How do I know if my investment is under the Islamic account?
All Clients are under Islamic investment account by default as we manage All funds under our Shariah compliance.
Are there swap or interest charges?
There are no swap or interest charges on the trades taken. Tradevago Capital charges an administration fee justifiable for administration related expenses to manage your account. We provide a service for which we charge a fixed admin/agency (Wakeel) fee.
How are trades processed on my Islamic investment account?
When we place a trade, it is sent to our liquidity provider where the trade takes place in the underlying interbank market. This means that the client’s trade always has an effect on supply/demand as it is a position in the real market. We can prove the actual currency trading through our liquidity providers. Clients can be assured that their investments are being traded in real market prices and affecting prices via supply demand with their own positions. We also provide all trade history taken under the management in Investor’s Portal.
How are trades executed on Tradevago Capital Islamic investment accounts and is there actual possession (Qabdh) of currencies?
Tradevago Capital guarantees absolute transparency in trading. All our trades are passed to our liquidity providers. With our Islamic Investment account, you can be assured that your trades are passed to the underlying market and thus be assured your investments trading exposure is real; a basic requirement that makes our Islamic account Shariah compliant.
What is the Shariah basis for this product?
The relationship between Tradevago Capital and the investor is that of Wakalah/agency. Tradevago Capital being the agent that manages the accounts and charges an Administration fee based on a signed mandate. The relationship between the liquidity providers and Tradevago Capital is that of Qardh (Loan) which is managed under a signed mandate by CDG Global. The account holders do not sign a mandate with the liquidity providers and have an agreement only with Tradevago Capital. The actual trading is referred to as Bay al-Sarf (currency trading).
Is the Tradevago Capital Islamic account Shariah compliant?
At Tradevago Capital we are fully committed to delivering one of the first few officially certified Islamic investment accounts. We have worked alongside well known shariah scholars Such as Mufti Ebrahim Desai and Sheikh Hasan Qamra, Chairman of the Shariah Board, which we follow his strict requirements in order to receive official certification that proves Tradevago Capital is fully Shariah compliant.