AlSalam Financial Investments LLC Review

About AlSalam Financial Investments LLC

Al-Salam for Financial Investments is listed by the Jordan Securities Commission (JSC) as a company licensed to act as a “Financial Broker for the Account of Others” in the foreign-exchange market. The JSC list is labelled as covering licenses valid through June 8, 2022. The broker’s official website is salaminv.com and states that it offers foreign exchange, precious metals, indices, commodities, and shares CFDs through MetaTrader 5.

The official website lists PRO, PRIME, EXECUTIVE, and CASH accounts. Its published minimum deposits are $50, $5,000, $10,000, and $50,000 respectively; maximum leverage is 1:100 for PRO, PRIME, and EXECUTIVE accounts and 1:1 for CASH. Published spreads start at 1.0 pip for PRO and 0 pips for the other accounts; commissions are listed as $0 for PRO and CASH, $6 for PRIME, and $3 for EXECUTIVE. The website states that swaps apply to PRO, PRIME, and EXECUTIVE accounts, while the CASH account is marked as exempt. It lists USD, EUR, and GBP as accepted currencies for bank-wire and card funding.

There is a regulatory-status conflict in the JSC records. A JSC board decision dated May 23, 2018 states that the license of Al Salam for Financial Investments to perform broker activities was revoked at the company’s request, while the JSC foreign-exchange list separately lists AL Salam for Financial Investment as a licensed broker. The specific JSC board decision is the more direct record concerning the revocation and should be considered when assessing the broker’s authorization status. The official website also states that its global brokerage services are not provided to citizens or residents of the United States, Iran, North Korea, Mauritius, Romania, Japan, Myanmar, and Canada.

Pros and cons

Pros

• MetaTrader 5 is offered for desktop, Android, and iOS devices.
• The website lists access to forex, precious metals, commodities, indices, and shares CFDs.
• A demo account is advertised on the official website.
• The published PRO account minimum deposit is $50.

Cons

• The JSC board decision dated May 23, 2018 records revocation of the broker license at the company’s request.
• The JSC list and the JSC board decision present conflicting regulatory information.
• The official account pages state that swaps apply to PRO, PRIME, and EXECUTIVE accounts.
• The official website excludes residents and citizens of the United States and several other countries from its global brokerage services.