Spotware System has announced supports for Islamic account as their new development. This support is fully compliant to Shariah law and featuring it's functionality of fast market executions and interbank connectivity while eliminating Swap (rollover interest for held position overnight) from their platform.
Features of Swap-Free cTrader Account
Spotware promises convenience for Moslems to engage in trading activities according to respective broker conditions and promotions without worries of extra spread or commission.
If the brokerage adds extra fee for position holding beyond grace time, the administration will be fully transparent and visible on cTrader interface.
Spotware's Head of Business Development, James Glyde commented, "After extensive research along with the help and support of our clients we have been able to create and introduce a Shariah Compliant, Swap Free account type which allows cTrader brokers to offer trading accounts to their Islamic clients. This functionality is available from cTrader natively. Thanks to the detailed feedback of our clients and their local representatives for the Middle Eastern region this functionality is already in line with the majority of our client’s policies, meaning they will be rolling out Swap Free cTrader accounts in no time."
More addition of features are also worth noting; support of cServer 4.3 to enhance risk management on NDD Solutions which include instant margin recalculation for open positions, maximum exposure limit for each available symbol, and ticket size increments configuration.
List of Brokers with cTrader Availability
Spotwares' cTrader are mainly available to accounts with No Dealing Desk system (NDD) which supports connectivity to interbanks. Swap-Free account for these kind of trading platform would surely make a huge help in favor of Islamic traders, especially if they're swing traders or position holders whose holding position would last for days.