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17 Best Swap Free (Islamic) Forex Accounts

Best-Swap-Free-Islamic-Forex-Broker-Accounts-and-Platforms

 

In this list of 17 Best swap free (Islamic) Forex Accounts you will find brokers that are established and well-regulated to safeguard you, while looking after your interests when Forex trading according to Islamic Shariah law.

 

10 Best Swap Free Islamic Forex Brokers

 

Swap-Free (Islamic) Forex Accounts

 

As more and more people start to participate in retail Forex trading and it becomes more popular, many Muslims are asking if it is “haram” (forbidden) or “halal” (permissible) for them to participate in Forex trading.

As the Muslim population represents a quarter of the world’s population and a sizeable market, many Forex brokers are beginning to realize the importance of clearing the air on this issue.

 

A swap free trading account is a Forex trading account that is allowed by Islamic Shariah law.

 

In Sharia law it is not allowed to have any interest applied for an overnight position. This is important for Muslim traders because Sharia law forbids Muslims from charging and paying interest on a loan.

 

Fortunately, swap free accounts are considered acceptable due to the fact that there is no interest applied, and commerce and trading has always been an activity that has been encouraged by Islam

 

So, how is it that a swap free trading account can work without overnight interest?

 

Normally, for positions held overnight the Forex broker will retain a portion of the interest swap as handling charges.

 

In the case of the swap-free account, the broker charges a fixed commission against the trader’s account balance instead of taking a portion of the rollover interest swap.

 

Alternatively, the broker may just increase the spreads on trades on this type of account.

 

The trader will then not be charged any interest or get to earn any interest on his trade, and since no swaps were involved, this type of trading account is called a swap free account.

 

The following are a list of great brokers that offer a swap free or Islamic account.  They are not listed in any particular order or ranking but is just a list of the top 17 brokers with these types of accounts.

 

Alpari

 

Overall Rating

4.7/5

Rated #70 of 
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FSC 

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Alpari was established in 1998 and relaunched in 2014. They are based in and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius.

 

Alpari gives their traders access to more than 250 markets in Forex, Stocks, Indices, Metals and Cryptocurrencies.

 

They offer both the MetaTrader 4 and MetaTrader 5 platforms on Desktop, Web and Mobile formats.

 

Both beginner and experienced traders will find a good fit with Alpari with demo accounts and educational resources as well as boasting more than US Dollar 1.3 trillion in trading turnover per year.

 

Features

 

  • Max leverage of 1000:1
  • Over 60 Forex currency pairs and crosses available for trading
  • Choice between ECN and market-maker execution models
  • Regulated by an offshore industry center (FSC Mauritius)

 

Pros and Cons

 

Pros Cons
Demo Accounts and Social Trading Limited educational resources
Great copy trading broker Lack of resource tools
Diverse selection of tradeable assets High fees
Good support in over 30 languages Withdrawal fees
Low minimum deposit

 

FXTM

 

Overall Rating

4.6/5

Rated #32 of
Recommended FX Brokers

💰Minimum Deposit

USD 10

🌐 Regulators

CySec, FSCA 

📱 Trading Desk

MetaTrader4, Metatrader 5

Crypto

Yes

📈 Total Pairs

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXTM is a licensed and well-regulated broker worldwide, from the UK, South Africa, Belize, Cyprus and Mauritius as examples.  They also boast an impressive list of awards.

 

FXTM was founded in 2012 with offices in major cities like London, Germany, Poland, France, Spain, Italy, Turkey, China, Thailand, South Korea, Malaysia, India and Nigeria. All central operations are directed from FXTM’s five story tower located in Cyprus.

 

FXTM offers tight spreads, trading in all currency pairs as well as a wide range of other financial products and derivatives.

 

Features

 

  • Allows hedging
  • Great selection of educational tools
  • Low stock index CFD fees
  • Spreads as low as 0.1 pip for a standard account
  • 0 pips for ECN based trading accounts

 

Pros and Cons

 

Pros Cons
Low minimum deposit Inactivity and withdrawal fees
Fantastic Customer Service High CFD fees
Fast and easy account opening Limited product portfolio
Well-regulated Broker
Very competitive Forex fees

 

FP Markets

 

Overall Rating

4.7/5

Rated #23 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, CySEC

📱 Trading Desk

MT4, MT5

Crypto

Yes

📈 Total Pairs

60

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FP Markets is an Australian CFD and Forex broker that was founded in 2005 and is regulated by the Australian ASIC and the Cypriot CySEC.

 

They offer MT4, MT5 platforms as well as over 50 Currency Pairs, Gold, Silver, CFDs, Indices, Stocks and Cryptos to trade with.

