CM Trading Islamic Account offers swap-free trading options on all 4 of its trading accounts. Swap-free accounts carry no swap charges or rollover interest to traders on positions held overnight, according to research in South Africa.
CM Trading Islamic Account Review:
- ☑️Overview
- ☑️CMTrading Islamic account
- ☑️Which financial activities are restricted and prohibited by Sharia law?
- ☑️What are the steps involved in opening a CM Trading Islamic Account?
- ☑️CMTrading At a Glance
- ☑️CMTrading Customer Reviews
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
Overview
- CMTrading is a leading international brokerage specializing in CFD trading.
- They provide a "one-stop shop" experience with local support, particularly strong in Africa and the Middle East.
- They stand out for their Protected Stage phase, where clients can start trading with virtually zero risk, AI tools, and dedicated market analysts for higher-tier accounts.
CMTrading Islamic account
- Islamic Accounts offered by CMTrading completely adhere to the tenets of Shariah law and Islamic finance.
- These accounts are specifically tailored to meet the requirements of Muslim clientele in South Africa.
- Specialized accounts, alternatively referred to as swap-free accounts, comply with the core principles of Islamic finance by excluding swap charges and residual interest associated with overnight positions.
- CMTrading's Islamic Accounts are distinguished by their rigorous adherence to approved and Shariah-compliant financial instruments.
| 🔎 Account Type | 💶Investment Min | 📉 Spreads | 💳Bonus Potential | 🖺Features |
| 🥇 Basic | $250+ | Regular | Up to $100 | Daily reviews, eBooks, Online Education |
| 🥈Trader | $2,000+ | Plus | Up to $500 | 1-on-1 Zoom training, Trading Central signals |
| 🥉 Gold | $20,000+ | From 1.9 pips | Up to $8,000 | 3 Risk-Free Trades, Dedicated Analyst |
| 🏅 Premium | $85,000+ | Tight | Up to $40,000 | ECN access, Personalized seminars |
| 🥇VIP Club | $250,000+ | Raw/Lowest | Up to $150,000 | Face-to-face with founder, 9% annual interest |
| 📝Sign up | 👉 Open Account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following 6 financial activities are restricted:
- Overnight rollovers - this involves the incurrence or receiving of swap points on positions that are held open for longer after the trading day has concluded, which is prohibited by Sharia law.
- Margin deposits and interest - this involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
- Loans – Followers of Sharia law have funds transferred by either a bank or other financial institution, and it involves interest terms, which are prohibited by Sharia law as per the key element, Riba.
- Margin traded stocks - and result in the trader being liable for paying interest, amounts to Riba, since money is borrowed from the broker to buy or sell such equities, and this is prohibited by the Sharia laws.
- Short sales - affect mostly shares and involve borrowing and subsequent sale of an asset, and are prohibited.
- Forward sales affect forward contracts as well as the trading of futures contracts and involve the buying and selling of contracts at a future date according to a price agreed upon on the day of entering such a contract.
| ❌ Restrictions | 📝 Definition |
| ☪️ Overnight rollovers | This involves the incurrence or receiving of swap points on positions that are held open for longer after the trading day has concluded which is prohibited by Sharia law. |
| ☪️ Margin deposits and interest | This involves the accrual of interest on funds that are deposited into the trading account, which is prohibited. |
| ☪️ Loans | When followers of Sharia law have funds transferred by either a bank or other financial institution and it involves interest terms, it is prohibited by Sharia law as per the key element, Riba. |
| ☪️ Margin traded stocks | Stocks that are traded on margin and result in the trader being liable for paying interest, amounts to Riba, since money is borrowed from the broker to buy or sell such equities, and this is prohibited by the Sharia laws. |
| ☪️ Short sales | Affects mostly shares and involves borrowing and subsequent sale of an asset and are prohibited. |
| ☪️ Forward sales | Affects forward contracts as well as the trading of futures contracts and involve the buying and selling of contracts at a future date according to a price agreed upon on the day of entering such a contract. |
What are the steps involved in opening a CM Trading Islamic Account?
Traders who are eligible for an Islamic Account must usually first complete a live account application and can then apply for the Islamic Account. There may be more documents, apart from proof of identity and residential address, that CM Trading may require before approving an application for an Islamic account. [video width="1920" height="1080" mp4="/storage/images/2023/12/How-to-CM-Trading-.mp4"][/video]
Step 1: Register Online
- Visit CMTrading’s official website and complete the registration form with your personal details, such as name, email, phone number, and password.
- Select your preferred account type based on your trading needs and experience.
Step 2: Verify Your Identity
- Upload the required verification documents, including proof of identity (passport or ID card) and proof of residence (utility bill or bank statement).
- This step complies with regulatory requirements and ensures the safety of your account.
Step 3: Fund Your Account
- Choose a convenient deposit method such as bank transfer, credit/debit card, or e-wallet.
- Fund your account with the minimum required deposit, depending on the account type you selected during registration.
Step 4: Start Trading
- Download the CMTrading platform (MT4 or WebTrader), log in with your account credentials, and begin trading.
