Best Islamic Forex Brokers | Halāl Islamic Forex Trading

Islamic Forex Brokers

Forex trading can be challenging for religion-abiding Muslims. However, solutions exist to trade currencies in a way that is ḥalāl. Compare the top 5 brokers with Islamic Forex accounts.


	Islamic Account ?	More
	MT4 Fixed ?	More
	MT4 Floating ?	More
	Micro Account ?	More
	Islamic Account ?	More
	Fixed Account ?	More
	Instant Execution ?	More
	Standard Account ?	More
	VIP Account ?	More
	Standard Account ?	More
	ECN Account ?	More
	FXTM Pro ?	More
	MT4 Fixed - Instant Exec. ?	More
	FxPro cTrader ?	More
	MT4 Floating - Instant Exec. ?	More
	MT5 Floating - Market Exec. ?	More
	MT4 Floating - Market Exec. ?	More
	Islamic Account ?	More
	Live Account ?	More
	Islamic Account ?	More
	Classic Account ?	More
	ECN Account ?	More
	Premium Account ?	More
	STP MT4 Account ?	More
	ECN MT4 Account ?	More
	Floating Spreads ?	More
	ECN Premier ?	More

	EURUSD AUDUSD EURUSD GBPUSD USDCHF USDINR	Leverage ?	Commission / lot ?	Min. deposit ?
AvaTrade Islamic Account ?	2.5 pips 1.9 pips 2.4 pips 2.5 pips NA NA	1:200 1:200 1:200 1:50 NA NA	$0	$100	Visit broker »
AvaTrade MT4 Fixed ?	2.5 pips 1.9 pips 2.4 pips 2.5 pips NA NA	1:400 1:400 1:400 1:50 NA NA	$0	$100	Visit broker »
AvaTrade MT4 Floating ?	2.2 pips 1.5 pips 2 pips 2.1 pips NA NA	1:400 1:400 1:400 1:40 NA NA	$0	$100	Visit broker »
HotForex Micro Account ?	2 pips 1.2 pips 2.1 pips 2 pips NA NA	1:1000 1:1000 1:1000 1:1000 NA NA	$0	$50	Visit broker »
HotForex Islamic Account ?	2 pips 1.2 pips 2.1 pips 2 pips NA NA	1:400 1:400 1:400 1:400 NA NA	$0	$500	Visit broker »
HotForex Fixed Account ?	2.3 pips 1.8 pips 2.5 pips 3.9 pips NA NA	1:400 1:400 1:400 1:400 NA NA	$5	$500	Visit broker »
Fortrade Instant Execution ?	3 pips 2 pips 2 pips 4 pips NA NA	1:200 1:200 1:200 1:200 NA NA	$0	$100	Visit broker »
easyMarkets Standard Account ?	2.6 pips 1.8 pips 3 pips 2.8 pips NA NA	1:200 1:200 1:200 1:200 NA NA	$0	$100	Visit broker »
easyMarkets VIP Account ?	1 pip 1 pip 1 pip 1 pip NA NA	1:400 1:400 1:400 1:400 NA NA	$0	$2500	Visit broker »
FXTM Standard Account ?	1.8 pips 1.6 pips 1.8 pips 1.6 pips NA NA	1:500 1:500 1:500 1:500 NA NA	$0	$100	Visit broker »
FXTM ECN Account ?	0.4 pips 0.1 pips 0.4 pips 0.6 pips NA NA	1:500 1:500 1:500 1:500 NA NA	$2	$500	Visit broker »
FXTM FXTM Pro ?	0.1 pips 0.1 pips 0.2 pips 0.2 pips NA NA	1:200 1:200 1:200 1:200 NA NA	$0	$25000	Visit broker »
FxPro MT4 Fixed - Instant Exec. ?	1.7 pips 1.6 pips 1.8 pips 1.6 pips NA NA	1:500 1:500 1:500 1:100 NA NA	$0	$500	Visit broker »
FxPro FxPro cTrader ?	0.8 pips 0.3 pips 0.7 pips 1.9 pips NA NA	1:500 1:500 1:500 1:100 NA NA	$9	$500	Visit broker »
FxPro MT4 Floating - Instant Exec. ?	1.6 pips 1.4 pips 2 pips 1.8 pips NA NA	1:500 1:500 1:500 1:100 NA NA	$0	$500	Visit broker »
FxPro MT5 Floating - Market Exec. ?	1.6 pips 1.4 pips 2 pips 1.8 pips NA NA	1:500 1:500 1:500 1:100 NA NA	$0	$500	Visit broker »
FxPro MT4 Floating - Market Exec. ?	1.4 pips 1.2 pips 1.8 pips 1.8 pips NA NA	1:500 1:500 1:500 1:100 NA NA	$0	$500	Visit broker »
LQDFX Islamic Account ?	1.2 pips 0.8 pips 1.1 pips 1.8 pips NA NA	1:300 1:300 1:300 1:300 NA NA	$0	$20	Visit broker »
Plus500 Live Account ?	4 pips 2 pips 1 pip 8 pips NA NA	1:300 1:300 1:300 1:300 NA NA	£0	£100	Visit broker »
eToro Islamic Account ?	4 pips 3 pips 4 pips 3 pips NA NA	1:400 1:400 1:400 1:400 NA NA	$0	$200	Visit broker »
LiteForex Classic Account ?	2.8 pips 2.2 pips 2.8 pips 3.4 pips NA NA	1:500 1:500 1:500 1:500 NA NA	$0	$50	Visit broker »
LiteForex ECN Account ?	0.5 pips 0.4 pips 0.7 pips 1.2 pips NA NA	1:500 1:500 1:500 1:500 NA NA	$5	$50	Visit broker »
eToro Premium Account ?	4 pips 3 pips 4 pips 3 pips NA NA	1:400 1:400 1:400 1:400 NA NA	$0	$20000	Visit broker »
FXOpen STP MT4 Account ?	2.5 pips 1.4 pips 1.9 pips 2.5 pips NA NA	1:500 1:500 1:500 1:500 NA NA	$0	$10	Visit broker »
FXOpen ECN MT4 Account ?	0 pips 0 pips 0 pips 0 pips NA NA	1:500 1:500 1:500 1:500 NA NA	$1.8	$1000	Visit broker »
FXPRIMUS Floating Spreads ?	1.6 pips 1.6 pips 1.6 pips 2.3 pips NA NA	1:1000 1:1000 1:1000 1:1000 NA NA	$0	$100	Visit broker »
FXPRIMUS ECN Premier ?	0.5 pips 0.4 pips 0.4 pips 1.2 pips NA NA	1:1000 1:1000 1:1000 1:1000 NA NA	$10	$100	Visit broker »

