The XM forex Islamic accounts differ greatly from those generally offered to other people, like you. The difference lies in the fact that unlike most forex companies who substitute additional fees by widening the spread on Islamic accounts, XM imposes no additional charges.
In order to abide by the religious law of Islam, traders of Islamic belief are forbidden to pay interest. However, if the interest charge is transferred to a different type of fee, it is basically still a charge that covers the interest. This is also known by the name of swap-free in disguise. XM is firmly against such practices as it opposes to fair and ethical trading conditions.
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