Islamic Account

Terms for opening Islamic type accounts

The terms for opening Islamic type accounts (MT4 Fixed Islamic, MT4 NDD Islamic, and MT4 NDD No Commission Islamic) by FIBO Group, Ltd. (hereafter referred to as the "Company") for its clients (hereafter referred to as the "Client") are:
 

1. A distinctive feature of trading on MT4 Fixed Islamic, MT4 NDD Islamic, and MT4 NDD No Commission Islamic accounts is the absence of interest income, specifically:

   • There is no fee for carrying an open trading position overnight.

2. The Company charges a commission from the Islamic type accounts once a week in the amount of:

   • $100 per standard lot for currencies

   • $200 per standard lot for metals

   • The commission in USD per standard lot for cryptocurrencies is specified in the 

     table:

     btc	350
     bch	20
     eth	45
     ltc	8
     etc	2
     zec	12
     dash	8
     xmr	8
     xrp	2

   • The commission in USD per standard lot for US Stocks is specified in the

     table:

     S.AAPL	52
     S.ADBE	150
     S.AMZN	52
     S.BA	54
     S.BAC	11
     S.BRK.B	121
     S.C	17
     S.CAT	103
     S.CMCSA	12
     S.CSCO	14
     S.CVX	45
     S.DAL	13
     S.DIS	34
     S.EA	38
     S.EBAY	15
     S.FOXA	9
     S.GE	50
     S.GM	12
     S.GOOGL	43
     S.GS	115
     S.HPQ	8
     S.IBM	56
     S.INTC	12
     S.JNJ	45
     S.JPM	57
     S.KO	17
     S.LLY	224
     S.MCD	82
     S.META	146
     S.MMM	31
     S.MSFT	123
     S.NEM	10
     S.NFLX	182
     S.NKE	29
     S.NVDA	262
     S.ORCL	37
     S.PEP	50
     S.PFE	8
     S.PG	47
     S.PM	27
     S.PRU	33
     S.PYPL	19
     S.SBUX	27
     S.TSLA	51
     S.UPS	45
     S.V	84
     S.VZ	11
     S.WFC	16
     S.WMT	18
     S.XOM	33

   This commission is charged overnight from Wednesday to Thursday on all trading positions that are not closed at the time of the order transfer (approximately 00:00 EET).

3. The Company reserves the unconditional right to close any Islamic type account to any Company client at any time without prior notice. In such cases, the Company may at its discretion:
   • Decide to close all open positions on the Islamic type account of such a client; and
   • Charge any due swaps to the Company, both current and previously transacted on Islamic type trading accounts. 
   All accounts of type MT4 Fixed Islamic, MT4 NDD Islamic, and MT4 NDD No Commission Islamic of such a client are then transferred by the Company to the group of trading accounts MT4 Fixed, MT4 NDD, and MT4 NDD No Commission respectively. 

Opening an Islamic account automatically implies that the Client has read and agrees to these terms.