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Forex Brokers Offering Islamic Account

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Trading forex is commonly asked by Muslims whether it is Halal. According to Islamic (Sharia) law, Muslims are prohibited to earn interest in their giving. To overcome this problem, there has been lots of broker offering "interest-free" or "No Riba" account. By using Islamic accounts, traders are possible to trade according to Sharia law, where interest-free Forex trading is specially made by brokers.

Below you will find a list of Forex Brokers that offer Islamic account for trading, by hoping that you can determine which Islamic Forex broker is the best one for you.


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Additional FAQ

Several factors contribute to the growing demand for Islamic trading accounts:

  1. These accounts enable Muslim traders to participate in financial markets while adhering to Sharia law.

  2. Swap-free accounts promote inclusivity by providing equal opportunities for traders from various religious backgrounds.

  3. There is an increasing awareness and education surrounding Islamic finance and trading principles. As a result, more traders are seeking out swap-free accounts and gaining a better understanding of the features and requirements associated with these accounts.

Continue Reading at Introduction to Islamic Account in Forex Brokers

As a Muslim-majority country, UAE mainly uses the Sharia law. Consequently, regulators also need to ensure that financial activities such as forex trading that take place in the Mainland are Sharia compliant. This means, brokers must offer a swap-free account for clients in the UAE.

Continue Reading at Best Forex Brokers in United Arab Emirates (UAE)

Due to Islamic law, Muslims are advised not to engage in a business or contract that includes charging and receiving interest. 

As the name suggests, this trading account does not generate swaps or interests. That's why many brokers specifically create swap-free accounts for Muslim traders.

Continue Reading at ASIC Brokers that Allow Swap Free

Swap-free accounts are typically designed for Muslim traders who must adhere to their religious beliefs. Brokers offering these accounts may have specific conditions, such as:

  1. Religious Verification

  2. Maximum DurationCommission

  3. Special Account Type

Continue Reading at Introduction to Islamic Account in Forex Brokers