GSI Markets respectfully provides Islamic accounts, swap free; which strictly corresponds to Islamic Sharia Law. Forex trading is open for all people regardless of race and creed.

With our Islamic account, no swaps or roll over charges will be applied to Forex trading positions overnight. In other words, an Islamic Forex trading account is free from interest or swap. GSI Markets respects that for some traders this settlement is the most important part in trading Forex.

In GSI Markets, we close all trades in our Islamic accounts at 17:00. These account holders are able to reopen immediately, in order to avoid all issues and trading activities in accordance with Islamic Sharia law. Furthermore, the Islamic account holders will not receive or pay any usurious interest as a result of the immediate buying or selling.

In addition, clients who do not have the total price of a trade, are able to proceed with their investment using leverage. We offer leverage as means; which allows you to trade in almost any market. Once again, this is without any interest.

Here, is the Fatwa: (Rules in adherence with Islamic Law that allow Forex trading.)

The traders who are obliged to comply with Islamic jurisprudence (Faqih) often have a difficulty in the Forex market; due to the fact that it is necessary to make the instant exchange. However, recent academic researchers found that the record of funds transferred to bank accounts were tardy, hence Fatwas are legitimately issued.

Below are the imperative conditions that need to be observed carefully:

  • Instant buying and(or) selling with no time delay.
  • The currency pair should be registered in the trading accounts of buyer and seller.
  • The exact price of the trading transactions should be paid with no time delay.
  • There is no interest on trading activities. In other words, there are no usurious rates of interest.