📈 Popular:

Broker of the month

Top 27 Regulated Forex Brokers

Forex No Deposit Bonuses


⚡ Easily Trade – Apple, Microsoft , Tesla and Google Stocks – Open a FREE Account Here

Best Brokers

1st Place

2nd Place

3rd Place

4th Place

5th Place

AusForex Islamic Account

Ausforex Islamic Account


Overall Rating


Rated #276 of
Recommended FX Brokers

💰Minimum Deposit

USD 1000

🌐 Regulators


📱 Trading Desk

MetaTrader 5



📈 Total Pairs


☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


Yes, AusForex Islamic Account offers an Islamic account for Muslim faith traders including a swap-free account. The Islamic forex trading environment is ideal for traders following strict sharia law with a fixed fee instead of swap. The fee is not an interest and depends on the direction of the order.


Finding a reputable list about AusForex Islamic account local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth Islamic Account Review regarding this regulated Forex company, which will assist Islamic traders to make an informed decision when it comes to Swap-Free Islamic Accounts.



AusForex is an Australian forex broker company, now based in London.

As a Forex broker the company provides traders with access to platforms that allow them to buy and sell foreign currencies. Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders, in turn, use these brokers to gain access to the 24-hour currency market for speculation purposes.

Forex broker services are also provided for institutional clients and large companies such as investment banks.

AusForex was founded in Melbourne, Australia in 2003 and approved by the Australian Securities and Investments Commission (ASIC) in 2005.

The company relocated its headquarters to the United Kingdom in 2015 to better serve the global market. With the move, AusForex also obtained regulation by the United Kingdom Financial Conduct Authority (FCA), as well as supervision by the Hong Kong Securities and Futures Commission (SFC) and the Cyprus Securities and Exchange Commission (CySEC).

As a leading online trading broker, AusForex offers online dealing services to private investors, institutions, banks, and brokerages. They specialize in Foreign Exchange (Forex) and Contracts for Difference (CFDs), and clients enjoy 24-hour access to all global financial markets via the provided MetaTrader 4 and MetaTrader 5 trading platforms.

AusForex’s dedicated and experienced staff comes from varied international financial backgrounds, with lots of shared expertise and knowledge to make available to clients.

AusForex maintains offices in London, Cyprus, Beijing, Shanghai, Malaysia, and Vancouver but does not offer services to clients located in Japan, Iran, Cuba, Sudan, Syria, Belgium, and North Korea.


What exactly is an Islamic Account?

An Islamic Account, for the greater part as offered by most brokers, is not a standalone account, although some brokers dedicate one account to be an Islamic or Swap Free account, in most cases, this is an option offered by especially Forex brokers.

Islamic Accounts are also provided by brokers who serve Middle Eastern clients along with clients from other jurisdictions and offer certain features that are in line with Sharia law, which prohibits the accrual of interest on funds deposited into the account.

The other important feature of an Islamic Account is that transactions must be settled immediately, requiring that currencies be transferred from one account to the other right after the transaction has been completed and therefore paid for in full.

Two key elements of the Islamic law relate specifically to trading accounts, these elements are:

  • Riba, and
  • Gharar


Riba is the prohibition of generating money from money, which in this case specifically refers to an interest, which is not allowed according to Sharia law. This type of interest is seen as both unjust and exploitive gains about trade or business.


Which financial activities are restricted and prohibited by Sharia law?

Due to the restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following is affected greatly:

  • Overnight rollovers – which involve the incurrence or receiving of swap points on positions that are held open for longer after the trading day has concluded at the New York close at 5 PM EST which is prohibited by the Sharia law.
  • Margin deposits and interest – which involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
  • Loans – when followers of Sharia law have funds transferred by either a bank or other financial institution and it involves interest terms, this is prohibited by the Sharia law as per the key element, Riba.
  • Margin trading – stocks that are traded on margin result in the trader being liable for paying interest, which amounts to Riba, as money is borrowed from the broker to buy or sell such equities, and which is prohibited by the Sharia law.
  • Short sales – which affects mostly shares and involves borrowing and subsequent sale of an asset, which is prohibited.


Forward sales – which affects forward contracts as well as the trading of futures contracts which involves the buying and selling of contracts at a future date according to a price agreed upon on the day of entering into such a contract.


What are the steps involved in opening an AusForex Islamic Account?

Traders who are eligible for an Islamic Account must complete the live account application before they can apply for the Islamic Account. There may be certain documents, apart from proof of identity and residential address, that AusForex may require before approving an application for an Islamic account.


What are AusForex’s spread costs on an Islamic Account?

Traders can expect variable spreads.


Overall Rating


Rated #276 of
Recommended FX Brokers

💰Minimum Deposit

USD 1000

🌐 Regulators


📱 Trading Desk

MetaTrader 5



📈 Total Pairs


☪️ Islamic Account


📊 Trading Fees


🕒 Account Activation Time

24 Hours

🏛️ Visit Broker


What other features does AusForex’s Islamic Account have?

When making use of the AusForex Islamic account, traders can expect the following key features:

  • Interest is not charged on contracts that are held for more than 24-hours. There is a consistent zero rollover interest.
  • There are no additional rollover commissions where contracts are held for longer than 24-hours.
  • Accounts are activated with a minimum deposit requirement of $1 000.


