What is the ruling on working in Forex with Islamic accounts that feature the following specifications: no interest, no swap fees on overnight positions, spreads, upfront commissions, the ability to hold positions for an unlimited period, no re-quotes or hidden costs, with leverage up to 888:1, 100% instant execution, and dedicated 24/5 support, knowing that the company does not impose additional fees as an alternative to شرعًا (religiously) prohibited interest?

What you mentioned about the Islamic trading accounts provided by XM is partly acceptable and partly objectionable. The decisive factor lies in the reality of the transactions, not merely in raising the banner of Islamization. Among the objectionable matters is the issue of financial leverage (margin trading) because it is a loan that brings benefit, and therefore it is impermissible to deal with it. It is stipulated that buying and selling must be limited to the amount of capital only, while observing the conditions for trading gold, silver, and currencies. Furthermore, it is obligatory to avoid overnight fees and similar charges that involve usury, and the contract must inherently be free from such usurious elements.