When you trade spot without leverage, you reduce the risks associated with interest, but there are still some things to watch out for regarding fees and interest. Here are the details:
### 1. **Swap Fees**
- **What are the overnight fees?**
- Overnight fees are charged on trades held open for more than one trading day. These fees can be negative (debit) or positive (credit) and depend on the interest rate associated with the currencies.
- **How do you know if a platform charges overnight fees?**
- Check the platform’s terms and conditions or visit the fees section on its website. You can also contact customer service to inquire about specific overnight fees.
### 2. **How to know if a currency contains interest or usury**
- **Verify information**
- Look for details about the currency on its official website or on trusted platforms. Make sure that the currency is not associated with illegal activities or usurious interests.
- **Consultation**
- If you are unsure, it is best to consult a religious scholar or Islamic Sharia specialist for accurate guidance regarding the currencies you are trading.
- **Associated fees**
- Check the fees charged on trades, especially rollover or overnight fees. If these fees are considered interest, they are considered usury.
### 3. **The importance of transparency**
- Make sure the platform you are trading on provides clear information about fees and commissions. Transparency in transactions helps you avoid falling into usury.
### a summary
If you trade without leverage, you reduce your exposure to usury risk, but you should be aware of rollover fees and any potential interest. It is always best to check the platform and currency details and consult Sharia experts when necessary.
