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Forex

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.  



Forex

Islamic Forex Broker

Broker Country Regulation Platforms Min.deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Belize IFSC MT4, MT5, Web $1 Review Website
Seychelles FinaCom MT4 $10 Review Website
Australia ASIC MT4, MT5,
cTrader
$200 Review
UK, Cyprus FCA, CySEC MT4 - Review
UK, Australia FCA, ASIC MT4, MT5, Web,
Mirror Trader
$1 Review
Cyprus CySec MT4, Web $50 Review
UK FCA MT4 $200 Review
New Zealand FMA MT4 $200 Review
Malta MFSA MT4, Mirror
Trader
,
Currenex
$250 Review
UK FCA MT4, VertexFX,
Straticator
$500 Review
UK, Australia FCA, ASIC MT4 $250 Review
UK, Cyprus FCA, CySec MT4, cTrader $20 Review
Cyprus CySec MT4, Web,
NetStation
$100 Review
UK FCA MT4, cTrader No Review
UK FCA MT4, Web,
Prodigy
$500 Review
BVI FSC VT Trader $250 Review
Ireland, Australia, Japan, South Africa ASIC, Central Bank of Ireland MT4, AvaTrader $100 Review
Cyprus, Belize CySec MT4, MT5,
cTrader
$1 Review
Montenegro No MT4, MT5,
Streamster
$1 Review
UK FCA MT4, Vertex $20 000 Review
Belize IFSC MT4, MT5, Web,
Mirror Trader
$200 Review
Cyprus, UK CySEC, FCA eToro
WebTrader,
eToro OpenBook
$50 Review Website
Bulgaria FSC MT4, Web, Delta
Trading
$100 Review
UK FCA MT4 $1000 Review
Cyprus, Russia, Belarus CySec, CBR, NBRB MT4, Rumus,
StartFX,
Libertex
$31 Review
Cyprus CySEC, FSB Sirix Web,
Mobile
$100 Review
Cyprus, BVI CySEC, BVIFSC Proprietary $100 Review
BVI FSC MT4 $1 Review
UK, Cyprus, Australia, Estonia FCA, CySEC, ASIC, EFSA MT4, MT5, Web,
Mobile
$200 Review
Australia, UK ASIC MT4, MT5,
cTrader
$200 Review
Cyprus N/A MT4, Web $50 Review
$2500 Review
Belize IFSC MT4, cTrader $200 Review
Cyprus CySEC MT4, Web,
NetTradeX
$1 Review
Cyprus, UK FCA, CySEC MT4 $2000 Review
UAE, Hong Kong Central Bank of UAE MT4, Orex Prime $100 Review
UK, Seychelles FCA MT4, Web, MT4
for Mac
$25 Review
UK FCA MT4, Web,
Tradable
$250 Review
UK FCA MT4, PIPTRADE
Webtrader
$50 Review
St. Vincent and the Grenadines No MT4, SoloTrader $20 Review
Cyprus CySEC MT4 $500 Review
Marshall Islands No MT4 $10 Review
Cyprus CySEC MT4 $5 Review
Cyprus CySEC MT4 $250 Review
Seychelles N/A MT4 $1 Review
New Zealand FMA MT4 $200 Review
UK FCA MT4, Web $1 Review
Cyprus CySEC MT4 $500 Review
Cyprus CySEC MT4 $500 Review
Cyprus CySEC MT4 $500 Review
SVG, Hong Kong, Russia Financial Commission MT4, Web,
xStation
$1 Review
UK, Cyprus FCA, CySEC MT4 $300 Review
Malta MFSA MT4, Web, NSFX
Pro
$300 Review
Belize, SVG IFSC MT4, MT5, Web $1 Review
Mauritius FSC MT4 $1 Review
Cyprus CySEC MT4, Web $500 Review
Cyprus CySEC MT4, Web $100 Review
