Agsmarkets.com Review

Based on checking the website Agsmarkets.com, it presents itself as an online trading platform offering Contracts for Difference CFDs on various markets, including Forex, Metals, Indices, Energies, and Cryptocurrencies.

However, from an ethical standpoint, especially considering Islamic finance principles, engaging with such platforms that deal in CFDs, leverage, and interest-based mechanisms is generally impermissible.

The core issue lies in the speculative nature of CFDs, the involvement of Riba interest through overnight financing, and the element of Gharar excessive uncertainty or risk inherent in highly leveraged trading.

Here’s a summary of the review:

• Overall Recommendation: Not Recommended.
• Reasoning: Involvement in CFD trading, leverage, Riba interest from spreads and overnight financing, and excessive Gharar uncertainty, all of which are impermissible in Islamic finance.
• Key Services Offered: CFD trading on Forex, Metals, Indices, Energies, and Cryptocurrencies. Copy Trading. Automated Trading.
• Account Types: Basic, Pro, and VIP accounts with varying minimum deposits and features.
• Platforms: cTrader Desktop, iOS, Android, Web & Mac.
• Ethical Compliance Islamic Finance: Fails to comply due to the nature of its offerings.

While Agsmarkets.com highlights features like zero commissions, tightest spreads, and multiple platforms, these are standard offerings in the speculative trading world.

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The platform facilitates activities that are fundamentally at odds with ethical financial practices as guided by Islamic principles.

Instead of engaging in such high-risk, interest-laden ventures, it’s far more beneficial and permissible to explore real asset-backed investments, ethical business ventures, and Shariah-compliant financial instruments.

Here are some better alternatives for ethical financial growth and asset management:

• Amanah Ventures: A platform focusing on ethical, Shariah-compliant investment opportunities in real estate and other asset-backed ventures. They prioritize tangible assets and avoid interest.
• Wahed Invest: An online halal investment platform offering diversified portfolios that are screened for Shariah compliance. They invest in ethical stocks, sukuk Islamic bonds, and gold.
• Zoya App: A mobile application that helps Muslims screen stocks for Shariah compliance, allowing users to build an ethical portfolio based on real assets and avoiding haram industries or interest-bearing instruments.
• Halal Investing Resources: Instead of direct platforms, consider educating yourself through books and resources on halal investing. Knowledge empowers you to make informed decisions for long-term, permissible wealth building.
• Ethical Crowdfunding Platforms: Explore platforms that facilitate ethical crowdfunding for small businesses and real-world projects, allowing you to invest in tangible ventures without involving interest.
• Physical Gold and Silver: Investing in physical gold and silver is a time-tested method of wealth preservation and is permissible in Islam as it involves tangible assets.
• Real Estate Investment Trusts REITs – Shariah Compliant: Look for REITs that specifically adhere to Shariah principles, focusing on income-generating real estate without forbidden activities or excessive debt.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Agsmarkets.com Review & First Look

Agsmarkets.com positions itself as a comprehensive online trading platform, offering Contracts for Difference CFDs across a wide array of financial instruments.

From the outset, the website emphasizes “ZERO COMMISSIONS” and “TIGHTEST SPREADS,” aiming to attract traders with promises of cost-effective execution.

They boast access to over 300 markets, including popular categories like Forex, Metals, Indices, Energies, and Cryptocurrencies.

The immediate impression is that of a modern, well-structured trading hub, designed for active participants in the financial markets.

Understanding the Business Model

The core of Agsmarkets.com’s offering revolves around CFD trading. A CFD is a financial contract that pays the differences in the settlement price between the open and closing trades. This means you’re speculating on the price movement of an underlying asset without actually owning the asset itself. This fundamental aspect is crucial when evaluating the platform from an ethical perspective, particularly concerning Islamic finance. Smartwill.app Review

Initial Observations on Transparency

While the website provides details on account types Basic, Pro, VIP, spreads, and leverage, deeper financial disclosures such as regulatory licenses beyond a general mention of GDPR compliance are not immediately prominent on the homepage. Transparency regarding regulatory oversight is a cornerstone for any reputable financial institution, and its absence on a quick scan can be a red flag. Furthermore, the explicit promotion of “leverage up to: 1/200” is a significant point of concern. Leverage, while magnifying potential gains, also magnifies losses, introducing a high degree of risk and uncertainty.

