TradeATF 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.
TradeATF at a Glance
| 🔎 Broker's Name | TradeATF |
| 📍 Headquartered | Belize City, Belize |
| 📅 Year Founded | 2013 |
| ⚖️ Regulating Authorities | IFSC |
| 🌐 Countries not accepted for trade | The United States and Canada |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1: 500 |
| 💰 Minimum Deposit | $ 250 / R 4183,78 |
| 💳 Deposit Options | MasterCard Maestro Visa Skrill Neteller VPay Trustly Bank Wire Transfer |
| 💳 Withdrawal Options | MasterCard Maestro Visa Skrill Neteller VPay Trustly Bank Wire Transfer |
| 💻 Platform Types | MetaTrader4 and WebTrader |
| 📱 OS Compatibility | PC, Mac, Linux, web browsers, Android, iOS |
| 📈 Tradable assets offered | Forex Stocks Indices Metals Cryptocurrencies Commodities |
| 👨💼 Languages supported on Website | English, Portuguese, Spanish |
| 👥 Customer Support Languages | English, Portuguese, Spanish |
| 📆 Customer Service Hours | 24/5 |
| 🚀 Open an Account | 👉 Click Here |
Min Deposit
USD 250
Regulators
IFSC
Trading Platform
MT4, WebTrader
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
TradeATF Islamic Account – 12 key points quick overview:
TradeATF at a Glance- TradeATF Islamic Account – 12 key points quick overview:
- TradeATF Overview
- What exactly is a TradeATF Islamic Account?
- Which financial activities are restricted and prohibited by Sharia law?
- What are the steps involved in opening a TradeATF Islamic Account?
- What are TradeATF’s spread costs on an Islamic Account?
- What other features does TradeATF Islamic Account have?
- TradeATF Customer Reviews
- TradeATF Pros and Cons
- Conclusion
- Frequently Asked Questions
TradeATF Overview
Trade ATF is an award-winning broker that was founded in 2013 and offers traders access to global markets. Its headquarters are in Belize City, Belize.
The TradeATF brand is operated by Bayline Trading Limited which is regulated by the Belizean International Financial Services Commission (IFSC) under License No. IFSC/000188/250.
The website of Global TradeATF is legitimate and offers services under the purview of guidelines and set parameters of international standards. The operating company of the broker Bayline Global World Ltd. bears a registration and has a registered office in Edinburgh, United Kingdom.
The broker offers trade execution at the best possible prices and at the best possible execution speeds. Traders can upgrade their portfolios by trading CFDs on more than 750 assets.
Despite being a young company, TradeATF has already gained the trust of 10 000+ traders all over the world. The broker offers the widest variety of assets’ CFDs for your most profitable investments.
The broker has no commissions or hidden charges and offers innovative tools, educational materials, trading strategies, and full access to the leading and preferred MetaTrader4.
In addition, traders can enjoy zero fees and commissions, 24/5 customer support, and news alerts.
The broker makes ample provision for the beginner trader through various educational tools and well as makes provision for the more advanced trader through excellent research tools. It does, however, not seem to offer a demo account.
The one drawback is that TradeATF only offers assets on a CFD basis. Customers from the United States, Canada, and some other jurisdictions are not accepted as clients at TradeATF.
What exactly is a TradeATF Islamic Account?
An Islamic Account, for the greater part as offered by most brokers, is not a standalone account, although some brokers dedicate one account to being an Islamic or Swap Free account, in most cases.
Islamic Accounts are also provided by brokers who serve Middle Eastern clients and clients from other jurisdictions and offer certain features that are in line with Sharia law, which prohibits the accumulation 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.
Two key elements of Islamic law 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?
Due to the restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following usually applies:
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.
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, 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.
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.
Short sales – which affects mostly shares and involves borrowing and subsequent sale of an asset, which is prohibited.
What are the steps involved in opening a TradeATF Islamic Account?
Islamic Swap-Free accounts are only offered to clients of Islamic faith, and it is subject to TradeATF’s approval.
Step 1 – Log in
Traders who are eligible for an Islamic Account must first complete a live account application on one of the live accounts that they would like to convert into an Islamic Account.
There may be certain documents, apart from proof of identity and residential address, that TradeATF may require before approving an application for an Islamic account.
Min Deposit
USD 250
Regulators
IFSC
Trading Platform
MT4, WebTrader
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
What are TradeATF’s spread costs on an Islamic Account?
This information is only available for traders who have approved Islamic accounts, but it can be assumed that spreads on the Islamic Account will be the same as the spreads offered on the live account originally opened.
Spreads will also depend on the financial instrument, the time of day, and several other factors.
What other features does TradeATF Islamic Account have?
When making use of the TradeATF Islamic account, traders can expect the following key features:
The minimum deposit requirement is $ 250
Interest is not charged on contracts that are held for more than 24 hours as there is a consistent zero rollover interest
There are no additional rollover commissions where contracts are held for longer than 24 hours
Traders have access to 5-digit spreads
Direct execution of trades
TradeATF Customer Reviews
These people are very professional
These people are very professional, offer commission-free trading, and have a wide range of assets available and I am really happy to trade with Tradeatf. Recommended Tradeatf.
TradeATF is a reliable platform…
TradeATF is a reliable platform regulated by CySEC. A wide range of assets available, and also has many educational materials, Quick transactions with decent earnings.
Tradeatf offers a wide range of…
TradeATF offers a wide range of learning materials and commission-free trading. Great trading site for all. Suggested!!!
TradeATF Pros and Cons
| ✔️ Pros | ❌ Cons |
| MetaTrader4 offered | Clients from the United States and Canada not accepted |
| Offers a demo account | No demo account indicated |
| Offers research tools | No tight spreads offered |
| Regulated through IFSC | No tight spreads |
| Segregated client funds used | |
| Swap-free account provided | |
| Trading in over 750 assets | |
| Various educational tools offered | |
| Zero commission charges |
Conclusion
Overall, TradeATF 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
How many instruments can I trade with TradeATF?
You can trade the following financial instruments:
- Forex
- Stocks
- Indices
- Metals
- Cryptocurrencies
- Commodities
What spreads can I expect with TradeATF?
You can expect floating spreads that start from 0,3 pips depending on which account you choose.
Does TradeATF charge a commission?
No TradeATF does not charge a commission.
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 on TradeATF’s website. Islamic accounts, however, have spreads that are consistent with the live account that was originally opened.
What is the overall rating out of 10 for TradeATF?
6/10.
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