Islamic Forex Broker

 

 

 

While forex trading is quite popular in the Islamic world, brokers need to approach this customer base cautiously as there are cultural peculiarities to be obeserved. One such peculiarity is the Shariah law prohibiting Muslims from earning interest – and this is a problem because of the rollover/swap paid on positions held open overnight. 

 

This is why brokers have come up with a solution: Islamic, or swap-free accounts. With these, no interest is paid on overnight positions, however traders are usually bound with additional account fees. These vary depending on the broker – FxPro for example charges a handling fee of up to $10 per lot for positions open more than one day. 

 

Other brokers, like Liquid Markets, offer additional perks for swap-free accounts: Hibah. “Hibah” is a term describing gifts or donations awarded voluntarily, therefore the broker enables its Muslim clients to donate a share of their profit for charity. 

 

Below is a list of forex brokers that offer Islamic accounts. 

 

 

 

 



Islamic Forex Broker

Broker Regulated Min.deposit Leverage Spread Promotion
$50 1:300 1.8
$50 1:200 1
$1 1:888 1 30% Bonus
$5 1:500 0 100% Margin Bonus
$500 1:500 0.8 Gifts
$1 1:100 0.5
$500 200:1 1 10% Bonus
$1 1:500 1.0 25% Bonus
$5 1:1000 1 $5 bonus
$2000 1:500 2
$1 1:500 2 $100
$1 1:50 1 10% Bonus
$250 1:400 3
$200 1:500 1.6
$100 1:200 1 25% Bonus
$250 1:50 2 8% Bonus
$5 1:500 1 50%
$2000 1:500 0.9
$25 1:500 2 35% Bonus
$300 1:200 1.9 10% Bonus
$50 1:500 0.6-2
$100 1:500 0.2
$10 1:400 1.7 $100 no deposit bonus
  $100 1:300 1.9
$2000 1:200 1
$500 1:500 2 Swap free accounts
$500 200:1 1.4
$1 1:500 1.2
$250 1:200 0.9
$2000 1:100 4
$1 1:100 3 $5 free
$25 1:400 2
  $1 1:500 0.8
  $250 1:200 2.8 5%
$10 1:1000 3 30% Bonus
$10 1:400 2
$500 1:500 1
$300 1:50 2 up to $300 bonus
$100 1:200 2.2 Welcome
  $100 1:500 1 100% Bonus
  $25 1:500 1 110% bonus
  $1 1:500
100 GBP 1:400 3
  $500 1:100 1
$100 1:400 2
  $100 1:200 2
$1 1:500 1
$50 1:500 0.8 30%
  $10 1:200 1.5 pips
  $1 1:500 1.6 Trading Credit
$1 1:400 2 10% Bonus
  $50 500:1 2 $20
$2500 1:400
$100 1:100 3 pips
2000 1:200 2.2
$100 1:500
$100 1:500 3
$250 1:50 1 5% Bonus
$100 1:200 3 30% Bonus
$1 1:400 1.9
  $25 1:400 3
  $500 1:400 3 10% Bonus
  $100 1:500 1 10% Bonus
  $100 1:200 3
  $300 1:200 2
  $1 1:500 2 50%
  1:100 1:400 3 8GB Disk
  $10 1:500 2 40% Bonus
  $100 1:200 3 $25 Bonus
$5,000 1:100 1.5
$10 1:100 0 100% Bonus
  $2,500 1:200 2
$5 1:500 1 20% Bonus
$50 1:400 2 up to $10,000
  $100 1:500 1 10% Bonus