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5 Best Islamic (Swap-Free) Forex Accounts for 2026
By:Â Reviewed By:Â
Updated: Dec 14, 2025
Finding a broker that honors Sharia law is non-negotiable, but true quality goes beyond simply offering a “swap-free” label. You need a platform that not only respects your faith but also delivers the speed, transparency, and competitive pricing required for modern trading.
After testing over 80 brokers this year, we handpicked the ones that truly deliver. We focused on those that are tightly regulated, ensuring your capital has solid protection.
We didn’t just check for “swap-free”, we verified the account types are genuinely convertible to be Sharia-compliant, recorded live spreads, and put every trading platform through a rigorous test drive, checking everything from charting tools to withdrawal ease. The brokers we recommend below offer the perfect blend of ethical compliance and high-performance trading.
List of Top Brokers with Islamic Accounts
Regulated by top-tier CySEC and ASIC. MT4 and MT5. Islamic Standard and Raw Spreads accounts available. 10-day grace period before financing fees are charged on Islamic accounts.
Regulated by top-tier CySEC and ASIC. Very tight spreads. 2000+ instruments. MT4, MT5, and cTrader. Islamic Standard and Raw Spreads accounts available. No financing fee for many instruments in the Islamic account.
Tight spreads. MT4 and MT5. Standard Cent, Standard, Pro, and Raw Spread Accounts can be converted to Islamic. Base currencies from Arabic countries. No financing fee on Islamic accounts for clients outside the EU. 1:3000 leverage.
Cutting-edge WebTrader platform. Advanced charting. Flexible order types. Proprietary +Insights tool. 2,800 instruments. Licensed by 8 regulators globally.
Three retail accounts can be turned into Islamic. Lighting-fast order execution. VPS hosting. 2,100+ tradable instruments. Competitive pricing on the Elite account.
How Did FXEmpire Choose the Best Islamic Forex Accounts?
- We checked for the availability of an Islamic account.
- We checked the available account types for CFD trading and examined which of them are convertible to Islamic.
- We measured the financing fees, replacing the swap fees.
- We tested other fees and trading costs, including spreads, inactivity fees, and withdrawal fees.
- We assessed brokers’ level of financial strength and transparency.
- We conducted a test drive for each trading platform, digging into available order types, charting, watchlists, and UX.
- We checked the availability of a wide variety of tradable CFD instruments.
- We looked for fast, responsive, and helpful customer support via phone, live chat, and email.
- We verified the availability of a good variety of deposit and withdrawal methods, making it fast and easy to move money in and out of your account.
Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology.
Now let’s go through the selected brokers.
Best Overall
4.6
Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
- $100Min Deposit
- 10180Tradable Instruments
- LowFees
Why We Picked It
Sydney, Australia-based FP Markets was founded in 2005 and has entities regulated by top-tier CySEC and ASIC. With over 10,000 instruments across stocks, indices, forex, commodities, and cryptocurrencies, Islamic traders can experiment across a broad range of markets.
Islamic Account Features:
- Account types: Islamic Standard, Islamic Raw
- Available trading platforms: MetaTrader 4, MetaTrader 5
- Spreads: 1 pip in EUR/USD, 14 pips in Gold
- Financing fee: $1 to $80 per lot per night, applicable from the 11th night
- Maximum leverage: 1:500 (St. Vincent entity), 1:30 (ASIC), 1:30 (CySEC)
- Base currencies: USD, AUD, EUR, GBP, SGD, CHF, CAD, JPY, HKD, PLN, ZAR, MXN, BRL
The swap-free Islamic account is available on Raw and Standard account types on the MT4 and MT5 trading platforms. Islamic Accounts are not charged any swap or admin fee for the first ten nights. If positions are held longer, a financing fee is applicable from the eleventh night. Islamic account admin fees range from $1 (for example, in major indices such as the Germany 30) up to $80 for spot natural gas (XNGUSD) per night, per contract. Popular currency pairs like EUR/USD have an admin fee of $5 per night.
FP Markets offers competitive trading costs: in my live tests, I experienced spreads of 14 pips in gold and 4 pips in crude oil. Speed is the name of the game at this broker – made possible with low latency trade execution delivered from the Equinix NY4 facility server cluster. I also confirmed that scalpers and algorithmic traders can be more confident of having a stable trading environment thanks to free VPS hosting.
