Top Halal Trading for 2022
We found 11 online brokers that are appropriate for Trading Islamic.
Best Halal Trading Guide
Updated November 25, 2022
Halal Trading
The subject of halal trading is one that has succeeded in generating lots of controversies amongst both Islamic and western scholars. It simply refers to the question of whether intraday trading is permitted within the religion. Halal in Islam means something that is permitted. Haram, on the other hand, implies something that is forbidden.
In this post, we are going to be looking at how the Islamic religion perceives buying and trading stocks in terms of being halal or haram.
Every religion has different concepts with regard to trading. Muslims need different opportunities for halal trading.
Different trading platforms can meet different trading preferences and the needs of all clients and you can gain advantages when trading with Islamic trading accounts.
These accounts are available to satisfy the needs of Muslim clients. To open your Islamic account, you have to follow these essential steps:
- Send the relevant documents to verify an account.
- Fund your trading account.
- After funding your account, you must apply for Islamic accounts that operate according to Sharia Law. The request for your account is forwarded to an appropriate department for approval and review. Requests may take up to 1 to 2 business days to process.
Is Forex Trading Haram Or Halal?
This is one question that always seems to pop up amongst different categories of people. The truth is that Forex trading could either be haram or halal in different instances. As an investor, this majorly depends on your intent and behaviour. For example, if you are using an acceptable strategy to trade, it can be said to be halal. The same can also be said once you are trading with an Islamic account.
Conversely, it is basically considered haram once you are using an interest charging account to trade. In this case, it will be seen as gambling which is not deemed acceptable. As a Muslim, you need to understand how to trade Forex. Halal trading is when you are buying and selling currencies in line with the principles of Islam. Your actions in the market will attract some question marks once they involve speculating on the prices of currencies as this will be viewed as gambling.
Islamic law kicks against any form of derivative trading (including Forex) where you do not own such assets as an investor. This is because it is characterised by speculation. Trading as a Muslim requires the highest level of caution. This is because there are laws and principles that are in place to guide your actions and that are expected to be followed. There are three major factors to consider when talking about whether Forex trading is haram or halal. These are:
- Whether it is an investment or gambling.
- If any amount of interest is being charged.
- If it is being productive to the general society.
Is Stock Trading Halal?
Just like the case of Forex discussed above, there are some important factors to consider before reaching a conclusion on whether stock trading is considered haram or halal. First of all, Islam does not prevent you from buying stocks. In other words, such practice is acceptable. The reason for this is that purchasing shares gives you the right to take part in a business’ ownership.
However, such practice or investment can become haram when the company’s line of business is questionable based on Islamic laws and doctrines. Here is a clear example. Islam forbids activities like gambling, alcohol, pornography, borrowing with interest and many more such moral issues. In any of these cases, buying and selling the shares of such companies can be considered haram.
Is Trading Binary Options Halal?
Contary to other trading forms, binary options provide more direct trades compared to numerous other instruments, e.g., Forex and stocks. The option may either shell out a fixed amount of compensation if the option happens to expire in the funds. It will pay out nothing if the option expires out of the funds.
If the trader has inadequate knowledge regarding how or what to trade, in that case, trading binaries would count as gambling, which is not halal.
Additionally, since each contract requires a loser and a winner, this is likely not halal. Not all parties can withdraw value and profit from the trade. Hence, it is worth knowing that a majority of individuals see binary options as haram.
All that being said, nowadays, a new type of philosophy has come to light that only the trader can be aware of whether trading binaries is haram or not. If you fully comprehend the intricacies of the trade, then you are most likely not gambling. Therefore, despite a vast majority of brokers providing so-called Islamic accounts, only you are truly aware of whether what you are doing is acceptable or not when you decide to trade binaries.
Is Leverage Halal?