 

Features

 

  • Leverage is 500:1 when trading currency.
  • Offer Direct Markets Access (DMA)
  • ASIC & CySEC Regulated broker
  • Demo Account for beginning traders
  • 50 plus currency pairings to trade

 

Pros and Cons

 

Pros Cons
Easy and fast account opening Limited product portfolio
Low trading fees High CFD fees
Fast execution of trades High minimum deposit
Low Forex fees High fee for international bank withdrawal
Good platform options

 

XM

 

Overall Rating

4.5/5

Rated #68 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

IFSC, CySec, ASIC

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

55

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XM

 

XM Global was established in 2017 and offers more than 1000 financial instruments which includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.

 

XM is regulated by the International Financial Services Commission. They off over 55 currency pairs for Forex trading.

 

XM offers 2 trading platforms which are accessible from both real and demo accounts; both MetaTrader 4 and MetaTrader 5, the most widely used platforms in trading.

 

They are an award winning firm with some of their recent awards being: Best FX Service Provider for 2022 awarded by City of Wealth Management Awards 2022; Best Customer Service Global 2019 awarded by Capital Finance International Magazine; Best Market Research and Education Global 2019 awarded by Capital Finance International Magazine; and Best FX Service Provider awarded by City of London Wealth Management Awards 2019.

 

Features

 

 

Pros and Cons

 

Pros Cons
Low withdrawal fees Inactivity fee
Easy and fast account opening Average Forex fees
No withdrawal fee
Low min deposit
Great educational tools and resources

 

 

GO Markets

 

Overall Rating

4.9/5

Rated #34 of
Recommended FX Brokers

💰Minimum Deposit

$200

🌐 Regulators

ASIC, CySec, FSC, FSA and SCA

📱 Trading Desk

Hybrid

Crypto

Yes

📈 Total Pairs

600

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

GO Markets, established, in 2006, is one of the leading and trusted Australian regulated brokers and was established in 2006.  They have offices in Melbourne, London, Taipei and Hong Kong.

GO Markets currently offers more than 350 tradeable CFD instruments including Forex, Shares, Indices and Commodities and Cryptocurrencies.

 

Features

 

  • Allows hedging
  • Allows scalping
  • Offers STP
  • Regulated by ASIC
  • Offers Negative Balance Protection
  • Used by over 10,000 traders

 

Pros and Cons

 

Pros Cons
Ultra-fast trade executions Only two account types available
Innovative technology Clients from many jurisdictions not accepted
Great trading and analysis tools Not available in the US
Highly regulated broker Limited range of instruments

 

AvaTrade

 

Overall Rating

4.8/5

Rated #1 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

ASIC, FSA, CBI, BVI,FSCA,FRSA,CYCES, ISA, JFSA

📱 Trading Desk

MetaTrader 4, MetaTrader 5, Ava Social, Ava Protect, Trading Central

Crypto

Yes

📈 Total Pairs

55+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

AvaTrade was founded in 2006 with headquarters in Dublin, Ireland. They also have offices around the world, located in Japan, Australia, Ireland, and the British Virgin Islands with sales offices also in Paris, Milan, Madrid, Mongolia, Beijing, Nigeria, Santiago, and Johannesburg.

AvaTrade offers more than 250 instruments which include major Stock Indices, Cryptocurrencies, Commodities, Bonds, Individual Shares and ETFs as well as more than 60 Currency Pairs.

They are highly regulated in Europe, the British Virgin Islands, Australia, Japan, and South Africa.

 

Features

 

  • EA compatibility and Automated trading platforms
  • Segregated accounts for increased security
  • MetaTrader 4, MetaTrader 5 and AvaTradeGO on multiple devices
  • Competitive spreads offering
  • Trading websites in more than 20 languages

 

Pros and Cons

 

Pros Cons
Easy and fast account opening Limited research tools
Great educational tools Poor support telephonically
No withdrawal fee Administration fee
Free deposit and withdrawal options Inactivity fee
Low trading fees

 

Exness

 

Overall Rating

4.9/5

Rated #2 of 
Recommended FX Brokers

💰Minimum Deposit

$10

💰Sign-up bonus

No

🌐 Regulators

CBCS, CySEC, FCA, FSA, FSC, FSCA

📱 Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

📈 Total Pairs

97

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker Website

 

The Exness Group, founded in 2008, is a St. Petersburg, Russia based brokerage firm.

 

They offer access to more than 120 financial instruments to trade across which include Forex, Crypto, Stocks and Indices. In Forex they offer 120 currency pairs to choose from.

