Yes, Blackwell Global offers an Islamic account for Muslim faith traders including a swap-free account. The Islamic forex trading environment is ideal for traders following strict sharia law with a fixed fee, the fee is not an interest and depends on the direction of the order.
Blackwell Global at a glance
| Broker's Name | Blackwell Global |
| 📍 Headquartered | London, United Kingdom |
| 📅 Year Founded | 2010 |
| ⚖️ Regulating Authorities | FCA (UK)- 687576 SFC (Hong Kong) - No. BGX 296 BGX 460 BJU094 SECC (Cambodia)- 005. SCB (Bahamas) - SIA-F215 |
| 🌐 Countries not accepted for trade | United States, Belgium |
| 📒 Account Types | ECN Account Standard Account Premium Account Turbo Account Professional Account |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:400 |
| 💰 Minimum Deposit | $500/R8 000 ZAR |
| 💳 Deposit 7 Withdrawal Options | Bank Transfers Debit cards Credit Cards Neteller Skrill Bitcoin |
| 💳 Sign up Bonus | None |
| 💻 Platform Types | MetaTrader 4, Infinitum |
| 📈 Tradable assets offered | Forex Commodities CFDs Crypto |
| 📱 OS Compatibility | Desktop, web, Android, iOS |
| 👨💼 Languages supported on Website | English, German, Spanish, Hungarian, and Arabic |
| 👥 Customer Support Languages | English, German, Spanish, Hungarian, and Arabic |
| 📆 Customer Service Hours | 24/5 |
| 📌Open an account | 👉 Click Here 👈 |
|---|
Min Deposit USD 500 Regulators FCA, SFC, SECC, SCB Trading Platform MT4, MT5 Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Blackwell Global Islamic Account Revealed -A Key 11-Point Overview
- ✅Blackwell Global at a glance
- ✅Blackwell Global Overview
- ✅What exactly is a Blackwell Global Islamic Account?
- Which financial activities are restricted and prohibited by Sharia law?
- What are the steps involved in opening a Blackwell Global Islamic Account?
- What are Blackwell Global’s spread costs on an Islamic Account?
- What other features does Blackwell Global’s Islamic Account have?
- Customer Reviews
- Blackwell Global Islamic Account Pros and Cons
- Conclusion
- Frequently Asked Questions
Here is our overview of the Blackwell Global Islamic Account as well as the features that are offered, when opening a Swap Free Certified Muslim Trading Account.
Blackwell Global Overview
According to research in South Africa, Blackwell Global is headquartered in the UK and has established offices in 8 different destinations. Blackwell’s history starts in 2010 when it started out as an online trading specialist in New Zealand. Today, Blackwell prides itself on its commitment to being the most trusted financial provider offering products such as Forex, Indices, Cryptos, and commodities that include Gold and Oil. Blackwell has a presence in more than 90 countries, and it is also a multi-award-winning trading provider which caters to traders who have different levels of experience.
In 2016, with the launching of a brokerage in the UK, Blackwell’s reach covered the markets in Europe, South America, and the Middle East.
A Blackwell Global Islamic Account for Muslim faith traders including a swap-free account is offered. The Islamic forex trading environment is ideal for traders following strict sharia law with a fixed fee instead of swap. The fee is not an interest and depends on the direction of the order.
What exactly is a Blackwell Global Islamic Account?
Islamic Accounts are also provided by brokers who serve Middle Eastern clients along with clients from other jurisdictions and offer certain features that are in line with Sharia law, which prohibits the accrual of interest on funds deposited into the account.
The other important feature of an Islamic Account is that transactions must be settled immediately, requiring that currencies be transferred from one account to the other right after the transaction has been completed and therefore paid for in full. There are two key elements of Islamic law that relate specifically to trading accounts, these elements are: Riba and Gharar
Riba is the prohibition of generating money from money, which in this case specifically refers to an interest, which is not allowed according to Sharia law. This type of interest is seen as both unjust and exploitive gains pertaining to trade or business.
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following are affected greatly:
| ☪️️ Overnight rollovers | which involve the incurrence or receiving of swap points on positions that are held open for longer after the trading day has concluded at the New York close at 5 PM EST which is prohibited by the Sharia law. |
| ☪️️ Loans | when followers of the Sharia law have funds transferred by either a bank or other financial institution and it involves interest terms, this is prohibited by the Sharia law as per the key element, Riba. |
| ☪️️ Margin deposits and interest | which involves the accrual of interest on funds that are deposited into the trading account, which is prohibited. |
| ☪️️ Trading on margin | stocks that are traded on margin result in the trader being liable for paying interest, which amounts to Riba, as money is borrowed from the broker to buy or sell such equities, and which is prohibited by the Sharia law. |
| ☪️️ Short sales | which affects mostly shares and involves borrowing and subsequent sale of an asset, which is prohibited |
| ☪️️ Forward sales | which affects forward contracts as well as the trading of futures contracts which involves the buying and selling of contracts at a future date according to a price agreed upon on the day of entering such a contract. |
What are the steps involved in opening a Blackwell Global Islamic Account?
