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1-2 years

Does EGM Securities offer a swap-free, or Islamic, account option to its traders?

Broker Issues
EGM Securities
Platform
Account
Leverage
Instruments
08-27
United States
WikiFX
Reply

Based on my thorough review of EGM Securities using the available details, I have not found any clear or explicit mention of a swap-free or Islamic account option. As someone who has traded with numerous brokers, I consider the presence of transparent information about account types—especially those tailored for specific religious or ethical concerns—a key marker of a trustworthy broker. EGM Securities highlights many features, such as access to MT4 and MT5, a variety of tradable instruments, a competitive leverage offering, and a welcome bonus. However, I could not find any specifics about Islamic or swap-free accounts in their provided documentation or summary materials. This lack of transparency raises a caution flag for me, especially considering that EGM Securities is unregulated and has a “suspicious regulatory license” according to broker evaluations. Without clear regulatory oversight, I prefer to be cautious when considering any platform, and the absence of openly advertised Islamic account options may not meet the needs of traders with those requirements. For traders needing swap-free accounts, it is important to request explicit confirmation from the broker’s customer support before opening and funding an account, as assumptions could lead to unnecessary complications or costs. In my experience, it’s always safer to choose brokers who clearly display such critical account details and hold robust regulatory licenses.

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