 

The Exness Group has a monthly trading volume of more than US Dollar 180 billion, as well as 15,000 new accounts opened each month, with more than 80,000 active traders.

 

They have licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.

 

Exness’s website is available in 23 different languages including English, Chinese, Russian, Vietnamese, Farsi, Hindi, Urdu, Tamil, Thai, Bengali, Indonesian, and Malay with 24/5 customer support in 13 languages.

 

Features

 

  • Very cool user friendly and modern website
  • Tight spreads from 0.1 pips
  • No hidden commissions or fees
  • Instant withdrawal of funds
  • Client funds kept in segregated accounts
  • Tight spreads
  • Copy trading system

 

Pros and Cons

 

Pros Cons
Customer support in many languages Inactivity and withdrawal fees
Commission free trading High CFD fees
Access to Forex ECN trading Not available in the US
120 Currency pairs to trade from
Offshore regulation

 

HotForex

 

Overall Rating

4.8/5

Rated #6 of
Recommended FX Brokers

💰Minimum Deposit

USD 5

🌐 Regulators

CySEC, FCA, FSA, DFSA, FSCA, CMA

📱 Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

No

📈 Total Pairs

50+

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

HotForex is a Cyprus based broker that was founded in 2010. It has several global satellite offices in Dubai, South Africa and offshore entities in St Vincent and the Grenadines.

The company was listed as on the Top 100 Companies by World Finance Magazine and they received the award for Business Excellence in 2015.

Users can access 150+ trading instruments across Forex, Commodities, Indices, Shares, Bonds and Cryptocurrency CFDs over 6 core trading accounts. Commission-free trading for Forex pairs is offered on every account.

 

Features

 

  • Known for great technology
  • Numerous industry awards garnered
  • Great range of markets
  • Regulated by ASIC, CySEC, FCA
  • Offers Negative Balance Protection
  • Additional Civil Liability Insurance
  • Lots of premium MetaTrader tools offered

 

Pros and Cons

 

Pros Cons
Fast, easy, fully digital account opening Only Forex and CFD products
Low minimum deposit Two of their entities are unregulated
Commission free accounts available Only 56 shares available
Low Forex fees
Competitive spreads

 

eToro

 

Overall Rating

4.8/5

Rated #20 of
Recommended FX Brokers

💰Minimum Deposit

USD 50

🌐 Regulators

CySec, FCA 

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

47

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

* Etoro has lowered the amount of the minimum FTD to $ 50 for the following countries: Germany, Austria, Netherlands, Norway, UK, Ireland, Spain, Italy, Sweden, Switzerland.

 

eToro is a brokerage firm based in Tel Aviv, Israel and founded in 2007.  eToro made its name on its social investing platform that allows users to copy the trades of other investors.

 

In fact, in the eToro social community, traders can become “leaders” and earn from leading other traders that follow and copy their trades.

 

The firm started off as a broker that only offered Forex trading and has since expanded its product offerings to include Cryptocurrencies, Commodities, Stocks and Market Indices and now boast more than 10 million users in 140 countries worldwide

 

Features

 

  • Premier Social trading/Copy trading platform and community
  • Huge cryptocurrency offering
  • Robust charting
  • 10 million traders worldwide
  • Offers access to 15 cryptocurrencies
  • Free stock and ETF trading in Europe

 

Pros and Cons

 

Pros Cons
Fully digital account opening Withdrawing money is slow and costly
Low CFD fees High Forex fees
No deposit fee Only one account base currency used
Service is fast Withdrawal fee
Low minimum initial deposit  No streaming news

 

XTB

 

Overall Rating

4.6/5

Rated #69 of
Recommended FX Brokers

💰Minimum Deposit

USD 250

🌐 Regulators

FCA, CySEC, IFSC, KNF

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

48

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

XTB

 

XTB, founded in 2002, has offices in more than 13 countries including the UK, Poland, Germany, France and Turkey with headquarters based in London and Warsaw.

 

They offer CFD, Crypto and Forex trading.

 

XTB has a great range of financial instruments for both its standard and pro account types.

 

Features

 

  • Award winning platform
  • Lots of educational materials offered
  • Regulated by top-tier FCA
  • Fully digital account opening and trading
  • Offers Negative Balance Protection

 

Pros and Cons

 

Pros Cons
Easy and fast account opening Limited product portfolio
Free and easy deposit and withdrawal Poor email support
Low trading fees High fee for stock CFD
No withdrawal fee
Low Forex and stock index CFD fees

 

AxiTrader

 

Overall Rating

4.6/5

Rated #70 of
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ASIC, DFSA, FCA, FSA

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

66

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Axi

 

AxiTrader is an Australian based company founded in 2007. They also have offices in London, which were opened in 2012.

