Islamic Forex Brokers | Swap-Free Forex Brokers
Broker | Regulation | Overall rating | Real customer rating | Minimum deposit | Funding Methods | Trading platforms | Cent accounts | Regulatory deposit insurance | Account currency | Asset classes | Languages | 45c263ed-6b03-4182-b7e7-7eac9e16491a |
---|---|---|---|---|---|---|---|---|---|---|---|---|
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Australia - AU ASIC Cyprus - CY CYSEC Seychelles - SC FSA |
4.9
Excellent
|
4.7
Excellent
|
200 |
MT4
MT5
WebTrader
cTrader
|
4737bf18-e4ec-4249-ad26-92649e429016 | ||||||
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Cyprus - CY CYSEC United Kingdom - UK FCA South Africa - ZA FSCA Seychelles - SC FSA Malaysia - LB FSA |
4.8
Excellent
|
4.8
Excellent
|
100 |
MT4
MT5
WebTrader
|
EUR
GBP
PLN
USD
|
1b6dc7b3-6587-4e19-9031-01b21b53999e | |||||
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Australia - AU ASIC United Kingdom - UK FCA Cayman Islands - KY CIMA Vanuatu - VU VFSC |
4.7
Excellent
|
200 |
MT4
MT5
WebTrader
|
Forex
Shares
Indices
Oil/Energies
Metals
Soft Commodities (coffee, sugar...)
|
969a7b09-48d4-457b-80b3-d5833799596d | ||||||
|
Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA Bahamas - BS SCB |
4.6
Excellent
|
100 |
MT4
MT5
|
Forex
Shares
Indices
Oil/Energies
Cryptocurrencies
Metals
|
English
|
3d02b108-1f43-4d4a-b2bc-ffefaccd98e4 | |||||
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Cyprus - CY CYSEC United Kingdom - UK FCA South Africa - ZA FSCA Bahamas - BS SCB |
4.6
Excellent
|
4.4
Good
|
100 |
MT4
WebTrader
cTrader
MT5
Proprietary
|
74719885-98f5-4622-8948-882b244a4c0a | ||||||
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Germany - DE BAFIN Cyprus - CY CYSEC United Kingdom - UK FCA Vanuatu - VU VFSC |
4.5
Excellent
|
500 |
MT5
WebTrader
|
EUR
GBP
USD
|
Forex
Shares
Indices
Cryptocurrencies
Metals
Soft Commodities (coffee, sugar...)
|
Arabic
English
German
Russian
Spanish
|
7c2917fe-d0aa-4d70-bd4e-19a80defc17d | ||||
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Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA Belize - BZ FSC United Arab Emirates - AE DFSA |
4.5
Excellent
|
4.4
Good
|
5 |
Bank Wire
Neteller
Skrill (Moneybookers)
|
MT4
MT5
WebTrader
|
Futures
Forex
Indices
Oil/Energies
Metals
Soft Commodities (coffee, sugar...)
