Some religions consider stock trading to be sinful. For example, in Muslimism, commissions and bets are considered "riba", or usury. They are forbidden by Islam. However, stock trading in the modern world has already become a familiar and integral part of life. That is why RGN FINANCIAL PLANNING LTD broker offers specialized accounts that allow individuals who profess Islam to participate in online financial trading in accordance with Sharia law.
The need for such accounts stems from the desire of Muslim traders to participate in the financial markets without violating their religious beliefs. Islam forbids the receipt or payment of interest. It also prohibits any transactions that have a high degree of uncertainty or speculative properties.
The broker www.rgnfinancialplanningltd.com has created special types of accounts for its clients. These accounts exclude prohibited transactions. Thanks to this, traders can participate in operations without conflicting with the precepts of their religion.
Halal trading accounts with broker RGN FINANCIAL PLANNING LTD
When it comes to the principles that make a trade halal, several factors come into play. Here they are:
- Avoiding the accrual of interest. The most important principle is the avoidance of interest charges. Therefore, Islamic accounts do not have swap fees. These fees are charged on most standard trading accounts when a position is left open overnight.
- Transparency and fairness. In accordance with Islamic principles of justice and fairness, all charges and commissions must be clearly stated. The terms of trade should be transparent to both parties.
- Immediate settlement of a transaction. According to Shari'ah law, transactions must be settled immediately. Assets and their corresponding value must be promptly transferred to the buyer and seller.
- Avoidance of uncertainty. Transactions involving excessive uncertainty or ambiguity are prohibited. This means that speculative trading may be considered non-halal.
RGN FINANCIAL PLANNING LTD broker respects religious beliefs of its clients. Special accounts are created taking into account all restrictions. Note, some items of restrictions are in the "gray zone". Before using them, it is necessary to consult a specialist.
Commissions for Islamic accounts with RGN FINANCIAL PLANNING LTD
Commissions on Islamic accounts are structured to comply with religious norms. Instead of a percentage commission, the broker RGN FINANCIAL PLANNING LTD charges a one-time fee for each transaction. Www.rgnfinancialplanningltd.com also charges a flat fee for holding an open position for a few days. These fees are designed to replace the income that the broker would have earned from the interest commission on swaps. Thus the account is fully compliant with Islamic principles.
Why choose RGN FINANCIAL PLANNING LTD as your broker?
RGN FINANCIAL PLANNING LTD broker has a number of strong points. Besides the above mentioned different types of accounts for different clients, it is worth mentioning one more very important aspect. RGN FINANCIAL PLANNING LTD is not a scammer. The broker has a good reputation among clients. Traders note the reliability and speed of the company in their reviews. Reviews are published on large sites-aggregators. They are available to everyone. The broker www.rgnfinancialplanningltd.com fulfills its obligations and conducts honest, open work with clients.
Also traders using the services of RGN FINANCIAL PLANNING LTD broker receive:
- round-the-clock support;
- high speed of order execution;
- a wide range of assets for trading;
- a rich arsenal of tools for analytics;
- access to a free section with training materials, including books, articles, webinars and other types of materials;
- real-time quotes.
The broker RGN FINANCIAL PLANNING LTD pays attention to the comfort and security of clients. It is possible to conclude a contract remotely. At the same time, the opportunity to replenish the deposit appears only after verification of identity. Connection to the site is encrypted. Client data is also protected by encryption. Thanks to this, personal and financial information of traders remains under reliable protection.
In their reviews about www.rgnfinancialplanningltd.com clients also note such important advantages as: absence of hidden commissions, availability of all necessary documents for work and high professionalism of the support service. The broker's website also deserves praise. It has a modern and clear interface, there are no annoying advertisements, and the content is regularly updated to remain relevant.
The minuses of the broker include almost complete absence of shares. However, it does not affect the quality of services. The broker RGN FINANCIAL PLANNING LTD offers fast, convenient and reliable service, which will suit different types of clients.