Agsmarkets.com Offerings: A Deeper Dive

Agsmarkets.com offers a suite of trading instruments and tools, all centered around the cTrader platform.

Their focus is on providing various ways for users to engage with speculative markets.

Forex Trading

• Description: Agsmarkets.com facilitates CFD trading on various Forex pairs, allowing users to speculate on currency price movements. The website highlights features like “reduced forex trading costs.”
• Concerns: Forex CFD trading involves Riba interest through overnight swap rates charged or paid for holding positions, and Gharar excessive uncertainty due to high leverage and speculative nature. It’s not about exchanging currencies for tangible goods or services but betting on their future price.

Metals and Energies CFDs

• Description: The platform enables trading CFDs on precious metals like gold and silver, and energy commodities such as WTI and Brent crude oil. This again is about speculating on price changes without actual ownership or physical exchange.
• Concerns: Similar to Forex, trading CFDs on metals and energies involves Riba and Gharar. Islamic finance emphasizes trading real, tangible assets, and avoids synthetic instruments where ownership is not transferred.

Indices and Cryptocurrencies CFDs

• Description: Agsmarkets.com extends its CFD offerings to global stock indices and popular cryptocurrencies like Bitcoin, Ripple, Ethereum, Dash, and Litecoin.
• Concerns: Indices CFDs are derivatives of derivatives, adding layers of complexity and uncertainty. While some cryptocurrencies might be permissible in principle if they represent a real asset or utility, trading them via CFDs again brings in the issues of Riba and Gharar due to leverage and speculative intent. This further complicates the permissibility from an Islamic finance standpoint.

Agsmarkets.com Pros & Cons Focus on Cons for Ethical Review

When evaluating Agsmarkets.com, particularly through an ethical lens informed by Islamic finance principles, the “cons” heavily outweigh any perceived “pros.” The very nature of the services offered inherently conflicts with fundamental Islamic financial guidelines.

Significant Cons for Agsmarkets.com:

• Involvement in Riba Interest:
  • Overnight Swaps/Financing Charges: CFD trading often involves overnight financing charges, which are a form of interest Riba. Even “zero commission” platforms may incorporate these costs into spreads or direct financing fees. Riba is strictly prohibited in Islam, as it is considered unjust gain.
  • Implicit Interest in Spreads: While advertised as “zero commissions,” tight spreads can still contain an element of implicit interest, especially if the broker profits from the time value of money or from the bid-ask spread itself being a form of unearned income from a specific perspective.
• Excessive Gharar Uncertainty/Risk:
  • CFD Nature: Trading CFDs involves speculating on price movements without actual ownership of the underlying asset. This introduces a high degree of uncertainty, as the outcome is based purely on market fluctuations rather than a tangible exchange of goods or services.
  • High Leverage: Agsmarkets.com advertises leverage up to 1:200. While this can amplify profits, it also magnifies losses exponentially. This extreme risk profile, where a small market movement can wipe out an entire investment, is considered excessive Gharar and is generally impermissible. Islamic finance emphasizes risk sharing and asset-backed investments, not pure speculation.
• Maysir Gambling:
  • Speculative Intent: The primary purpose of CFD trading on Agsmarkets.com is speculation on market prices, rather than investment in underlying productive assets. This speculative nature, driven by the hope of quick gains from price fluctuations, strongly resembles gambling, which is strictly forbidden in Islam.
  • Lack of Tangible Asset Exchange: The absence of physical delivery or ownership transfer in CFD trading reinforces its gambling-like characteristic.
• Lack of Clear Regulatory Information on homepage: While the website mentions GDPR compliance, a prominent display of financial regulatory licenses from globally recognized bodies e.g., FCA, CySEC, ASIC is crucial for a broker. Its absence on the main page raises questions about the level of oversight and investor protection.
• Potential for Financial Loss: Due to the high leverage and volatile nature of the markets traded, there is a significant risk of losing invested capital. Statistics from regulatory bodies consistently show that a high percentage of retail CFD accounts lose money. For instance, data from ESMA European Securities and Markets Authority in 2018 indicated that 74-89% of retail investor accounts lose money when trading CFDs. This aligns with the inherent risk associated with such instruments.