- You can also practice strategies using the demo account before transitioning to live trading with real funds.
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| 6 |  | Read Review | FSA, FSC, FSCA, ASIC, CMA | $20 | Visit Now |
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| 8 |  | Read Review | ASIC, CySEC, FSCA, FSA, FSC, CMA | $100 | Visit Now |
| 9 |  | Read Review | CySEC, MWALI, FSCA | $25 | Visit Now |
| 10 |  | Read Review | FSA, CySEC, FSCA, FSC | $10 | Visit Now |
CMTrading At a Glance
| Company Information |  |
| 📅Year Founded | 2012 |
| ⚙️Current CEO | Ibrahim Abu Aita |
| Founder/s | Daniel Kibel, Maurice Krawczyk |
| 🧑🏻💻Amount of staff | 250 |
| 👩💻Amount of active traders | Over 2,000,000+ registered members worldwide. |
| 🌐Publicly Traded (Listed Company) | No (Private Company). |
| 🏦 Headquartered | South Africa |
| Regulation and Security | |
| 🛡️Regulation | FSCA (South Africa): GCMT South Africa Pty Ltd is regulated by the Financial Sector Conduct Authority, License No. 38782. FSA (Seychelles): GCMT Limited is regulated by the Financial Services Authority of Seychelles, License No. SD070. |
| 🌎Country of regulation | South Africa and Seychelles. |
| 💻Account Segregation | Yes (Client funds are kept in top-tier banks separate from company operational funds). |
| 🪫Negative balance protection | Yes (Available on all retail accounts). |
| 🪙Fund Withdrawal Fee | Generally No (3rd party provider fees may apply). CMTrading may charge fees on inactive accounts with no trading volume. |
| 📊Spreads from | Basic/Trader: Regular/Plus spreads. o Gold/Premium/VIP: As low as 1.5 - 1.9 pips on EUR/USD. |
| 💸Commissions | $0 (CMTrading is compensated via the spread for most account types). |
| ➕ Accounts: | Live: Basic, Trader, Gold, Premium, VIP Club. Demo: Available (Free, access to MT4/ WebTrader). Islamic: Available upon request (Swap-free). |
| 💰 Minimum Deposit: | Basic: $250+ Trader: $2,000+ Gold: $20,000+ Premium: $85,000+ VIP: $250,000+ |
| 📇 Account Base Currencies: | USD, EUR, GBP, ZAR. |
| 💱Number of base currencies supported | 4 |
| 💳 Institutional Accounts: | Yes (Corporate accounts available). |
| 🚀Swap Fees | Charged daily for positions held past 21:00 GMT. Calculated based on interest rate differentials. (Swap-free for Islamic accounts |
| 📈Leverage | Up to 1:200 for Forex; up to 1:100 for Indices/Commodities. |
| 📏Margin requirements | Margin Call: Typically 50%. Stop Out: 20%–30%. |
| ☪️Islamic account (swap-free) | Yes, swap-free on request (admin fees may apply after a certain holding period). |
| 💻 Demo Account: | Yes (No expiry if active, $50,000 virtual funds, MT4/Web access). |
| 💳Deposit Options | Credit/Debit Cards (Visa/Mastercard), Wire Transfer, EFT, Neteller, Skrill, M-Pesa, Local Mobile Money. |
| 💵Withdrawal Options | Same as deposit |
| 🕞 Processing Time: | Deposits: Immediate (Card/E-wallet); 2–3 business days (Wire/EFT). Withdrawals: Processed within 3 business days; 3–7 days to reach bank account. |
| Welcome Bonus | No |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MetaTrader 4 (MT4), CMTrading WebTrader |
| 👩💻OS Compatibility | Windows, Mac (Web), iOS, Android |
| ⌛ Order Execution Time: | Instant execution/Market execution (High speed via MT4). |
| 🤖Advanced AI Tools | AI news, AI Chart scanner, Trading central |
| 📉Trading Instruments | Forex – 40 [AUDCAD, EURUSD, GBPJPY, USDMXN, EURHUF] Stocks– 65 [APPLE, TSLA, AMZN, SAP, BMW, NVIDIA, GOOGL Indices – 13 [FRANCE40, GERMANY30, US30, UK100, US500] Commodities – 11 [CRUDE.OIL, XAUUSD (Gold), XAGUSD (Silver), CORN, WHEAT] Crypto – 11 [BTCUSD, ETHUSD, LINKUSD, SOL, SHIBUSD, ADA] |
| 🖥️Forex trading tools | Trading Central signals, Daily Market Analysis, AutoChartist, Economic Calendar. |
| Customer Support | |
| 🗣️Live chat availability | Yes, available 24/5 |
| 📱Customer Support email address | support@cmtrading.com |
| 📞Customer Support Contact Number | +27 21 109 8267. |
| 🗣️Languages supported on Website | English, Arabic, French, Spanish |
| Educational Resources and Support | |
| 📍Beginners Trader Friendly UX | Yes |
| 🖺Forex course | Yes |
| 📆 VPS Hosting: | Available (Free for high-tier accounts like Gold/Premium). |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes |
| 📚 Resources: | 1-on-1 coaching (Gold+), Daily reviews, Training videos |
| 🖺 Forex Course: | Yes (E-books and video series for all levels). Online Trading Academy |
| Partnerships and Programs | |
| 🪪Affiliate program | Refer a Friend: $100 bonus for both parties (on $250 deposit). |
| 📋IB Program | Custom commission/rebates based on lot volume. |
| 👨🏫Amount of partners | Over 50,000 |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Notably sponsors local sports and seminars in South Africa and Nigeria. |
| 🪙Rebate program | Up to 20% cash back rebate for Gold accounts and above |
| 👤Social Media Platforms | Instagram, LinkedIn, YouTube, X (Twitter). |
| South African Trader Specific Information | |
| Does CM Trading Accept South African Traders? | Yes |
| Is CM Trading regulated by the South African regulatory body (FSCA)? | Yes |
| Does CM Trading offer an Affiliate Program for South African Traders? | Yes |
| Does CM Trading allow opening trading accounts in ZAR (South African Rand)? | Yes |
| 📝Sign up | 👉 Open Account |
CMTrading Customer Reviews
- The customer base at CMTrading assesses the company positively due to its easy-to-use platforms and multiple trading accounts, together with its quick customer service team.