New Zealand FMA MT4 $50 Review
N/A N/A MT4, Web $1 Review
New Zealand FMA MT4 $200 Review
Belize IFSC MT4 $100 Review
Cyprus CySEC Web,
CrowdTrader
$100 Review
Cyprus CySEC MT4, ParagonEx
Web Trader
$100 Review
UK FCA MT4 $500 Review
Cyprus CySEC MT4, Web $25 Review
Cyprus CySEC MT5 $100 Review
Marshall Islands N/A MT4, Sirix Web
Trader
$500 Review
Cyprus CySEC MT4 $500 Review
Cyprus CySEC MT4 $100 Review
Cyprus CySEC MT4 $1000 Review
Cyprus CySEC MT4, Web $200 Review
Cyprus CySEC eToro
WebTrader,
eToro OpenBook
$50 Review
Cyprus CySEC MT4 $1 Review
UK FCA MT4, Web $500 Review
UK FCA MT4 $5 Review
UAE SCA MT4, Currenex,
EOS Trader
$100 Review
Indonesia BAPPEBTI MT4 $500 Review
Cyprus CySEC MT4, Web $200 Review
Australia ASIC MT4, Web $200 Review
Indonesia BAPPEBTI MT4 $200 Review
Cyprus CySEC Web $100 Review
Cyprus CySEC MT4, Web $100 Review
Cyprus CySec MT4, Currenex $100 Review
Cyprus Cysec MT4, WebTrader $250 Review
Vanuatu VFSC, FinaCom MT4 $500 Review
Belize IFSC MT4 $1 Review
St. Vincent and the Grenadines No MT4 $1 Review
Cyprus CySec MT4, Web $500 Review
Cyprus CySEC MT4, Simple
Trader
$50 Review
New Zealand N/A MT4, Web $100 Review
US NFA, CFTC MT4, PathFinder
Trader
$2,000 Review
St. Vincent N/A MT4, MT5, Web,
cTrader
$100 Review
Vanuatu N/A MT4 $1 Review
Russia Central Bank of Russia MT4, MT5, Web $1 Review
Australia, Cyprus ASIC, CySec WebTrader,
XTRADE
$100 Review
SVG N/A MT4 $10 Review
UK No MT4, FinPro
Station,
Zulutrade
$5 Review
BVI BVI Financial Services Commission MT4 $500 Review
Marshall Islands N/A MT4 $10 Review
BVI FSC MT4 $50 Review
Georgia NB of Georgia MT4 $250 Review
Vanuatu N/A MT4, Web $200 Review
Marshall Islands N/A MT4, xStation $20 Review
SVG N/A MT4 $10 Review
Marshall Islands N/A MT4 $10 Review
St. Vincent and the Grenadines N/A MT4,
NetStation,
ClearPro
$10 Review
Vanuatu, UK, SVG Vanuatu Financial Services Commission MT4 $100 Review
SVG N/A MT4 $500 Review
Dominica N/A MT4, cTrader $500 Review
SVG N/A MT4 $100 Review
SVG No MT4 $10 Review
Marshall islands No MT4 $500 Review
Belize IFSC MT4, Web,
JTrade
$20 Review
Belize N/A MT4, MT5,
cTrader
$5 Review
Belize IFSC MT4, Web $500 Review
Dominica N/A MT4, Web $50 Review
Belize IFSC MT4 $50 Review
UK None MT4 $10 Review
SVG N/A MT4, SFX Web $300 Review
Seychelles No MT4 $100 Review
Marshall Islands None MT4, Web,
xStation
£/€/$250 Review
UK None MT4, Web $5 Review
Estonia None MT4 $250 Review
UK None MT4, Web, Sirix $2000 Review
UK N/A MT4 $10 Review
Seychelles None MT4 $250 Review
Cyprus None MT4 $/€250 Review
Malta None MT4 $100 Review
Hong Kong None MT4 $50 Review
UK None MT4 $200 Review
UK None MT4 N/A Review