Agsmarkets.com Alternatives

Given the ethical concerns with Agsmarkets.com’s offerings from an Islamic finance perspective, it is crucial to seek out genuinely ethical and permissible alternatives for wealth management and investment. Keybuildingworks.com Review

These alternatives focus on real assets, ethical business practices, and avoid interest, excessive uncertainty, and speculative gambling.

Here are seven excellent alternatives that align with Islamic financial principles:

1. Amanah Ventures

   • Key Features: Focuses on Shariah-compliant real estate investments, offering equity-based opportunities instead of interest-based loans. Prioritizes tangible asset ownership and revenue sharing.
   • Average Price/Investment: Varies depending on the project, typically requires minimum investment sums for specific real estate deals.
   • Pros: Direct investment in real assets, avoids Riba, promotes ethical development, potential for stable, long-term returns.
   • Cons: Less liquid than public market investments, requires deeper due diligence on specific projects, geographical limitations might apply.

2. Wahed Invest

   • Key Features: An online halal investment platform providing diversified portfolios managed according to Shariah guidelines. They screen investments for ethical criteria and exclude forbidden industries e.g., alcohol, tobacco, gambling, conventional finance. Investments include ethically screened stocks, Sukuk Islamic bonds, and gold.
   • Average Price/Investment: Minimum investment typically around $100, with varying management fees based on portfolio size.
   • Pros: Fully Shariah-compliant, diversified portfolios, easy-to-use platform, accessible for various investment levels, professional management.
   • Cons: Limited customization of individual holdings within portfolios, management fees apply, returns are tied to market performance of selected assets.

3. Zoya App Vspharma.xyz Review

   • Key Features: A mobile application that provides real-time Shariah compliance screening for individual stocks. Users can check if a stock meets Islamic investment criteria based on business activities and financial ratios.
   • Price: Free basic access, premium subscription for advanced features e.g., extended screening, portfolio tracking.
   • Pros: Empowers individuals to build their own Shariah-compliant stock portfolios, transparent screening methodology, educational resources, regularly updated data.
   • Cons: Requires users to actively manage their own brokerage accounts, does not offer investment advice or direct trading, solely a screening tool.

4. Halal Investing Books/Courses

   

   • Key Features: Comprehensive guides and educational materials on the principles of Islamic finance, ethical investing strategies, and practical advice for building a Shariah-compliant portfolio. Examples include “Islamic Finance: A Practical Guide” or “Halal Investing for Dummies.”
   • Average Price: $15-$50 per book or course.
   • Pros: Builds foundational knowledge, empowers informed decision-making, promotes self-sufficiency in financial planning, applicable to various investment avenues.
   • Cons: Requires self-discipline to study and apply, not a direct investment platform, information needs to be regularly updated with market changes.

5. Ethical Crowdfunding Platforms e.g., LaunchGood for Social Enterprise

   • Key Features: Platforms that facilitate crowdfunding for ethical social enterprises, small businesses, and community projects. While not strictly an investment platform in the traditional sense, some offer profit-sharing or equity-based models for specific ventures, avoiding conventional interest. Focuses on impact investing.
   • Average Price/Investment: Varies widely, from small donations to larger investment commitments in specific projects.
   • Pros: Supports ethical businesses and social causes, direct impact, potential for moral and financial returns, promotes community development.
   • Cons: Higher risk as projects are often startups, less liquidity, returns may be variable or long-term, not all projects offer financial returns.

6. Physical Gold and Silver

   • Key Features: Direct purchase and holding of physical precious metals like gold bars, coins, or silver bullion. This is considered a permissible way to preserve wealth and hedge against inflation, as it involves tangible assets.
   • Average Price/Investment: Varies by market price of gold/silver and quantity purchased.
   • Pros: Tangible asset, historically stable store of value, permissible in Islam, acts as inflation hedge, offers portfolio diversification.
   • Cons: Storage costs and security risks, less liquid than cash, no income generation dividends or interest, price fluctuations can occur.

