Best Islamic Trading Accounts
Compare the best Islamic trading accounts in Indonesia, including standalone Islamic accounts and others available without swap charges.
Trade without restrictions with OctaFX.com, an international broker headquartered in St. Vincent & The Grenadines. Octa (formerly OctaFX) supports all trading styles and EAs.
- Likes
- Trade without restrictions on MetaTrader 4 or 5.
- Crypto deposit and withdrawal options are available.
- Negative balance protection.
- Copy trading platform.
- Dislikes
- You cannot buy shares or cryptocurrency (only CFDs).
- Only supports 2 account base currencies: USD, EUR.
Octa is popular with traders seeking high leverage, up to 1:500, on the MetaTrader 4 and 5 platforms. You can make your deposits go further with a bonus, up to 50%. Bonus funds can be withdrawn subject to trading volume requirements.
Octa has a reputation for quick deposits and withdrawals, even though withdrawals are processed manually for added security. Octa charges no fees on deposits and will even cover third-party fees, from time to time.
Live trading sessions, broadcast several times a month, also caught our attention. Webinar attendees also get access to a private Telegram channel. If you are new to trading, this could be an opportunity to learn from professional traders.
We hope this article has helped narrow your options and we would encourage you to create either a live or a demo account with each of these brokers, to see what they have to offer. If not, here are a few things to look for when searching for a Shariah-compliant broker:
- No interest on overnight positions (also called swap fees).
- No time limit placed on positions kept open overnight.
- No fees charged on positions kept open overnight.
- No additional charges (e.g. administrative fees).
- No spread-widening for Islamic accounts.
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About the author
I'm Stéphane, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers on our service, opening and funding real-money accounts, contacting customer service and placing trades. I started my career in investment banking in London.
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