NPBFX 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.
NPBFX At a Glance
| Broker's Name | NPBFX |
| 🏛️ Headquarters | Saint Vincent and the Grenadines |
| 📅 Year Founded | 1996 |
| ⚖️ Regulating Authorities | Not Regulated |
| 🌐 Countries not accepted for trade | Canada, United States |
| 📌 Accounts | VIP account Expert account Master Account |
| ☪️ Islamic account (swap-free) | Yes |
| 📒 Demo Account | Yes |
| ✴️ Institutional Accounts | No |
| 👨🏼💼 Managed Accounts | No |
| ⬆️ Maximum Leverage | 1:1000 |
| 👉 Sign Up Bonus | No |
| 💰 Minimum Deposit | $10 USD / R160 ZAR |
| 💳 Spread | From 0.04 pips |
| 💳Fees | No Deposit or withdrawal fees |
| 💳 Deposit Options | Credit/Debit Cards WebMoney QIWI Wallet Yandex Money FasaPay Skrill Neteller Nganluong Bank Wire Transfer SEPA Local Transfers (Egypt, Middle East, Turkey) Local Bank Transfers for SEA |
| 💳 Withdrawal Options | Credit/Debit Cards WebMoney QIWI Wallet Yandex Money FasaPay Skrill Neteller Nganluong Bank Wire Transfer SEPA Local Transfers (Egypt, Middle East, Turkey) Local Bank Transfers for SEA |
| 📊 Platform Types | MetaTrader 4 ZuluTrade Myfxbook AutoTrade |
| 📶 OS Compatibility | Web, desktop, mobile devices |
| 📈 Tradable assets offered | Forex Metals Energies Indices Shares ETFS Cryptocurrency |
| 💬 Languages supported on Website | English, Indonesian, Malaysian, Vietnamese, French, Thai |
| 💬 Customer Support Languages | Multilingual |
| ⏲️ Customer Service Hours | 24/5 |
| 🔎 Open an Account | 👉 Click Here |
Min Deposit
USD 10
Regulators
IFSC
Trading Platform
MT4, ZuluTrade, Myfxbook, AutoTrade
Crypto
Yes
Total Pairs
38
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Choose your quick section of our NPBFX below.
NPBFX Islamic Account – 11 key point quick overview:
NPBFX At a Glance- NPBFX Overview
- What exactly is an Islamic Account?
- Why is interest discouraged or prohibited by Sharia law?
- What are the steps involved in opening an NPBFX Islamic Account?
- What are NPBFX’s spread costs on an Islamic Account?
- What other features does NPBFX’s Islamic Account have?
- NPBFX Customer Reviews
- NPBFX Pros and cons
- NBPFX Conclusion
- Frequently Asked Questions
NPBFX Overview
Established in 1996, NPBFX is a regulated STP and NDD broker with headquarters in Saint Vincent and the Grenadines. NPBFX’s client base consists of more than 200,000 registered traders from around the world.
NPBFX offers traders with a variety of tradable financial instruments spread across the following asset classes:
- Forex
- Metals
- Energies
- Indices
- Shares
- ETFS
- Cryptocurrency
NPBFX uses innovative, high-tech software as well as hardware to ensure that traders are provided with some of the best trading conditions. In addition to this, traders are also provided with a choice between three dynamic trading accounts, each with the option for a Swap-free or Islamic Account.
NPBFX sources its liquidity from a range of Liquidity Providers (LPs) such as tier-1 banks including Deutsche Bank, Citi, and several others. One of the unique benefits of the business model that NPBFX uses is that there is no conflict of interest and profits are made from slightly marked-up spreads.
What exactly is an Islamic Account?
An Islamic, or swap-free, trading account is one that is allowed by Islamic Sharia law. These accounts are based on the Islamic principle where interest is not applied to positions that are held open for longer than a trading day after the trading day has concluded.
Islamic Accounts are 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 on 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 interest, which is not allowed according to the Sharia law. This type of interest is seen as both unjust and exploitive gains pertaining to trade or business.
Why is interest discouraged or prohibited by Sharia law?
| 💠Financial Activities restricted & prohibited by Sharia law | 📈 NPBFX |
| 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 NPBFX Islamic Account?
1. Step 1 –Register a live account
Traders must first register for a live trading account on the NPBFX website. Traders can select the option to register from the homepage, complete the application, verify their identity, and proof of residence, and send a request to the relevant department of NPBFX.
Traders then send an email to convert to info@npbfx.com with the subject «Activation of the Free Swap account» and text of the letters: I, (your full name), want to activate the Swap-free option for my account (your trading account number of ).
2. Step 2 –Account conversion
Traders then send an email to convert to info@npbfx.com with the subject «Activation of the Free Swap account» and text of the letters: I, (your full name), want to activate the Swap-free option for my account (your trading account number of ).
