Top Islamic Trading Accounts for 2022

We found 11 online brokers that are appropriate for Trading Islamic Trading Accounts.

Swap Free Islamic Trading Accounts Guide

Updated December 07, 2022

Islamic Trading Accounts

You have heard that a Muslim who observes Shari’a law or Islamic finance rules can have a Forex trading account and practice their faith, in good conscience.

You have heard that Forex trading can be a profitable investment.

You would like to know more.

  1. Do you understand the basics of Islamic trading?
  2. Are you a practicing Muslim who obeys Shari’a or Islamic law?
  3. If so, you might find this article very informative.

What Is Islamic Forex Trading?

Islamic Forex Trading means exchanging currencies for profit while following Islamic rules on finance. Forex is short for 'foreign exchange'. More specifically, it is a foreign currency exchange. Unlike traditional forex trading, Islamic trading is different as trades are conducted under sharia law.

It is the process of converting or trading one currency for a different currency. The reasons for this exchange vary. But here is one reason that supplies an elementary explanation of why people would want to trade national currencies and how it's done.

Let’s assume that you are in a foreign country that does not accept the native currency of your homeland. In other words, your dollars may make you rich in your own country, but they lack purchasing power in another country. They will not buy you anything where you are now. For example, You can't spend Bahamian dollars in the United States.

You cannot spend Mexican pesos in the U.S. You can't spend the Japanese yen in the U.S. Those foreign currencies have no value in the USA. You cannot go into a store and purchase a product. You cannot go to a restaurant and order a meal. So, you have to go to a foreign currency exchange (a cashier's office probably located in an American bank) and trade or exchange those colorful paper notes with the face of Queen Elizabeth or Benito Juárez or FUKUZAWA Yukichi for U.S. dollars with pictures of dead presidents that you can spend!

That is basically the Forex process in a nutshell. As mentioned before, Islamic Forex trading is somewhat different.

Islamic Forex accounts, also commonly termed swap free trading accounts, are halal trading accounts that do not involve the accumulation, collection, or paying of interest. This is all in accordance with Shari’a law. Such accounts do not involve the use of forwarding contracts or futures. When you use an Islamic Forex trading account, all your transactions (transaction costs included) will take place in an instant without any delays.

What Is An Islamic Trading Account

An Islamic trading or Forex account is a type of trading account that is considered halal. It is offered to individuals who respect and follow the teachings of the Quran and those who aim to invest in the stock market abiding by the tenets of Islamic Finance. Also referred to as swap free forex accounts, these types of accounts vary in numerous ways when compared to conventional Forex accounts. Shari’a law, in essence, forbids the stockpiling of interest. Traders who own Islamic accounts do not receive or pay interest rates due to this. Aside from that, transactions carried out in accounts contingent on Islamic finance should essentially be executed without any delays. That means that currencies must be sent from one account to another immediately. Transaction fees must also be paid straight away.

Even though halal investment in foreign exchange accounts is not exactly recent innovation in terms of Islamic finance, there are still a few swap-free stockbrokers offering Islamic accounts. Most often, this variety of trading account is not facilitated by brokers; the reason being that they are seen by them as less profitable and the number of customers demanding them is usually limited.

Are Islamic Trading Accounts Halal?

Islamic Trading accounts are commonly described as “swap-free” accounts. True to their name, swap-free accounts are the types of trading accounts that do not create swaps. A “swap” in forex is a turnover interest or commission that a broker charges when a client of theirs makes a decision to keep their position open overnight. Swap-free trading accounts are known not to offer swap interest. This makes them excellent for Muslim traders. This is also the reason why swap-free accounts are also referred to as Islamic foreign exchange accounts. After all, they are the only kinds of accounts offered that are swap-free. While swap-free accounts are usually meant for Muslim traders, Islamic brokers can also offer them to non-Muslim traders.

Islamic accounts are essentially designed to suit Muslim traders as they are in conformity with Islamic law in the sense that they do not incur swaps or interest fees on positions held overnight. Instead of that, the client is required to pay an application fee on such positions which are subtracted from the balance of the holder’s account. So, by getting rid of swap interest costs, Islamic trading accounts are, without a doubt, halal. Additionally, halal forex brokers can offer services on any halal trading platform.

