FP Markets Islamic Account offers an Islamic swap and interest-free trading account. Ideal for traders who, due to their religious beliefs, are unable to earn or pay interest. The Islamic forex trading environment is ideal for traders following strict Sharia law with a fixed fee instead of a swap.
FP Markets Islamic Account – key points, quick overview:
- ☑️Overview
- ☑️FP Markets Fees, Spreads, and Commissions
- ☑️FP Markets At a Glance
- ☑️FP Markets Customers Review
- ☑️Pros and Cons
- ☑️Frequently Asked Questions
Overview
- FP Markets, a major player in the worldwide financial trading environment, has adjusted its services to fit the special demands of South African traders, providing a one-of-a-kind combination of conditions and features tailored to this market.
- Two of FP Markets' notable advantages for South African traders are deep liquidity pools and narrow spreads.
- This feature is handy for forex and CFD traders because it allows for more precise and cost-effective trading tactics.
What exactly is an FP Markets Islamic Account?
MT4/Islamic Account
- FP Markets offers an MT4/Islamic Account built exclusively for South African traders who follow Islamic finance principles.
- This account is designed per Sharia law, which prevents the accrual of interest or swaps on trades.
- The Islamic Account at FP Markets assures no swaps or interest are paid on overnight positions, making it a good option for Muslim traders who want their trading activity to be consistent with their religious views.
MT5 Islamic Standard Account
- The MT5 Islamic Standard Account is intended for traders who seek a Sharia-compliant account.
- This account type does not charge swaps or interest on overnight positions, an essential condition for Islamic finance.
- In other ways, it is similar to the Standard Account, but it offers larger spreads with no commission fees, making it acceptable for Muslim traders who follow Islamic financial principles.
| 🔎 Account Feature | MT4/5 Islamic Standard Account |
| 💴 Minimum Deposit | 1,200 ZAR / AU$100 |
| 📈 Average Spreads | Variable, from 1 pip |
| 📉 Instruments Available | 70+ Forex pairs Precious Metals Indices Commodities |
| 📊 Maximum Leverage Ratio | 1:500 |
| 📌 Execution Type | ECN |
| 📍 Commissions | None |
| 💹 Rebates EAs Offered | Yes |
| 📱 Mobile App Offered | Yes |
| ▶️ VPS Available | Yes |
| 📝Sign up | 👉 Open Account |
MT4/5 Islamic Raw Account
- The MT4/5 Islamic Raw Account, like the Islamic Standard Account, is Sharia-compliant. It does not offer swaps or interest on overnight positions.
- This account is similar to the Raw Account in that it offers tighter spreads but with the addition of commission fees.
- Furthermore, the MT4/5 Islamic Raw Account is an excellent option for Muslim traders who want the benefits of smaller spreads but do not mind paying commissions on their trades.
| 🔎 Account Feature | 🥇MT4/5 Islamic Raw Account |
| 💴 Minimum Deposit | 1,200 ZAR / AU$100 |
| 📈 Average Spreads | Variable, from 0.0 pips |
| 📉 Instruments Available | 70+ Forex pairs Precious Metals Indices Commodities |
| 📊 Maximum Leverage Ratio | 1:500 |
| 💹 Execution Type | ECN |
| 💷 Commissions | US$3 per side |
| 📌 Rebates EAs Offered | Yes |
| 📍 Mobile App Offered | Yes |
| ⏩ VPS Available | Yes |
| 📝Sign up | 👉 Open Account |
How to open an FP Markets Islamic Account step-by-step
Traders can open an Islamic Account with the following steps: [video width="1920" height="1080" mp4="/storage/images/2023/12/How-to-FP-Market.mp4"][/video]
Step 1: Open a Live Account
- Navigate to the option for creating a new account on the official FP Markets website, typically found in the main menu or homepage.
Step 2: Complete the application
- Complete the initial application with your basic information, including your full name, email address, and country of residence.
- Provide additional personal information, such as your date of birth, current address, and occupation.
Step 3: Choose the type of trading account
- Next, choose the type of trading account that best suits your needs, the trading platform you prefer, and the base currency for your account.
- Complete the brief quiz to demonstrate your understanding of financial products.
- This ensures that you are well-versed in the complexities of trading.
- You must upload documentation that verifies your identification and current residence address as part of the Know Your Customer (KYC) procedure, which is required for account approval.
Step 4 – Request an Islamic Account
- Email the account number to onboardingsc@fpmarkets.com and request that it be converted to Islamic
Step 5 - Wait for a confirmation
- Please wait for a confirmation from our Onboarding team
What other features does FP Markets’ Islamic Account have?
- Zero interest/swap charges on selected pairs.
- Similar trading conditions, services, and features as FP Markets trading accounts; the only difference being the elimination of non-Sharia compliant interest charges.
- Stable, secure, and intuitive leading trading platforms with no re-quotes, nor any hidden charges.
- Fast execution under 40 milliseconds.
- Free and unlimited access to MetaTrader 4 and MetaTrader 5 trading platforms, including WebTrader, and Android and iOS platforms.
- Compatible with a variety of trading strategies, including Scalping, Swing Trading, and Day Trading.
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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 |
FP Markets Customer Reviews
- Reviews and ratings of FP Markets are illustrious mainly because of the reasonable trading environment and customer-centric policies.
- It excels in low spreads, fast execution, and a variety of account types, making it more attractive to most traders.