To be able to make a significant amount of intraday gains from minuscule price movements, you have to invest considerable sums of money. To remedy this problem, forex brokers provide traders with leverage. That allows the investor to invest £50-£75 for each £1 they put up. This allows them to take larger positions and therefore, increase their profit. It counts as a loan, and in Islam, it is allowed to borrow from someone to invest and make a profit, returning that loan to the creditor at the end, free of interest.
In the case of Forex brokers, they are lending you the capital intending to make a commission. This leads to them making a return on each trade you conduct. Many scholars have considered this a type of interest, thus deeming Forex trading haram.
Luckily, Islamic foreign exchange brokers have remedied this by offering day traders an alternative. It is now possible to get Forex accounts that will not be charging you with standard interest fees. They instead charge traders with increased commission fees in spot foreign exchange trades.
While some believe that this is a hidden interest component, numerous Islamic scholars are comfortable with this method of trading. Regular spot forex trading with no overnight charges may solve the “riba” issue.
Perspectives To Consider For Stock Trading
From an Islamic point of view, companies can be viewed from three different perspectives when it comes to stock investment. These are as follows:
Shares That Are In Line With Islamic Practises
Some examples of these shares are furniture, real estate, medical equipment, clothing, shipping and manufacturing. If you purchase shares from companies that are in any of these fields, it will not be considered as haram.
Shares That Are Prohibited In Islam
These are just like the examples stated previously. They could be shares involving nightclubs, hotels, commercial insurance, tourism, gambling, alcohol, pornography, and borrowing with interest. According to the laws and principles guiding Islam, these are all highly prohibited and forbidden.
Mixed Companies
There are some companies that fall into the first category of engaging in practices that are not frowned on in Islam. However, some of their activities still remain questionable. A typical example is the case of transportation companies that are being funded by Riba-based loans.
Halal Trading Account
With Halal trading accounts, Muslims can gain the advantage of Forex trading to confirm to with Sharia law.
Remember, more than 25% of the population of the world practices Islam. For this reason, Halal forex trading is consistently gaining popularity.
Halal trading accounts may not charge rollovers or swap interests on overnight positions in the forex market of the United Kingdom.
Open positions may need to charge some administration fees. To comprehend Halal forex trading, it becomes crucial to understand the principles of finance in the light of Islam.
Unlike traditional finance (for the revenue motive), Islamic finance is based on ethical considerations and goals. Two essential principles for Islamic finance are as follows:
A philosophy to share risk between the borrower and lender is an important principle. As per Islam, interest gaining can be immoral.
Interest gaining promises a reward to lenders and borrowers to incur the risk. It is exploitative and unethical as per Islamic finance.
In another principle, monetary activity should promote economic and social activity.
The main objective of funding in Islam is related to the promotion of well-being and happiness in worldly life. Remember, finance is an integral part of society and life.
According to this, Islamic finance encourages socio-economic impartiality. For this reason, usury or interest may be prohibited.
Extra uncertainty or risk is prohibited due to excessive speculation and gambling.
Halal Trading And Interest
Interest is a predetermined payment paid above and over the primary amount for each commercial and personal loan.
According to Sharia law, charging interest or earning cash from cash is unlawful. The main reasons for condemnation are as follows:
- Negative growth may occur because of usury. It can increase cash quantitatively, but social wealth may not have primal progression.
- Additionally, usury can disgrace the personality of the human. Furthermore, it promotes the culture efficiently that puts unnecessary significance on monetary requirements. It can be classed as a disregard for humanity.
- Typically, Riba is unlawful property acquisition.
- Once engrained, Riba can corrupt society.
- For all purposes and intents, Riba is unjust. It creates cash for lenders, and it is oppressive for borrowers.
Halal Forex Trading
As per Islamic finance Halal Forex trading may adapt to Sharia laws. Under normal circumstances, futures and forex trading in Halal finance fall into a Riba al-nasi’a category. In simple words, it is interpreted as (deferment) postponement, Riba.
It happens at the time of exchanging two products. One product is easy to hand over, and others may incur delays. Basically, Forex transactions have the same nature where the cash to cash transactions are common with a delayed settlement. Deferment may carry extra charges as rollover or swaps.
