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
FBS
4.7/5
Bonus: 100% up to No limit Min. Deposit: - Max. Leverage: 1:1,000 Regulation:
  • IFSC
  • CySec
Visit FBS FBS review
HYCM
4.55/5
Bonus: 10% up to $5000 Min. Deposit: $100 Max. Leverage: 1:20 | 1:500 Regulation:
  • FCA
  • CySec
Visit HYCM HYCM review
AvaTrade
4.4/5
Bonus: 20% up to $10,000 Min. Deposit: $100 Max. Leverage: 1:20 | 1:400 Regulation:
  • ASIC
  • CySec
  • FSCA
Visit AvaTrade AvaTrade 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

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 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.


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