I assess that the FP Markets’ selection of platforms is robust and can cater to the most sophisticated traders. Islamic account holders have access to MetaTrader 4 and MetaTrader 5 only, while standard clients have access to all three platforms including cTrader. Another significant benefit is excellent 24/7 email, phone, or live chat support. Over two weeks of my testing, customer support responded quickly with well-informed and helpful answers.
Pros and Cons
Pros
- Fast and simple account opening process.
- No withdrawal fees.
- Impressive range of tradable instruments.
- Competitive spreads in forex pairs.
Cons
- No proprietary platform.
Best Low Spreads
4.7
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
- $200Min Deposit
- 2239Tradable Instruments
- LowFees
Why We Picked It
Founded in 2007, IC Markets is a veteran of the forex and CFD industry. With over 180,000 active clients worldwide and US $1.2 trillion in trading volume (according to the broker’s website), it has emerged as a market leader.
The Sydney, Australia-based broker provides access to trading in CFDs on currency pairs, commodities, indices, shares, ETFs, futures, and cryptocurrencies. While researching trust and stability signals, I confirmed that multiple authorities, including top-tier ASIC and CySEC, regulate IC Markets.
Islamic Account Features:
- Account types: Standard, Raw Spread
- Available trading platforms: MetaTrader4, MetaTrader 5, cTrader
- Spreads: 0.6 pip in EUR/USD, 18 pips gold
- Financing fee: Between $5 per lot and $80 per lot per night, applicable from the first night
- Maximum leverage: 1:500 (Seychelles entity), 1:30 (ASIC), 1:30 (CySEC)
- Base currencies: USD, GBP, AUD, EUR
For most instruments, Islamic account holders at IC Markets do not pay swap or financing fees. When holding exotic currency pairs, Brent crude oil, natural gas, and WTI crude oil, a fixed financing fee is applied overnight, starting from the first night. Financing fees vary from $5 per contract per night for a currency pair such as EUR/HKD up to $80 for natural gas (XNG/USD).
Rock-bottom trading costs are a hallmark of this broker, providing an edge for active, short-term traders. I experienced spreads as low as 2.2 pips in GBP/JPY, 18 pips in gold, and 3 pips in crude oil. Advanced and systematic traders can take advantage of the full suite of MetaTrader platforms along with the more intuitive cTrader.
Pros and Cons
Pros
- Excellent range of tradable instruments.
- Rock bottom spreads.
- Robust platforms and tools.
- 24/7 customer support.
- $1M insurance via Lloyds of London (offshore entity).
Cons
- Trading platforms may take time to master.
Best MT4 Islamic Account
4.3
Your capital is at risk.
- $10Min Deposit
- 266Tradable Instruments
- LowFees
Why We Picked It
Founded in 2012, JustMarkets is a multi-asset online CFD broker based in Limassol, Cyprus. I confirmed that Just Markets Ltd is regulated by Tier-1 CySEC and has several offshore entities. Traders can choose between four account types, MT4 and MT5 trading platforms, and eleven base currencies.
Islamic Account Features:
- Account types: Standard Cent, Standard, Pro, Raw Spread
- Available trading platforms: MetaTrader 4, MetaTrader 5
- Spreads: 0.7 pips in EUR/USD, 28 pips in gold
- Financing fee: No fee for clients outside the EU
- Maximum leverage: 1:3000 (Seychelles FSA), 1:30 (CySEC)
- Base currencies: USD, EUR, GBP, ZAR, KWD, IDR, CNY, MYR, JPY, VND, THB
Islamic account holders outside the EU do not pay swap fees, and there are no financing fees. For EU clients, Islamic accounts are available via Raw Spread and Pro account types on the MT5 platform. Swap-free accounts are subject to a daily order handling fee determined by the size of financing costs charged to JustMarkets by its vendors.
Professional traders can benefit from the advanced features of MetaTrader 4 and MetaTrader 5, such as automated trading. In my hands-on tests, I experienced competitive spreads of 2 pips in GBP/JPY and 4 pips in WTI crude oil. The Raw Spread account helps traders keep costs to a minimum, with spreads starting at 0 pips. JustMarkets also offers copy trading via MT4, which allows experienced traders to earn additional income when others copy their trades.
Pros and Cons
Pros
- Regulated by a Tier-1 CySEC.
- Multiple deposit and withdrawal options.
- Various account types for MT4 and MT5.
- Good customer support.
Cons
- Limited research materials.