7. Shariah-Compliant Real Estate Investment Trusts REITs Bootybuilder.com Review

   • Key Features: Publicly traded companies that own, operate, or finance income-producing real estate. Shariah-compliant REITs specifically ensure that the underlying properties and their activities are permissible e.g., no alcohol sales, gambling operations and that the REIT’s debt levels meet Islamic guidelines.
   • Average Price/Investment: Can be bought like stocks through a brokerage account, prices vary per share.
   • Pros: Exposure to real estate market without direct property ownership, potential for regular dividends income, diversification, relatively liquid compared to direct property, Shariah-compliant.
   • Cons: Subject to market fluctuations, dependent on real estate market performance, due diligence required to ensure true Shariah compliance, dividends are not guaranteed.

How to Avoid Agsmarkets.com and Similar Platforms

Avoiding platforms like Agsmarkets.com, which facilitate speculative trading and Riba, is essential for individuals committed to ethical financial practices.

This involves understanding their business models, recognizing red flags, and proactively seeking Shariah-compliant alternatives.

Recognizing Red Flags in Trading Platforms:

• CFD and Leverage-Based Offerings: Any platform primarily promoting Contracts for Difference CFDs and high leverage e.g., 1:100, 1:200 should be approached with extreme caution. These instruments are designed for speculation rather than real investment.
• Promises of “Guaranteed” or “High” Returns: Be wary of platforms that promise unrealistic or guaranteed high returns, especially in short periods. Legitimate investments involve risk, and returns are never guaranteed.
• Lack of Clear Regulatory Information: A reputable broker will prominently display its regulatory licenses and affiliations with recognized financial authorities e.g., FCA, ASIC, CySEC, FINRA. If this information is obscure or missing, it’s a major red flag.
• Complex or Opaque Fee Structures: While Agsmarkets.com touts “zero commissions,” watch for hidden fees, wide spreads, or complex overnight financing charges that can eat into capital and may be a disguised form of interest.
• Emphasis on “Passive Income” from Copy Trading/Bots: While these tools exist, their promotion as a guaranteed path to wealth without active involvement can be misleading, especially when tied to speculative instruments. They often carry significant risks and performance is not guaranteed.

Educating Yourself on Islamic Finance:

• Understand Riba Interest: Grasp why Riba is forbidden and how it manifests in modern financial products e.g., loans, credit cards, derivatives, and sometimes even in spreads or fees if structured unethically.
• Learn About Gharar Uncertainty and Maysir Gambling: Recognize the characteristics of excessive uncertainty and gambling in financial transactions. High leverage, short-term speculation, and contracts without tangible underlying assets often fall into these categories.
• Identify Shariah-Compliant Investments: Focus on investments backed by real assets e.g., real estate, ethical businesses, commodities like gold, equity-based financing Musharakah, Mudarabah, and instruments like Sukuk Islamic bonds that represent ownership in tangible assets or projects.

Proactive Steps:

• Seek Islamic Financial Advisors: Consult with financial professionals who specialize in Islamic finance. They can guide you towards permissible investments and help you structure your finances ethically.
• Utilize Shariah Screening Tools: Use applications like Zoya or other Shariah screening services to verify the compliance of stocks and other financial instruments before investing.
• Prioritize Real Economy Investments: Shift focus from purely financial markets to investments that contribute to the real economy, such as ethical businesses, agriculture, or sustainable development projects.

Agsmarkets.com Pricing Model and Why it’s Problematic

Agsmarkets.com outlines a tiered account structure: Basic, Pro, and VIP, each requiring a different minimum deposit and offering varying features, primarily differentiated by spread tightness and support levels.

While the “zero commissions” claim might sound appealing, the underlying pricing mechanism of CFDs still presents issues from an Islamic perspective.

