FX Broker ActivTrades Wins the “Le Fonti Forex Broker of the Year Award”

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Leading Broker ActivTrades Wins Le Fonti Forex Broker of the Year Award for the Second Time

, one of the world’s leading online Forex Brokers, has won the Le Fonti Forex Broker of the Year Award for the second year running.

ActivTrades was awarded at the Le Fonti Awards (Photo: Business Wire)

ActivTrades was awarded at the Le Fonti Awards (Photo: Business Wire)

A UK-regulated firm with offices in Europe and the Middle East, ActivTrades was selected as the winner by the editorial staff of over 120 journalists at Le Fonti, the international and independent media company and research center.

Le Fonti credited the broker for “aiming to maximize its clients’ trading through a unique mix of superior value proposition, diverse product offering and stellar customer service“. Le Fonti’s judges added that ActivTrades offers “some of the tightest spreads in the industry” and a “wide range of professional webinars

ActivTrades specializes in providing industry-leading trading services in Forex and Contracts for Difference.

As part of the company’s ongoing commitment to protect its global customer base, ActivTrades doubled its client insurance in September to £1 million, at no additional cost to the customer. This upgraded protection provides further assurances to clients with significantly larger investments.

Ricardo Evangelista, International Desk Manager at ActivTrades, said, “Our corporate values center on the needs of our clients and it is hugely satisfying to have our efforts recognized for the second year running

In times of rapid industry changes, we pride ourselves on going the extra mile for our clients. Our global customer base of over 50,000 is increasing year-on-year and in the third quarter of 2017 we recorded nearly 20,000 active traders. This is a testament to our ability to meet the market’s expectations as well as our ongoing commitment to expand and add value to our services

A highly anticipated celebration uniting the world’s leading corporate stars, the Le Fonti Awards recognizes industry leaders in fields such as finance, banking, business, and insurance.

ABOUT ACTIVTRADES

ActivTrades is a leading independent broker providing online trading services in Forex, Contracts for Difference (CFDs) and Spread Betting, operating since 2001. From its headquarters in London and its offices in Milan, Sofia and Dubai, ActivTrades serves an expansive global clientele who, over the years, have come to value its continuous innovation, excellent trading environment and effective risk management.

ActivTrades’ award-winning customer service is available 24 hours a day, Sunday evening through to Friday, and assists clients in 14 languages via phone, email and live chat.

A number of globally recognized awards have confirmed ActivTrades’ high standards over the years in areas like customer service, client protection and trading execution. The firm was also included in the Sunday Times Profit Track 100 list in 2017 for its large profit growth.

All leveraged products carry a high degree of risk to your capital and are not suitable for all investors.

ActivTrades PLC is authorized and regulated by the Financial Conduct Authority, registration number 434413.

The ActivTrades Excess of FSCS Insurance is subject to the Terms and Conditions of the policy wording; eligibility to the Financial Services Compensation Scheme depends on the nature and status of the claim.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171120005576/en/

 

Islamic finance transaction broadens investor base for the Africa Finance Corporation

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Forex Islamic account

*This content is sponsored by RMB, a diversified financial services brand encompassing investment banking, fund management, private wealth management and advisory services.

by Ebrahim Moolla*

In 2016, the Africa Finance Corporation (AFC), a pan-African multilateral lender based in Nigeria, sought to raise financing at competitive pricing levels in a bid to help it fund a number of new infrastructure projects in Africa. It also aimed to diversify its investor base in the process. This objective was achieved through the successful issue of a Murabahah Sukuk.

At the time of the issue, Andrew Alli, AFC president and chief executive said: “The core values of Islamic finance and the need to invest ethically in assets that have a tangible positive social impact, made a Sukuk issuance a natural choice for us. We offer global investors the chance to be involved in high-impact infrastructure projects that not only promote social and economic development across Africa but also generate economic returns for our investors.”

Ebrahim Moolla, RMB

The AFC initially sought to raise US$100 million, but upsized its issuance on the back of strong demand from international investors to $150 million and was still oversubsribed. AFC was able to attract investor interest from Asia, an important part of the bank’s bid to diversify its investor base. Close to two-thirds (63%) of the notes were placed with accounts based in the Asia Pacific region, 23% with accounts in the Middle East, 15% with accounts in Africa and 1% in accounts based elsewhere.

Emirates NBD Capital, a Dubai-based investment bank, Mitsubishi UFJ Financial Group, a Japanese financial services group, and Rand Merchant Bank acted as joint bookrunners and joint lead managers with Emirates NBD Capital also acting as the sole global coordinator.

The innovative solution was structured as a Murabahah Sukuk backed by Shari’ah Compliant cash flows. For this deal to be classified as being Shari’ah compliant, it needed to be reviewed and approved by a Shari’ah Advisory Committee (SAC). This approval was obtained by the Emirates NBD Shari’ah Council and reviewed by the FNB Islamic Banking SAC which houses the SAC that has world-renowned and accredited scholars as members. The SAC is mandated to look after all Shari’ah related issues across the FirstRand Group. A Sukuk al-Murabahah is a Sukuk that is structured based on the contract of Murabahah (cost-plus sale).

Sukuk are defined by the Accounting and Auditing Organisation for Islamic Financial Institutions as certificates of equal value representing undivided shares in the ownership of tangible assets, usufructs and services or (in the ownership of) the assets of particular projects or special investment activity.