📒 Islamic Swap-Free accounts are only offered to clients of Islamic faith and it is subjected to Blackwell Global’s approval. Traders interested in applying for an Islamic/Swap-free Account need to contact customer support.
What are Blackwell Global’s spread costs on an Islamic Account?
Blackwell Global does give some information on the specifications of the Swap-free accounts but more detailed information is only available for traders who have approved Islamic accounts. spreads start at o.o pips.
What other features does Blackwell Global’s Islamic Account have?
Interest is not charged on contracts that are held for more than 24-hours. There is a consistent zero rollover interest. There are no additional rollover commissions where contracts are held for longer than 24-hours. Before registering an account, traders should ensure that they contact the Middle Eastern support desk to find out more regarding such restrictions and/or limits.
In the event, you are unable to maintain sufficient funds in your account after hitting Margin Call, and if your account value depreciates to the Stop Out level, your positions will be closed automatically to prevent further loss to your capital. At Blackwell Global, the Stop Out level is set at 80%.
When making use of Blackwell Global’s Islamic account, traders can expect the following key features:
| 🔍 Broker | Blackwell Global |
| 📒 Account | Islamic account |
| 💳 Minimum deposit | No minimum deposit |
| 💰 Spreads | 0.0 pips |
| 💰 Commission | No commission |
| 📌 Open an account | 👉 Click Here |
Blackwell Global Customer Reviews
Quick easy and easy sign-up
Quick easy and easy signup. Was encouraged to give MT5 a go after working for so long running my EAs through MT4. After a month of re-calibration from MT4 to MT5 I was given Raw Spreads and 1:200 Leverage to monitor my performance which proved successful. Overall this has been a very positive experience, so i’m unsure of any negative reviews. Highly recommend – Antonis
Great customer support
Great customer support, customized trading conditions, and fast execution times! – Daniel
a good broker with which to work…
a good broker with which to work quietly spread competent, good communication with their advisors, also has cryptomonads, something interesting in the times that we are. – Toni
Min Deposit USD 500 Regulators FCA, SFC, SECC, SCB Trading Platform MT4, MT5 Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Blackwell Global Islamic Account Pros and Cons
| ✔️ Pros | ❌ Cons |
| Commission-free trading offered | Clients from the United States and Belgium not accepted |
| MetaTrader 4 offered | A limited number of payment methods offered |
| No deposit or withdrawal fees charged | Few trading instruments offered |
| Regulated through FCA | |
| Segregated client funds used | |
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Conclusion
Blackwell offers a diverse portfolio of trading instruments along with a reliable and convenient trading option for traders around the world. There is also the provision of innovative technology and a very high level of customer support.
Frequently Asked Questions
Trading environment
How many instruments can I trade with Blackwell Global?
You can trade the following financial instruments:
- Forex
- Commodities
- CFDs
- Crypto
Which platforms are supported by Blackwell Global?
MetaTrader 4 and Infinitum.
Does Blackwell Global offer leverage?
Yes. Leverage of up to 1:400.
What spreads can I expect with Blackwell Global?
ECN spreads starting from 0.7 pips for EUR/USD and standard spreads around 1.8 pips for the same pair.
Does Blackwell Global charge commission?
No commissions are charged with the standard account, but on the ECN account commissions are charged at $4.50 per lot each way.
It is unclear whether Islamic account holders are subjected to the same commission charges. Traders must verify this information with the broker as it is not stated on the website.
Are there additional charges on the Islamic account?
Not that can be seen from Blackwell Global’s website.
Is Blackwell Global regulated?
Yes. Blackwell Global is regulated by FCA.
Is Blackwell Global a recommended forex trading broker for experts and beginners?
Yes. Blackwell Global offers a trading environment for both beginners and expert traders.
What is the overall rating out of 10 for Blackwell Global?
6/10.
Accounts
What is the difference between a demo and live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does Blackwell Global offer a demo account?
Yes. The broker does offer a demo account that has the same features as the live account.
For how long is the demo account valid?
The demo account is valid for 30-days.
Does Blackwell Global offer an Islamic Account?
Yes. Blackwell Global offers an Islamic Account for traders of the Muslim faith.
What are the most popular forex pairs to trade with Islamic accounts?
EUR/GBP, GBP/AUD, GBP/NZD, GBP/USD, AUD/NZD and more
Which live trading accounts does Blackwell Global offer?
Blackwell Global offers a Standard Account, ECN Account, Islamic or Swap-free account and a Pro Account where traders can register as professionals.
What are the available deposit currencies for a live trading account?
- EUR
- USD
- GBP
Deposits and withdrawals
What is the minimum deposit for Blackwell Global?
$500.
How do I make a deposit and withdrawal with Blackwell Global?
- Bank Transfers
- Debit cards
- Credit Cards
- Neteller
- Skrill
- Bitcoin
Does Blackwell Global charge withdrawal fees?
No. However, traders should take note that fees from financial institutions may apply.
How long does it take to make a withdrawal?
This will depend on the payment method used. Transfers through credit/debit card and digital wallets is processed within 24 hours. Bank wire transfers takes up to 5 days.
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