We found 11 online brokers that are appropriate for Trading Forex Islamic Account Investment Platforms.
An Islamic account is different from regular trading accounts. These accounts respect the Sharia law. Some parts of Sharia law make these accounts differ from the regular brokerage accounts that we are used to. In this article, we will list the main concepts of the Forex Islamic account.
The main differences are that Sharia law prohibits the accumulation of interest. Accounts are forbidden from having rollover swaps from positions that are opened at the time of the market close on Friday. Another important feature of such accounts is that transactions must be settled on the spot. This means that all costs and fees are paid on the spot.
Islamic law forbids the idea of making money from borrowed money. According to the Sharia, it is unfair to make profits and to accumulate interest on lended money because such practice is exploitative of the hard situation that the lender is experiencing. This helps the traders to not accumulate interests on rollover balances, and they also are forbidden from earning interest. Such practice helps but also forbids the accumulation of wealth via lending capital.
The Sharia law prohibits gambling and fraud. This means that a Sharia Forex account should not allow risky trades. This means that using high-risk trading instruments such as CFDs is not allowed by Sharia law.
Under Sharia law, brokers cannot offer pledges. This means that brokers cannot resell default loans. It does not matter if the loan is interest-free. You are not allowed to resell debt. Sharia law also forbids shorting the market. This is because short selling involves borrowing and it speculates on securities that the trader does not own. This falls on the grounds of gambling and thus it is not allowed in an Islamic account.
An Islamic account is not entitled to leverage trading nor can it perform future sales of assets on a price agreed today. This means that an Islamic account cannot trade futures. This is because this falls into the gambling and fraud Sharia prohibitions.
The Islamic banking sector is growing rapidly. There are more and more options that traders can choose to open an account. The first thing to look at when you open an Islamic account is the broker’s regulation. Make sure that your broker is regulated by the FCA, Cysec, or the CFTC.
Make sure to check the swap policy. Some regular brokers do allow swap-free periods but make sure that you understand the swap policy of your broker. Make sure to check the deposit requirements to open an account. Most Islamic accounts have higher deposit requirements. Make sure to double-check if the broker complies with all of Sharia law. Make sure to ask the broker for wide dealing spreads.
Other features that you should look for involve features like the transaction fees, the type of trading platform, the user interface of their services, and their websites. Make sure to check for all the elements that might affect your trading system and your returns. Make sure that your broker has a wide educational resource, so this way you can constantly learn and improve.
There is a way around Islamic accounts. If you day trade and close your position within the day, there are no swaps so you should be all set even with regular brokers. Just make sure to check the swap rollover period and to perfectly understand the broker’s policies.
In this article, we covered the main features of an Islamic account. We listed the requirements of an Islamic account. We listed the main features that your Islamic broker should have to be reliable. Trading with Islamic accounts has requirements that differ from the regular brokerage services, but as long as you have a reputable broker and you have a strong trading system, you should be all set.
We have conducted extensive research and analysis on over multiple data points on Forex Islamic Account to present you with a comprehensive guide that can help you find the most suitable Forex Islamic Account. Below we shortlist what we think are the best Forex Islamic Account Investment Platforms after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Forex Islamic Account.
Selecting a reliable and reputable online Forex Islamic Account Investment Platforms trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Forex Islamic Account Investment Platforms more confidently.
Selecting the right online Forex Islamic Account Investment Platforms trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Forex Islamic Account Investment Platforms trading, it's essential to compare the different options available to you. Our Forex Islamic Account Investment Platforms brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Forex Islamic Account Investment Platforms broker that best suits your needs and preferences for Forex Islamic Account Investment Platforms. Our Forex Islamic Account Investment Platforms broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Forex Islamic Account Investment Platforms.
Compare Forex Islamic Account Investment Platforms brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Forex Islamic Account Investment Platforms broker, it's crucial to compare several factors to choose the right one for your Forex Islamic Account Investment Platforms needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Forex Islamic Account Investment Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Forex Islamic Account Investment Platforms that accept Forex Islamic Account Investment Platforms clients.
Broker | IC Markets | Roboforex | eToro | XTB | XM | Pepperstone | AvaTrade | FP Markets | EasyMarkets | SpreadEx | FXPro |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) |
Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 100 | 100 | 1 | 100 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 142,500+ | 10,000+ | 1,866,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps |
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Learn More |
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Up with icmarkets |
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Up with roboforex |
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Up with etoro |
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Up with xtb |
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Up with xm |
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Up with pepperstone |
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Up with avatrade |
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Up with fpmarkets |
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Up with easymarkets |
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Up with spreadex |
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Up with fxpro |
Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 75-95 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
easyMarkets Demo |
SpreadEx Demo |
FxPro Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | US, CA, IR |
You can compare Forex Islamic Account Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Forex Islamic Account Investment Platforms for 2024 article further below. You can see it now by clicking here
We have listed top Forex Islamic Account Investment Platforms below.
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Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
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