Best Islamic Forex Account Brokers

Best Islamic Forex Brokers for 2022

Broker	Bonus	Deposit*	Leverage*	Regulation	Visit
XM 5/5	Bonus: 15% up to $500	Min. Deposit: $200	Max. Leverage: 1:30 \| 1:200	Regulation: IFSC ASIC CySec	Visit XM XM review
AvaTrade 4.7/5	Bonus: 20% up to $10,000	Min. Deposit: $100	Max. Leverage: 1:20 \| 1:400	Regulation: ASIC CySec FSCA	Visit AvaTrade AvaTrade review
FBS 4.55/5	Bonus: 100% up to No limit	Min. Deposit: -	Max. Leverage: 1:1,000	Regulation: IFSC CySec	Visit FBS FBS review
HYCM 4.4/5	Bonus: 10% up to $5000	Min. Deposit: $100	Max. Leverage: 1:20 \| 1:500	Regulation: FCA CySec	Visit HYCM HYCM review
Alpari 4.25/5	Bonus:	Min. Deposit: $5	Max. Leverage: 1:400	Regulation: FSC	Visit Alpari Alpari review
FP Markets 4.1/5	Bonus:	Min. Deposit: $100	Max. Leverage: 1:500	Regulation: ASIC SVGFSA	Visit FP Markets FP Markets review
IG 3.95/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:200	Regulation: FCA EU MiFID II	Visit IG IG review
eToro 3.8/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:30	Regulation: CySEC ESMA MiFID	Visit eToro eToro review
OctaFX 3.65/5	Bonus: 10%-100%	Min. Deposit: $20	Max. Leverage: 1:500	Regulation: CySEC MiFID ESMA	Visit OctaFX OctaFX review
XTB 3.5/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:500	Regulation: FCA CySEC CNMV	Visit XTB XTB review
FXTM 3.35/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:200	Regulation: FCA CySEC	Visit FXTM FXTM review
Interactive Brokers 3.2/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:30 \| 1:50	Regulation: FINRA FCA ESMA	Visit Interactive Brokers Interactive Brokers review
Saxo Bank 3.05/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:66	Regulation: FSMA FCA DFSA	Visit Saxo Bank Saxo Bank review
Forex.com 3/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:300	Regulation: CFTC FCA ASIC	Visit Forex.com Forex.com review
Markets.com 3/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:300	Regulation: CySEC FSC FSCA	Visit Markets.com Markets.com review
CMC Markets 3/5	Bonus:	Min. Deposit: -	Max. Leverage: 1:500	Regulation: FCA ESMA BaFin	Visit CMC Markets CMC Markets review
Vantage FX 3/5	Bonus: 50%	Min. Deposit: $200	Max. Leverage: 1:500	Regulation: ASIC FCA VFSC	Visit Vantage FX Vantage FX review
easyMarkets 3/5	Bonus: 50%	Min. Deposit: $25	Max. Leverage: 1:200 \| 1:400	Regulation: CySEC ASIC	Visit easyMarkets easyMarkets review
Pepperstone 3/5	Bonus:	Min. Deposit: $200	Max. Leverage: 1:500	Regulation: FCA ASIC DFSA	Visit Pepperstone Pepperstone review
Plus500 3/5	Bonus: $150	Min. Deposit: $500	Max. Leverage: 1:300	Regulation: CySEC FCA ASIC	Visit Plus500 Plus500 review
TD Ameritrade 3/5	Bonus:	Min. Deposit: $50	Max. Leverage: 1:2	Regulation: CFTC NFA FINRA	Visit TD Ameritrade TD Ameritrade review
FXCM 3/5	Bonus: $300	Min. Deposit: $5000	Max. Leverage: 1:30/1:400	Regulation: ESMA ASIC FSCA	Visit FXCM FXCM review
Darwinex 3/5	Bonus:	Min. Deposit: $500	Max. Leverage: 1:30	Regulation: FCA	Visit Darwinex Darwinex review
HotForex 3/5	Bonus: 50% up to $1000	Min. Deposit: $50	Max. Leverage: 1:30 - 1:1000	Regulation: FCA FSCA CySEC	Visit HotForex HotForex review
IC Markets 3/5	Bonus:	Min. Deposit: $200	Max. Leverage: 1:500	Regulation: ASIC CySEC FSA	Visit IC Markets IC Markets review
OANDA 3/5	Bonus: 50% up to $1000	Min. Deposit: $25	Max. Leverage: 1:200	Regulation: CFTC NFA IIROC FCA ASIC FSA MAS	Visit OANDA Coming soon

The above table contains the top ranked forex brokers in our database for opening an Islamic account.

What is an Islamic Forex Account?

The Muslim faith forbids any giving or receiving of interest, and therefore a standard forex trading account according to Islamic law does not comply with Muslim beliefs. To accomodate traders who wish to abide by Islamic law but still trade in the foreign currency market, many forex brokers have introduced Islamic accounts. These accounts are free of any type of interest (Riba in Islam, also known as “swap” elsewhere) which is the amount of money debited or credited your trades due to difference in interest rates between the currencies).

Islamic accounts have become an important product offering for many forex brokers who wish to allow people with any religious belief to trade forex.