- Users appreciate the educational resources at CMTrading since these help traders of all skill levels enhance their abilities.
- Several customers have voiced issues regarding withdrawal procedures since they feel these procedures could use improvement.
- The trading community recognizes CMTrading positively because it provides social trading alongside competitive bonuses as part of its useful feature set.
| 🔎 Feature | Customer Feedback | Rating |
| 💻Trading Platforms | User-friendly and feature-rich platforms | ⭐⭐⭐⭐⭐ |
| 📚Educational Resources | Helpful for beginners and experienced traders | ⭐⭐⭐⭐⭐ |
| 📞Customer Support | Responsive but could improve in resolution time | ⭐⭐⭐⭐☆ |
| 💳Withdrawal Process | Some delays reported, but funds are received | ⭐⭐⭐☆☆ |
| 🎁Bonus Offers and Promotions | Attractive offers, but terms should be clearer | ⭐⭐⭐⭐☆ |
| 👥Social Trading | Well-received feature, beneficial for beginners | ⭐⭐⭐⭐⭐ |
| 👍Overall Satisfaction | Mostly positive, with some areas for improvement | ⭐⭐⭐⭐☆ |
Customers Ratings
| 🔎 Feature | 📝 Feedback Summary | ⭐ Rating |
 | Mixed reviews, with some praising execution but others noting slippage issues. | ⭐⭐⭐☆☆ |
 | Concerns about withdrawals and customer service, but some positive experiences. | ⭐⭐☆☆☆ |
 | Users report ease of use but mixed opinions on spreads and fees. | ⭐⭐⭐☆☆ |
 | Generally positive, but some complaints about account verification delays. | ⭐⭐⭐⭐☆ |
 | Mixed feedback, with both satisfied and frustrated clients. | ⭐⭐⭐☆☆ |
 | Good trading conditions mentioned, but withdrawal speed is a concern. | ⭐⭐⭐☆☆ |
Pros and Cons
| ✅Pros | ❌ Cons |
| Established in 2011 | Does not offer VPS |
| Islamic accounts available | Limited range of instruments |
Conclusion
CM Trading Islamic Account offers swap-free trading options on all 4 of its trading accounts. Swap-free accounts carry no swap charges or rollover interest to traders on positions held overnight, according to research in South Africa.
You might also like:
CM Trading Account Types OverviewCM Trading Demo AccountCM Trading Fees and SpreadsCM Trading Minimum Deposit CM Trading Sign up Bonus
Frequently Asked Questions
What is a CM Trading Islamic Account?
It is a Sharia-compliant, interest-free (swap-free) trading account designed for Muslim traders. It eliminates overnight swap charges, ensuring that no interest is accrued or paid on positions held beyond a trading day.
Are there additional fees or higher costs for Islamic Accounts?
No, CM Trading does not impose extra commissions, widen spreads, or charge admin fees for Islamic (swap-free) accounts. Trading costs generally mirror those of regular accounts.
Which instruments are not supported on Islamic Accounts?
The Islamic account supports many financial instruments but explicitly excludes stocks and cryptocurrencies—trading is limited to other asset types.
What documentation is required to open an Islamic Account?
To qualify, traders must submit proof of being Muslim. This can be shown via a passport indicating religion, an Imam’s attestation, or a birth certificate.
How do I convert my account to an Islamic one?
First, open a standard CM Trading account and complete KYC procedures. Then email customer support with documentation and request conversion to a swap-free Islamic account.
How competitive are the spreads on the Islamic Account?
Spreads remain competitive for major pairs like EUR/USD, starting around 0.9 pips on Gold or Premium accounts, ensuring fair trading costs under the swap-free setup.
How does CM Trading ensure Sharia compliance in this account?
By eliminating overnight interest (riba) and swap fees, key prohibitions in Sharia law, the account allows positions to be held without interest-based charges, respecting Islamic financial principles.
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