Islamic Account Forex Brokers
- What is Islamic Forex Account Broker?
- Best Islamic Trading Brokers
- What is Islamic Account?
- What is Swap Rollover rate?
- Islamic Forex Brokers List
What is Islamic Broker?
Islamic Broker is Broker with Islamic Account designed for traders following Islamic Finance, which is a specific method of financing and banking operations based and compliant with the principles of the Islamic or Sharia laws, while guided by Islamic economics.
Islamic laws applied rules to the trading industry, since by its nature Forex in Islamic perspective might be a forbidden type of investment, and created specialized Islamic Account to enable worldwide traders of the Islamic religion to join international trading of global markets. Read about Islamic Trading via Wikipedia.
- The primary principle in the Islamic trading process regulation is to avoid any harmful activities, mainly avoid investments interest, restrict high-risk transactions which prohibit margin and derivatives trading. Also, the Islamic Broker Account should not apply swap or rollover commissions, or interest on overnight positions.
- Every broker that offers an Islamic Account must ensure that all rules are followed and risks are minimized. Recently, the increasing demand brings a wide range of respected Brokers offering Islamic Account, however Islamic worlds and mainly the Middle East still remains highly operated by the offshore and non-regulated companies which we recommend to avoid due to highest risk of scams.
💰 Rollover/ Swap | No |
📊 Spreads | Standard as offered by Broker |
📈 Trading Instruments | All, as offered by Broker |
💻 Trading Platform | MT4, MT5, cTrader, Proprietary platforms |
Best Islamic Trading Brokers
There are many leading Swap Free forex brokers offering Islamic accounts, here we select only the best one in the category.
- BDSwiss – Best Swap-Free Islamic Broker for Beginners 2022
- BlackBull Markets – Best Islamic Swap Free Broker 2022
- FP Markets – Best MT4 Islamic Account 2022
- HotForex – Best VIP Islamic Account Broker 2022
What is Forex Islamic Account?
Islamic Account is specifically designed account for traders who follow Islamic beliefs and offering adjusted trading conditions with no Swaps.
What is Swap Rollover rate?
Swap rates are overnight adjustment fees that are depending on the instrument you trade and might be negative or positive depending on the position sell or buy.
Islamic Forex Broker Malaysia
Most of the Brokers operation or accepting Malaysia clients offer Islamic or Swap Free accounts. You can check FP Markets, IG or XM.
List of Islamic Forex Brokers
These are the High Leverage forex brokers that are regulated and recommended for Trading:
Broker | Detail | |
---|---|---|
|
Min. Deposit: 100 US$ Max. Leverage: 1:30 | 1:500 Trading Platforms: MT4, MT5, BDSwiss Webtrader and Mobile App Regulation: CySEC, FSC, FSA |
1
|
|
Min. Deposit: 200 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5 Regulation: FMA, FSA |
2
|
|
Min. Deposit: 100 US$ Max. Leverage: 1:30 Trading Platforms: IRESS, MT4, MT5 Regulation: ASIC, CySEC |
3
|
|
Min. Deposit: 200 US$ Max. Leverage: 1:30 to 1:400 Trading Platforms: MT4, MT5, cTrader, TradingView Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN |
4
|
|
Min. Deposit: 5 US$ Max. Leverage: 1:30 | 1:1000 Trading Platforms: MT4, MT5 Regulation: CySEC, FCA, DFSA, FSCA, FSA |
5
|
|
Min. Deposit: 200 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5 Regulation: FMA, FSA |
BlackBull Markets Review |
|
Min. Deposit: 10 US$ Max. Leverage: 1:777 Trading Platforms: MT4, MT5, cTrader Regulation: FSC, FSC |
Axiory Review |
|
Min. Deposit: 1 USD Max. Leverage: 1:30 Trading Platforms: MT4, MT5, FBS trader, CopyTrade Regulation: CySEC, FSC, FSCA, ASIC |
FBS Review |
|
Min. Deposit: 100 US$ Max. Leverage: 1:30 Trading Platforms: MT4, MT5 Regulation: ASIC, SCB |
Eightcap Review |
|
Min. Deposit: No minimum deposit Max. Leverage: 1:30 | 1:500 Trading Platforms: MT4 Regulation: CySEC, VFSC |
FXCC Review |