Remember, cash to cash transactions of various currencies with equal values are allowed. An exchange of the USD dollars for euros of equal value is halal. It implies that no interest is involved in Forex transactions. If payment is deferred or delayed, it may result in an al-nasi’a transaction.
As per the Sharia law, several platforms offer facilities of Halal trading to Muslims with easy access to different no swap accounts. Accounts with Sharia-compliant may not carry overnight rewards and charges. It is allowed to hold different positions for an indefinite period without any interest.
The outcomes of transactions of Forex exchange may mimic the market spot that has compliance with Sharia law. An SSB (Sharia Supervisory Board) is available to ensure legitimacy and ensure financial transactions.
A firm with SSB approval can offer its halal financial products. They must comply with ethical Islamic finance principles.
Muslim traders can work with financial institutions working under the seal of SSB. It may be an indication that transactions may not involve sneaky interest. They may not carry uncertainty (gharar) or additional risk.
Small Percentage
A majority of Islamic scholars approve of companies that only deal in a fraction of conventional or un-Islamic products and options. It is usually recommended for Islamic traders to give the percent of profits generated by the haram section out of the business. Hence, if a company’s gains come from alcohol, traders are required to donate 10 percent of their profits to charity.
Riba: What It Means
Riba is an important component of Islamic finance ethics. Riba plays a vital role for Muslim investors in Sharia-compliant financial saving, investing, and trading. Riba pertains to usury, interest, and unethical gains made in an investment, business or trade. Riba has been condemned in the Holy Quran and Hadith. Riba fundamentally refers to any increase, but the entire concept revolves around the fact that riba misrepresents wealth. This is because the lender can take unfair advantage of others and expand their wealth without contributing much to society.
Riba al-nasi’a alludes to an increase in capital owing to the passage of time. It is thus, one of the most common kinds of riba. Bonds also count as riba, hence they are not considered lawful for Muslim traders and investors. The forbidding of riba is among the main reasons why Muslim investors prefer stock investments over any other type of investment.
Advantages Of Halal Trading
The Islamic finance industry is growing in tandem with the Muslim economy. It is growing to cater to the requirement for increasing halal investment and trading products and options. Following are the advantages of halal investments and trading:
Social Accountability
Besides being Sharia-compliant, taking a socially accountable stance when it comes to finances, trading and investment lead to human rights preservation, ethical wealth distribution and investments that help diminish environmental decline.
Lowered Risk
Islamic investment principles mean that halal investment options and products are less vulnerable to fluctuations and changes in the market. International crises do not affect Islamic finance as much as they do more conventional forms of banking. In Islam, short-term speculation is considered unlawful, hence the exposure is a lot lower overall.
Increasing Fortune In a Halal Way
One of the most vital benefits for Muslim traders and investors. Halal investments allow Muslims to engage in and gain exposure within international markets. It also allows them to take part in responsible investments that call for moral due diligence.
Disadvantages Of Halal Trading
Similar to any kind of investment, Halal investment and trading have their drawbacks. Although Islamic finance does not stop Muslim traders from taking risks, it does not allow investments involving speculation. Following are the risks that come with Halal trading:
Restricted Opportunities
Since Halal investment products are relatively new to finance, finding lucrative opportunities may sometimes prove challenging for traders.
Due Diligence
Halal trading and investments involved greater information gathering compared to conventional investment. All the prior verification is time-consuming and calls for special attention to detail, something not every investor is ready to do.
Lack Of Diversification
Halal trading and investing call for a lot of time and consideration. This may lead to the portfolio not being as diverse or flourishing compared to conventional investments.
Halal Trading Final Verdict
You have seen that when it comes to halal trading, there are still some activities that have question marks beside them. As a Muslim, it is recommended that you watch out for such activities. However, trading with Forex and stocks is very much allowed in the Muslim community.