|
69d4968b-5d94-468b-9784-c4f5fa0bbe49 | ||||
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Cyprus - CY CYSEC Virgin Islands, British - BVI FSC Malaysia - LB FSA |
4.4
Good
|
1 |
MT4
MT5
|
EUR
JPY
USD
BTC
ETH
|
ce8f99b1-fa74-48b7-ad98-c10965af5174 | ||||||
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Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA Bahamas - BS SCB Kenya - KE CMA |
4.4
Good
|
4.4
Good
|
200 |
cTrader
MT4
MT5
|
9e92a16b-7c4d-4531-93d9-f9239bac648a | ||||||
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Cyprus - CY CYSEC Seychelles - SC FSA |
3.8
Good
|
50 |
MT4
MT5
|
EUR
USD
|
81cde300-413f-41f5-a9b9-61bfe76b6bbb | ||||||
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Australia - AU ASIC New Zealand - NZ FMA Vanuatu - VU VFSC |
3.8
Good
|
100 |
MT4
WebTrader
|
AUD
CAD
EUR
GBP
NZD
USD
|
Forex
Shares
Indices
Oil/Energies
Cryptocurrencies
Metals
|
e1687337-3abb-4605-a67a-865695ef141d | |||||
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Mauritius - MU FSC |
3.6
Good
|
5.0
Excellent
|
100 |
Bank Wire
China Union Pay
Credit/Debit Card
Neteller
Skrill (Moneybookers)
B2BinPay
|
MT4
MT5
WebTrader
|
EUR
GBP
USD
|
Forex
Shares
Indices
Oil/Energies
Metals
|
Chinese
English
Indonesian
Malay
Portuguese
Spanish
|
304894aa-4873-4275-81f3-820e71ac0bfc | ||
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Seychelles - SC FSA |
3.4
Average
|
10 |
AstroPay
Bank Wire
Credit/Debit Card
Perfect Money
ZotaPay
|
MT5
Proprietary
|
EUR
USD
|
English
Russian
Thai
Turkish
Ukrainian
Czech
|
cc69ed12-fb49-498d-8801-0beb9b06ca8e | ||||
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Cook Islands - CK FSC |
3.2
Average
|
10 |
MT4
MT5
WebTrader
|
EUR
GBP
USD
BRL
|
Forex
Shares
Indices
Oil/Energies
Cryptocurrencies
Metals
|
59875d8f-15d2-4099-9a03-2e41fa41129b | |||||
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Cyprus - CY CYSEC Belize - BZ FSC Seychelles - SC FSA Malaysia - LB FSA |
4.8
Excellent
|
4.6
Excellent
|
0 |
MT4
MT5
WebTrader
cTrader
Proprietary
|
EUR
GLD
USD
CZK
CNY
|
3c058f72-8ec9-42e4-86d8-3dbe7dab80f7 | |||||
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Switzerland - CH FINMA |
4.6
Excellent
|
100 |
Bank Wire
Credit/Debit Card
|
|
Futures
Forex
Shares
Indices
|
fd86da83-45a1-444e-9b43-bd18d28a5b48 | |||||
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Australia - AU ASIC Germany - DE BAFIN United Kingdom - UK FCA Switzerland - CH FINMA Japan - JP FSA United States - US NFA South Africa - ZA FSCA Bermuda - BA BMA |
4.6
Excellent
|
4.3
Good
|
250 |
Bank Wire
ACH
Debit Card
|
MT4
|
USD
|
Forex
|
English
|
bbb5beae-7608-4c32-a625-6a6072afd30f | ||
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Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA |
4.6
Excellent
|
1 |
Proprietary
|
USD
|
Forex
Shares
Oil/Energies
Cryptocurrencies
Metals
Soft Commodities (coffee, sugar...)
|
38df5104-cd8b-4608-ace5-cac6c173f8e1 | |||||
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Australia - AU ASIC Cyprus - CY CYSEC Saint Vincent and the Grenadines - SVG FSA |
4.6
Excellent
|
4.6
Excellent
|
100 |
MT4
MT5
WebTrader
|
Forex
Metals
|
4d8430a7-c662-4eb2-9ee3-2c4cd205401a | |||||
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Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA Japan - JP FSA South Africa - ZA FSCA Seychelles - SC FSA Bermuda - Non-Regulated |
4.5
Excellent
|
4.6
Excellent
|
0 |
MT4
MT5
Proprietary
|
af7a1894-9688-454b-a190-e6b0ff14da4d | ||||||
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United Kingdom - UK FCA Mauritius - MU FSC South Africa - ZA FSCA |