SVG None MT4 $500 Review
Dominica N/A MT4, Sirix web $1000 Review
Vanuatu VFSC MT4 $100 Review
Vanuatu VFSC MT5 VFSC Review
Belize IFSC MT4 $10 Review
Australia, Vanuatu VFSC MT4, Vertex,
Fortex
$100 Review
Vanuatu VFSC MT4 $10 Review
SVG N/A MT4 $5 Review
Cyprus N/A MT4, Sirix $100 Review
Kuwait N/A MT4 $100 Review
Kuwait CMA MT4 $0 Review
Vanuatu VFSC MT4 $100 Review
Vanuatu VFSC MT4, Web $100 Review
Vanuatu, SVG VFSC, FSA MT4, Web $200 Review
Kuwait CMA MT4 Review
Cyprus CySEC MT4, Web $1000 Review
Lebanon Central Bank of Lebanon MT4 $100 Review
SVG FSA SVG MT4 $25 Review
Malaysia None MT4 $100 Review
Anguilla No MT4, ActTrader $500 Review
SVG N/A MT4 $100 Review
Vanuatu VSCF MT4, Web $1 Review
Vanuatu VFSC MT4, Web $100 Review
Cyprus CySEC (license renounced) MT4 $500 Review
UAE MT4 $100 Review
SVG N/A MT4, Web $100 Review
UK N/A MT4, Web $500 Review
Vanuatu VFSC MT4, Web $250 Review
Belize IFSC MT4 $1 Review
Vanuatu VFSC MT4 $100 Review
Marshall Islands N/A sirix $250 Review
$5,000 Review
UK N/A MT4 $100 Review
Not disclosed No MT4 $1 Review
Vanuatu VFSC MT5 None Review
Vanuatu VFSC MT4 $100 Review
Dominica N/A MT4 $10 Review
Vanuatu None MT4 $10 Review
Belize N/A MT4 $500 Review
UAE N/A MT4 $50 Review
SVG N/A MT4 0.02 BTC Review
Belize N/A MT4 $1 Review
South Africa N/A MT4 $250 Review
Vanuatu VFSC MT4 $300 Review
Bulgaria N/A MT4 $250 Review
Cyprus CySec MT4 $5 Review
UK, Georgia No MT4, Web 100 Review
Mauritius FSC ActTrader $100 Review
Seychelles N/A MT4 $10000 Review
Hong Kong N/A MT5 $50 Review
Romania None Web $500 Review
UK N/A MT4 $0 Review
Vanuatu N/A MT4 $100 Review
UK None ActTrader $500 Review
Vanuatu None MT5 $200 Review
Dubai None MT4 $500 Review
Not disclosed No MT4 $100 Review
SVG FSA MT4 $10 Review
Dominica N/A No info $250 Review
UK N/A MT4 $100 Review
SVG N/A MT4 $1 Review
Anguilla N/A Sirix $500 Review
Saint Vincent and The Grenadines N/A MT4 $500 Review
UK N/A MT4 $1000 Review
UAE N/A MT4 No info Review
Vanuatu VFSC MT4, Vertex $200 Review
Seychelles N/A MT4, Sirix Review
UAE N/A MT4 N/A Review
Estonia N/A MT4 $100 Review
BVI FSC MT4, Web $5 Review
US N/A UTIP $10 Review
Vanuatu VFSC MT4 $100 Review
Vanuatu VFSC MT5 $1000 Review
SVG N/A MT4 $100 Review
SVG FSA of SVG MT4 $10 Review
UK N/A MT4 $500 Review
SVG None MT4 $200 Review
Cyprus N/A Sirix web $500 Review
Ireland None MT4 $100 Review
UK, Marshall Islands N/A MT4, Web $200 Review
Cyprus No Web, AsiaFxi $100 Review
New Zealand FMA MT4, Web $100 Review
New Zealand FMA MT4 $10 Review
UK N/A MT4 $50 Review
Georgia N/A MT4 $100 Review
UAE N/A MT4 $10 Review
Forex

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