Top Halal Trading for 2024
We found 11 online brokers that are appropriate for Trading Islamic.
Best Halal Trading Guide
Analysis by Andrew Blumer, Updated Last updated - April 24, 2024
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?
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. 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 have conducted extensive research and analysis on over multiple data points on Halal Trading to present you with a comprehensive guide that can help you find the most suitable Halal Trading. Below we shortlist what we think are the best Islamic brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Halal Trading.
Reputable Halal Trading Checklist
Selecting a reliable and reputable online Islamic 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 Islamic more confidently.
Selecting the right online Islamic trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
- Ensure your chosen Islamic broker has a solid track record of at least two years in the industry.
- Verify that the Islamic broker has a customer support team of at least 15 members responsive to queries and concerns.
- Check if the Islamic broker operates under the regulatory framework of a jurisdiction that can hold it accountable for any misconduct or resolve disputes fairly and impartially.
- Ensure that the Islamic broker can process deposits and withdrawals within two to three days, which is crucial when you need to access your funds quickly.
- Look for Islamic brokers with an international presence in multiple countries, offering its clients local seminars and training programs.
- Ensure the Islamic broker can hire staff from diverse locations worldwide who can communicate fluently 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.
Compare Key Features of Islamic Brokers in Our Brokerage Comparison Table
When choosing a broker for Islamic trading, it's essential to compare the different options available to you. Our Islamic brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
- Minimum deposit requirement for opening an account with each Islamic broker.
- The funding methods available for Islamic with each broker.
- The types of instruments you can trade with each Islamic broker, such as forex, stocks, commodities, and indices.
- The trading platforms each Islamic broker provides, including their features, ease of use, and compatibility with your devices.
- The spread type (if applicable) for each Islamic broker affects the cost of trading.
- The level of customer support each Islamic broker offers, including their availability, responsiveness, and quality of service.
- Whether each Islamic broker offers Micro, Standard, VIP, or Islamic accounts to suit your trading style and preferences.
By comparing these essential features, you can choose a Islamic broker that best suits your needs and preferences for Islamic. Our Islamic broker comparison table simplifies the process, allowing you to make a more informed decision.
Top 15 Islamic Brokers of 2024 compared
Here are the top Islamic Brokers.
Compare Islamic brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Islamic broker, it's crucial to compare several factors to choose the right one for your Islamic needs. Our comparison tool allows you to compare the essential features 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.
| Broker |
IC Markets
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Roboforex
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eToro
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XTB
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XM
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Pepperstone
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AvaTrade
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NordFX
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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) | 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 | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | 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) FSA, 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, Plus500EE AS is authorised and regulated by the Estonian Financial Supervision and Resolution Authority (Licence No. 4.1-1/18), Plus500AE Ltd is authorised and regulated by the Dubai Financial Services Authority (F005651) DFSA |
| Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 1 | 100 | 100 | 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+ | 1,866,000+ | 24,000,000+ |
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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, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | MT4, MT5, cTrader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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| Learn More |
Sign
Up with icmarkets |
Sign
Up with roboforex |
Sign
Up with etoro |
Sign
Up with xtb |
Sign
Up with xm |
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Up with pepperstone |
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Up with avatrade |
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Up with nordfx |
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Up with easymarkets |
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Up with fxpro |
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Up with plus500 |
| 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 | 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider | 80% 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 |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
NordFX Demo |
easyMarkets Demo |
FxPro Demo |
Plus500 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, CA, EU, RU, SY, KP, CU | 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, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO |
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 2024 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 volatile financial markets with Halal Trading can be challenging, even for experienced traders. In addition to the online educational resources available, traders should consider the platform offered by Halal Trading to ensure a successful trading experience.
Selecting Halal Trading at the forefront of innovation and considered an industry leader is crucial. Doing so will ensure you are equipped with the tools and features to navigate volatile Halal Trading markets effectively.
Reliability is key to gaining access to financial markets. Look for Halal Trading that you can rely on to provide a stable and secure trading environment, allowing you to execute trades with Halal Trading confidently.
6 Factors to Consider when Choosing Halal Trading
Follow these five rules for selecting Halal Trading that are right for you:
Are Your Halal Trading Trusted And Established?
Search for a reputable Halal Trading with a extensive proven track record for Halal Trading, enabling you to focus solely on implementing your trading strategy and navigating the markets with confidence. 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 Belize.
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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eToro
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XTB
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XM
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Pepperstone
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AvaTrade
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NordFX
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|---|---|---|---|---|---|---|---|---|
| Year Established | 2007 | 2009 | 2007 | 2002 | 2009 | 2010 | 2006 | 2008 |
| Head Office | Australia | Belize | Cyprus, UK | Poland | Cyprus | Australia | Ireland | Mauritius |
| 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 | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 |
| Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ |
| Negative balance protection | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Guaranteed Stop Loss | No | No | No | No | No | No | No | |
| Learn More | Visit IC Markets | Visit Roboforex | Visit eToro | Visit XTB | Visit XM | Visit Pepperstone | Visit AvaTrade | Visit NordFX |
| 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 |
Are The Halal Trading World Leading?