Is Trading Allowed In Islam

Acquiring interest, or to put it more plainly, usury is not allowed in Islam. It also has a quite broad definition. This suggests that any contract or deal that involves interest or “Riba” is not permitted on the basis of Islamic law. For quite a time, retail foreign exchange brokers followed the practice of either paying or charging traders interest derivatives between the two elements of any currency pair with a position remaining open overnight. With the passage of time, a majority of foreign exchange brokers evolved into Islamic Forex brokers as a result of market forces and the rising demands of the Islamic trading community. These forex swap free brokers began offering Muslim Forex accounts, ones that would work without conventional interest payments. They carried this out by charging customers with raised commissions in spot Forex trading positions. While this is practiced by most Islamic Forex brokers, it still holds a rather hidden interest element, which can make Forex trading problematic on the basis of Islamic law.

However, halal Forex brokers offer regular spot trading with no interest payments. In addition to the spot trades, brokers do not charge for overnight positions which could do away with the problem of riba.

Islamic Swap Free Trading Accounts

Essentially, Forex trading is halal. It allows traders to utilize most they can from a swap-free trading account. In that case, there is no element of interest or riba. Trading is not haram, in general. Some hold the opinion that Forex trading is permissible when the right kind of analysis is put to use. When traders are able to predict when the value of a certain currency is set to increase or decrease (that too without speculation), they are thus not acting as gamblers.

On the other hand, if an Islamic trader times the time of their trader in order to get the most favorable results, it will be deemed as against the law set by Islamic finances as there will be a certain amount of speculation involved.

Ideally, in accordance with Islamic finances, Islamic forex trading must take effect immediately without little to no delays. As it is considered a natural component of commerce permitted by Islamic law. Islamic traders must trade with fundamental or chart-oriented analysis. This act makes Forex trading in Islam admissible as it is dictated in the Shari’a law. The regular kind of chart-focused analysis can be viewed as speculation, which is not permissible.

All in all, keeping all this in mind, trading in Islam can often turn haram. It is still possible (and easier), however, if you opt for an Islamic Forex account providing swap-free trading i.e., one that has been intended for traders who cannot receive or pay swaps or turnover interest on overnight positions because of their religious beliefs, in compliance with Shari’a law. Another way to trade halal is with Islamic trading platforms that ensure swap free forex trading.

The Target Demographic For Islamic Trading Accounts

Traditional trading accounts tend to charge traders interest on specific trades. This can be a problematic situation for Islamic traders since making money out of money (also called riba) is discouraged by Shari’a law. In addition, gharar or gambling is strictly prohibited according to Islamic finance laws. Gharar refers to volatile circumstances in the foreign exchange market that make it complicated to confidently predict what is bound to happen. This counts as gambling in Islamic finance.

Opening An Islamic Trading Account

To be eligible for opening an Islamic trading account, you may be required by the broker to provide proper documentation, such as your identification. You may need to provide a document that proves your faith as well.

Islamic trading accounts apply the Shari’a law to online foreign exchange trading. Hence it is for Muslim traders, i.e., those wishing to incorporate the teachings of the Holy Quran with their life activities. The Holy Quran stipulates a law referred to as the Shari’a law that involves rules on how the followers of Islam should live and interact in society. It involves guidelines of behavior on family matters, sustenance, finance, and more.

Once a Muslim trader has understood the conditions of their chosen Islamic broker and practiced trading in a demo account, they can set up an Islamic account to begin trading. When you open a trading account, you are required to provide your information and fund it. Then you refer to their customer support for more information.

Benefits Of Islamic Accounts

Islamic trading accounts have numerous benefits that make them stand out from conventional trading accounts. The primary difference that sets Islamic accounts apart from regular ones is that there are no swap commissions involved. This is a crucial benefit since you can simply open long-term trading positions without worrying about reducing your gains because of swap commissions. Hence, swap free accounts are the go-to at Islamic trading platforms.

The second main benefit is that you can open positions in currency pairs that involve high swap costs (most particularly exotic pairs).

Yet another advantage is that Muslim traders can engage without going against their religious beliefs. There is also the Mudarabah Agreement in which both parties share their profit and loss.

