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Thobani Dlalda
Within 1 year

Does MFG offer a swap-free (Islamic) account for its traders?

Broker Issues
MFG
Account
Leverage
Platform
Instruments
06-15
United States
WikiFX
Reply

After thoroughly reviewing the available information, I did not find any mention of MFG (Mayfair) offering a swap-free or Islamic account option. As someone who values transparency around account types due to personal trading needs, this absence is critical. Swap-free accounts, which do not accrue or pay interest on overnight positions due to religious reasons, are an important feature for many traders, especially those following Shariah law. From my experience, regulated brokers usually make such offerings clear in their account descriptions, often due to their significance for certain client groups. The documentation and details provided on MFG's various individual, joint, and corporate accounts seem to focus on traditional structures without highlighting any special consideration for Islamic finance principles. Given this, I would urge anyone considering MFG with a specific need for swap-free trading to directly contact their customer service, as product offerings sometimes change or are available upon special request but not prominently advertised. Proceeding without this confirmation could result in unanticipated costs or non-compliance with your personal requirements. Ultimately, this lack of explicit information means I would exercise caution and seek direct verification before committing funds if swap-free arrangements are essential for you.

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