Opt for Halal Trading that set themselves apart as an industry leader by actively embracing innovation. Take IC Markets as an example, which is renowned for Segregates clients funds and boasts an extensive array of 2250 tradable instruments. Moreover, IC Markets caters to the needs of its clients with both an online trading platform and a mobile application, making it incredibly convenient to access the markets from anywhere, at any time.
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
|
Roboforex
|
eToro
|
XTB
|
XM
|
Pepperstone
|
AvaTrade
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| Instruments Available | 2250 | 100 | 5000 | 5600 | 1000 | 1200 | 1250 | 50 |
| 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, Tablet & Mobile apps |
| 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, 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, MG, MK, MO, UA, JO, KR, | 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 | 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, CA, EU, RU, SY, KP, CU |
| Forex pairs offered | 61 | 35 | 50 | 57 | 55 | 70 | 55 | |
| Forex pairs offered | 61 | 35 | 50 | 57 | 55 | 70 | 55 | |
| 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 | No | No | Yes | Yes | Yes |
| Commodities Offered | 20 | 21 | 31 | 21 | 15 | 16 | 17 | 0 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Energies | Yes | No | Yes | Yes | Yes | Yes | Yes | No |
| Agricultural | Yes | No | Yes | Yes | No | Yes | Yes | No |
| Stocks Offered | 2100 | 0 | 2042 | 1696 | 160 | 1100 | 1000 | |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| US Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| German Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Japanese Shares | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
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 10. Please note that any cryptocurrency availability with any broker is subject to regulation.
| Broker |
IC Markets
|
Roboforex
|
eToro
|
XTB
|
XM
|
Pepperstone
|
AvaTrade
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| Min Deposit | 200 | 10 | 100 | 0 | 5 | 200 | 100 | 1 |
| Withdrawl Fees | No | Yes | Yes | varies | No | No | No | No |
| Inactivity Fees | No | No | Yes | Yes | Yes | No | No | No |
| Deposit Fees | Varies | No | No | No | No | No | No | No |
| CFD Commission Fees | Yes | No | Yes | Yes | No | Yes | No | Yes |
What are the Halal Trading Funding and Withdrawal Methods?
Efficient and hassle-free funding and withdrawal facilities can significantly improve your overall trading experience when dealing with Halal Trading. It streamlines the trading process and helps you focus on making informed decisions rather than worrying about deposit and withdrawal matters with Halal Trading.
| Broker |
IC Markets
|
Roboforex
|
eToro
|
XTB
|
XM
|
Pepperstone
|
AvaTrade
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Paypal | Yes | No | Yes | Yes | No | Yes | Yes | No |
| Skrill | Yes | No | Yes | Yes | No | Yes | No | No |
| Payoneer | No | Yes | No | Yes | No | Yes | Yes | No |
| Neteller | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Find Halal Trading with Round-the-clock support?
Effective customer service is an essential factor to consider when dealing with Halal Trading.
Halal Trading customer service entails various support services to aid customers in making the most cost-effective and appropriate use of the brokers' services.
The customer support options offered by Halal Trading 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
|
eToro
|
XTB
|
XM
|
Pepperstone
|
AvaTrade
|
NordFX
|
|---|---|---|---|---|---|---|---|---|
| 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, German, Spanish, French, Italian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish | English, Spanish, Portuguese, Thai, Russian, Italian, French, German, Polish, Chinese, Vietnamese, and Arabic | 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 | Indian, Chinese, Arabic, Brazilian, English, Spanish, Russian |
| Learn More | Visit IC Markets | Visit Roboforex | Visit eToro | Visit XTB | Visit XM | Visit Pepperstone | Visit AvaTrade | Visit NordFX |
| 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 |
Make sure the Halal Trading Offer Comprehensive Trader resources?
It's important to ensure your Halal Trading provide complimentary resources such as analysis, education, and risk management tools. IC Markets and Roboforex collaborate with top analysts to bring the most up-to-date news and insights to traders.
Sound risk and money management are vital to financial market navigation with Halal Trading. However, selecting the best broker to access the markets is a critical step that traders should not overlook as they embark on trading live financial markets with Halal Trading.
Why Halal Trading needs to be regulated?
Regulated Halal Trading lowers your risk of loss of deposited trading funds.
Lowering your risk is one of the benefits of working with a properly regulated Halal Trading.
Consumers are protected by Halal Trading regulation, critical to preventing inadequate services and potential financial harm.
Regulation of Halal Trading is necessary to prevent fraud. The Halal Trading working capital and client-funded accounts must be kept separate to avoid conducting business with client funds. Any fraudulent behaviour with Halal Trading is monitored by financial regulators in the jurisdictions brokers are allowed to operate.
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, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
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
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
MT4, MT5, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account XM Swap-Free account (XM Ultra Low 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
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, 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, TradingView, 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
Losses can exceed deposits