You read a topic on FXOptimax - fxoptimax.com within the Forex Trading forums, part of the Investments category; Originally Posted by Melon What is the special benefit in ...
Muslims do not receive or pay interests so it is obvious that the non swap accounts would hold a key advantage to them. They can trade without disobeying their religion.Originally Posted by Melon
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Okay, now I got it. So, Muslims doesn't give interest, they doesn't get interest. And with FXOptimax, they can trade without disobeying their religion. I think we should respect everyone's religious belief. FXOptimax is an ideal platform for Muslims as they support the swap free account which Muslims need.
By the way, who has webmoney? I have got a client who don't want to receive rebate in liberty reserve. I need to exchange liberty reserve to webmoney with low fees. Around $400 is needed.
Investors follows traders in zulutrade. So if they choose good traders then it is profitable for them.
For traders, they have to collect followers by showing good trading results. They get commission from each investor who are following him.
In other words their support consists in paying/receiving interests for muslims. Is it ethical for muslims to ask someone else to do something that is prohibited according to their religious belief?? Its the same like saying that killing is not allowed in my religion but I can ask someone else to kill someone for me...
That is not suitable for conservative investors as the risk involved in following the right zulu trader in the right period of time is higher than the risk of using their own trading strategy with a proper risk management plan.
Are you really sure with what you said? Because this is a very sensitive issue and I don't want to discuss it anymore as it may hurt others religious belief.In other words their support consists in paying/receiving interests for muslims. Is it ethical for muslims to ask someone else to do something that is prohibited according to their religious belief?? Its the same like saying that killing is not allowed in my religion but I can ask someone else to kill someone for me...
That is not suitable for conservative investors as the risk involved in following the right zulu trader in the right period of time is higher than the risk of using their own trading strategy with a proper risk management plan.
WOw! You are against Zulutrade too. So, may I ask if you will ever keep your money in the bank? Because your bank can also get bankrupted and it is more secure to keep your money in your house rather than keeping it in your bank.
A trader if can't select a good zulutrade trader by analyzing his past performance, how you can expect that he will be able to properly analyze the forex market?
Risk is everywhere. You set how much risk you will take and in which field. Personally I found FXOptimax very promising to help traders getting profit. They provide free signal, offers the highest number of money managing opportunities so that traders who are not confident enough/search variation can get profit.
Well, I am an IB and you may find me biased. But if you trade with this broker, you will not be able to file a complain. You can try!
Last edited by Melon; 08-03-2012 at 09:06 PM.
I'm respecting other religious belief and I've just asked if it is ethical or not the swap free service in which islamic friendly brokers offer to replace the daily interest payments by charging a small daily service fee for positions held overnight. In my view its just like a Murabaha variant to convert a loan into a service...
Did I said that I am against zulutrader?? I've said its not the best investment option for conservative investors. And yes I have most of my savings in a bank which is top 10 in the world ranking so if it goes to bankrupcy all world economies will suffer a big finantial crisis... Its not a good idea to withdrawal funds desesperatly and put it in your house as the number of thieves are increasing during the global crisis times. And good banks will never disappear because any economy needs banks to give enough liquidity to keep the businesses activities running well.
Analysing a forex market is different than analysing a zulutrader performance. Trading by yourself is different and can be much more profitable than trusting someone else just by looking into a past performance showed in monitoring tables.
The reason that I didn't trade for real in this broker is that is not attractive neither can be competitive comparing to other FSA & MIDI EU brokers which offer lower fixed and floating spreads, no deposit fees for skrill deposits, no fees for bank wire withdrawals in EU, more competitive swaps, an optional swap free service for muslims and non muslims. Fxoptimax charge fees for Skrill deposits, negative swaps for most trading intruments, spreads are not very competitive... It can be a good broker for muslims and for some asian people but not the best option for european traders and I guess they don't want to gain clients from Europe.
It is too hard for me to tell what they want and what they don't want. But FXOptimax was the best micro broker of Asia 2011. So, definitely Asia is a prime focus of FXOptimax.
Why did the conversation between melon and felipe stop.
I was enjoying it
It mostly depends on individual differences. There are many people that might decide that they will still use swaps irrespective of their religion.
I personally believe that it is a matter of personal choice.
So why they have customers support languages like portuguese & spanish if they are not focused in giving competitive and attractive trading conditions for residents of such countries??
It really makes no sense and it would be better to offer other asian countries languages if their prime focus is in asia...
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