People with Islamic faith can gain the advantage of Halal trading. The Sharia-compliant accounts are available for your assistance.
This will not involve changes in the form of rollover or daily swaps. Fees of administration on trading products substitute all fees and you can have the best products as per the laws of Islam.
You can experience the power of MT4 and MT5 (MetaTrader) trading with different charges. These are transparent on different currency pairs, commodities and stock CFDs. The interest charges will be waived, and you should not worry about charges that could be hidden.
We've collected thousands of datapoints and written a guide to help you find the best Halal Trading for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Islamic brokers below.
Reputable Halal Trading Checklist
There are a number of important factors to consider when picking an online Islamic trading brokerage.
- Check your Islamic broker has a history of at least 2 years.
- Check your Islamic broker has a reasonable sized customer support of at least 15.
- Does the Islamic broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
- Check your Islamic broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
- Does your Islamic broker have an international presence in multiple countries. This includes local seminar presentations and training.
- Make sure your Islamic can hire people from various locations in the world who can better communicate in your local language.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Our brokerage comparison table below allows you to compare the below features for brokers offering Islamic Brokers.
We compare these features to make it easier for you to make a more informed choice.
- Minimum deposit to open an account.
- Available funding methods for the below Islamic Brokers.
- What you are able to trade with each brokerage.
- Trading Platforms offered by these brokers.
- Spread type (if applicable) for each brokerage.
- Customer support levels offered.
- We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.
Top 15 Islamic Brokers of 2022 compared
Here are the top Islamic Brokers.
Compare Islamic Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Islamic brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Islamic brokers that accept Islamic clients
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IC Markets
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Roboforex
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XTB
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AvaTrade
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Pepperstone
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XM
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NordFX
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FP Markets
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EasyMarkets
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FXPro
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Plus500
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| Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Central Bank of Ireland, 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) | 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 | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | 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), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules |
| Min Deposit | 200 | 1 | No minimum deposit | 100 | 200 | 5 | 1 | 100 | 100 | 100 | 100 |
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| Used By | 180,000+ | 10,000+ | 250,000+ | 300,000+ | 89,000+ | 3,500,000+ | 10,000+ | 10,000+ | 142,500+ | 1,866,000+ | 22,000,000+ |
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| Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Up with icmarkets |
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Up with roboforex |
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Up with xtb |
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Up with avatrade |
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Up with pepperstone |
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| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 74% 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. | 71% of retail investor accounts lose money when trading CFDs with this provider | 74-89 % of retail investor accounts lose money when trading CFDs | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% 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. | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider | 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. |
| Demo |
IC Markets Demo |
Roboforex Demo |
XTB Demo |
AvaTrade Demo |
Pepperstone Demo |
XM Demo |
NordFX Demo |
FP Markets Demo |
easyMarkets Demo |
FxPro Demo |
Plus500 Demo |
| Excluded Countries | US, IR, CA, NZ, JP | US, JP, IR | US, IN, PK, BD, NG , ID, BE, AU | BE, BR, KP, NZ, TR, US, CA, SG | AF, AS, AQ, AR, 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, UY, VU, VG, EH, YE, ZW | US, CA, IL, KR, IR, MM, CU, SD, SY | US, CA, EU, RU, SY, KP, CU | 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, CA, IR | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE |
All Islamic brokers in more detail
You can compare Islamic Brokers 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 Islamic Brokers for 2022 article further below. You can see it now by clicking here
We have listed top Islamic brokers below.
Halal Trading Table of Contents
- Halal Trading Explained
- 6 Factors to Consider when Choosing Halal Trading
- Are Your Halal Trading Trusted And Established?
- Are The Halal Trading World Leading?
- What are the Halal Trading Commissions and Fees?
- What are the Halal Trading Funding and Withdrawl Methods?
- Find Halal Trading with Round-the-clock support?
- Make sure the Halal Trading Offer Comprehensive Trader resources?
- Why Halal Trading needs to be regulated?