4.5
Excellent
|
4.5
Excellent
|
10 |
MT4
WebTrader
MT5
|
EUR
GBP
USD
NGN
|
Forex
Shares
Indices
Oil/Energies
Metals
|
38d80b62-04ad-434d-be1a-63babb1d3dd8 | ||||
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Cyprus - CY CYSEC Saint Vincent and the Grenadines - SVG FSA |
4.5
Excellent
|
4.4
Good
|
50 |
MT4
MT5
Proprietary
|
CHF
EUR
RUB
USD
|
Forex
Shares
Indices
Oil/Energies
Cryptocurrencies
Metals
|
bc26cab7-14cf-448a-8765-9661b225a590 | ||||
|
Cyprus - CY CYSEC |
4.5
Excellent
|
100 |
MT4
|
Forex
Indices
|
f4f3d22d-0246-4735-8cb5-61225b26b5c0 | ||||||
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Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA Jordan - JO JSC |
4.5
Excellent
|
4.0
Good
|
100 |
MT4
WebTrader
MT5
|
722e0459-d42c-4ee1-bd13-7d658d3a6e15 | ||||||
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Australia - AU ASIC United Kingdom - UK FCA United Arab Emirates - AE DFSA Saint Vincent and the Grenadines - SVG FSA |
4.5
Excellent
|
4.4
Good
|
0 |
MT4
WebTrader
|
0cda2823-07f3-43a6-bdbb-1709feaedc86 | ||||||
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Malta - MT MFSA Cayman Islands - KY CIMA Malaysia - LB FSA |
4.4
Good
|
4.8
Excellent
|
0 |
cTrader
MT4
WebTrader
Proprietary
MT5
|
EUR
GBP
JPY
USD
|
059c683b-86ea-45d4-ad1e-29bc60dca7b1 | |||||
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Australia - AU ASIC Cyprus - CY CYSEC United Kingdom - UK FCA St Kitts and Nevis - Non-Regulated |
4.4
Good
|
4.1
Good
|
10 |
MT4
MT5
WebTrader
|
Forex
Indices
Oil/Energies
Cryptocurrencies
|
7193db72-98d8-4d7e-bf6c-36b62e87df48 | |||||
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Australia - AU ASIC Japan - JP FSA Ireland - IE CBI South Africa - ZA FSCA United Arab Emirates - ADGM FRSA Virgin Islands, British - BVI FSC |
4.3
Good
|
4.3
Good
|
100 |
MT4
MT5
|
AUD
EUR
GBP
JPY
USD
|
2fcd5481-9740-4503-b81d-aa2e0fa0682f | |||||
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Mauritius - MU FSC Malta - MT MFSA Bermuda - Non-Regulated |
4.3
Good
|
4.2
Good
|
0 |
Bank Wire
China Union Pay
Credit/Debit Card
Neteller
Skrill (Moneybookers)
|
MT4
MT5
WebTrader
|
CHF
EUR
GBP
JPY
USD
BTC
|
Forex
Shares
Indices
Oil/Energies
Cryptocurrencies
Metals
|
56ccce2e-0562-4341-855e-6429d34c6f68 | |||
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Cyprus - CY CYSEC Belize - BZ FSC Seychelles - SC FSA Jordan - JO JSC Kenya - KE CMA |
4.2
Good
|
5.0
Excellent
|
100 |
Bank Wire
Credit/Debit Card
Neteller
Skrill (Moneybookers)
Webmoney
|
MT4
WebTrader
|
EUR
GBP
USD
|
Forex
Indices
Oil/Energies
Metals
|
b5618a0b-5ea5-40b6-8ed3-c87901ae4843 | |||
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Cyprus - CY CYSEC |
4.2
Good
|
0 |
MT4
|
EUR
GBP
PLN
USD
BTC
ETH
|
Futures
Forex
Indices
Oil/Energies
Cryptocurrencies
Metals
|
bfb6b960-64df-4cf7-beb6-e03df71d0994 | |||||
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Mauritius - MU FSC South Africa - ZA FSCA Seychelles - SC FSA Virgin Islands, British - BVI FSC |
4.2
Good
|
4.8
Excellent
|
1 |
MT4
MT5
WebTrader
|
Forex
Shares
Indices
Oil/Energies
Cryptocurrencies
Metals
|
037f944d-1af0-48b7-85c5-34bd7bed0b08 | |||||
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Cyprus - CY CYSEC |
4.2
Good
|
5.0
Excellent
|
50 |
MT4
WebTrader
|
EUR
GBP
JPY
USD
|
Forex
Indices
Oil/Energies
Cryptocurrencies
Metals
|
186ca6bf-923e-4ae0-9be9-20bef504d5d5 | ||||
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Cyprus - CY CYSEC Vanuatu - VU VFSC |
4.1
Good
|
4.3
Good
|
5 |