Best Trading Platform
4.3
CFD Service, 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
- $100Min Deposit
- 2764Tradable Instruments
- HighFees
Why We Picked It
Plus500 was founded in 2008 and has grown to become one of the world’s leading forex and CFD brokers. Plus500 Ltd is now a FTSE 250 company listed on the London Stock Exchange (LSE). The innovative broker is licensed by 8 regulators globally, including top-tier FCA, CySEC and ASIC.
Islamic Account Features:
- Account types: Standard, Professional
- Available trading platforms: WebTrader, Plus500 mobile app
- Minimum deposit: 100 units of your local currency
- Spreads: 0.8 Pips in EUR/USD, 36 Pips in gold
- Financing fee: All costs are reflected in the spread
- Maximum leverage: 1:300 (Seychelles FSA), 1:30 (CySEC)
- Base currencies: AUD, CAD, HKD, JPY, NZD, SGD, CHF, EUR, GBP, USD, ARS, BSD, BHD, BRL, CLP, CNH, CNY, COP, CRC, HRK, ISK, IDR, KWD, MYR, MXN, TRY, OMR, PAB, QAR, RUB, SAR, RSD, SCR, ZAR, KRW, TWD, THB, AED, UYU, CZK, DKK, HUF, NOK, PLN, RON, SEK, BGN, ILS
Plus500 Islamic trading accounts are free of interest in accordance with the principles of Islamic finance. They feature no overnight funding charges, no commissions, no rollover charges (swaps), and no fees on deposits/withdrawals. All costs are priced into the bid/offer spread.
I rate the flagship Plus500 WebTrader as one of the best forex and CFD platforms available today. The platform has a highly intuitive design and also packs advanced features, including robust charting, sophisticated order types, alerts, and unique research tools. +Insights tool provides exclusive access to the trading activity of millions of Plus500 clients, revealing data like the highest profit-making positions.
Pros and Cons
Pros
- High trust rating.
- 24/7 chat support.
- 2,800+ tradable instruments.
- Excellent research materials.
Cons
- Lacks phone support.
Best for Professional Traders
4.6
73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing money. (EU, UK)
- $100Min Deposit
- 1995Tradable Instruments
- HighFees
Why We Picked It
With its versatile Islamic accounts and commitment to delivering superior trading services, FxPro is one of the best choices for professional traders. The London-based financial derivatives broker offers more than 2,100 tradable instruments across currency pairs, commodities, share CFDs, indices, cryptocurrencies, ETFs, and futures.
Islamic Account Features:
- Account types: Standard, Raw, Elite
- Trading platforms: FxPro Web Trader, MetaTrader 4, MetaTrader 5, cTrader
- Spreads: 1.4 pips in EUR/USD, 34 pips in gold
- Financing fee: $0 with an Islamic account
- Maximum leverage: 1:200 (Seychelles FSA), 1:200 (Bahamas SCB), 1:30 (FSCA South Africa), 1:30 (FCA UK), 1:30 (CySEC Cyprus)
- Available base currencies: AUD, EUR, USD, HUG, GBP, CHF, JPY, ZAR, PLN
In my estimation, FxPro is a great choice for seasoned professionals because of its excellent order execution performance. I learned that FxPro achieves ultra-fast order execution speeds, averaging 11 milliseconds. Moreover, 84% of client orders are filled at the requested price or better. To top it off, FxPro offers Virtual Private Server (VPS) hosting for low-latency trading and stable internet connectivity.
Both FxPro’s flagship web trader is geared towards the needs of professional traders. The platform is highly customizable and has popular features such as one-click trading, trading from the chart, news, and alerts.
The broker also offers cTrader, which features150+ analytical tools and chart configurations, as well as high-definition charts. cTrader also provides an advanced coding environment for sophisticated trade automation. Algo traders can use it to construct advanced trading algorithms that perform under different market conditions.
Pros and Cons
Pros
- Fast order execution
- Advanced trading platforms
- Great selection of tradable instruments
- Access to deep liquidity
Cons
- High inactivity fee
How to Choose a Broker with an Islamic Account?
Consider the following questions when searching for a suitable broker with an Islamic account.
Can I trust the broker?
Take into account the regulatory status of the broker. Forex brokers regulated by top-tier financial authorities must undergo audits, meet capital requirements, and provide segregated accounts and negative balance protection. A compensation fund is sometimes available in the event of broker insolvency.