- Halal Trading FAQ
- What are the best Islamic brokers?
- What is the best Islamic broker?
- Related Halal Trading Reviews
- Related Halal Trading Alternatives
- Related Halal Trading Comparisons
Halal Trading Explained
Trading the financial markets with Halal Trading when conditions are volatile can be difficult, even for experienced traders.
Apart from the educational and other resources made available online, another important factor for traders to consider when looking for Halal Trading is the platform that a Halal Trading offer.
Choose Halal Trading that's at the forefront of innovation and generally considered an industry-leader.
To gain access to the financial markets, you'll need Halal Trading that you can rely on.
6 Factors to Consider when Choosing Halal Trading
Follow these five rules for selecting a broker that's right for you:
Are Your Halal Trading Trusted And Established?
Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated Halal Trading broker is IC Markets. Established in 2007, and in operation for 12 years IC Markets have a head office in Australia.
IC Markets is regulated. This means IC Markets are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
Another top rated broker is Roboforex.
Roboforex was established 2009, and in operation for 9 years Roboforex have a head office in Cyprus.
Roboforex is regulated. This means Roboforex are supervised by and is checked for conduct by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies.
| Broker |
IC Markets
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Roboforex
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XTB
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AvaTrade
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Pepperstone
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XM
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NordFX
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FP Markets
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| Year Established | 2007 | 2009 | 2002 | 2006 | 2010 | 2009 | 2008 | 2005 |
| Head Office | Australia | Cyprus | Poland | Ireland | Australia | Cyprus | Mauritius | Australia |
| Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Central Bank of Ireland, 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) | 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 | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) |
| Used By | 180,000+ | 10,000+ | 250,000+ | 300,000+ | 89,000+ | 3,500,000+ | 10,000+ | 10,000+ |
| Negative balance protection | Yes | No | Yes | No | Yes | Yes | Yes | |
| Guaranteed Stop Loss | No | No | No | No | No | No | No | |
| Learn More | Visit IC Markets | Visit Roboforex | Visit XTB | Visit AvaTrade | Visit Pepperstone | Visit XM | Visit NordFX | Visit FP Markets |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 74% 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. | 71% of retail investor accounts lose money when trading CFDs with this provider | 74-89 % of retail investor accounts lose money when trading CFDs | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% 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. | Losses can exceed deposits | Losses can exceed deposits |
Are The Halal Trading World Leading?
Choose a broker that's at the forefront of innovation and generally considered an industry-leader. IC Markets Segregates clients funds and offers over 2250 instruments. IC Markets offers both an online trading platform as well as a mobile platform giving clients easy access to markets.
In addition, the IC Markets platform enables access to a variety of financial markets worldwide. IC Markets is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Halal Trading is Roboforex. Roboforex Segregates clients funds and offers over 100 instruments.
| Broker |
IC Markets
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Roboforex
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XTB
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AvaTrade
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Pepperstone
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XM
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NordFX
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FP Markets
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| Instruments Available | 2250 | 100 | 4000 | 1250 | 1200 | 1000 | 50 | 290 |
| Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps |
| Excluded Countries | US, IR, CA, NZ, JP | US, JP, IR | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | BE, BR, KP, NZ, TR, US, CA, SG | AF, AS, AQ, AR, 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, UY, VU, VG, EH, YE, ZW | US, CA, IL, KR, IR, MM, CU, SD, SY, PT | US, CA, EU, RU, SY, KP, CU | US, JP, NZ |
| Forex pairs offered | 61 | 35 | 57 | 55 | 70 | 55 | 70 | |
| Forex pairs offered | 61 | 35 | 57 | 55 | 70 | 55 | 70 | |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Cryptocurrencies (availability subject to regulation) | Yes | No | Yes | Yes | Yes | No | Yes | Yes |
| Commodities Offered | 20 | 21 | 21 | 17 | 16 | 15 | 0 | 18 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Energies | Yes | No | Yes | Yes | Yes | Yes | No | Yes |
| Agricultural | Yes | No | Yes | Yes | Yes | No | No | Yes |
| Stocks Offered | 2100 | 0 | 1696 | 1000 | 1100 | 160 | 10000 | |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
| US Shares | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
| German Shares | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Japanese Shares | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
What are the Halal Trading Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Halal Trading broker IC Markets offers competitive offers for Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. IC Markets minimum deposit is 200.