They offer more than 40,000 registered traders in over 100 countries and boasts a monthly client trading volume of around US Dollar 100 billion.

 

Features

 

  • Allows hedging
  • Low spreads starting from 0.0 pips
  • Allows scalping
  • Strong leverage up to 400:1
  • Wide range of Forex Markets
  • Award winning customer service

 

Pros and Cons

 

Pros Cons
No Deposit and withdrawal fees Only offers Forex and CFDs
Fully digital account opening Limited research tools
No inactivity fees Slow email support
Low Forex fees
No minimum deposit

  

IC Markets

 

Overall Rating

4.7/5

Rated #37 of
Recommended FX Brokers

💰Minimum Deposit

USD 200

🌐 Regulators

ASIC, CySEC, FSA, SCB

📱 Trading Desk

MetaTrader 4

Crypto

Yes

📈 Total Pairs

65

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

International Capital Markets Pty Ltd (IC Markets) was founded in 2007 with a team of financial professionals who had the vision to bridge the gap existing between retail and institutional clients.

 

One of the ways they do this is by being an ECN broker, which means that there is a no-dealing-desk.

 

This also means IC Markets offer tight spreads in its offering of 63 Forex pairs and 41 CFDs on Indices, Metals, Cryptocurrencies and Futures

 

IC Markets is regulated by the Australian Financial Services License (AFSL) and with the Australian Securities and Investment Commission (ASIC) in 2009.

 

IC Markets offers several trading platforms to choose from including MetaTrader4 (MT4) and MetaTrader 5 (MT5), as well as the suite of cTrader platforms.

 

Features

 

  • High level web security
  • Great variety of Educational materials
  • Selection of sophisticated trading platforms
  • Low min deposit
  • True ECN broker with institutional grade liquidity
  • Wide range of tradeable products
  • Good customer service with 24/7 support

 

Pros and Cons

 

Pros Cons
Easy and fast account opening No investor protection
Low Forex fees Only Forex, CFD, and crypto trading
Free deposit and withdrawal Lack of research tools
Low Forex fees

 

FXCM

 

Overall Rating

4.6/5

Rated #26 of
Recommended FX Brokers

💰Minimum Deposit

USD 300

🌐 Regulators

FCA, FSCA

📱 Trading Desk

MetaTrader 4, Trading Station

Crypto

Yes

📈 Total Pairs

7

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FXCM is a UK-based broker that also have offices in the UK, Germany, Australia, France, Italy, Greece, Hong Kong, and South Africa with affiliated offices in Canada and Israel.

 

FXCM was founded in 1999, and it has grown to be one of the leading providers of online trading and is known for fast trade executions and advanced and innovative technology.

 

Users can trade on FXCM’s proprietary Trading Station platform for Desktop, Web and Mobile, as well as on MetaTrader 4, NinjaTrader and ZuluTrade.

 

The broker also offers access to other platforms such as QuantConnect, MotiveWave, AlgoTerminal, Sierra Chart and others as well.

 

Features

 

  • A huge offering of platforms including their proprietary Trading Station
  • Wide range of tradeable markets, research and educational resources
  • Top notch charting and technical analysis tools
  • Great technical research tools
  • High quality educational tools

 

Pros and Cons

 

Pros Cons
Low Stock and ETF fees Limited product portfolio
Fast and easy account opening Poor mobile platform
Low trading fees High AUD/USD trading fee
No withdrawal fee
Excellent charting and tech analysis tools

 

FxPro

 

Overall Rating

4.7/5

Rated #202 of
Recommended FX Brokers

💰Minimum Deposit
USD 100 (recommended amount USD 1000)
🌐 Regulators

FCA, CySEC, FSCA, SCB

📱 Trading Desk

MT4

Crypto

Yes

📈 Total Pairs

70

☪️ Islamic Account

Yes

📊 Trading Fees

High

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

FxPro UK was founded in 2006 and is a subsidiary of FxPro Group Limited.

 

They boast over 870,000 client accounts in 173 countries and are regulated by the FCA and CySEC, and FSB (FSCA).

 

FxPro offer incredible execution speeds, with an average execution time of less than 11.06 milliseconds and it processes approximately 7 000 orders per second.