Traders should take note that markets open on Sunday at 11 pm CET and close on Fridays at 11 pm CET. Also, there may be some restrictions and limits which apply to the Islamic Account.

Before registering an account, traders should ensure that they contact the Middle Eastern support desk to find out more regarding such restrictions and/or limits.


Pros and Cons

Regulated by several authorities High minimum initial deposit required
MT4 and MT5 offered Swap fees applicable
High leverage levels available Only two account type options


AusForex at a Glance

Broker’s name AusForex
Headquarters First Melbourne, Australia, now London, United Kingdom
Year founded 2003
Regulating authorities Financial Conduct Authority (FCA), the Hong Kong Securities and Futures Commission (SFC), Cyprus Securities and Exchange Commission (CySEC)
Countries not accepted for trade Japan, Iran, Cuba, Sudan, Syria, Belgium, and North Korea
Demo account Yes
Islamic account (swap-free) Yes
Institutional accounts Yes
Managed accounts Yes
Maximum leverage 1:500
Minimum deposit 1 000 USD
Deposit options Credit or debit cards, Wire transfer
Withdrawal options Credit or debit cards, Wire transfer
Platform(s) provided MetaTrader 4, MetaTrader 5
OS compatibility Mobile, Web
Tradable assets offered Forex, Index, Crude Oil, Gold and Silver, and CFDs. Forex trading includes popular currency pairs and some exotic options.
Languages supported on the website English, Chinese
Customer support languages English, Chinese
Customer service hours 24 hours per day, seven days per week



You might also like: AusForex Minimum Deposit

You might also like: AusForex Demo Account

You might also like: AusForex Fees and Spreads

You might also like: AusForex Account types

You might also like: AusForex Sign up Bonus




Trading Environment


How many instruments can I trade with AusForex?

You can trade several different instruments with AusForex, which include the following:

Forex, including popular currency pairs and some exotic options

  • Indexes
  • Crude Oil
  • Gold and Silver
  • CFDs


Which platforms are supported by AusForex?

AusForex provides the following popular trading platforms: MetaTrader 4 and MetaTrader 5.


Does AusForex offer leverage?

Yes, AusForex offers maximum leverage of up to 1: 500.


What spreads can I expect with AusForex?

AusForex offers variable spreads. On the STP account, it typically amounts to around 2.0 pips on EUR/USD, which is high, while on the ECN account it is significantly lower, about 0.5 pips on EUR/USD.


Does AusForex charge commission?

Yes. More information on commissions can be obtained from the customer support service.


Are there additional charges on the Islamic account?

Some brokers charge extra fees on Islamic accounts – are either in wider spreads, additional commissions, or administration fees to make up for money that they lose with not charging overnight fees.

New Islamic traders should enquire about these special conditions or extra fees before joining, because it is often overlooked or not indicated on the account features pages.


Is AusForex regulated and by whom?

AusForex is regulated by the Financial Conduct Authority (FCA), the Hong Kong Securities and Futures Commission (SFC), Cyprus Securities and Exchange Commission (CySEC).


Is AusForex a recommended forex trading broker for experts and beginners?

AusForex offers a fair-trading environment for all types of traders, but due to the high minimum deposit, it may appeal more to experts.


What is the overall rating out of 10 for AusForex?





What is the difference between a demo and a live trading account?

A demo account as is offered by broker companies like AusForex is usually funded with virtual money and allows a prospective customer to experiment with the company’s trading platforms and its features.


Does AusForex offer a demo account?



Can I convert my demo account to a live trading account with AusForex?

This is not clear from the information on the company homepage, but the demo account can be used for 30 days.


Which live trading accounts does AusForex offer?

  • STP Account
  • ECN Account


Does AusForex offer an Islamic Account?



What are the available deposit currencies for a live trading account?

Funds can be deposited in GBP, EUR, USD, AUD, and SGD.


Deposits and Withdrawals


What is the minimum deposit required to open an account with AusForex?

$ 1 000.


How do you make a deposit and withdraw money with AusForex?

AusForex offers the following deposit and withdrawal methods:

  • Credit or debit cards
  • Wire transfer
  • Neteller
  • Popular e-wallets like Skrill and Neteller are not supported.


Does AusForex charge withdrawal fees?

No, but fees from financial institutions may be applicable.


How long does it take to make a withdrawal?

Card deposits are processed real-time, but wire transfers can take five business days or so. Withdrawals can be done with the same methods and withdrawal fees for all card methods are listed as free.




Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

You might also like

IEXS Minimum Deposit

IEXS has a minimum deposit requirement of only $ 200. This minimum deposit amount is equivalent to ZAR 3,533.16 at the current exchange rate between

FXOpen Fees and Spreads

  FXOpen fees, spread, and commissions start from US Dollar 1.5 with spreads from 0.0 pips. FXOpen has a low and incredibly competitive spread when

Best Forex Trading Apps for Android

Forex trading apps make it easy to trade currencies on the go using a mobile device. In today’s globally interdependent economy, knowledge of the foreign