Another top rated Halal Trading broker Roboforex offers Forex, CFDs. Roboforex minimum deposit is 1. Please note that any cryptocurrency availability with any broker is subject to regulation.
| Broker |
IC Markets
|
Roboforex
|
XTB
|
AvaTrade
|
Pepperstone
|
XM
|
NordFX
|
FP Markets
|
| Min Deposit | 200 | 1 | 0 | 100 | 200 | 5 | 1 | 100 |
| Withdrawl Fees | No | Yes | varies | No | No | No | No | No |
| Inactivity Fees | No | No | Yes | No | No | Yes | No | No |
| Deposit Fees | Varies | No | No | No | No | No | No | Yes |
| CFD Commission Fees | Yes | No | Yes | No | Yes | No | Yes | Yes |
What are the Halal Trading Funding and Withdrawal Methods?
When dealing with Halal Trading having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.
| Broker |
IC Markets
|
Roboforex
|
XTB
|
AvaTrade
|
Pepperstone
|
XM
|
NordFX
|
FP Markets
|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Paypal | Yes | No | Yes | Yes | Yes | No | No | Yes |
| Skrill | Yes | No | Yes | No | Yes | No | No | Yes |
| Payoneer | No | Yes | Yes | Yes | Yes | No | No | No |
| Neteller | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Find Halal Trading with Round-the-clock support?
Customer service is very important when dealing with Halal Trading.
When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.
Halal Trading customer support can include Phone answering services, Live chat support and Email customer service support.
IC Markets support a wide range of languages including English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more
Roboforex support a wide range of languages including English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian
IC Markets and Roboforex offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
IC Markets
|
Roboforex
|
XTB
|
AvaTrade
|
Pepperstone
|
XM
|
NordFX
|
FP Markets
|
| Support |
|
|
|
|
|
|
|
|
| Languages | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | Arabic, Simplified Chinese, Traditional Chinese, Dutch, English, Finnish, French, German, Hungarian, Italian, Indonesian, Japanese, Mongolian, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Malay, Korean and Turkish | English, Spanish, Portuguese, Thai, Russian, Italian, French, German, Polish, Chinese, Vietnamese, and Arabic | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish | Indian, Chinese, Arabic, Brazilian, English, Spanish, Russian | English, Arabic, Indonesian, Italian, Spanish, French, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese, Romanian, Turkish, Slovenian, Dutch, Polish, Finnish, Norwegian, Swedish, Serbian, Lithuanian, Hungarian, Galician, Estonian, Danish, Czech, Croatian, Bulgarian, Basque |
| Learn More | Visit IC Markets | Visit Roboforex | Visit XTB | Visit AvaTrade | Visit Pepperstone | Visit XM | Visit NordFX | Visit FP Markets |
| Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 74% 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. | 71% of retail investor accounts lose money when trading CFDs with this provider | 74-89 % of retail investor accounts lose money when trading CFDs | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% 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. | Losses can exceed deposits | Losses can exceed deposits |
Make sure the Halal Trading Offer Comprehensive Trader resources?
Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from top analysts, IC Markets and Roboforex work together to bring the latest news and insights to traders.
For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.
Why Halal Trading needs to be regulated?
A regulated Halal Trading broker lowers your risk.
Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.
Halal Trading brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.
Halal Trading List
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, AndroidCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5Customer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account Pro Account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account XM Zero account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, cTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Plus500 offer a 100% Free and Unlimited Demo account No Deposit fees/Commissions No hidden fees Competitive fees Tight Spreads
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Learn more
Losses can exceed deposits