Drawbacks Of Islamic Accounts

There are certain drawbacks to Islamic accounts as there are benefits to them. The removal of the swap commission can also be potentially bad for Halal traders since they will not be able to take advantage of the positive interests often paid to short positions. This also involves the benefits of carry-trading strategies.

To remain lucrative after the removal of interest, the non-swap broker will charge an administrative fee as financial institutions do in Islamic finance.

What About Islamic Forex Trading Online?

There is actually an online global marketplace where you can trade national currencies (Such as GBP, US Dollar, Yen, Euro, etc.). Many people engage in online Forex trading. They don't have to physically take their currency to a bank. They do not even have to leave their country. They can just open an online trading account with a reputable company that has the technological tools and start trading.

If you use these search terms “where to open online Forex trading account”, the results will display various platforms. Some companies require minimum deposits to open an account (anywhere from $10,000 to $100,000). Some companies service clients worldwide. Do your research (or get sound advice from a finance professional) and pick the one that works best for you.

Online forex accounts open doors to a wider market. An Islamic trade site not only opens access to wider regions but permits halal trading with them as well. There are many halal trading platforms online that utilize swap free trades for Islamic traders. Creating a swap free trading account with a halal forex trading platform.

Islamic Trading Mobile Apps

Furthermore, there are Islamic trading mobile apps that make trading more convenient. An Islamic trading app allows you to make a trading app through your phone with the best halal trading platform and manage your account afterward. Halal trading apps are useful, instantaneous, and easy to use. It is an important tool to have if you want to take Islamic forex trading to the next step.

Through your forex Islamic account, you can trade various currencies around the world in what is known as the exchange rate pair. It is the exchange rate or price quote for two currencies that are being traded. The most common pairing is EUR/USD, i.e. the Euro/dollar against the U.S. Dollar. If you watch or keep up with business or financial news reports you will note they have a segment in the program that specifically reports on the currencies of the world.

They recommend trading or exchange strategies, discuss top stories or current events that impact the currency markets, and talk about anything and everything that is relevant to Forex trading. Do a generic search “business news Forex”.

Can Everybody Engage In Forex Trading?

Before you consider engaging in Forex trading, it is important to understand that not everyone makes a profit, nor does everyone lose. The way this particular market works is that there is always someone who is making a huge profit from trading, while someone else is incurring a loss on trading. Profiting from Forex trading is based on experience, knowledge, and research. If this does not come in the way of you venturing into Forex trading, there might be other factors to consider, i.e., your region and religion.

Not every country allows Forex. There are some countries that ban it or restrict it. As of 2022, the countries which ban Forex are Belgium, Bosnia Herzegovina, France, Israel, Malaysia, North Korea, countries that enforce Shari’a, e.g. Pakistan and India.

Islamic Trading Regulation

Of course, this list is subject to change moving forward. Depending on what the administration of each government decides is in the best interest of its citizens, forest trading may either remain banned or be allowed. Note that the government of India does allow its citizens to engage in certain Forex markets so long as they follow established by the SEBI (Securities and Exchange Board of India).

In the United States, Forex trading online or offline is perfectly legal. The US Commodity Futures Trading Commission (CFTC) and the US National Futures Association (NFA) publish the “rules of the game” and they regulate! There are no restrictions based on religion unless you happen to be a Muslim who strictly observes Shari’a or Islamic law. The secular laws of the country won't prevent you from engaging in Forex trading. However, the rules of Islamic finance might.

Islamic Forex trading is also legal in the UK as long as the Islamic Forex broker is regulated by the (FCA).

What Are Islamic Forex Trading Accounts?

Islamic Forex Trading accounts or halal Forex trading accounts, also referred to as ‘no-swap accounts’, allow Muslims to engage in online Forex trading without violating what the Shari’a law stands for.

Traders of the Islamic faith can find information on how to set up an online Forex trading account by visiting one of our listed brokers below.

How Do I Get An Islamic Trading Account

An Islamic trading account can be acquired via the following steps:

  1. Choosing a platform/broker that offers Islamic trading.
  2. Registering and verify your account by providing all the documentation required.
  3. Funding your trading account.
  4. After you have completed funding your account, you can move on to apply for an Islamic account in compliance with the Shari’a law. Your chosen platform will then forward the request to their relevant department for review and authorization. It usually takes a platform 1 to 2 working days to process a request.

