ISLAMIC ACCOUNTS

In order to open a live Islamic account, Muslim clients must complete a simple online application form and provide the requested ID documents.

As soon as our accounts team opens your live Nanotechs Islamic trading account, clients can initiate their first deposit by simply going to our secure Client Portal. The Client Portal allows the client to choose their preferred deposit method.

We have separate accounts which never mingle with conventional funds. All clients funds are held in a segregated account with Australia’s AA rated National Australian Bank (NAB).

Nanotechs clients can request withdrawal of their funds anytime by accessing their Client Portal and lodging a withdrawal request. All withdrawal requests are processed once a day around 1pm AEST. Any withdrawal request received after 1pm Sydney time is automatically processed the following business day around 1pm AEST.

All Muslim clients who use a Nanotechs Islamic account will be charged Standard STP spreads and the daily administration fee.

Nanotechs charges Standard STP spreads or Raw ECN spreads on all Islamic accounts.

There are no swap or interest charges. We charge an admin/agency (Wakeel) fee justifiable for administration related expenses to manage your account.

The client places the trade and Nanotechs transfer the trade to a liquidity provider. This means that the client’s trade always has an effect on supply/demand as it is a position in the real market. Clients can be assured that they are trading real prices and affecting prices via supply demand with their own positions. The client is always responsible for the effect that his order has on the underlying market. Positions, even small during times of low liquidity, can move the market. The client has full ownership of his trade and its effect.

In order to provide fair and transparent access to global markets, Nanotechs has to pass on the costs associated with maintaining their open positions. All our liquidity providers charge certain fees to keep positions open and this cost is passed onto clients via the daily Administration fee.

Nanotechs calculates all administration fees exactly at 0:00 platform time on all open positions on all Islamic accounts. The administration fee itself is then applied at 1:00am platform time.

Nanotechs guarantees absolute transparency in trading. Whether you trade Forex, Commodities or Indicies, with our Islamic account you can be assured that all our pricing comes directly from Liquidity Providers, and thus be assured your trading and trading exposure are real; a basic requirement that makes our Islamic account Shariah compliant.

If a broker does not use LP’s to access the interbank market then they are a market maker and there is a direct conflict of interest between broker and trader. The account balances of all these different currency denominations are held within our segregated bank account. In our case this is with the National Australia Bank (NAB). These funds then allow the client to trade up to 50 currency pairs via our liquidity providers. Yes there is always possession and we serve on your behalf as agent (Wakeel) to take possession on your behalf. This is also known as A-Book broker model.

Nanotechs doesn’t provide any loan to clients. Nanotechs provides margin trading where all trade financing is provided by Liquidity Providers who then charge Nanotechs Administration Fee.

The Administration fee is then passed onto clients via MT4 platform.

Nanotechs offers a legitimate service for which they can charge fees. There is no substitute for interest or swap charges as in conventional accounts.

The relationship between Nanotechs and the client is that of Wakalah/agency. Nanotechs being the agent that manages the accounts and charges an Administration fee based on a signed mandate. The relationship between the liquidity providers and Nanotechs is that of Qardh (Loan) which is managed under a signed mandate by Nanotechs. The account holders do not sign a mandate with the liquidity provider and have an agreement only with Nanotechs. The actual trading is referred to as Bay al-Sarf (currency trading).

At Nanotechs we are fully committed to delivering the first officially certified Islamic account. We have worked alongside well known shariah scholars including Sheikh Hasan Qamra, Chairman of the Shariah Board and follow his strict requirements in order to receive official certification which proves that Nanotechs account is fully Shariah compliant.

We have a competent Shariah board who will answer your queries. You can contact: Shariah@vantagefx.com. Only email queries pertaining to Shariah matters will be attended to.

All Forex Currency Pairs – Clients charged/credited a daily administration fee for forex positions held overnight.*

All Indices – Clients charged/credited a daily administration fee for Indices positions held overnight.*

CHINA50 – Clients charged/credited a monthly cash adjustment for positions held over the change of contract.

All Futures Based Products including the CHINA50 – Clients charged/credited a monthly cash adjustment for positions held over the change of contract.

• o OIL
• o HO
• o GAS
• o COPPER
• o NG
• o CHINA50

* Daily Fee Calculation:
– Calculated at 0:00 server time.
– Applied at 1:00 server time.