Grand Capital offers Islamic swap-free trading for Muslim traders. 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.
Grand Capital At a Glance
| Broker's Name | Grand Capital |
| 🏛️ Headquarters | Russia |
| 📅 Year Founded | 2006 |
| ⚖️ Regulating Authorities | Financial Commission (FinaCom) |
| 🌐 Countries not accepted for trade | USA, Japan |
| 💳 Accounts | Standard MT5 Micro Crypto Swap Free ECN Prime |
| ☪️ Islamic account (swap-free) | Yes |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | No |
| 👨🏼💼 Managed Accounts | No |
| ⬆️ Maximum Leverage | 1:500 |
| 💰 Minimum Deposit | $10 / ZAR R160 |
| ✉️ Spreads | 0.4 to 1 pip |
| 💳 Deposit Options | Bank Windhoek, FNB Namibia, FNB South Africa, GTBank Nigeria, Paylivre Bank, YES Bank, E-Payments, Bitcoin, Ethereum, Tether |
| 💳 Withdrawal Options | Bank Windhoek, FNB Namibia, FNB South Africa, GTBank Nigeria, Paylivre Bank, YES Bank, E-Payments, Bitcoin, Ethereum, Tether |
| 📊 Platform Types | MT4, MT5, WebTrader |
| 📶 OS Compatibility | Mac, Microsoft Windows, Mobile, Web, iPhone |
| 📈 Tradable assets offered | Forex, CFDs, Indices, Futures, Commodities, Stocks, Cryptocurrencies, Metals, Energy commodities |
| 💬 Languages supported on Website | English, German, Spanish, French, Arabic, Indonesian, Malay, Polish, Portuguese, Russian, Vietnamese, Japanese |
| 💬 Customer Support Languages | English, German, Spanish, French, Arabic, Indonesian, Malay, Polish, Portuguese, Russian, Vietnamese, Japanese |
| ⏲️ Customer Service Hours | 24/7 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 10
Regulators
FinCom
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
50
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Grand Capital Islamic Account – 10 key point quick overview:
- Grand Capital At a Glance
- Grand Capital Overview
- What exactly is an Islamic Account?
- Which financial activities are restricted and prohibited by Sharia law?
- What are the steps involved in opening a Grand Capital Islamic Account?
- What are Grand Capital’s spread costs on an Islamic Account?
- What other features does Grand Capital’s Islamic Account have?
- Grand Capital Pros and Cons
- Grand Capital Conclusion
- Frequently Asked Questions
Grand Capital Overview
Grand Capital is a forex broker that has been in operation since 2006. The Grand Capital Group comprises two companies, both named Grand Capital Ltd, and are based in Kingston, St Vincent, and the Grenadines, and Victoria, Mahe, Seychelles.
Grand Capital is a recipient of 18 awards which include Best Forex Broker, Best ECN Broker, Best Trading Technologies, and a special award for Stability in Forex.
The broker offers two investment services, namely a copy trading platform RAMM and investment portfolios. RAMM is easy to use and does not require deep knowledge of trading. Investment portfolios are produced by the Analytics Department at Grand Capital and the product has an attractive profit rate.
Grand Capital offers trading in more than 330 financial instruments that include Forex (over 50 major and exotic pairs), stocks, indices (in 12 exchanges), metals (including gold and silver), energy commodities (WTI and Brent crude oil), and cryptocurrencies (over 68 pairs).
The broker is regulated and authorized through Serenity and the Financial Commission (Finacom), which are dispute resolution and compensation bodies. Finacom has assigned the broker with a category A certificate, which is the highest category of broker’s reliability. The regulator guarantees a compensation fund of up to $ 20 000 per client.
Grand Capital serves several regions and has over 40 locations globally, several of which are in Russia. The broker has recently opened a data center in Hong Kong and has a strong presence in Asia including offices in Myanmar, India, Malaysia, and Indonesia.
The group also has newly opened offices in Nigeria, Namibia, Kenya, and South Africa.
Customers from the United States and Japan are not accepted as clients at Grand Capital.
What exactly is an Islamic Account?
