Islamic Forex Account | Swap Free Forex Brokers

There are forex brokers that offer Islamic forex accounts to Muslim clients. Standard account holders are subject to paying or receiving interest (known as Swap) on their positions held overnight, a factor that falls under the practice of usury in Islamic law and is therefore a problem for Muslim traders.

Since the exchange must take place between two parties (or from hand to hand) and the lack of realization of the actual movement of the currency makes it a gamble under the usury law in Islamic law, Islamic account holders are not charged interest for positions held overnight. Islamic account traders can now participate in the forex market without worrying about transgressing the Sharia laws.

So as long as there are no breaches of Islamic laws, Muslim traders can trade comfortably and without worry. Below we mention the list of the best Islamic Forex brokers that offer Swap-free Islamic accounts to their clients.

FBS Broker

FBS offers Islamic trading accounts to all traders who do not wish to pay additional fees for an overnight position. In the Islamic account, the interest fees will remain zero regardless of your transactions. You can activate the interest-free trading feature once you have registered and verified your trading account.

Trade Forex, Metals, Energies, Stock, CFDs, Cryptocurrencies

Deposit and withdrawal via Bank wire, Credit Cards, PerfectMoney, Skrill, Neteller, Bitcoin, Tether

Licenses: CySEC, IFSC, ASIC, FSCA
Country: Cyprus
Year Founded: 2008

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FBS Broker Review

Exness Broker

Islamic Forex accounts at Exness are available to residents of Islamic countries that must follow Sharia laws; this is automatically detected by the system. This account removes all positive and negative interest rates affecting clients' trading activities and is available on Raw Spread, Zero, Standard, Cent, and Pro accounts.

Trade Forex, Metals, Energies, Stocks, CFDs, Cryptocurrencies

Deposit and withdrawal via Bank wire, Credit Cards, PerfectMoney, Skrill, Neteller, Bitcoin, Tether

Licenses: CySEC, FSCA, FCA, FSA
Country: Cyprus
Year Founded: 2008

Open EXNESS Islamic Account

EXNESS Broker Review

XM Broker

XM offers an Islamic account that is interest-free, with no spread increase, no upfront commission, and no re-quotes/hidden fees. Additionally, you can hold your position however you like since there is no time limitation.

Trade Forex, Metals, Energies, Stocks, CFDs, Cryptocurrencies

Deposit and Withdrawal via Bank Wire, Credit Cards, Skrill, Neteller, PerfectMoney, Bitcoin

Licenses: CySEC, IFSC, FCA, ASIC, DFSA
Country: Cyprus
Year Founded: 2008

Open XM Islamic Account

XM Broker Review

HFMarkets Broker

HFMarkets offers swap-free services on Cent, Premium, Pro and zero spread accounts. All services remain the same except for the removal of interest charges for maintaining overnight positions.

Trade Forex, Stocks, Metals, Commodities, Bonds, and Cryptos

Deposit and Withdrawal via Bank Wire, Credit Cards, Skrill, Neteller, PerfectMoney, Bitcoin, Tether

Licenses: DFSA, FCA, CySEC, IBC, FSC, FSCA, FSA
Country: Cyprus
Year Founded: 2010

Open HFMarkets Islamic Account

HFMarkets Broker Review

High-Risk Warning: Trading Forex (Foreign Exchange) and Contracts for Difference (Stocks, Stock Indices, Commodities, and Bonds) involve a high level of risk and may not be suitable for all investors as you may incur losses that exceed your deposit. We highly recommend that you carefully consider whether trading in the FX market is suitable for you. All the contents on this website are for your information only and do not constitute as investment advice. It is important that you fully understand the risks involved before you start trading.

Islamic Forex Accounts (Swap-free Forex Brokers)