Overall, EverestCM offers Islamic swap-free trading on 2 retail trading accounts namely a Raw spread account and a Classic trading account. EverestCM offers extended swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
EverestCM at a glance
| 🔍 Broker's name | EverestCM |
| 🏛 Headquarters | Port Louis, Mauritius |
| 📅 Year founded | 2020 |
| 🏛 Regulating Authorities | FSC |
| 🌐 Countries not accepted for trade | USA, Seychelles, Mauritius, North Korea, Iran, Japan, Belgium, and Canada |
| 📒 Demo account | Yes |
| ☪️️ Islamic account | Yes |
| 📒 Institutional account | Yes |
| 💻 Managed accounts | Yes |
| 📊 Maximum leverage | 1:500 |
| 💳 Minimum deposit | ZAR R1600 / $100 |
| ➕ Deposit options | Visa, MasterCard, UnionPay, Boletol, WebPay, Skrill, Neteller, BCP, Bank Wire Transfer |
| ➖ Withdrawal options | Visa, MasterCard, UnionPay, Boletol, WebPay, Skrill, Neteller, BCP, Bank Wire Transfer |
| 📊 Tradeable assets offered | Forex, indices, stocks, energies, precious metals, and cryptocurrencies. |
| 💬 Languages supported on website | Chinese, English, Indonesian, Malay, Portuguese, Spanish |
| 💬 Customer support languages | Chinese, English, Indonesian, Malay, Portuguese, Spanish |
| 💻 Platforms provided | MetaTrader4, and MetaTrader5 |
| 📲 OS Compatibility | Desktop, PC, Mac, Web, iOS, and Android devices |
| ☎️ Customer service hours | 24/5 |
| 👉 Open a account | Click Here |
Overall Rating
4/5
Rated #590 of
Recommended FX Brokers
Minimum Deposit R1600 ZAR / $100
Regulators FSC
-MT4 and MT5
Yes
📈 Total Pairs
250+
Islamic Account Yes
Trading Fees Low
24 Hours
EverestCM Islamic account Review – 10 Key Point Quick Overview Revealed (2025):
EverestCM Islamic account overview- What exactly is an Islamic Account?
- Which financial activities are restricted and prohibited by Sharia law?
- What are the steps involved in opening an EverestCM Islamic Account?
- What are EverestCM’s spread costs on an Islamic Account?
- What other features does EverestCM’s Islamic Account have?
- EverestCM Islamic account Pros and Cons
- EverestCM Customer Reviews
- Conclusion
- Frequently asked questions
EverestCM does not charge deposit fees or withdrawal fees and will cover all bank processing charges. Currency conversion fees are applicable if the wrong currency is used.
EverestCM Islamic account overview
EverestCM is a relatively young Foreign Exchange and Contracts for Difference (CFD) Provider that has been in business since the year 2025. Port Louis, which is located on the island nation of Mauritius, serves as the company’s headquarters.
The broker stands apart from other brokers in the industry due to the fact that it makes an effort to bring together the world of retail trading and the world of institutional trading.
With the introduction of its Raw Spread Trading Account, EverestCM has found a means to provide clients with the most competitive price for forex and CFSs. This trading account gives the trader access to the most competitive spreads, as well as cutting-edge execution technology and extensive liquidity pools.
Traders have access to a wide range of CFDs through their accounts with EverestCM. These CFDs include forex, indices, spot metals, commodities, equities, and cryptocurrencies. MetaTrader4 and MetaTrader5, two of the most popular and widely used trading platforms in the world, are used for trading.
Traders have the opportunity to choose between two distinct varieties of live accounts, namely a Raw Spread Trading Account and a Classic Trading Account. Additionally, the broker provides a demo account in addition to an Islamic Swap-Free Account for traders who adhere to the Muslim religion.
EverestCM is a brand name of Myrtle Ltd., which is approved and regulated by the Mauritius Financial Services Commission. Even though EverestCM is operated from an offshore location, Myrtle Ltd. is responsible for its operations (FSC). It gives dealers the peace of mind that their client’s money is held in separate accounts.
EverestCM does not offer its services to citizens of the United States of America, the Republic of Seychelles, the Republic of Mauritius, the Islamic Republic of Iran, Japan, Belgium, or Canada, or any other country whose local regulations define the provision of such investment offerings as illegal.
What exactly is an Islamic Account?
An Islamic Account, which is offered by most brokers, is not a standalone account, even though some brokers dedicate one account to being an Islamic or Swap Free account. In most cases, this is an option offered by Forex brokers.
Islamic Accounts are also provided by brokers who serve Middle Eastern clients along with clients from other jurisdictions and offer certain features that are in line with the Sharia law, which prohibits the accrual of interest on funds deposited into the account.
The other important feature of an Islamic Account is that transactions must be settled immediately, requiring that currencies be transferred from one account to the other right after the transaction has been completed and therefore paid for in full.
There are two key elements of the Islamic law that relate specifically to trading accounts, these elements are Riba and Gharar
Riba is the prohibition of generating money from money, which in this case specifically refers to an interest, which is not allowed according to Sharia law. This type of interest is seen as both unjust and exploitive gains pertaining to trade or business.
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following are affected greatly:
Overnight rollovers – which involve the incurrence or receiving of swap points on positions that are held open for longer after the trading day has concluded at the New York close at 5 PM EST which is prohibited by the Sharia law.
Loans – when followers of the Sharia law have funds transferred by either a bank or other financial institution and it involves interest terms, this is prohibited by the Sharia law as per the key element, Riba.