cTrader
MT4
MT5
WebTrader
|
EUR
GBP
PLN
SGD
USD
ZAR
|
Forex
Indices
Oil/Energies
Metals
|
2b090af8-4e52-40a9-8434-7f5886d198fe | ||||
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Australia - AU ASIC United Kingdom - UK FCA Japan - JP FSA Canada - CA IIROC United States - US NFA Cayman Islands - KY CIMA Singapore - SG MAS |
4.1
Good
|
3.8
Good
|
100 |
Bank Wire
Cheque
|
MT4
|
USD
|
Forex
|
English
|
efd3b8d5-1938-48ca-b88b-22e7f16e6e7f | ||
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Cyprus - CY CYSEC Virgin Islands, British - BVI FSC |
4.1
Good
|
3.5
Good
|
1 |
MT4
MT5
|
EUR
RUB
USD
|
e3421d3c-6346-4c5d-9424-fc72a8ddefdd | |||||
|
Cyprus - CY CYSEC South Africa - ZA FSCA |
4.0
Good
|
100 |
Bank Wire
Credit Card
Neteller
Skrill (Moneybookers)
Webmoney
|
MT4
WebTrader
|
Forex
Indices
|
1bde7c0d-1305-436c-9790-27091a6ba8fe | |||||
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South Africa - ZA FSCA Saint Vincent and the Grenadines - SVG FSA |
4.0
Good
|
4.1
Good
|
5 |
MT4
MT5
WebTrader
|
EUR
JPY
USD
NGN
|
e608fea9-6213-4e39-9a5f-10f8d246e532 | |||||
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United Kingdom - UK FCA |
4.0
Good
|
4.1
Good
|
300 |
Bank Wire
Credit/Debit Card
Webmoney
Trustly
|
MT4
MT5
WebTrader
|
EUR
GBP
USD
|
Forex
|
Chinese
English
German
Russian
Spanish
|
17c6d286-427c-4b4f-92e3-3f851b2db230 | ||
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Japan - JP FSA Greece - EL HCMC |
3.9
Good
|
0 |
|
Proprietary
|
|
Forex
Shares
Indices
Cryptocurrencies
|
97d833af-a32a-4f49-8b83-2abfd9420348 | ||||
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Cyprus - CY CYSEC Mauritius - MU FSC |
3.7
Good
|
3.0
Average
|
200 |
MT4
|
EUR
GBP
PLN
USD
|
Forex
Shares
Indices
Oil/Energies
Metals
|
fdace01c-2fee-4341-a52a-d30766c9b08d | ||||
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Greece - EL HCMC Saint Vincent and the Grenadines - SVG FSA |
3.5
Good
|
4.2
Good
|
300 |
MT4
Proprietary
|
ba952cc3-c036-46be-98aa-d9a0c88a335c | ||||||
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3.5
Good
|
4.7
Excellent
|
5 |
Bank Wire
Bitcoin
FasaPay
Neteller
Perfect Money
Skrill (Moneybookers)
|
MT4
cTrader
MT5
|
EUR
USD
|
Forex
Metals
|
75c7864c-5b0f-4e17-9339-f0fcc83d62ce | ||||
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Mauritius - MU FSC Seychelles - SC FSA |
3.3
Average
|
10 |
MT4
MT5
WebTrader
|
e438102c-3db7-4496-92fe-0338f42799dc | |||||||
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Saint Vincent and the Grenadines - SVG FSA |
3.3
Average
|
100 |
MT4
MT5
|
EUR
RUB
USD
|
a1b35103-ade6-4014-a864-5d06bbf57ef7 | ||||||
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Dominican Republic - Non-Regulated |
3.0
Average
|
4.0
Good
|
0 |
MT4
WebTrader
|
CAD
EUR
GBP
USD
|
Forex
Oil/Energies
Metals
|
5171e30f-10dc-4440-a8fa-9159ebc157d6 | ||||
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Belize - BZ FSC |
3.0
Average
|
100 |
MT4
MT5
WebTrader
|
Forex
Indices
Oil/Energies
Cryptocurrencies
Metals
|
00d9d620-60eb-4e53-96d9-7562deea010a | ||||||
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3.0
Average
|
4.0
Good
|
0 |
Bank Wire
Credit Card
Neteller
Skrill (Moneybookers)
|
MT4
Proprietary
|
CHF
EUR
GBP
USD
|
Forex
Shares
Indices
Metals
|
a9d200f7-6d5a-4be9-9709-401e7588bf02 | ||||
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Mauritius - MU FSC Belize - BZ FSC |
1.7
Below Average
|
10 |
MT4
MT5
cTrader
|
EUR
USD
|
Forex
Indices
Oil/Energies
Metals
|
d15c7113-27a4-433b-b822-f8835834a428 | |||||
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1.0