An Islamic Account is offered by most broker and is not seen as a standalone account, although some brokers, such as Grand Capital does dedicate one account to being an Islamic or Swap Free 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 the 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
- 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?
| 💠Financial Activities restricted & prohibited by Sharia law | 📈 Grand Capital |
| Overnight rollovers | 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 |
| Margin deposits and interest | the accrual of interest on funds that are deposited into the trading account |
| Loans | when followers of the Sharia law have funds transferred by either a bank or other financial institution and it involves interest terms |
| Trading on margin | stocks that are traded on margin result in the trader being liable for paying interest |
| Short sales | affects mostly shares and involves borrowing and subsequent sale of an asset |
| Forward sales | 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 Grand Capital Islamic Account?
1. Step 1 – Register an account
To open an Islamic Account with Grand Capital, traders can simply follow the registration process that applies to all live account types. It is a standalone account with its own features.
Simply navigate to the homepage of Grand Capital click on the ‘Open a real account’ and complete the online registration form.
2. Step 2 – Request for transfer
You will receive a confirmation email after which you can open the account type of choice which in this case will be the Islamic Swap-free Account.
What are Grand Capital’s spread costs on an Islamic Account?
The typical spread on the Islamic account starts at 1 pip.
What other features does Grand Capital’s Islamic Account have?
When making use of the Grand Capital’s Islamic account, traders can expect the following key features:
- Minimum deposit of $ 100
- Leverage of up to 1: 500.
- Trading on over 150 financial instruments.
- 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.
Global Capital Customer Reviews
Good Broker
Grand Capital is a good broker with the best cooperative staff. Easy deposit and withdraw.. with low spreads. Advice to join this broker. Fully guidelines to their customers…
Thanks…..
Quick and objective answer
Quick and objective answer! Congratulations
This is by far the best broker I have…
This is by far the best broker I have ever dealt with. Their customer support is superb, they are very fast to respond and their services and trading conditions are very flexible. I sure will tell everyone about Grand Capital… Kudos for a great job!
Grand Capital Pros and Cons
| ✔️ Pros | ❌ Cons |
| High amount of tradable assets | No direct phoneline support |
| Competitive fees | No Referral bonus offered |
| Advanced platforms | Withdrawal of profit only possible after reaching a specific trading volume |
| Regulated | It is not indicated for how long the demo account can be used |
| Low minimum deposit | Commission charged on Islamic account |
| Webinars and educational videos will be available soon | Spreads are not the tightest |
| Some promotions on offer for loyal customers | Charge deposit fees or withdrawal fees |
| Offers a sign-up, welcome or deposit bonus | |
| Demo account does not expire | |
| Demo account sign-up fully digital | |
| MetaTrader 4 and MetaTrader 5 offered | |
| Sign-up completed in minutes | |
| Islamic account offered | |
| Regulated through FinaCom and Serenity | |
| Variety of account types offered | |
| Variety of trading instruments | |
| Islamic Account/Swap-free provided for Muslim traders | |
| Transparent fee schedule |
Grand Capital Conclusion
Overall, Grand Capital offers traders with Islamic swap-free trading for Muslim traders. The Islamic forex trading environment is ideal for traders following strict sharia law with a fixed fee instead of a swap. The fee is not an interest and depends on the direction of the order.
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Frequently Asked Questions
Are Mulslim traders from South Africa allowed to open an Islamic account with Grand Capital?
Yes, South African Muslim traders are allowed to open a Grand Capital Islamic account.
Can cryptocurrencies be traded with the Grand Capital Islamic account?
Yes, trading of 68 cryptocurrencies such as Bitcoin and Ethereum is available.
Are there additional charges on the Islamic account?
Yes. Grand Capital charges commissions on most trades, but trades on the Micro account are free. The same commissions are charged as on the normal live account types
What are the spread costs for the Grand Capital Islamic account?
Spreads on the Islamic account starts from 1 pip.
Does additional rollover commissions apply to contracts held for longer than 24 hours?
Grand Capital does not apply additional rollover commissions on contracts that are held for more than 24hrs.
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