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Best Brokers with Islamic Trading
Accounts in 2023

Need a broker that provides Interest Free Best Islamic Trading Accounts? Most Forex brokers do not offer Islamic accounts we compiled the Best Islamic Brokers that offer Swap-Free Trading

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Best Brokers with Islamic Trading Accounts in 2023

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Table of Content

BlackBulll Markets

Is Forex Trading Halal? Best Islamic Trading Accounts

We have shortlisted the Best Islamic Trading Accounts that are Swap-Free and Zero Overnight Rollover InterestTrading The financial markets including the Forex Market can be very lucrative and an opportunity that is accessible to the majority of nations and to people from all walks of life. 

However, there are rules and regulations adhered to by much religious faith concerning commercial activities and the standards of dealings and trade.

Modern Markets/Commerce Vs Traditional Beliefs

The Islamic Faith or religion of Islam entails strict rules and regulations about the way Followers of the Faith (Muslim) should trade. 

As such, let us try to look and gain some insights as to how exactly they carry out one of the most basic chores which are of performing commerce in the day to day life and shall restrict ourselves to all commerce and trade did in the market – the Stock/Financial Markets that is to say.We have shortlisted 


Is Forex Trading Permissible (Halal) or Forbidden (Haram)?

The contemporary concern of many Muslims looking to make extra income through trading in the stock market is whether this practice aligns with Islamic principles and Sharia Law. 

This question has become even more pertinent given that Islam explicitly declares an interest as ‘forbidden’, making engaging in such activity seemingly impossible from a traditional perspective.

However, modernized solutions have been developed which enable traders to swap exactly what they started off with – allowing them an alternate way of gaining financial returns without breaking divine edicts or sacrificing their religious values.

Best Islamic Trading Accounts

Non-Permissible and its Rule

The problem becomes a whole other topic for debate if the company you’re investing in deals in services that are proclaimed as haram (non-permissible) under Islamic Law. 

For stocks and companies not tied up in such services, the only option to Invest or Trade with them is to go for an Islamic Trading Broker Account: a concept that allows Muslims to participate in the stock market, or any market for that matter, whilst making sure that none of the activities of a traditional market violates their beliefs and makes them do something that would be fundamentally haram (non-permissible)

Definition Of Best Islamic Trading Account

The most imminent question in everyone’s mind would be “What exactly is the Best Islamic Trading Account and in what ways does it differ from a normal trading account”. The answer in all honesty is relatively simple and straightforward. 

The majority of the reputable brokers currently in the market offer both traditional trading platform accounts and Islamic ‘swap-free’ accounts. 

XTB UK AvaTrade XM BrokerXM Group
Year Established
US Client Accepted
Regulatory Authority
Segregated Accounts
Why Choose Us?
1) " 5-star Rating on Trust Pilot "
2) " Client funds in segregated accounts "
3) " Competitive Fixed & Variable Spreads"
1) " 200 plus Instruments to trade "
2)" Client funds in segregated accounts "
3) " Regulated in 5 continents "
1) " Popular- Over 1,000,000 users "
2) " Client funds in segregated accounts "
3) "No Re-quotes and No Rejections "

Islamic Trading Account Vs Standard Trading Account

Why No Swapping or Rollover Interest is Permit?

With the same and unanimous rule of the law applying to both types of accounts, the only thing that differs in an Islamic Trading Account better known as a Swap-free account is that no swap or rollover interest. 

Any other type of interest is implied or levied upon overnight positions in such accounts which sits well with the financing laws of Sharia, simply because according to Islamic principles, for a trade to be termed as halal, they need to be executed immediately, the transaction costs have to be settled immediately with no room for future repayment, and no interest rates should be implied on any trade. 

Example of Swapping & Rollover Interest

In the explanations above, two new terms were discovered – swap and rollover interest: concepts without which the modern world trading in the market could lead to devastating and mind-boggling losses for both the lender as well as the receiver. 

Swapping essentially means keeping the position of your purchased stocks or active trades open even after the market has been closed for the day in order to sell them off just in case a person wishes to for what could be one out of a million possible reasons. 

Swing Traders & Overnight Holding Positions

Rollover Interest does mainly imply swing traders i.e. a trading style that is suited to holding positions for more than one day in the market. 

On the flip side, Day Traders or even traders that ‘Scalp’ the markets ensure they open and liquidate all their positions before the close of the day therefore they are not subject to Rollover Interest on their trading accounts. 

The interest levied for opening your account and consequently your stocks/Forex trades that are open for manipulation even once the market is closed is what we refer to as swap or rollover interest and since it is a type of interest in itself which acts as a hindrance in such financial transactions. 

Best Islamic Trading Accounts with No Swap and Zero Interest

This is why no swap or rollover interest is levied upon Islamic Trading Accounts in order to protect an individual’s beliefs and allow them for a passage to invest their money at the same time.

We have highlighted below both advantages as well as some demerits to an Islamic trader account when pitted against simple and standard CFD trading accounts. Let us identify some of them:

Advantages of an Islamic Trading Account

The very fact that there are no restrictions on the swap and rollover rates means that virtually at the very least, the market is open 24/7 and 365 days a year, giving a person the complete freedom to trade whenever and wherever they want without having to worry about paying anything extra to the broker. 

This definitely is contrary to the beliefs of Islam and Sharia to be precise, but a lot of people can choose to do so without much thought of their beliefs.

Again, owing zero swap and rollover interests allows for a person to save more from such commissions and even earn more by exploiting the privileges of their special accounts (if they choose to do so of course).

Debate of Modern Way of Trading (Buying & Selling) Vs Traditional Method

The biggest advantage is that such accounts bring about a sense of unanimity and equality in the world population as a whole.  

Such accounts, thus at least give the opportunity to the entire Islamic community to indulge in the markets and derive its benefits while keeping their beliefs aligned with Sharia laws at the same time

Disadvantages of an Islamic Trading Account

This disadvantage is not to the Islamic people, but rather to every other individual participating in the market. 

As said, no swap charges basically mean that the market virtually at the very least is open at every instance of a time to an Islamic person. 

This is not the case with other people making it a little unjust, for they cannot reduce their liabilities or risk all of a sudden if the market comes crashing.

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