Account Tiers and Minimum Deposits:

• Basic Account: Min Deposit: 0, Spread from: 0.15 pips, Leverage up to: 1/200, Support: 5/7
• Pro Account: Min Deposit: 10,000, Spread from: 0.10 pips, Leverage up to: 1/200, Support: 5/7
• VIP Account: Min Deposit: 30,000, Spread from: 0.05 pips, Leverage up to: 1/200, Support: 7/7

The Problematic Nature of “Spreads” and “Zero Commissions”:

While Agsmarkets.com advertises “zero commissions,” brokers offering CFDs typically make their money through the “spread” – the difference between the buy ask and sell bid price of an asset. Shopcar.parts Review

• Spreads as an Earnings Mechanism: The tighter the spread, the less the broker earns per trade, but they rely on high trading volume. The wider the spread, the more they earn per trade. From an Islamic finance perspective, the permissibility of spreads in a non-spot transaction like CFDs can be debated, especially when combined with leverage and overnight financing. If the spread is used to facilitate Riba interest or excessive Gharar, it becomes problematic.
• Overnight Financing / Swap Fees: This is the most significant issue. When you hold a CFD position overnight, you typically pay or receive a “swap” fee. This fee is essentially an interest payment on the leveraged amount you’re borrowing to hold the position. These are explicit forms of Riba, which is strictly prohibited in Islam. Even if not explicitly called out on the homepage, these are standard for CFD brokers. For example, a common swap calculation involves the central bank interest rates of the two currencies in a pair, plus a broker’s markup.
• Leverage Fees Hidden Costs: While not a direct fee, the risk amplified by leverage often leads to margin calls and forced liquidations, resulting in significant losses for traders. This cost isn’t a direct charge but a consequence of the product’s structure.

Why This Pricing Model is Unsuitable for Ethical Investors:

The entire pricing model of Agsmarkets.com, based on tight spreads, “zero commissions,” and tiered accounts, is designed around facilitating speculative CFD trading.

Because CFDs inherently involve Riba through overnight financing and introduce excessive Gharar due to leverage and their derivative nature, any pricing structure built around them is ethically problematic from an Islamic finance standpoint.

The fees are intrinsically linked to a transaction that is impermissible.

Agsmarkets.com Features: What They Offer and Why It’s Still Problematic

Agsmarkets.com highlights a range of features aimed at enhancing the trading experience, including various platforms, analytical tools, and different trading strategies.

While these features might appeal to conventional traders, their application within a CFD trading environment continues to raise ethical concerns for the Muslim investor. Desklog.io Review

Trading Platforms cTrader Ecosystem

• Desktop, iOS, Android, Web & Mac: Agsmarkets.com heavily promotes the cTrader platform, available across multiple devices. cTrader is known for its advanced charting tools, order types, and risk management features.
• Problematic Use: While cTrader itself is a robust platform, its use with Agsmarkets.com is for CFD trading, which, as established, is impermissible. The features of the platform, no matter how advanced, are facilitating a forbidden activity.

Trading Tools & Analytics

• Economic Calendar: Provides information on upcoming economic events that can impact markets.
• 70+ Technical Indicators, 6 Chart Types, 28 Timeframes: Offers a wide array of tools for technical analysis.
• Level 2 DoM Depth of Market: Provides insight into market liquidity and order flow.
• Market Sentiment: Shows the prevailing sentiment of traders on a particular asset.
• Problematic Use: These analytical tools are primarily used to predict short-term price movements for speculative trading. While market analysis itself isn’t forbidden, using it to engage in Riba-laden, Gharar-filled CFD trades is the issue. It’s like having a sophisticated tool for a forbidden activity.

Trading Strategies: Copy Trading & Automated Trading

• Copy Trading: Allows users to copy the trades of successful strategy providers. Agsmarkets.com details advantages for both investors e.g., ranking strategies by performance, detailed reporting and strategy providers e.g., charging performance, volume, and management fees.
• Automated Trading cBots: Uses cTrader’s trading robots to execute trades based on predefined algorithms, aiming to eliminate human error and emotional decisions.
• Problematic Nature: Both copy trading and automated trading, in the context of Agsmarkets.com, are mechanisms to engage in speculative CFD trading.
  • Maysir Gambling amplified: Copying someone else’s speculative trades or using a bot to do it doesn’t change the underlying impermissibility of the CFD transaction itself. It can even amplify the gambling aspect by creating a detachment from the actual decision-making process.
  • Riba in Fees: Strategy providers can charge “Performance, Volume and Management” fees. While management fees on real services can be permissible, if these fees are tied to or derived from Riba-based transactions like interest on leveraged positions, they become problematic.
  • Gharar Uncertainty still present: Even with automation or copying, the inherent uncertainties and risks of highly leveraged CFD trading remain. Past performance is never an indicator of future results, and using these tools can lead to significant, rapid losses.