Poor
|
5 |
MT4
|
EUR
USD
|
Futures
Forex
Indices
Bonds
|
83bccfd1-2787-4817-bd9c-fb0bae710174 |
Best Islamic and Swap-Free Forex Brokers in 2022
Forex brokers with swap-free accounts for Islamic traders, comparison table. Check out the recommended brokers in 2022, sorted by overall rating (the sum of regulations, pricing and user ratings). Compare the user rating to see how verified traders with a live account rate each broker for its trading conditions.
Why trade with swap-free brokers?
Forex CFDs, regardless of the broker providing them, have one common characteristic. At the end of the trading session, at 11.59 pm server time, open positions will incur a rollover fee, as currency pairs are subject to interest rates. This is due to the nature of the market, with trades being settled two business days after opening.
The rollover fee, also known as a swap, can be a credit or a debit – most times, and most instruments suffer a debit. Other than that, several brokers apply a 3-day swap, either on Wednesday, or Friday. The 3-day swap fee is to cover the cost of keeping the position open at the weekend.
In the case of traders of Islamic belief, and according to the Sharia Law ethical standards, individuals are forbidden from paying and receiving interest, partly to avoid usuary.
Thus, to comply with the Sharia Law (trade gold for gold, wheat for wheat), the option is a swap-free account, without interest on currency exchange.
What is swap-free in forex?
Swap-free in forex is an option to trade currencies without incurring interest fees on positions left open at the end of the trading session.
A rollover charge in forex occurs when traders are holding an open position overnight. The trading account will either be credited or debited, depending on the trade direction and the traded pair.
We have a great article about this subject, What is Swap in Forex, including the formula to calculate swaps and even 3 ways to avoid paying swaps (for traders that are not of Islamic belief).
What are swap-free trading accounts?
Swap-free accounts in forex are trading accounts not subject to rollover fees. These accounts are directed, mainly, at traders of Islamic belief, in compliance with the guidelines of the Sharia Law.
Some online brokers also offer swap-free accounts to all traders. One such case is LegacyFX (present on our list) which offers accounts with no swaps on long-term positions, for all traders, regardless of religious faith. Another good thing about LegacyFX swap-free accounts is that there are no hidden commissions or fees, providing the ideal conditions for long-term trading and investments.
For more info, please visit LegacyFX’s swap-free account web page.
Find the best swap-free broker for your trading strategy
Use our free Islamic forex brokers list to compare several brokers and find out how verified traders rate each broker for its trading conditions. Check out each broker's overall rating, the minimum initial deposit and the available funding methods.
Compare the available trading platforms of each broker (the popular MT4, MT5, standalone WebTrader and cTrader) and which brokers offer regulatory deposit insurance. Find out the brokers offering Cent accounts (ideal for novice traders or testing strategies with EAs), and allow scalping, the available asset classes (cryptocurrencies, forex pairs, indices, stocks, etc.), and the customer services supported languages.
Reputable Islamic forex brokers with swap-free accounts to help you succeed in your online trading career.