Islamic Account Checklist — 12 Questions Before You Fund

Score this account

1. Is there ANY overnight charge — by any name?

Ask: "Will my account be charged any fee for positions held overnight, regardless of what the fee is called — swap, rollover, admin fee, financing fee, holding fee, currency conversion fee?" A genuinely swap-free account answers "no charge of any kind for holding positions, regardless of duration."

2. Is there a maximum hold period before fees kick in?

Some brokerlar offer swap-ücretsiz for 5-14 days only. After that, swaps apply. This is structurally a deferred swap — useful for day yatırımcılar but problematic for swing yatırımcılar. Ask for the explicit hold period.

3. Are the spreads identical to standart hesaplar?

If the İslami hesap has noticeably wider spreads, the Broker has built the swap revenue into the spread. Structurally still a financing component, just hidden. Check by comparing the live spreads side by side.

4. Is the commission per lot the same as on a standart ECN hesap?

A Broker that offers a swap-ücretsiz ECN hesap at $7/lot instead of $7/lot has done it cleanly. A Broker charging $14/lot has loaded the cost. Compare to the standart ECN hesap commission.

5. Is swap-ücretsiz available on all instruments — or only forex majors?

Some brokerlar only remove swaps on EUR/USD, GBP/USD, USD/JPY etc., but keep them on metals, indices, and crypto CFDs. If you işlem gold or indices, this matters. Get the full list of swap-ücretsiz instruments.

6. Is there a "negative balance protection" guarantee?

If a sharp piyasa gap leaves your hesap below zero, who covers the negative balance? On most regulated brokerlar it is automatically zeroed out. On some unregulated brokerlar, you owe the Broker the negative balance — which crosses into a debt with riba implications. Get this in writing.

7. What is the broker's regulation?

Top-seviye regulation (FCA in UK, ASIC in Australia, CySEC in EU, DFSA in Dubai) means gerçek client money segregation, gerçek complaints procedures, gerçek audit. Offshore-only regulation (St. Vincent, Vanuatu, Marshall Islands) means you have very limited recourse if anything goes wrong — and recourse-less işlemler have additional gharar concerns.

8. Are client funds segregated from the broker's own funds?

If the broker uses your money for their own operations, the situation looks structurally like a loan you didn't agree to — and the broker pays themselves an implicit interest on it. Segregated accounts mean your money sits in a separate banking facility that the broker cannot touch for their own use.

9. Does the Broker certify Shariah compliance externally?

Some brokers have their Islamic accounts certified by recognized Shariah supervisory boards (AAOIFI-aligned scholars, Bahrain Shariah Review Bureau, etc.). External certification is not a guarantee — but it is a stronger signal than the broker's marketing claim alone.

10. Is there a maximum leverage cap?

Many scholars advise lower leverage (1:30 or 1:50) for Islamic accounts to reduce gharar. A broker that offers 1:1000 on its "Islamic" account has either misunderstood or doesn't care. Look for brokers that cap Islamic-account leverage at lower-than-standard levels.

11. What is the broker's stance on hedging and EAs?

Some brokerlar ban Expert Advisors (EAs) and hedging on İslami hesaplar. This is fine. Others permit them but treat them differently from standart hesaplar — sometimes adding extra fees. Understand the operational rules before funding.

12. What documentation will I receive on hesap opening?

Ask for the İslami hesap şartlar in writing before you sign. Read them. If the şartlar include any reference to interest, financing charges, or rollover compensation, the hesap is not what is being marketed. A clean İslami hesap agreement is short and explicit on the absence of these elements.