In essence, while Agsmarkets.com offers a robust set of features and tools, their application in facilitating CFD trading means that they are all part of a system that is fundamentally misaligned with Islamic financial principles.

The problem isn’t the tools themselves, but how they are utilized within a forbidden framework.

FAQ

How can I verify if Agsmarkets.com is regulated?

To verify Agsmarkets.com’s regulation, you would typically look for specific license numbers and the names of regulatory bodies on their website, usually in the footer or “About Us” section.

Then, you would cross-reference this information on the official websites of those regulatory authorities e.g., FCA, CySEC, ASIC, FINRA to confirm their legitimacy and the scope of their authorization.

Without clear, prominently displayed regulatory details on their homepage, it’s difficult to verify immediately. Senzmate.com Review

What are Contracts for Difference CFDs and why are they problematic?

Contracts for Difference CFDs are financial derivatives that allow traders to speculate on the price movements of underlying assets like stocks, currencies, commodities without actually owning the asset.

They are problematic in Islamic finance because they involve Riba interest through overnight financing charges, excessive Gharar uncertainty due to high leverage and their speculative nature, and can resemble Maysir gambling as the primary intent is pure speculation for quick gains rather than real investment.

Does Agsmarkets.com charge commissions?

Agsmarkets.com explicitly states “ZERO COMMISSIONS” on its homepage.

However, they generate revenue through “tightest spreads,” which is the difference between the buy and sell price of an asset, and likely through overnight swap fees or financing charges on leveraged positions.

What is Riba in Islamic finance and how does it relate to Agsmarkets.com?

Riba is interest, which is strictly prohibited in Islamic finance because it’s considered an unjust gain without productive effort or risk-sharing. Fabula.me Review

It relates to Agsmarkets.com through the overnight financing charges swaps inherent in holding CFD positions, which are essentially interest payments on borrowed funds used for leverage.

What is Gharar and Maysir, and why are they relevant to Agsmarkets.com?

Gharar refers to excessive uncertainty or ambiguity in a contract, while Maysir refers to gambling. Both are prohibited in Islamic finance.

They are relevant to Agsmarkets.com because CFD trading, with its high leverage and speculative nature, involves significant Gharar high risk of loss from small price movements, lack of clear outcome and can be akin to Maysir speculating on price movements without tangible asset exchange, driven by hope of quick gain.

Are there any truly commission-free and Shariah-compliant trading platforms?

Truly commission-free and Shariah-compliant trading platforms are rare, as conventional financial models often involve implicit or explicit interest.

However, platforms like Wahed Invest offer Shariah-compliant investment portfolios where the underlying assets and management fees adhere to Islamic principles, focusing on ethical stocks and sukuk instead of speculative derivatives. Worldwincoder.com Review

What are the risks of trading with high leverage on platforms like Agsmarkets.com?

The risks of trading with high leverage e.g., 1:200 on platforms like Agsmarkets.com are substantial.

Leverage magnifies both profits and losses, meaning a small adverse market movement can lead to a significant loss of capital, often exceeding the initial deposit, resulting in margin calls and account liquidation.

Can I invest in cryptocurrencies ethically through Agsmarkets.com?

No, you cannot invest in cryptocurrencies ethically through Agsmarkets.com from an Islamic finance perspective.

While the underlying cryptocurrency itself might be permissible in some contexts, Agsmarkets.com offers crypto CFDs, which involve leverage, Riba, and speculation, making the method of engagement impermissible.

What kind of customer support does Agsmarkets.com offer?

Agsmarkets.com offers customer support, with the “Basic” and “Pro” accounts having 5/7 support, and the “VIP” account receiving 7/7 support, indicating varying levels of availability based on account tier. Vesaro.com Review

Is copy trading permissible in Islam?

Copy trading, when it involves underlying impermissible transactions like CFDs with Riba and excessive Gharar, is generally not permissible in Islam.

The permissibility depends on the nature of the assets being traded and the structure of the profit/loss sharing.

If it facilitates forbidden transactions, it becomes forbidden itself.