3. Step 3 –Account verification
Email is sent to traders to confirm that the account has been converted to an Islamic account and traders can login and start trading.
What is NPBFX’s spread costs on an Islamic Account?
The spreads that traders can expect on their NPBFX Islamic Account will depend on the account that they convert. The typical spreads as per the different account types are as follows:
- Master Account – from 0.8 pips with an average of 1.2 pips
- Expert Account – from 0.6 pips and 1 pip on average
- VIP Account – from 0.4 pips and 0.8 pips on average
What other features does NPBFX’s Islamic Account have?
The features that traders can expect when they convert their live trading account to that of an Islamic Account will depend on the account type. However, some typical features that traders can expect include:
- Access to MetaTrader 4 on all devices, ZuluTrade, and Myfxbook AutoTrade
- Access to all tradable instruments
- Commission-free trading
- USD, EUR, or RUB as the base account currency and deposit currency
- Leverage from 1:200 up to a maximum of 1:1000
- The option to convert the account to an Islamic Account
- Market or Instant execution
- Automatic trading with the use of Expert Advisors (EAs)
- Hedging and telephone dealing allowed
- Access to the DowJones newsfeed
- Access to 24/5 customer support
- Access to all funding methods
- Stop-out level of less than 30%
NPBFX Customer Reviews
Good, but VERY, VERY long withdrawal process
I’m updating this review from 1 to 4 stars.
The withdrawal process is very very long, probably because I’m from EU. However, you guys should aware your customers of the situation.
Anyway, they offer very good services (crypto deposit), but their support is non-existent. Your dedicated agent helps a lot, but they do not have any information.
Future broker
A broker with a bright future
Profit No, MC Yess
Maybe that’s one of the principles or motto at NPBFX. Never trade on NPBFX.
You profit a lot, but definitely will not be paid. NPBFX has prepared its flagship weapon. I trade with the usual technique, do not trade balance or hedging. But they thought I had committed an offense. They don’t like clients making big profits. They are too sneaky and underhanded for a novice client like me. It is very clear they are brokers. Again, never trade on NPBFX if you want your profit to be safe.
NPBFX Pros and cons
| ✔️ Pros | ❌ Cons |
| Broker bonus and trading bonus offered | Referral bonus not offered |
| Tight Spreads | Limited financial instruments offered |
| Social trading supported | Offshore broker |
| Loyalty program offered for loyal customers | Sign-up and welcome bonus not offered |
| Low initial capital | Spreads are marked-up |
| Commission-free trading | Verification is complicated and time-consuming |
| Both NDD and STP broker model | Stock trading not offered |
| Demo account provided | US and Canadian clients not accepted |
| Real-time trading signals | Spreads are not the tightest |
| Choice in dynamic trading accounts | Withdrawal fees charged |
| Competitive trading conditions offered | Spreads are marked-up |
| Commission-free trading offered | Offshore regulation |
| Deposit fees are not charged | |
| Islamic account offered | |
| Variety of funding methods | |
| Several deposit currencies supported | |
| Deposit fees are not charged | |
| Low minimum deposit amount required | |
| MetaTrader 4 offered |
NBPFX Conclusion
Overall, NPBFX 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.
You might also like: NPBFX Account Types
You might also like: NPBFX Demo Account
You might also like: NPBFX Fees and Spreads
You might also like: NPBFX Minimum Deposit
You might also like: NPBFX Sign up Bonus
Min Deposit
USD 10
Regulators
IFSC
Trading Platform
MT4, ZuluTrade, Myfxbook, AutoTrade
Crypto
Yes
Total Pairs
38
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Frequently Asked Questions
How do you open a NPBFX Islamic account?
- Open a trading account with NPBFX by using the Sign in/Register options found in the Personal Cabinet. 2. Send an email request to NPBFX to request activation of the free swap account. 3. Receive email confirmation of the activation of your Islamic Swap-free account.
Can you trade cryptocurrencies with the NPBFX Islamic account?
Yes, cryptocurrency trading is available with this account
What spreads can be expected on the NPBFX Islamic account?
The spreads that can be expected on the Islamic account is as follows: On the Master account – from 0.8 pips with an average of 1.2 pips, On the Expert account – from 0.6 pips and 1 pip on average and On the VIP account – from 0.4 pips and 0.8 pips on average
Does NPBFX offer an Islamic Account?
Yes, NPBFX offers an Islamic Account option on all live trading accounts.
How do you make a deposit and withdraw money from NPBFX Islamic account?
- Credit/Debit Cards
- WebMoney
- QIWI Wallet
- Yandex Money
- FasaPay
- Skrill
- Neteller
- Nganluong
- Bank Wire Transfer
- SEPA
- Local Transfers (Egypt, Middle East, Turkey)
- Local Bank Transfers for SEA
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