Islamic Account Forex Brokers
Islamic Finance is a specific method of financing and banking operations, which is based and sharply complies with the principles of the Islamic or Sharia laws, while guided by Islamic economics. Since the online trading is the expanding investment solution for the last decades, there was a need to apply Islamic laws to the trading industry as well, since by its nature it might be a forbidden type of investment. However, Islamic economists created specialized rules according to believe which should be followed, while trading itself became permitted.
- the Islamic finance industry developed global standards to a unique account – Islamic Account that enables worldwide traders of the Islamic religion to join international trading of global markets.
The primary principle in the Islamic trading process regulation is to avoid any harmful activities, mainly investments interest, along to restrict high-risk transactions which prohibit margin and derivatives trading. That also means that 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 while risks are minimized within the transactions and contracts. Recently, the increasing demand brings a wide range of offers throughout various Brokerage Companies, however Islamic worlds and mainly the Middle East still remains highly operated by the offshore and non-regulated companies. In this case, none of the specifications are able to protect trading accounts, thus it is a paramount priority to choose only among well-regulated Brokers which provide safety by the regulatory international requirements.
| Broker | Detail | |
|---|---|---|
 FXTM | Min. Deposit: US$200 Max. Leverage: 1:30 | 1:200 Trading Platforms: MT4, MT5, FTXM Trader Regulation: CySEC,FCA, FSCA | 1 |
 GO Markets | Min. Deposit: 200 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5, WebTrader Regulation: ASIC, CySEC | 2 |
 FP Markets | Min. Deposit: 100 US$ Max. Leverage: 1:500 Trading Platforms: IRESS, MT4, MT5 Regulation: ASIC, CySEC | 3 |
 Pepperstone | Min. Deposit: 200 US$ Max. Leverage: 1:30 | 1:500 Trading Platforms: MT4, MT5, cTrader Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN | 4 |
 BDSwiss | Min. Deposit: 100 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5, BDSwiss Webtrader and Mobile App Regulation: ESMA, CySEC, FSC, NFA, FSA | 5 |
 Axiory | Min. Deposit: 50 US$ Max. Leverage: 1:777 Trading Platforms: MT4, cTrader Regulation: IFSC | Axiory Review |
 HotForex | Min. Deposit: 5 US$ Max. Leverage: 1:30 | 1:1000 Trading Platforms: MT4, MT5 Regulation: CySEC, FCA, DFSA, FSCA | HotForex Review |
 BlackBull Markets | Min. Deposit: 200 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5 Regulation: FMA, FSA | BlackBull Markets Review |
 EightCap | Min. Deposit: 100 US$ Max. Leverage: 1:500 Trading Platforms: MT4, MT5 Regulation: ASIC | EightCap Review |
 GT.IO | Min. Deposit: 5 US$ Max. Leverage: 1:500 Trading Platforms: MT5, WebTrader Regulation: FSCA, SFSA | GT.IO Review |