What is automated trading cBots on Agsmarkets.com?

Automated trading, or cBots on Agsmarkets.com, refers to the use of trading robots that execute trades automatically based on predefined algorithms.

This is designed to remove human emotion and error from trading decisions. Scholes-emf.com Review

Are there any halal alternatives to CFD trading for earning income?

Yes, there are many halal alternatives for earning income, including investing in real businesses equity partnerships, Shariah-compliant real estate, ethical crowdfunding, direct ownership of physical gold/silver, and investing in ethically screened stocks or sukuk through Shariah-compliant platforms like Wahed Invest.

What minimum deposit is required to open an account with Agsmarkets.com?

Agsmarkets.com advertises a “Basic Account” with a minimum deposit of 0, suggesting it might allow account opening without immediate funding, likely for demo purposes, while “Pro” requires 10,000 EUR/USD and “VIP” requires 30,000 EUR/USD for live trading.

How does Agsmarkets.com ensure data privacy?

Agsmarkets.com states that it “uses cookies and asks your personal data to enhance your browsing experience” and is “committed to protecting your privacy and ensuring your data is handled in compliance with the General Data Protection Regulation GDPR.” They link to a GDPR calculator, suggesting adherence to EU data protection standards.

Can I practice trading on Agsmarkets.com without risking real money?

Yes, Agsmarkets.com offers an “OPEN DEMO ACCOUNT” option, allowing users to practice trading with virtual funds without risking real money, which is a standard feature for most trading platforms.

What types of markets does Agsmarkets.com allow trading on?

Agsmarkets.com allows trading CFDs on a wide variety of markets including Forex currencies, Metals gold, silver, platinum, Indices global stock indices, Energies WTI, Brent crude oil, and Cryptos Bitcoin, Ripple, Ethereum, Dash, Litecoin. Instant-deals.com Review

Is it possible to cancel an Agsmarkets.com account?

While not explicitly detailed on the homepage, generally, to cancel an account with an online broker like Agsmarkets.com, you would typically need to log in to your client area, navigate to account settings or contact their customer support directly through email or phone to initiate the closure process.

What is FIX API access on Agsmarkets.com?

FIX API Financial Information eXchange Application Programming Interface access on Agsmarkets.com means that advanced traders can connect their own trading systems directly to the broker’s servers for ultra-fast order placement and market data retrieval, often preferred by institutional clients and professional algo traders.

How does Agsmarkets.com compare to other conventional CFD brokers?

Agsmarkets.com appears to offer standard features for a conventional CFD broker: competitive spreads, multiple asset classes, various account types, and popular trading platforms like cTrader.

Its offerings are typical of the highly leveraged, speculative retail trading market.

What financial documents are required to open a live account with Agsmarkets.com?

To open a live account with Agsmarkets.com, Step 2 states, “Once you are in the client secure area, please proceed with uploading your Proof of Identity and Proof of Residence.” This is standard KYC Know Your Customer documentation required by financial institutions. 3dissue.com Review

Is trading commodities like oil and gold through CFDs permissible?

Trading commodities like oil and gold through CFDs is generally not permissible in Islamic finance.

This is because it involves speculation on price movements without actual ownership or physical delivery of the commodity, often with leverage and overnight financing fees Riba, leading to excessive Gharar.

How do I learn more about ethical Islamic investing?

To learn more about ethical Islamic investing, you can read books on Islamic finance, attend webinars or courses offered by Islamic financial institutions, consult with Shariah-compliant financial advisors, and utilize resources from organizations dedicated to ethical finance.

What are the main differences between Basic, Pro, and VIP accounts on Agsmarkets.com?

The main differences between Agsmarkets.com’s Basic, Pro, and VIP accounts lie in their minimum deposit requirements 0, 10,000, and 30,000 respectively, spread tightness 0.15, 0.10, and 0.05 pips respectively, and support availability 5/7 for Basic/Pro, 7/7 for VIP.

Does Agsmarkets.com offer a mobile app for trading?

Yes, Agsmarkets.com offers a mobile app for trading. Fxxtrader.com Review

Their homepage explicitly mentions “cTrader Mobile and Tablet” apps available for “IOS” Apple App Store and “Android” Google Play Store.