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Best Islamic Forex Brokers 2018 - Highly Recommended And Trusted Brokers

There are different types of forex brokers available to a trader today in the marketplace. One such type is an Islamic forex broker. Through this broker, you’re able to open an Islamic trading account and start trading in the markets. The best part of this trading account is that it is not just limited to Muslims. In fact, this is an interest-free trading account that comes with higher spreads. However, if you’re one who doesn’t like to pay high rollover fees, then Islamic forex broker is for you.

Here, we have listed out some of the best Islamic forex brokers there are for you.


1. XM
XM gives you the choice to choose between two trading accounts. While the Micro trading account is suitable for traders that are beginning out, the Standard account is for more accomplished and professional traders. Typically, this trading account comes with lots of features.
For those following Muslim faith, there are forex Islamic accounts on offer. These are swap-free accounts or accounts that do not attract rollover interest on overnight positions. These accounts can be opened in either Standard or Micro forms.


XM has a presence in several countries and has the distinction of executing over 150,000,000 trades without any rejections, ever. What’s more, traders have the option to choose from 100 different financial instruments with no hidden fees or commissions.

Islamic Account : YES
min.deposit : $5
min. size: 0.01 lot
Max leverage : 1:888
Spreads : Variable
Trading Platform: MT4 , mirrortrader
Payment options : Credit/debit cards,Local bank transfer, Moneybookers, Neteller,WebMoney, Western Union, MoneyGram, Wire transfer, others
Regulation : BAFIN, CNNMV SPAIN, CYSEC, FSA UK


2. HotForex
HotForex SecurityHotForex that operates under the name HF Markets Ltd is a Mauritius headquartered forex broker that is regulated by financial services commission of mauritius (FSC). The best thing about this broker is that it provides a wide range of trading account types, each of which provides distinct and competitive trading conditions that have been designed and built to meet the changing needs of all kinds of traders.

HotForex is one of those forex brokers that heap bonuses and promotions to its customers in a large way. For those traders that want to improve further in the markets and make an impact, HotForex has lined up several educational tools that help them learn the nuances of trades and make the most out of them. For customer support, HotForex has got everything covered through live chat, e-mail, and phone.

Islamic Account : YES
min.deposit : $150
min. size: 0.01 lot
Max leverage : 1:400
Spreads : Variable, from 1 pip
Trading Platform: MT4, MT4 MOBILE, MT4 WEB
Payment options : cashu, credit and debit cards, moneybookers, neteller, perfect money, webmoney, wire transfer, ukash, fasapay
Regulation : FSC of the Republic of Mauritius, Cysec


3. Markets.com
markets.com is a very good broker forex and CFD broker, which fully license and regulated in many countries. This forex broker is distinguished from the other mainly on forex brokers the basis of his service has customer and teams for outstanding support which is very attentive to the plain of clients, providing assistance in several maternal language of the customers.

It offers fixed spreads starting from as low as 3pips for the major currency. It gives the opportunity to exchange with spreads blurring.

Islamic Account : YES

min.deposit : $100
min. size: 0.01 lot
Max leverage : 1:200
Spreads : Fixed
Trading Platform: MT4
Payment options : Credit/debit cards, Wire transfer, WebMoney
Regulation : CYSEC, ASIC

4. Easy Markets
Easy Markets came into existence in the forex broking world in 2003 under the name ‘easy-forex’. However, it rebranded itself in 2015 and has since been providing traders access to global markets. While the broker is regulated by CySEC, it is licensed by ASIC in Australia and MiFid in Europe. Currently, it operated from various cities including Sydney, London, Shanghai, and Warsaw.


The Standard trading account, the lone account available with Easy Markets, allows a minimum trade of $100. The Islamic account that is available with the broker allows the traders to carry their trading deals for the next day, without being charged for the rollover. The risk-free trading option is the most notable feature available with Easy Markets.

Islamic Account : YES
min.deposit : $25
min. size: 0.05 lot
Max leverage : 1:400
Spreads : FIXED
Trading Platform: MT4, Tradedesk, web trading
Payment options :
Regulation : ASCI, CYSEC

5. FXTM
Established in 2012, FXTM is considered by many as a newcomer in the forex market. Despite being a new player, FXTM has managed to carve a niche for itself by winning several awards, including “Fastest Growing Forex Broker” and “Best Newcomer 2013”. It is regulated by FSB and IFSC and is headquartered in Cyprus.

In choosing FXTM, you get to choose between three trading accounts. Interestingly, there are no minimum and maximum deposits one can make in these accounts. Furthermore, commissions or hidden fees are not levied by the broker. The Amanah or Islamic account option is available to those that are Shariah-compliant. Besides forex pairs, FXTM also offers a wide range of financial products like spot metals, ETFs, Commodity Futures, etc.

min.deposit : $5
min. size: 0.01 Lot
Max leverage : 1:1000
Spreads : Fixed
Trading Platform: Metatrader 4, Metatrader 5
Payment options : Wire transfer, Credit Card, Neteller, QIWI, Skrill, Webmoney, Western Union
Regulation : Cysec, IFSC


Read also: best forex broker in uae

6. AvaTrade
Established in 2006, AvaTrade is a prominent forex trader that has its offices in major cities like New York, Tokyo, Dublin, Milan, Sydney, and others. While the broker is licensed in the European Union by MiFid, it is regulated by the Central Bank of Ireland, BVI Financial Services Commission in the British Virgin Islands, FSC in Japan, and ASIC in Australia.

The only available account, the Standard account, requires you to make a minimum deposit of $100 to start trading in the market. The forex broker offers both variable and fixed spreads. There are numerous features offered by AvaTrade that are rarely provided by other brokers. Furthermore, the forex services are offered to clients in multiple languages, See also 

min.deposit : $100
min. size: 0.01 lot
Max leverage : 1:400
Spreads : Variable
Trading Platform: Avatrader, Metatrader 4
Payment options : Wire transfer,
Regulation : ASIC, Financial futures association (japan), central bank of ireland

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RISK:

*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.*