Picking An Islamic Forex Account

The information supplied in the aforementioned article is very detailed.

For each broker listed there are details on deposit requirements, and whether the trading platform is desktop, a mobile app, or web-based.

This article is intended to serve as an introduction to Forex trading and specifically, Islamic Forex Trading Accounts. Below please find additional reading and reference materials to help you continue your education.

The Key Beliefs Of Halal Forex Trading

Islamic finance comes with four main principles:

  1. Discouragement against gambling.
  2. Risk and benefit distribution.
  3. Prompt exchanges in the framework of trading procedures.
  4. Discouragement against receipt and payment of any interest rate, also known as Riba.
  5. These main principles do not always fit into the conventional i.e., Western trading and banking practices, and to regard the principles of Islamic finance, specialized trading accounts have been established, mainly known as “Islamic accounts.”

    Islamic accounts are provided to clients who aim to conduct halal Forex trading without resorting to disconnecting their investment and trading activities from their religious practices.

    Generally, such accounts are very similar to conventional trading accounts, only a specific set of elements have been arranged to comply with the basic principles of Islamic finance. Most notable is the swap free forex trading.

    Islamic Trading Accounts: Commissions

    One of the major features of Islamic trading is swap free trading. Islamic trading accounts are known for not generating any swap interest like most conventional trading accounts do. The swap refers to interest either received or paid by the trader when they leave a position open overnight. The charges on the trade of currencies are considered haram, and against the Sharia law in Islamic finance.

    The existence of Islamic currency trading accounts removes these interests and that enables Muslim traders to conduct trades in a reputable halal trading platform.

    When it comes to commissions, all Muslim clients who regularly make use of Islamic trading accounts pay margins, administrative charges, and commissions. These are not considered riba.

    Prohibitions In Islamic Finance

    Following are the practices disallowed or discouraged in accordance with Islamic finance:

    Overnight Trading Positions

    Shari’a law has prohibited trading accounts from receiving rollover points on the positions that they keep open at the NY close of 5 pm (EST).

    Margin Deposit Interest

    Shari’a law discourages the accumulation of interest on any capital deposited in an Islamic trading account.

    Loans

    The funds transferred by banks as loans to clients with interest involved are deemed unlawful since they involve riba. Signed pledges and oaths are also a part of this category.

    Short Sales

    Parttakng in short sales by purchasing and immediately selling an asset is haram. This issue mostly involves stock trades instead of foreign exchange trades.

    Margin Trading

    The trade of stocks on margin requires paying interest (which counts as riba) for borrowing money from a stockbroker to purchase or sell equities is against Shari’a law. On the other hand, trading forex involves a margin deposit with no interest whatsoever when you conduct a transaction on margin.

    Forward Sales

    Shari’a law discourages contracts and agreements that involve buying and selling at a future date on a price established in the present. This would keep the trader from taking part in trading futures and forward contracts.

    Scalping In Islamic Trading Accounts

    Scalping is a trading style similar to intraday trading. It involves the opening of positions (done by the trader) that are closed immediately. They can either be closed in a few minutes, or even in mere seconds.

    A scalper’s (meaning a trader who takes part in scalping) main goal is to open numerous small trading positions by earning a few select points in all of them.

    The main benefit associated with scalping is that, similar to intraday trading, positions are closed quickly, leaving no room for interest. That is because the position is closed after a few moments or minutes. Consequently, a Muslim scalper can also use a standard trading account instead of needing an Islamic trading account.

    Islamic Trading Accounts Verdict

    Islamic trading is widely practiced by Muslim traders because of the benefits it provides. One main benefit is that Muslim traders are not forced to do anything their faith deems immoral or haram. Another major advantage is the removal of swap commission on Islamic trading accounts during exchanges. Owing to the widespread use of Islamic trading accounts, Islamic trading has gained traction even in the world of traditional trading, and will likely continue to do moving forward.

    We've collected thousands of datapoints and written a guide to help you find the best Islamic Trading Accounts 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 trading accounts below.

    Reputable Swap Free Islamic Trading Accounts Checklist

    There are a number of important factors to consider when picking an online Islamic Trading Accounts trading brokerage.

    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 Trading Accounts.

    We compare these features to make it easier for you to make a more informed choice.