A Murabahah contract is an agreement whereby the seller sells to a customer a commodity or an asset, which the seller has purchased and acquired based on a promise received from the customer to buy. The selling price comprises the cost plus an agreed profit margin.

Murabahah Sukuks are generally short term in nature with tenors between two to four years. They are a suitable product for new issuers to use as an entry point to attract targeted investors while allowing the issuer to establish a presence in this market and the opportunity to build a track record which can be used when issuing longer dated Sukuks. According to the Sukuk Perceptions and Forecast Report 2017, these types of Sukuks were the second most used in terms of structure type, valued at around $11 billion, and can play a key role in tapping much needed funds in the future as well as allow for the issuer to diversify its funding base.

The AFC Sukuk demonstrates the possibilities that can be achieved using the right partner who understands the client’s funding needs and objectives and, at the same time, delivers a product that is inclusive in allowing investors requiring a Shari’ah compliant return to meet their objectives simultaneously.

This transaction was awarded the 2017 Deal of the Year in the category Islamic Finance in Africa by The Banker magazine.

  • Ebrahim Moolla is Islamic banking/finance specialist at Rand Merchant Bank
Growth of Islamic finance:Islamic finance is one of the fastest growing segments of financial opportunity in the world The Islamic Finance Economy had an estimated $ 2 trillion is assets in 2015, with  Islamic banking responsible for $1.4 trillion, the Takaful (insurance) sector for $38 billion, Sukuk (bonds) at $342 billion, Islamic funds at $66 billion, and other financial institutions $106 billion. Islamic funds and Sukuk led year-on-year growth at 15% and 14%, respectively. Takaful was close behind with a growth rate of 11%, while Islamic banking experienced more modest growth of 6%.

Total Islamic finance assets are expected to reach $3.5 trillion by 2021, a CAGR of 12%, with Islamic banking responsible for most of this growth, and projected to reach $2.7 trillion in assets by 2021.

How to select the right Islamic Forex Broker for you?

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Forex Islamic account

Choosing a Forex broker is something every new trader has to do at one point or another. This can be tricky if you do not know where to look or how to filter our the Forex scams out there. If you are looking to open an Islamic Forex account, finding an Islamic Forex broker is no easier.

What do I mean when I say Islamic Forex broker? To understand the meaning of an Islamic Forex account, you need to know some basic laws of Islam, also known as Sharia law. Among many other laws, one of the most fundamental laws when it comes to doing business with Muslims is the prohibition for a Muslim to take interest of any kind.

The Islamic religion believes that anything given or taken should be free of interest, which would indicate that the reasons behind the transaction were not pure. What this means when it comes to an Islamic Forex account is that rollover fees, for example, are strictly prohibited.

What are rollover fees? Forex trades, in theory, are supposed to be closed at the end of every trading day. If a trader leaves his positions open overnight, they need to pay rollover fees, which are interest payments that are generated when a position is left open overnight. Based on Sharia law, this type of payment is forbidden, and therefore Islamic Forex accounts are free of rollover fees.

To find an Islamic Forex broker, simply see their website or description of their service and see if they offer support for Islamic Forex account. Look into the broker at hand and verify that they have a presence in the social media, which would also indicate that they have the Islamic account in mind.

Finding an Islamic Forex broker is really no different than looking for a regular Forex broker. Some things you should look out for include good customer support, a competitive Forex trading platform and spreads, top trading features, and most importantly, positive reviews from past users. Once you have identified all those factors in a Forex broker, see if the broker supports Islamic Forex accounts, and you got yourself a winner.

Forex And Islam – The Rules & Requirements Of Islamic Forex Trading

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Forex Islamic account

The Forex market is quite a diverse trading arena. There are many different brokers, many different platforms, and many different schools of thought when it comes to Forex trading. One example of how diverse the Forex market really is, are the Islamic Forex trading accounts. While Islamic Forex is not what it sounds like and anyone can open an account with Islamic Forex brokers, it does go to show how the industry takes all demographics into consideration.

So if anyone can sign up with Islamic Forex brokers, what makes them Islamic accounts? Well, basically, Islamic Forex account is like any other regular trading accounts minus the interest payments that accompany most Forex trading accounts. Let’s back up a little.

According to Islamic law, the collection or payment of interest of any kind is strictly prohibited. Sharia law believes and dictates that Muslims should be giving for the sake of giving and not to receive something in return.

When it comes to Forex trading, this across the board prohibition of interest, affects certain aspects such as rollover fees. Rollover fees are interest payments that the trader pays when he/she leaves their positions open overnight. When opening an Islamic Forex account, these payments are waved.

While that might seem like a major selling point that would appeal to all traders, Islamic Forex brokers have been known to balance out that appeal with other disadvantages such as higher spreads than the regular Forex account.

In reality, many brokers we have all heard of, are also Islamic Forex brokers, which basically means that one of the many types of account they offer alongside a mini account, a micro account, a demo account, and others, is an Islamic Forex account.

Besides the advantage of not paying interest in an Islamic Forex account, the rest is pretty much the same. When choosing an Islamic broker, you still need to check out their customer support, put their trading platform to the test, and see how their trading features compare to the competition. The only thing is that Islamic Forex trading adds other criteria you want to look for. Most Islamic brokers will publicize this feature and if not, you can always ask if it is supported. A strong Middle East presence is also a good indication that a broker supports Islamic Forex accounts.