KVB Kunlun does offer an Islamic account for traders who follow the Sharia law. You can request an Islamic account after your account has been opened by contacting the support center.
KVB Kunlun at a glance
| Broker's Name | KVB Kunlun |
| 📍 Headquartered | Hong Kong |
| 📅 Year Founded | 2007 |
| ⚖️ Regulating Authorities | Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Securities Futures Commission (SFC), and the Financial Conduct Authority (FCA) |
| 🌐 Countries not accepted for trade | United States |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:200 |
| 💰 Minimum Deposit | $1 000 |
| 💳 Deposit Options | Credit/debit card, Bank wire, Telegraphic transfer |
| 💳 Withdrawal Options | Credit/debit card, Bank wire, Telegraphic transfer |
| 💻 Platform Types | MT4, ForexStar, KVB EFX Platform |
| 📱 OS Compatibility | Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad |
| 📈 Tradable assets offered | Forex and derivatives, precious metals, bulk commodities |
| 👨💼 Languages supported on Website | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Hindi, Hebrew, Arabic, and Russian |
| 👥 Customer Support Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Hindi, Hebrew, Arabic, and Russian |
| 📆 Customer Service Hours | 24/5, |
Min Deposit
USD 1,000
Regulators
ASIC, IIROC, SFC, FCA
Trading Platform
MT4, ForexStar, KVB EFX Platform
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
KVB Islamic account – 9 key points quick overview:
- ✔️KVB Kunlun 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 KVB Kunlun Islamic Account?
- What are KVB Kunlun’s spread costs on an Islamic Account?
- What other features does KVB Kunlun’s Islamic Account have?
- KVB Kunlun Pros and Cons
- Conclusion
- Frequently Asked Questions
KVB Kunlun Overview
KVB Kunlun is a forex broker that was founded in 2001 in Hong Kong.
KVB Kunlun is publicly traded on the Hong Kong Stock Exchange (HKSE) and regulated in four tier-1 jurisdictions – Australian Securities & Investment Commission (ASIC), Investment Industry Regulatory Organization of Canada (IIROC), Securities Futures Commission (SFC), and the Financial Conduct Authority (FCA), making it a safe broker for forex and CFDs trading.
KVB Kunlun is a wholly owned subsidiary of China’s largest investment bank, CITIC Securities since 2015. In 2017 it transferred its listing from the General Exchange Market (GEM) to the Main Board of the Hong Kong Stock Exchange. KVB Kunlun provides forex and CFD traders the popular MetaTrader 4 (MT4) platform which is branded as ForexStar, and proprietary software developed by its Banclogix division.
KVB Kunlun is expensive with little market research to offer. The parent company of KVB Kunlun – KVB Kunlun Holdings Limited, has wholly-owned financial institutions in Auckland, Sydney, Melbourne, Toronto, and Hong Kong. KVB Kunlun has established long-term cooperative relationships with many international well-known banks, exchanges and leading financial institutions and gathers financial experts from different countries in the world together to integrate multiculturalism.
The company serves independent traders, fund managers, professional asset management institutions, financial institutions in the Asia-Pacific region with a wide range of trading products, as well as one-stop services and financial software systems. KVB Kunlun divides its accounts by the type of investment, with only one account type for forex trading. KVB Kunlun does allow clients a choice between a Standard account and a Mini account as well as an Islamic Account.
What exactly is an Islamic Account?
Islamic accounts, known as swap-free accounts, are compliant with Sharia law because there is no swap or rollover interest on overnight positions, which is against the Muslim faith. Muslim clients can benefit from these same trading conditions and terms as regular trading account types, with the only difference having no swaps on trading instruments.
A handling charge may however apply. An Islamic Account may be a standalone account or an account option offered on regular accounts. Islamic Accounts are often provided by brokers who serve Middle Eastern clients and offer features that are in line with the Sharia law, which prohibits the accrual of interest on funds deposited into the account.
Another 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, namely Riba and Gharar. Riba is a concept that refers to increasing or exceeding growth, which forbids interest credited from loans or deposits. Gharar is an Arabic word associated with uncertainty, deception, and risk, which in modern finance include futures and options contracts, which have dates of delivery in the future.
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and prohibitions on Muslim traders when considering the intricate details involved with trading activities, the following may be affected or prohibited:
️ Overnight rollovers, because it involves the receiving of swap points on positions that are held open for longer after the trading day has concluded at the New York close at 17:00 EST, as is prohibited by the Sharia law.
️ Margin deposits and interest, because it involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
️ Loans is prohibited by the Sharia law as per the element of Riba. Followers of the Sharia law is prohibited from having funds transferred by either a bank or other financial institution and involving interest.
️ Trading on margin results in a trader being liable for paying interest, which also amounts to Riba and is prohibited by Sharia law, as money is borrowed from the broker to buy or sell such equities.
️ Short sales, which affect mostly shares and involves borrowing and subsequent sale of an asset, is prohibited.
️ Forward sales are affected. The trading of futures contracts 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 KVB Kunlun Islamic Account?
Traders who are eligible for an Islamic Account must probably complete the live account application and then state that they want to apply for the Islamic option. KVB Kunlun may also require certain additional documents, apart from proof of identity and residential address, before approving an application for an Islamic account.
What are KVB Kunlun’s spread costs on an Islamic Account?
To make up for money lost by not charging overnight fees, a broker like KVB Kunlun usually charge extra fees on Islamic accounts – either in administration fees, wider spreads, or additional commissions.
New Islamic traders should contact the broker’s customer service team to enquire about any special conditions or extra fees before joining, because it is often overlooked or not clearly indicated on the account features pages.
What other features does KVB Kunlun’s Islamic Account have?
When making use of the KVB Kunlun Islamic account, traders can expect key features like the following:
️ Interest is not charged on contracts which are held for more than 24-hours.
️ Accounts are activated with a required minimum deposit.
️ Some specific restrictions and limits may apply to the Islamic Account.
KVB Kunlun Pros and Cons
| ✔️ Pros | ❌ Cons |
| Broker is listed on the stock exchange | Average leverage are allowed |
| Islamic accounts are available | High spreads are offered |
| MT4 is offered as trading platform | Initial deposit to open an account is high |
| The broker is part of a global group | No real choice of trading platforms offered |
| The broker is well regulated |
Conclusion
Overall, KVB Kunlun does offer an Islamic account, the trading conditions are quite attractive and KVB Kunlun is not only a reputable broker, but one that caters for beginners as well as more advanced traders.
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Min Deposit
USD 1,000
Regulators
ASIC, IIROC, SFC, FCA
Trading Platform
MT4, ForexStar, KVB EFX Platform
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Frequently Asked Questions
Does KVB Kunlun offer an Islamic account?
Yes, an Islamic account is available from KVB Kunlun
What are the spread costs on the KVB Kunlun Islamic account, if any?
Traders have access to 5-digits spreads on the Islamic account, depending on the financial instrument traded, the time of day and other factors.
Is automated trading allowed on the KVB Kunlun Islamic account?
Yes, traders who use this account have access to Expert Advisors, allowing for automated trading.
Are there additional charges on the Islamic account?
KVB Kunlun does offer an Islamic Account and traders can expect extra fees on Islamic accounts – either in wider spreads, additional commissions, or administration fees to make up for money that they lose with not charging overnight fees.
New Islamic traders should enquire about these special conditions or extra fees before joining, because it is often overlooked or not indicated on the account features pages.
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