One of Best Islamic Crypto Broker Swap Free Account

In BTCUSD Crypto Currency, there's the payment of swap fee each day: - This brings the Issue of paying and getting paid of interest which is an Issue in the Islamic Religion. Islamic Religion does not allow paying & getting paid interest, for Islamic btcusd crypto currency traders there a trading account designed in compliance with their Values: Known as Best Islamic Crypto Broker Swap Free.

For this btcusd cryptocurrency account a trader will not pay the overnight rollover interest and also will net get paid any interest, this also is known as Shariah Compliant where there is no paying of RIBA (interest) - also known as Islamic Trading Accounts.

For a btc/usd trader to get a Best Islamic Crypto Broker Swap Free account, a bitcoin trader has to go to a cryptocurrency broker & select option of 'Islamic Trading Account', This option is provided under the Accounts Section of the broker specifying the instructions of how to open one of these accounts.

Once a trader opens a this btcusd cryptocurrency account, then Bitcoin Trading rollover interest is removed. Once this no paying & being paid of interest is set, if a trader is using a platform such as MT4 then the rollover fee record will be set to zero.

Rollover fee is charged daily at the end of the trading day for which a swap is to be applied. As a trader if you do not want to pay this roll over you should close your transactions before the end of the day, that way you will not pay the rollover fee as you are no longer holding the open bitcoin trade. Because the btcusd crypto market doesn't open on Saturday & Sunday, the rollover for these two day will be charged on Wednesdays, meaning on Wednesday one will pay the roll-over for Wednesday, Saturday and Sunday, and hence on Wednesdays this rollover fee is paid Three Times.

These positions that pay a rollover interest are commonly known by traders as Overnight Trades. Day Traders rarely leave their trades opened overnight & close them all before the end of the day. Swing Traders on the other hand may leave their trade transactions opened for a few days and leave these trades overnight so that to capture more movement in the bitcoin price trend.

Once a trader finds a Best Islamic Crypto Broker Swap Free broker & opens & Islamic Trading Account, the trader will have the same conditions as those of other traders, except for the paying of rollover fees. This means a btc usd trader will use the MT4 Software like all the other traders, the trader can trade currencies, all indices, all CFDs, all metals and all other Financial Instruments provided by the online broker.

However, be careful in selecting a Best Islamic Crypto Broker Swap Free broker, some brokers will add a commission or add some pips to the spread you trade with to cover the swap(Swap Fee Online Broker). This is not supposed to happen as a bitcoin trader will still be paying for the interest even though is disguised as another charge, good Brokers don't add any commission nor do they add any charge on to the spread.

Another thing is that some brokers will charge rollover fee a.k.a swap fee, if the trade position opened by a btc/usd trader is held for more than 5 to 7 days, this should not be the case and the crypto broker should not charge any carry-over interest even if open trade positions are held for more than 5 or 7 days. For traders wanting to open this Islamic Crypto Broker Swap Free Account it is good to check for any additional terms of trading for the Islamic Account that you're going to be opening to make sure that the crypto broker you select is really a no swap broker.

Islamic Bitcoin Account - Swap Free Account Explanation - Swap Free Account Explained

Islamic Bitcoin Account

Best Islamic Crypto Broker Swap Free accounts were introduced by brokers after demand for carryover interest free a.k.a swap free accounts grew among the Islamic bitcoin traders. Traditional account entailed paying of rollover interests in what is referred to as rollover interest. This led to introduction of Interest Free Trading Accounts that Islamic traders could open & still keep in line with their rules on no paying & getting paid interest - Swap Free Bitcoin Trading Accounts.

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One of Best Islamic Crypto Broker Swap Free Account