    Top 15 Islamic Trading Accounts of 2022 compared

    Here are the top Islamic Trading Accounts.

    Compare Islamic Trading Accounts min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

    All brokers below are islamic trading accounts. Learn more about what they offer below.

    You can scroll left and right on the comparison table below to see more islamic trading accounts that accept islamic trading accounts clients

    Broker IC Markets Roboforex XM AvaTrade XTB Pepperstone NordFX EasyMarkets FXPro Plus500 ThinkMarkets
    Rating
    Regulation Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) 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), 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 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 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), 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 Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060
    Min Deposit 200 1 5 100 No minimum deposit 200 1 100 100 100 No minimum deposit
    Funding
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    • Bank transfer
    • Credit Card
    • Paypal
    Used By 180,000+ 10,000+ 3,500,000+ 300,000+ 250,000+ 89,000+ 10,000+ 142,500+ 1,866,000+ 22,000,000+ 500,000+
    Benefits
    • Allows scalping
    • Allows hedging
    • Low min deposit
    • Offers Negative Balance Protection
    • Allows scalping
    • Allows hedging
    • Offers STP
    • Low min deposit
    • Allows scalping
    • Allows hedging
    • Low min deposit
    • Offers Negative Balance Protection
    • Allows scalping
    • Allows hedging
    • Low min deposit
    • Allows scalping
    • Allows hedging
    • Offers STP
    • Low min deposit
    • Offers Negative Balance Protection
    • Allows scalping
    • Allows hedging
    • Offers STP
    • Low min deposit
    • Offers Negative Balance Protection
    • Allows scalping
    • Allows hedging
    • Offers STP
    • Low min deposit
    • Allows scalping
    • Allows hedging
    • Low min deposit
    • Guaranteed stop loss
    • Offers Negative Balance Protection
    • Allows scalping
    • Allows hedging
    • Low min deposit
    • Offers Negative Balance Protection
    • Low min deposit
    • Guaranteed stop loss
    • Advanced Risk Management Tools
    • Allows scalping
    • Allows hedging
    • Low min deposit
    • Offers Negative Balance Protection
    Accounts
    • Demo account
    • Mini account
    • Standard account
    • Zero spread account
    • Raw Spread account
    • Islamic account
    • Demo account
    • Micro account
    • Mini account
    • Standard account
    • Zero spread account
    • ECN account
    • Islamic account
    • Demo account
    • Micro account
    • Standard account
    • Zero spread account
    • Islamic account
    • Demo account
    • Micro account
    • Mini account
    • Standard account
    • Managed account
    • Islamic account
    • Pro account
    • Demo account
    • Micro account
    • Mini account
    • Standard account
    • Islamic account
    • Demo account
    • Standard account
    • Zero spread account
    • ECN account
    • Islamic account
    • Demo account
    • Micro account
    • Mini account
    • Standard account
    • Zero spread account
    • ECN account
    • Islamic account
    • Demo account
    • Standard account
    • Islamic account
    • Demo account
    • Mini account
    • Islamic account
    • Demo account
    • Standard account
    • Islamic account
    • Demo account
    • Standard account
    • Islamic account
    Platforms MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Tablet & Mobile apps MT4, MT5, Web Trader, Tablet & Mobile apps MT4, MT5, cTrader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps ThinkTrader, MT4, MT5, Mac, Web Trader, Tablet & Mobile apps
    Support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    • Live chat
    • Phone support
    • Email support
    Learn More Sign Up with
    icmarkets
    Sign Up with
    roboforex
    Sign Up with
    xm
    Sign Up with
    avatrade
    Sign Up with
    xtb
    Sign Up with
    pepperstone
    Sign Up with
    nordfx
    Sign Up with
    easymarkets
    Sign Up with
    fxpro
    Sign Up with
    plus500
    Sign Up with
    thinkmarkets
    Risk Warning Losses can exceed deposits Losses can exceed deposits 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. 71% of retail investor accounts lose money when trading CFDs with this provider 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. 74-89 % of retail investor accounts lose money when trading CFDs 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. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% 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
    Demo IC Markets
    Demo
    Roboforex
    Demo
    XM
    Demo
    AvaTrade
    Demo
    XTB
    Demo
    Pepperstone
    Demo
    NordFX
    Demo
    easyMarkets
    Demo
    FxPro
    Demo
    Plus500
    Demo
    ThinkMarkets
    Demo
    Excluded Countries US, IR, CA, NZ, JP US, JP, IR US, CA, IL, KR, IR, MM, CU, SD, SY BE, BR, KP, NZ, TR, US, CA, SG US, IN, PK, BD, NG , ID, BE, AU 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, 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, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE RU, AF, Yugoslavia, AO, GM, NG, AW, GH, KR, BY, GN, BO, GN, PK, BW, HT, PG, IR, PN Island, Burma MM, IQ, RW, KH, , SN, CF, JP, Sierra, Leone, TD, KG, SO, CI , LB, SZ, CU, LS, SY, of CG, LR, TJ, DJ, LY, Tanzania, EC, Laos, TG, ER, ML, TM, ET, MN, UG, Falkland Islands, NA, US of America, FJ, NI, YE, ZW


