Im new to the forex world.
And im gonna open my real acct soon.
But little confused which broker should i choose…
Have made several decision but when i read other site, the blame my broker selection. Can anyone help me choosing broker.
My broker selection criteria
Im gonna open maximum usd1500. and wanna search for best minimal lot can trade using my initial deposit. (prefer 0.01 - 0.1)
Hey, take a look at FXCM or Alpari for example.
There are dozens of Brokers in the world and only 20 % maximum are a good solution to trade with.
I would recommend you Varengold Bank to trade with, but the minimum would be 2500 USD there. …
Ooh no…
When i search more, i get more.
But this is the worst i think.
Can anyone suggest or explained it to me…
Its make me hard to select the broker…
I’ve never used the debit card option, so I can’t say how well it works.
IBFX has never had a problem sending me a check when I’ve requested one, though. I’m fully confident that they’ll pay up by whatever withdrawal method you choose.
You got it! The Qur’an forbids Muslims from either charging or receiving interest, and since forex swap is based on the difference in interest rates it is forbidden.
So instead of losing the business of Muslims a lot of brokers will cover the swap instead of passing it on to the trader. They usually charge a fee for this service that ends up costing more than the swap, but fees are not against Sharia law so everyone is happy…
Lol. Most of our banks offer various banking options for Sharia law. They generally have an “Islamic Banking” section where the person doesn’t earn interest, but gets a profit share from the bank on a yearly basis.
I had an argument with a friend of mine, saying that while a bank does earn money from fees, it also earns a substantial amount from loans and therefore charging interest. But apparently because it’s a few steps removed it’s all good.
There are a few strict muslims I know who don’t even use that though, they will only open bank accounts that don’t earn any profit share or interest, and they usually keep cash in a safe rather than a bank.
I suggest you don’t. Any legitimate broker, even one that caters to a mostly Arabic speaking client base, should NOT have spelling and grammar mistakes on their English website. It’s a sure sign of a scam!
It only costs a couple hundred dollars to hire a good translator. If the company can’t afford that they are probably being run out of someones basement.
Stay away from any broker that claims to be “very serious to gives a good service.”
Even in a safe, they are contributing to some form of interest or another. Inflation can be considered interest on what a country owes its citizens and other countries. Also, how to Muslims get a mortgage for their house? People really need to think about how ridiculous their parent’s religion is before they blindly follow it. No offense intended to the OP.
I see where you’re coming from, and even though I know quite a few staunch muslims, I don’t agree with them either. As for keeping money in a safe you’re definitely not earning interest nor paying. Your money basically just becomes worth less in buying power so that’s not really an issue. While inflation is often represented in a %, it’s not actually earning interest, it’s just increasing in value.
If one day you buy an apple, the next day everyone else eats theirs and you’ve got the last one you can charge a fortune for it. The pips (pun intended) alone would be worth a mint. You haven’t earned interest, your apple has increased in value. Which is why they can still trade Forex, as long as the broker does not deal with interest paid out.
There are some amazing aspects in Islam that make a lot more sense than those in other popular religions, but this is probably not the best forum for that conversation
As for mortgages, these guys don’t get them. They buy in cash or single payments. Most often family members will offer an interest free loan to other family members if need be. Muslims do business with Muslims and keep money flowing and generating in their circles.
As an atheist I could say the exact same thing about any religion, but that’s probably another conversation for another fourm
