I am looking Swap free brokers, Could anyone suggest!!!
If its wrong post, delete it
You mean an islamic broker? Surely you can find them by googling “Islamic broker”. Or what am I missing here?
Yup i talked about Islamic Broker, as well i google it and read review unfortunate most of are bad reviews and kind of scared to join with them… that is why trying to getting help some one who has knowledge about them.
Well, all brokers have bad reviews. I am not sure that you will find a lot of people here using them. At least I haven’t seen a lot of discussions about them. Can you mention a couple of them, perhaps we recognize them by name.
I really focus on FxGlory broker but Margin call level 50% Stop-out level 30% are keep confusing me, even i don’t have single idea about those technical words. I am still on learn with demo account and Thx for replies!!
Why do Islamic brokers not charge a swap?
According to the Islamic religion, any transaction/deposit in which one of the parties has to pay or receive some interest from another party is forbidden.
I have not tried islamic accounts, but I do trade with hotforex and they do have one. you might want to look into it, while at it kindly keep us posted. 
not a lot of traders do swap-free trading, best of luck
Swap (also known as rollover interest, or overnight interest) is interest that a trader either receives or pays for positions that are held overnight, and are based on the interest differential between the currencies that their position involves. Swap-free accounts are intended mainly for Islamic traders who wish to comply with Islamic law, which prohibits any type of interest payments. These accounts can also be useful to non-Islamic traders who simply wish to do away with the uncertainty in overnight interest, who plan on taking a longer term negative swap position, or other reasons. Some brokers who offer these types of accounts charge certain fees instead of actual interest, so that traders wouldn’t abuse the privilege. On the other hand, some brokers do not charge any extra fees (but most do monitor such accounts for abuse).
I haven’t heard of them, but now I think of it, as Islamic brokers aren’t very well know the changes are Most of us never heard of them anyway, so that doesn’t say much.
I haven’t looked at the site of FXGlory, but it looks like that they give you a margin call when a trade(s) currently open killed >50% of your equity and you have to act before it is on -70% at which they will stop the trade(s) for you.
Ok, I did not know that. But how do they purchase a house, car or take a business loan, surely they dont pay cash for everything?
Look up Sharia compliant loan.
Ok thanks will do so.
You can pay for a house or a car using a no interest Shariah compliant loan. You can find this at a Shariah compliant bank. For example Redirect (la riba Arabic for No Interest). Otherwise you would have to buy a house or a car out of pocket which isn’t very plausible in the States. Interest charged or paid is forbidden in Islam. So Islamic banks do not charge interest but instead use a shared investment plan for people to take out loans and buy property or large items. Just go to Redirect and you’ll find information about interest free loans and how it works.
Tks, can the non Islam qualify for these loans?
Is it really make sense if they did?
I have no idea about non-muslim but you can send email to them about your query.
There are ways around paying interest - for instance you pay a monthly fee. I have to say swap free brokers sound a lot better for a long term trader
Yes, it is possible. There are lots of brokers Forex who are now offering swap free account. I do not like t suggest anyone but i want to recommend to choose such broker Forex who have good reputation in the market.
Thank you alot, I looked into it and i have an account almost thx again