    All Islamic trading accounts in more detail

    You can compare Islamic Trading Accounts 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 Trading Accounts for 2022 article further below. You can see it now by clicking here

    We have listed top Islamic trading accounts below.

    Swap Free Islamic Trading Accounts List

    IC Markets
    (4/5)
    Min deposit : 200
    IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
    Roboforex
    (4/5)
    Min deposit : 1
    Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by Cyprus Securities and Exchange Commission (CySEC)
    XM
    (4/5)
    Min deposit : 5
    XM was established in 2009 and is used by over 3500000+ traders. 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. XM offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account XM Zero account VIP account
    Regulated by Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
    AvaTrade
    (4/5)
    Min deposit : 100
    AvaTrade was established in 2006 and is used by over 300000+ traders. 71% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, Cryptocurrencies, Commodities, Indices, Stocks, Bonds, Vanilla Options, ETFs, CFDs, Spread Betting, Social Trading . Cryptocurrency availability with AvaTrade is subject to regulation.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by 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)
    XTB
    (4/5)
    Min deposit : 0
    XTB was established in 2002 and is used by over 250000+ traders. 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. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by 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
    Pepperstone
    (4/5)
    Min deposit : 200
    Pepperstone was established in 2010 and is used by over 89000+ traders. 74-89 % of retail investor accounts lose money when trading CFDs Pepperstone offers Forex, CFDs, Social Trading.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account Pro Account VIP account
    Regulated by 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
    NordFX
    (4/5)
    Min deposit : 1
    NordFX was established in 2008 and is used by over 10000+ traders. Losses can exceed deposits NordFX offers Forex.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008
    EasyMarkets
    (4/5)
    Min deposit : 100
    easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, Web Trader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)
    FXPro
    (4/5)
    Min deposit : 100
    FxPro was established in 2006 and is used by over 1866000+ traders. 75.78% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider FxPro offers Forex trading, Share Dealing, Spot Indices, Futures, Spot Metals and Spot Energies.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    MT4, MT5, cTrader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), Securities Commission of the Bahamas (SCB)
    Plus500
    (4/5)
    Min deposit : 100
    Plus500 was established in 2008 and is used by over 22000000+ traders. 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. Plus500 offers CFDs.


    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 Paypal

    Platforms

    Web Trader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by 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
    ThinkMarkets
    (3/5)
    Min deposit : 0
    ThinkMarkets was established in 2010 and is used by over 500000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.89% 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 ThinkMarkets offers Forex, CFDs.

    Funding methods

    Bank transfer Credit Card Paypal

    Platforms

    ThinkTrader, MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

    Customer support

    Live chat Phone support Email support

    Account Types

    Micro account Standard account ECN account
    Islamic account VIP account
    Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Financial Sector Conduct Authority (FSCA), Financial Services Authority Seychelles (FSA), TF Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority FRN 629628, TF Global Markets (AUST) Limited is the holder of Australian Financial Services License number 424700, TF Global Markets (South Africa)(Pty) Ltd is an Authorised Financial Services Provider (FSP No 49835),TF Global Markets Int Limited Is authorised and regulated by the Financial Services Authority Firm Reference Number SD060

Learn more Learn more about IC Markets.
Losses can exceed deposits
TRADE NOW Try IC Markets today
Losses can exceed deposits