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 a Broker with an 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 a specialized Islamic Account to enable worldwide traders of the Islamic religion to join international trading of global markets. Read about Islamic Trading via Wikipedia.
|💰 Rollover/ Swap
|Standard as offered by Broker
|📈 Trading Instruments
|All, as offered by Broker
|💻 Trading Platform
|MT4, MT5, cTrader, Proprietary platforms
Islamic Trading Platform
Trading in Islam is often considered haram, so traders who respect Quran should check brokers that offer Sharia-compliant trading accounts offered on their trading platforms. Also, read our findings on the Islamic Forex Account
- 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 Accounts, however Islamic world and mainly the Middle East still remains highly operated by offshore and non-regulated companies which we recommend avoiding due to the highest risk of scams.
|Islamic Account Advantages
|Islamic Account Disadvantages
|Trading in comply with Sharia Laws
|Some Broker charge high Fees to compensate the lack of Swap
|Enhanced Trading Transparency
|Limited Capacity for deversifying and hedging
|No Swap Fees
|Trading Islamic Stocks
|Traders can stay true to their ethics and Morals
Top 5 Islamic Trading Brokers
There are many leading Swap Free forex brokers offering Islamic accounts, here we select only the best one in the category.
- HFM – Best Overall Islamic Broker 2024
- BlackBull Markets – Best Low-Spread Islamic Broker 2024
- FP Markets – Best MT4 Islamic Account Broker 2024
- Eightcap – Best for Beginners Islamic Account Broker 2024
- BDSwiss – Best VIP Islamic Account Broker 2024
What is Forex Islamic Account?
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
Is Bitcoin halal in Islam?
The status of Bitcoin and other digital assets is not clarified in Sharia laws. While some Muslim scholars suggest investing in Bitcoin is halal, there will be some Muslims who will assert otherwise. So as long as Bitcoin trading doesn’t contravene any Islamic finance principles – it is halal.
List of Islamic Forex Brokers
This is our list of Best Islamic Forex Brokers that adhere to Sharia Laws:
No regulated broker available.