Muslim Forex Brokers

I was a Forex trader for some time, and after long rounds of research I became very convinced that it’s Haram and I stopped it. Most of the arguments out there about the permission of Forex in Islam focus only on the resolved conflicts, not the persistent ones.

Invert Plus review - Is invertplus. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

Choosing an Islamic Forex Account

Islamic Forex Broker While forex trading is quite popular in the Islamic world, brokers need to approach this customer base cautiously as there are cultural peculiarities to be obeserved. One such peculiarity is the Shariah law prohibiting Muslims from earning interest – and this is a problem because of the rollover/swap paid on positions.

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. 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. 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. You'll need to speak to your account manager to make that happen before placing your first trade. Trade 45 currency pairs and CFDs on shares, indices and metals with market execution More Trade 45 currency pairs and CFDs on shares, indices and metals with market execution and no requotes.

Scalping and all EAs allowed on MetaTrader 4 or 5. Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, ind More Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and commodities.

All EAs are welcome except arbitrage. Trade a wide range of asset classes on low fixed spreads all from Fortrade's MT4 plat More Trade a wide range of asset classes on low fixed spreads all from Fortrade's MT4 platform: Forex, stocks, indices, energies, commodities and US Treasuries.

Trade Forex as well as CFDs on cryptocurrencies, shares, indices, metals and more on This account, designed for Muslim clients, does not incur swap or rollover charges for holding positions overnight.

Terms and conditions apply. Trading foreign exchange, contracts for differences or spread bets on margin carries a high level of risk and may not be suitable for all investors. You may not reproduce, distribute, publish or broadcast any piece of the website without indicating us as a source. Forexbrokerz website uses cookies.

By continuing to browse the site you are agreeing to our use of cookies. Read our Privacy Policy. FXTM - Trade with flexible leverage and spreads from 0.

Latest forex brokers Prime X Club review - Is primexclub. Invert Plus review - Is invertplus. PremiumTradesMarkets Review - is premiumtradesmarkets. PBN Invest Review - is pbninvest.

Capital Group review - Is capital PTBanc Review - is ptbanc.