Forex trading and the Sharia

Traditional Forex trading can pose problems for religion-abiding Muslims because it often involves interest. Your Forex broker could charge interest if you borrow to open a position. And if you keep your position open overnight, you could stand to receive or pay interest depending on the prevailing interest rates.

It is possible to trade currencies without incurring interest: 1) invest no more than you can afford and 2) remember to close any open positions by 5pm New York time. However, this is likely to reduce how much you can afford to invest and may not be an option if 5pm New York time (10 pm UTC/GMT) is in the middle of your night time.

Benefits of an Islamic broker

Instead, you could open an account with a Sharia-compliant broker Forex broker to enjoy interest-free leverage and avoid interest on rollovers.

Interest-free leverage. Islamic Forex brokers will provide interest-free leverage. In other words, you can borrow entirely free of charge.
No rollover interest.With an Islamic Forex account, your open positions will be closed by 5pm New York time to avoid rollover interest. You can them re-open them immediately after that. Some brokers will open them on your behalf free of charge.

Are there any disadvantages?

If you're a non-Muslim thinking of opening an Islamic account simply to avoid interest, think again. Most brokers will ask that you provide evidence of your faith if you request a Sharia compliant account. They could close your account altogether if they have grounds to believe you are trying to game the system.

Interest-free doesn't necessarily mean you'll be at an advantage, as some brokers will look for alternative sources of revenue if they cannot charge interest. This is why Islamic accounts can have marginally wider spreads than conventional accounts. Other brokers may require higher minimum deposits.

However, this isn't always the case. easyMarkets offers Forex and commodity trading accounts in Islamic format to all clients of Muslim faith. In addition, you can keep your open positions overnight for up to 14 days at no additional cost. Others, such as HotForex EU tend to apply a carry charge after 7 days.

How to open an Islamic account

Our comparison table shows popular Forex brokers with Islamic accounts.

Some brokers such as easyMarkets or HotForex have dedicated Islamic accounts, in which case signing up is straight forward.
Finally, others such as AvaTrade.com can convert a conventional Forex account into a Sharia compliant account on request. You'll need to speak to your account manager to make that happen before placing your first trade.

Best Execution

Trade 45 currency pairs and CFDs on shares, indices and metals with market execution ... More

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Best for Beginners

Trade Forex and CFDs on metals, commodities and indices on tight fixed spreads from a... More

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Best for Pros

Trade 60 currency pairs on floating spreads, plus CFDs on crypto-currencies, stocks, ... More

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Best Islamic

Trade Forex as well as CFDs on cryptocurrencies, shares, indices, metals and more on ... More

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