 

They also boast over 70 international and UK awards in total to date which include:

  • International Investor Magazine, 2019, Most Reliable Broker of the Year
  • Online Personal Wealth Awards, 2019, Best FX provider of the Year
  • Best Tablet Application 2019, Online Personal Wealth Awards
  • Global Forex Awards, 2019, Best European Value Broker of the Year
  • Global Forex Awards, 2019, Best Global Forex Introducing Broker Programme,
  • Best MetaTrader Broker 2019, ForexBrokers com
  • Best in Class of Commissions & Fees, ForexBrokers com
  • 5-stars MetaTrader Broker 2019, ForexBrokers com

 

Features

 

  • No dealing desk and very fast execution of trade speeds
  • Company capital in excess of 1 million British Pounds
  • Incredibly fast execution speeds
  • No dealing desk
  • Winner of Multiple awards
  • Good customer service with 24/7 Support

 

Pros and Cons

 

Pros Cons
Wide selection of market instruments No investor protection
Segregated accounts Doesn’t offer its services in all countries
Highly regulated
Range of account types
Little to zero commissions charged

 

ThinkMarkets

 

Overall Rating

4.8/5

Rated #62 of 
Recommended FX Brokers

💰Minimum Deposit

USD 0

🌐 Regulators

ASIC, FCA, FSCA, FSA-Seychelles, CySEC, JFSA 

📱 Trading Desk

No Trading Desk

Crypto

Yes

📈 Total Pairs

46 FX Pairs

☪️ Islamic Account

Yes

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

Derivative products are leveraged products and can result in losses that exceed initial deposits.

 

ThinkMarkets, an online Forex and CFD brokerage firm, was founded in 2010 and is based in London.

 

They also have offices in the Asia-Pacific, Middle East, North Africa, Europe and in South America.

 

ThinkMarkets keep the funds of clients in segregated accounts with top-tier banks such as Barclays, National Australia Bank as well as the Commonwealth Bank of Australia which prohibits the use of client funds for any reason.

 

They are heavily regulated and authorized by two of the strictest and most demanding regulatory and authorization entities within the UK and in Australia, namely the FCA and the ASIC as well as the FSCS (FSB) in South Africa, providing a good layer of protection.

 

Features

 

  • Segregates client funds
  • Highly regulated
  • Diverse technical research tools
  • Over 10,000 traders
  • Tightest possible spreads

 

Pros and Cons

 

Pros Cons
Low minimum deposit No fixed spread accounts
Advanced trading programs No web-based trading platform
Commission free accounts Commission charged for two account types
VPS service

 

Forex.com

 

Overall Rating

4.7/5

Rated #231 of
Recommended FX Brokers

💰Minimum Deposit

USD 100

🌐 Regulators

FCA, CySec 

📱 Trading Desk

Crypto

Yes

📈 Total Pairs

50

☪️ Islamic Account

No

📊 Trading Fees

Low

🕒 Account Activation Time

24 Hours

🏛️ Visit Broker

 

Forex.com was established in 2001 and is the brand name of GAIN Capital, which is listed on the New York Stock Exchange, and is a global FX and CFD brokerage firm.

 

Forex.com is regulated by the Financial Conduct Authority (FCA) in the UK or the US Commodity Futures Trading Commission (CFTC).

 

Forex.com has garnered many awards and in 2022 it has earned Best in Class (top 7) awards for numerous categories including Offering of Investments, Commissions & Fees, Education, Professional Trading, Crypto Trading, Ease of Use, and Overall.

 

They offer over 4,500 CFD instruments to trade with and they allow access to over 180 markets which include Forex Pairs, Stocks, Indices, Cryptocurrencies and Commodities.

 

Features

 

  • Over 40,000 traders
  • Regulated by several authorities
  • Diverse technical research tools
  • TradingView charts built into platform
  • Great mobile and desktop functionality

 

Pros and Cons

 

Pros Cons
Great variety of currency pairs Limited product portfolio
Fast and easy account opening High stock CFD fees
Fast execution of trades Higher spreads than some brokers
Low Forex fees No negative balance protection
No withdrawal fees Inactivity fee

 

 

Conclusion

Forex trading has experienced explosive growth all over the world, and this includes many countries which are primarily Muslim.

 

There are complications for those of the Islamic faith to trade as earlier discussed.

 

Brokers have recognized the demand in the Muslim population and in order to gain clients within the Islamic community, many of them have introduced accounts with No Swaps in order to make Forex trading halal.

 

Just make sure to research a broker thoroughly and make sure you understand what their particular swap free accounts offer, and how they make their profit instead of the normal overnight rollover.

 

Trading with a Forex Broker that offers Swap free accounts, isn’t necessarily cut and dry, however in this list of the 17 Best swap free (Islamic) Forex Accounts and brokers, you now have an excellent starting place to research the best Forex broker for your needs.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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