TIOmarkets offers an Islamic Account to traders of the Muslim faith, which can be opened as a swap-free version of any of the three swap-rated accounts with the same access to all the trading conditions, tools, and features.
TIOmarkets at a Glance
| 🔎 Broker's Name | TIOmarkets |
| 📍 Headquartered | Saint Vincent and the Grenadines |
| 📅 Year Founded | 2019 |
| ⚖️ Regulating Authorities | FCA |
| 🌐 Countries not accepted for trade | Belgium United States of America Democratic People’s Republic of Korea Afghanistan Iran Iraq Sudan Syria Palestine |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | No |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:30 for major currencies, 1:20 for minor currencies, 1:10 for commodities, 5:1 for indiviidual equities and other reference value |
| 💰 Minimum Deposit | Standard account $50 / R 850,33, VIP account $1000 / R 17 002, VIP Black $3000 / R 51 008 |
| 💳 Deposit Options | Visa Mastercard Bankwire, and SafeCharge |
| 💳 Withdrawal Options | Visa Mastercard Bankwire, and SafeCharge |
| 💻 Platform Types | MT4/MT5 |
| 📱 OS Compatibility | Windows, Mobile, Web, iPhone, iPad |
| 📈 Tradable assets offered | forex, stocks, indices and commodities |
| 👨💼 Languages supported on Website | Multi-language |
| 👥 Customer Support Languages | Multi-language |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit USD 50 Regulators FCA Trading Platform MT4, MT5 Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Yes, a TIOmarkets 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 a swap. The fee is not an interest and depends on the direction of the order.
Choose your quick section of our TIOmarkets Islamic Account below.
TIOmarkets Islamic Account – 12 key points quick overview:
TIOmarkets at a Glance- TIOmarkets Islamic Account – 12 key points quick overview:
- TIOmarkets Overview
- What exactly is an TIOmarkets Islamic Account?
- Which financial activities are restricted and prohibited by Sharia law?
- What are the steps involved in opening a TIO Markets Islamic Account?
- What are TIO Markets’ spread costs on an Islamic Account?
- What other features does TIOmarkets’ Islamic Account have?
- TIOmarkets Customer Reviews
- TIOmarkets Pros and Cons
- Conclusion
- Frequently Asked Questions
Here is our overview of the TIOmarkets Islamic Account as well as the features that are offered, when opening a Swap Free Certified Muslim Trading Account.
TIOmarkets Overview
TIO Markets, an STP broker headquartered in the United Kingdom, has been in operation since 2019 and offers traders a more unique approach to trading. TIO Markets offers traders subscription-based account types that can be used to trade in any of the following markets:
Forex
Stocks
Energies
Indices
Metals
TIO Markets offers competitive trading conditions in addition to supporting the use of MetaTrader 4 and MetaTrader 5 through which trades can be executed seamlessly. TIO Markets uses a network offering ultra-low latency, ensuring that traders can enter and exit trades within a matter of milliseconds.
It also ensures that traders have access to some of the best possible prices, minimal requotes, and slippage when they trade with TIO Markets.
What exactly is an TIOmarkets 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 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 the 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.
Margin deposits and interest – which involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
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.
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 TIOmarkets Islamic Account?
To convert a live trading account to that an Islamic Account, traders must first register for either of the following accounts:
VIP Account
VIP Black Account
Signature Account
Standard Account
What are TIOmarkets’ spread costs on an Islamic Account?
The spreads that traders can expect when converting a live trading account with TIO Markets will depend on the account type that traders choose to convert. However, there is no information available on which account type can be converted.
Thus, depending on the account type that can be converted, traders can expect variable spreads that start from 0.0 pips.
What other features does TIOmarkets’ Islamic Account have?
When considering that there is no indication of the account type that is available for conversion to the Islamic Account, or whether all four accounts can be converted, the specific account features cannot be provided. However, traders can expect the following advantages when they trade with TIO Markets:
Raw spreads, as well as zero-cost trading conditions, are offered to VIP Black Clients.
shield, which adds insurance to trade, ensures that traders can be refunded if the markets move against them within 60 minutes from when they opened a trade.
Access to inner-circle webinars.
Risk consultation pertaining to any trading matters is provided by an in-house financial expert.
In addition, there are also typical account features that traders can expect that are available regardless of the account type traders can choose, these features are:
Maximum leverage up to 1:200 and up to 1:500 on request.
Zero fees on deposits and withdrawals.
Fast Withdrawals.
Fast trade execution.
A risk-free demo account is offered.
Access to more than 120 tradeable financial instruments.
Dedicated and responsive customer support.
Negative balance protection is offered.
Min Deposit USD 50 Regulators FCA Trading Platform MT4, MT5 Crypto Yes Total Pairs 0 Islamic Account Yes Trading Fees Low Account Activation 24 Hours
TIOmarkets Customer Reviews
TIOmarkets has proven to be the best…
Tiomarkets has proven to be the best among the rest. The trade idea share is amazing and the customer relationships are far beyond excellence. Thank you TIOmarket for bringing financial breakthroughs to our doorsteps. Keep the good work going.
The most on-point trading ideas I’ve seen
I’ve topped into the trades that were given on the telegram group and they were all a success. I would definitely recommend, in fact, that I have invited some of my friends to join the telegram group.
Very good
Hello, TIOmarkets are the best broker that u can deal with in the trading market. Very professional, always helping and giving the best support to their customers. My favorite guy over there is Christian he is such a gentleman and a helper. He made me trust this company and the only company that I work with because of him specially.
TIOmarkets Pros and Cons
| ✔️ Pros | ❌ Cons |
| Well-regulated | US clients not allowed |
| VIP Black Account offered | Limited financial instruments offered |
| Zero deposit or withdrawal fees | Limited account funding options supported |
| Fast withdrawals guaranteed | Spreads are not the tightest in the industry |
| Powerful trading platforms offered | Social platform not integrated |
| Demo Account offered | High subscription fees |
| Islamic Account option provided | |
| Competitive trading conditions | |
Conclusion
Overall, TIOmarkets offers an Islamic Account to traders of the Muslim faith, which can be opened as a swap-free version of any of the three swap-rated accounts with the same access to all the trading conditions, tools, and features.
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Frequently Asked Questions
Does TIOmarkets offer Swap-free accounts?
Yes. We offer our Islamic clients Sharia accounts.
What spreads are offered on TIOmarkets Islamic accounts?
This will depend on the type of account converted to an Islamic account. Expect tight spreads, low commissions and maximum leverage.
What is the maximum leverage for the TIOmarkets Islamic account?
The maximum leverage is up to 1:200. It can go up to 1:500 upon request.
Is TIOmarkets a recommended forex trading broker for experts and beginners?
Yes, TIO Markets is suitable for both beginner and expert traders, but the subscription fees may be too high for most beginners.
Can traders from South Africa open a TIOmarkets Islamic account?
Yes, South African traders of the Muslim faith are allowed to open a TIOmarkets Islamic account
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