Tip: you can search the regulator’s website to confirm the broker’s status and check for any disciplinary action. The broker’s size and operating history are also worth considering. You can usually find these on the company’s LinkedIn page.
Read more about Best regulated forex brokers.
Are the fees competitive?
Working with a broker that keeps spreads and commissions to a minimum can make the difference between profit and loss at the end of the day. This is a crucial point for day traders. Also, don’t be caught off guard by miscellaneous account-related fees, such as inactivity and withdrawal fees.
On Islamic accounts, financing fees vary by instrument. They are typically the least expensive for indices like the Dax 40 and major currency pairs like EUR/USD. Exotic currency pairs such as EUR/TRY and commodities like natural gas (XNG/USD) have the highest fees. It’s also important to note that some brokers only charge the Islamic financing fee on select instruments, leaving others free of both swap and financing fees.
Check out our guide on Best lowest spread forex brokers.
What account types are available?
A broad range of account types helps a broker cater to different trader profiles. For example, a simple STP account may be the best for beginners in the markets, while an ECN/raw spread account can help sophisticated, active traders keep their costs to a minimum.
ECN accounts typically route orders straight to the interbank market, while STP accounts send orders directly to a counterparty that might be another STP broker, market broker, or ECN broker. Via ECN accounts, spreads are tighter and the speed of order execution is faster, making them suitable for active, short-term traders. However, a commission is charged in addition to the spread.
Islamic traders should check if their preferred account type is available swap-free. In some instances, account types cannot be converted to Islamic.
Read more about Best STP forex brokers and Best ECN forex brokers.
How to choose a trading platform?
When choosing a trading platform, prioritize one that is intuitive and easy to navigate to ensure a smooth start in the trading world. Opt for platforms, typically browser-based, that are developed by the broker as they tend to be more user-friendly. Key features to look for include watchlists, trading from the chart, search functions, news feeds, and a customizable interface.
Here are our picks of Best forex trading platforms.
Platforms like MetaTrader 4 and 5 offer advanced features such as backtesting, automated trading, and a wide range of order types, although they might be less user-friendly. MetaTrader 4 is available in Arabic, making it well-suited to Islamic account holders.
Read more about Best MetaTrader 4 brokers and Best MetaTrader 5 brokers.
Is customer support reliable?
Having solid support on hand is essential. Check the hours of availability, for example, whether help is on hand 24/7 or only during business hours. Chat support is the most convenient, so look for an easy-to-access chat window built into the broker platform. In the case of a platform outage, it is also important to be able to contact support via phone.
What to avoid when choosing a broker with an Islamic account?
When selecting a broker offering an Islamic account, it is important to be conscious of the financing fees, when they are applied, and which instruments are charged. The most important thing to avoid is unreasonably high financing fees.
Some brokers apply the nightly financing fee immediately, while others offer a grace period with no charge for several nights. The fees charged vary by broker, so keep an eye on the cost, especially for exotic currencies and commodities, which can be very expensive to hold.
Also, pay attention to which instruments get charged a fee. Some brokers charge no swap or financing fee for most instruments, choosing to charge a financing fee for exotic currencies and commodities only. Meanwhile, other brokers charge a fee for all of them, including popular instruments such as EUR/USD.
How to avoid forex and CFD scams?
A common scam in the forex and CFD industry involves vendors offering a trading strategy that guarantees an outlandishly high return in a short time. These may be based on automated trading using bots or a signal service where trades are shared via chat or social media. Nobody can guarantee returns with certainty, and it is more likely that such strategies will lose money. When assessing strategy or signal providers, you should look for a live track record audited by a third party and be conscious that past performance does not guarantee future results.
Traders should also be cautious about opening an account with an unregulated offshore broker. Such brokers may offer a straightforward account opening process, bonuses, and high leverage levels, but client funds are typically not protected. Meanwhile, brokers regulated by top-tier authorities must undergo regular audits and are held accountable for misconduct. Traders can also benefit from having their funds held in segregated accounts, negative balance protection, and a compensation fund in case of broker insolvency.
Get to Know Our Authors
Dan BlystoneBroker Analyst
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Jitan SolankiBroker Analyst
Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.
Plamen StoyanovBroker Analyst
Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.
Vladimir ZernovBroker Analyst
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
About the Author
Dan BlystoneBroker Analyst
Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.
Why you can trust FXEmpire
At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.