Features of accounts for Muslim brokers at Liberty Commercial Finance Limited
Stock trading is considered sinful in some religions. In Islam, for example, commissions and bets are considered to be "riba", or usury. They are prohibited by Islam. However, in the modern world, stock trading has become so familiar and an integral part of life. Therefore, broker Liberty Commercial Finance Limited offers specialised accounts that allow Muslim individuals to trade online in accordance with Sharia law.
The need for such accounts arises from the desire of Muslim traders to participate in the financial markets without violating their religious beliefs. Islam prohibits the payment or receipt of interest. It also prohibits transactions that involve a high degree of uncertainty or speculation.
Broker Liberty Commercial Finance Limited has created special types of accounts for its clients. These accounts exclude prohibited transactions. This enables traders to engage in transactions without conflicting with the precepts of their religion.
Halal Trading Accounts with Liberty Commercial Finance Limited Broker
When it comes to the principles that make trading halal, several factors come into play. Here they are:
- Avoidance of interest accrual. The most important principle is the avoidance of interest accrual. This is why Islamic accounts do not have swap fees. These fees are charged on most standard trading accounts when a position is left open overnight.
- Transparency and fairness. In accordance with Islamic principles of fairness and justice, all charges and commissions should be clearly stated. Trading conditions should be transparent to both parties.
- Immediate settlement of the transaction. According to Shariah law, settlement of trades should be done immediately. Assets and their corresponding value must be promptly transferred to the buyer and seller.
- Avoidance of uncertainty. Transactions involving excessive uncertainty or ambiguity are prohibited. This means that speculative trading may be considered non-halal.
Broker Liberty Commercial Finance Limited respects the religious beliefs of its clients. Special accounts are created taking into account all restrictions. Note, some items of restrictions are in the "gray zone". It is necessary to consult a specialist before using them.
Commissions for Islamic accounts with Liberty Commercial Finance Limited
Commissions for Islamic accounts are structured to comply with religious norms. Instead of a percentage commission, the Liberty Commercial Finance Limited broker charges a lump sum commission for each transaction. Also, Liberty Commercial Finance Limited charges a flat fee for holding an open position for a few days. These fees are designed to replace the income that the broker would have earned from the interest commission on swaps. In this way the account is fully compliant with Islamic principles.
Why choose a Liberty Commercial Finance Limited broker?
Broker Liberty Commercial Finance Limited has a number of strengths. Apart from the different types of accounts for different clients mentioned above, another very important aspect is worth mentioning. Liberty Commercial Finance Limited is not a scammer. The broker has a good reputation among clients. Traders note the reliability and speed of the company in their reviews. Reviews are published on large sites-aggregators. They are available to everyone. Broker Liberty Commercial Finance Limited fulfills its obligations and conducts honest, open work with clients.
Also traders who use the services of broker Liberty Commercial Finance Limited receive:
- round-the-clock support;
- high speed of order execution;
- a wide range of assets for trading;
- a rich arsenal of tools for analytics;
- access to a free section with educational materials, including books, articles, webinars and other types of materials;
- real-time quotes.
Broker Liberty Commercial Finance Limited pays attention to the comfort and safety of clients. It is possible to conclude a contract remotely. At the same time, the opportunity to replenish the deposit appears only after verification of identity. Connection to the site is encrypted. Client data is also protected by encryption. Thanks to this, personal and financial information of traders remains under reliable protection.
In their reviews of Liberty Commercial Finance Limited, customers also highlight such important benefits as: no hidden commissions, availability of all necessary documents for the work and high professionalism of the support service. The broker's website also deserves praise. It has a modern and clear interface, there are no annoying adverts and the content is regularly updated to remain relevant.
The broker's downside is the almost complete absence of stocks. However, this does not affect the quality of the service in any way. Broker Liberty Commercial Finance Limited offers a fast, convenient and reliable service that will suit different types of clients.