 

 

What is an Islamic trading account?

 

Islamic trading accounts are accounts that, because of their special characteristics, allow trading in financial markets in accordance with the principles of Islamic Law or Shariah.

 

In accordance with Islamic Law, the collection of interest, called riba, is prohibited. For this reason, the main characteristic of Islamic accounts is that they do not generate or accrue interest for maintaining open positions in the market over time.

 

Generating interest in trading is particularly important when you are trading in the CFD’S Market. In a normal trading account, when open positions are held beyond 24 hours, a charge called swap is automatically generated. This charge is an interest, so it is not allowed according to the precepts of Islamic law.

 

In contrast, in Islamic accounts the swap does not exist.

 

Instead of the collection of this interest, in the Islamic accounts are charged administration fees in the account that have been previously agreed between the parties. For this reason, it is usual to also call this type of accounts as free swap accounts.

 

In accordance with Islamic Law, the collection of interest, called riba, is prohibited. For this reason, the main characteristic of Islamic accounts is that they do not generate or accrue interest for maintaining open positions in the market over time.

 

The generation of interest in trading is particularly important when you are trading in the CFD’S Market. In a normal trading account, when open positions are held beyond 24 hours, a charge called swap is automatically generated. This charge is an interest, so it is not allowed according to the precepts of Islamic law.

 

In contrast, in Islamic accounts the swap does not exist. Instead of the collection of this interest, in the Islamic accounts are charged administration fees in the account that have been previously agreed between the parties. For this reason, it is usual to also call this type of accounts as free swap accounts.

 

When a position is opened, what is done is to buy or sell a pair of CFD’S

 

To calculate the swap of a position, keep in mind that by keeping the position open beyond 24 hours:

 

An interest is paid for the contract sold.

An interest is charged for the purchased contract.

Therefore, the calculation of the swap will be determined by:

The interest rates of the countries whose contracts form the pair in which it is operating.

 

The type of position: long or short, or, which is the same, if the position is to buy or sell the pair.

 

¿Why should I use Steigen Makler’s Islamic account?

Steigen Makler is an internationally regulated broker. The commitment to its customers has been awarded worldwide on many occasions. With these guarantees Steigen Makler puts at your disposal your special Islamic account service.

 

With this type of account you can benefit from all the advantages offered by a broker such as Steigen Makler and, at the same time, operate in accordance with the precepts of Islamic Law.

 

The Islamic account of Steigen Makler has been specially designed for traders who do not wish to receive or pay for swaps, but who, in turn, wish to keep the rest of the functionalities and advantages that the accounts of Steigen Makler makes available to their clients.

 

Notice! You should bear in mind that Steigen Makler is not a legislative institution. Therefore, you should not take the Islamic account definition as permission to operate. Please verify that all stock operations are in accordance with your beliefs.

 

Cryptocurrency operations are not available in Islamic accounts. Cryptocurrency operations are subject to fees and special interests, incompatible with the characteristics of the Islamic accounts offered by Steigen Makler.

DEPOSIT OF FUNDS

Depositing funds in Steigen Makler Limited to operate in your trading account is quick and easy.

 

Contact the Customer Service Center for more information about the Deposit of Funds.

DEPOSIT BANKS 

We accept the following currencies: EUR, USD, GBP

WITHDRAWAL OF FUNDS

The withdrawal of funds is only available to customers who have complied with all the documentation requested by the Customer Service Center as a backup and have a validated trading account.

 

All withdrawal requests will be completed within 24 to 48 business hours; however, all withdrawal requests sent will be instantly reflected in the client’s trading account as outstanding withdrawals.

 

In the event that the client selects an incorrect withdrawal method, the client’s request will be processed according to the withdrawal priority procedure described above.

All customer withdrawal requests will be processed in the currency in which the deposit was originally made.

 

If the currency of the deposit is different from the currency of the transfer, the amount to be transferred will be converted by Steigen Makler Limited in the currency of the transfer at the current exchange rate.

 

For more information about withdrawals, contact the Customer Service Center.