Margin deposits and interest – which involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
Trading on margin – stocks that are traded on margin result in the trader being liable for paying interest, which amounts to Riba, as money is borrowed from the broker to buy or sell such equities, which is prohibited by the Sharia law.
Forward sales – which affects forward contracts as well as the trading of futures contracts which involves the buying and selling of contracts at a future date according to a price agreed upon on the day of entering such a contract.
Short sales – which affects mostly shares and involves borrowing and subsequent sale of an asset, which is prohibited.
What are the steps involved in opening an EverestCM Islamic Account?
Only clients of Islamic faith are eligible for Islamic Swap-Free accounts, which are subject to EverestCM’s approval.
Traders must first open one of the two live accounts available, then request that it be converted to an Islamic account. The trader will be able to trade with the account only after it has been approved.
What are EverestCM’s spread costs on an Islamic Account?
It is not very clear on EverestCM’s website if there are any additional spread costs on the Islamic Account type. The Islamic trading accounts, also known as swap-free Forex trading accounts does, however, allow you to trade without having to pay swaps or interest charges on overnight positions.
What other features does EverestCM’s Islamic Account have?
When making use of the EverestCM’ Islamic account, traders can expect that interest is not charged on contracts that are held for more than 24-hours. There is a consistent zero rollover interest. There are also no additional rollover commissions where contracts are held for longer than 24-hours. Traders have access to Expert Advisors, which allow for automated trading.
Before registering an account, traders should ensure that they contact the support desk to find out more regarding such restrictions and/or limits.
Overall Rating
4/5
Rated #590 of
Recommended FX Brokers
Minimum Deposit R1600 ZAR / $100
Regulators FSC
-MT4 and MT5
Yes
📈 Total Pairs
250+
Islamic Account Yes
Trading Fees Low
24 Hours
EverestCM Islamic account Pros and Cons
| ✔️ Pros | ❌ Cons |
| Islamic Account offered | Clients from the USA, Seychelles, Mauritius, North Korea, Iran, Japan, Belgium, and Canada not accepted |
| Demo Account offered | Only two live account types offered |
| Commission-free trading offered on the Classic Trading Account | |
| Segregated client funds used | |
| MT4 | |
| MT5 |
EverestCM Customer Reviews
I am glad the withdrawal time is so…
I am glad the withdrawal time is so quick and, even more importantly, the withdrawal exchange rate is so high compared to the others. I am happy that the transaction costs are low and there is no spread. It is a great platform for beginners and experienced traders alike.
My Memorable experience with EverestCM
Being new to trading, this has been the finest experience thus far with timely and comprehensive responses to clients’ concerns and excellent overall assistance.
Thank you so much to the customer service team.
Newbie in Trading
As a newbie in trading, I suggest this broker! Speacially for scalpers, because of the low spreads, cheap costs and quick execution, particularly in the terms of withdrawals. Hopefully, EverestCM will continue to enhance facilities in the future so that it becomes the top broker. Thank you very much for your assistance. I like how it feels like I am growing as a trader as this broker is growing! Very nice experience
Conclusion
Overall, EverestCM offers Islamic swap-free trading on 2 retail trading accounts namely a Raw spread account and a Classic trading account. EverestCM offers extended swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
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Frequently asked questions
Trading environment
How many instruments can I trade with EverestCM?
You can trade the following instruments:
- Forex
- Indices
- Stocks
- Energies
- Precious metals
- Cryptocurrencies
Which platforms are supported by EverestCM?
MetaTrader4 and MetaTrader5.
Does EverestCM offer leverage?
Yes. Leverage of up to 1:500.
What spreads can I expect with EverestCM?
Spreads typically start from 0.0 pips on the Raw Spread Trading Account and 1.6 pips on the Classic Trading Account.
Does EverestCM charge commission?
There are no commission charges on the Classic Account, however, on the Raw Spread Trading Account, the commission charges are R56 ZAR or $ 3.50 per lot.
Are there additional charges on the Islamic account?
Not that can be seen from EverestCM’s website.
Is EverestCM regulated?
Yes. EverestCM is regulated by the Mauritius FSC.
Is EverestCM a recommended forex trading broker for experts and beginners?
Yes. EverestCM offers a trading environment for both beginners and expert traders.
What is the overall rating out of 10 for EverestCM?
8/10.
Accounts
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform. A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does EverestCM offer a demo account?
Yes. EverestCM does offer traders the option to open a demo account.
For how long is the demo account valid?
There is no time limit on the use of the demo account.
Does EverestCM offer the option of an Islamic Account?
Yes. EverestCM offers the option of an Islamic Account for traders of the Muslim faith.
Which live trading accounts does EverestCM offer?
EverestCM offers two live trading accounts namely a Classic Trading Account and a Raw Spread Trading Account. Both accounts are available for individuals, joint accounts or corporate.
What are the available deposit currencies for a live trading account?
Only three currencies are accepted, namely EUR, USD, and GBP.
Deposits and withdrawals
What is the minimum deposit for EverestCM?
R1600 ZAR /$100.
How do I make a deposit and withdrawal with EverestCM?
- Visa
- MasterCard
- UnionPay
- Boletol
- WebPay
- Skrill
- Neteller
- BCP
- Bank Wire Transfer
Does EverestCM charge withdrawal fees?
No. EverestCM does not charge any withdrawal fees. Traders may be subjected to transaction fees that are charged by their bank.
How long does it take to make a withdrawal?
According to the information on the broker’s website, all payment methods used for withdrawal will take place within 24 hours.
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