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Global multi-asset CFD broker ACY Securities has announced a significant update to its Swap-Free account offering. The company has extended the period before an administrative fee is applied to these accounts from 2 days to 4 days, effective immediately.
Swap-Free accounts, also known as Islamic accounts, are designed to comply with Sharia law, which prohibits the earning or paying of interest. These accounts allow traders to hold positions for extended periods without incurring swap fees, which are typically charged for holding positions overnight.
Jimmy Ye, CEO, ACY Securities
Jimmy Ye, CEO of ACY Securities, explained the rationale behind this change: "Our focus has always been on creating a trading environment that best serves our clients' needs. By updating the time before the Swap-Free account is charged an administration fee from 2 days to 4 days, we're delivering added flexibility to traders. This adjustment to the Swap-Free Account is a direct result of listening to client feedback and our ongoing review of how we can best meet the needs of our traders."
This update provides traders with more time to manage their positions without incurring additional fees, potentially allowing for more extended trading strategies. It also keeps ACY Securities competitive in the CFD brokerage market, where such features can be a significant differentiator.
The change to the Swap-Free account follows other recent initiatives by ACY Securities to enhance its trading offerings. Earlier this year, the company launched LogixTrader, its proprietary trading platform, signaling a commitment to providing advanced tools and technology to its client base.
ACY Securities, which has been operating since 2011, is part of the larger ACYLogix group of companies. This group includes several related entities in the financial services sector, such as ACY Partners, ACY Advisory, ACY Connect, ACY Live, and Zerologix.
As brokers in the CFD and forex trading markets continue to compete for clients, brokers are increasingly looking for ways to accommodate diverse trading needs and preferences, including those of traders who follow Islamic financial principles.
To learn more about ACY Securities click on the link to their page on LiquidityFinder below or for more detail about ACY Securities' swap-free accounts, click here.