- The platform has a full arsenal of market tradable instruments comprising phenomena like forex, CFDs, and even cryptocurrencies, very strong trading platforms of MetaTrader 4 and 5, too.
| Aspect | Feedback | Rating (Out of 5) |
| ⭐Overall Rating | Consistently high ratings for reliability, transparency, and support. | ⭐⭐⭐⭐⭐ |
| 💹Spreads | Tight spreads are appreciated by traders for better trading conditions. | ⭐⭐⭐⭐ |
| ⚡Execution Speed | Fast execution is a key strength that traders value highly. | ⭐⭐⭐⭐⭐ |
| 💼Account Types | Diverse account types catering to different trading needs. | ⭐⭐⭐⭐ |
| 📉Tradable Instruments | A broad range of instruments, including forex, CFDs, and cryptocurrencies, is highly praised. | ⭐⭐⭐⭐ |
| 💻Trading Platforms | MetaTrader 4 and MetaTrader 5 provide reliable platforms for various traders. | ⭐⭐⭐⭐ |
| 💬Customer Support | Excellent customer support, responsive and attentive. | ⭐⭐⭐⭐ |
| 🌟Reputation | Strong reputation in the trading community for being reliable and transparent. | ⭐⭐⭐⭐ |
Customers Ratings
| 🌐 Platform | 📝 Feedback Summary | ⭐ Rating |
 | Excellent, effective, fast, and professional customer service | ⭐⭐⭐⭐⭐ |
 | Some users praise the broker's low fees, fast execution, and wide range of financial instruments. However, others have criticized the platform's user interface, customer support, and restrictions on certain account types. | ⭐⭐⭐☆☆ |
 | Few reviewers have raised concerns about the company's leverage and potential fees. | ⭐⭐⭐☆☆ |
 | Generally positive; users commend competitive fees, swift execution, and diverse trading platforms. | ⭐⭐⭐⭐⭐ |
 | FP Markets for its competitive spreads, reliable trading platform, and excellent customer support. However, some reviewers mention difficulties with account verification and withdrawal processes. | ⭐⭐⭐☆☆ |
 | Predominantly positive feedback users appreciate outstanding customer support and reliable trading experience. | ⭐⭐⭐⭐⭐ |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Easy Islamic Account opening process | Swap-free status on Islamic Account only available for 5 days of the week |
| No additional fees on Islamic Account | |
| Similar trading conditions on Islamic Account |
Conclusion
The FP Markets Islamic Account is a well-structured solution for Muslim traders seeking Sharia-compliant trading conditions without compromising on competitive pricing or market access. With no swap or overnight interest charges, it adheres strictly to Islamic finance principles while offering tight spreads starting from 0.0 pips on Raw accounts and 1.0 pips on Standard accounts.
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Frequently Asked Questions
Are there additional charges on the Islamic account?
No. FP Markets does not apply additional fees to its Islamic accounts, ensuring fairness for traders following Sharia principles. Only standard trading costs like spreads and commissions (where applicable) are charged, without hidden swap or overnight interest fees.
What are FP Markets’ spread costs on an Islamic Account?
Islamic Standard Account spreads start from 1.0 pips, while Islamic Raw Account spreads start from 0.0 pips. This competitive pricing allows Muslim traders to access low-cost trading without swap charges, ensuring compliance with Islamic finance principles.
Are FP Markets regulated?
Yes. FP Markets is regulated by ASIC under AFSL 286354 and by CySEC under license 371/18. These top-tier regulators ensure transparency, investor protection, and compliance with strict global standards, giving traders confidence in the broker’s operations.
Is FP Markets a recommended forex trading broker for experts and beginners?
Yes. FP Markets serves both beginners and experienced traders by offering low spreads, fast execution, strong regulation, versatile platforms, and educational resources. Its flexible account types cater to a wide range of trading strategies and experience levels.
For how long is the demo account valid?
FP Markets offers a 30-day demo account, providing traders ample time to test strategies, understand platform features, and practice risk management. After expiry, traders can open a new demo or transition to a live account for real trading.
Which live trading accounts does FP Markets offer?
FP Markets provides Standard and Raw accounts on MetaTrader platforms, plus Standard, Platinum, and Premier accounts on Iress platforms. This selection accommodates different trading styles, from commission-free options to low-spread accounts designed for high-volume or professional traders.
What are the available deposit currencies for a live trading account?
FP Markets supports multiple funding currencies, including AUD, USD, EUR, GBP, SGD, HKD, NZD, CHF, JPY, and CAD. This flexibility helps traders avoid conversion costs and manage accounts in their preferred base currency for convenience and efficiency.
What is the minimum deposit for FP Markets?
The minimum deposit is $100 or equivalent. This low entry barrier allows new traders to start small while still enjoying FP Markets’ competitive trading environment, advanced platforms, and diverse asset offerings without significant upfront capital requirements.
How do I make a deposit and withdrawal with FP Markets?
FP Markets supports over 10 payment methods, including credit/debit cards, bank transfer, BPay, Poli, PayPal, Neteller, Skrill, PayTrust, Ngan Luong, FasaPay, Online Pay, and broker-to-broker transfer. This wide selection ensures flexible, secure, and convenient funding options for traders.
Does FP Markets charge withdrawal fees?
Yes. Withdrawal fees vary by method: A$10 for international bank wire, $18 for Online Pay, 1,000 VND + 1% for Ngan Luong, A$25 for broker transfers, plus varying percentages for Neteller, Skrill, FasaPay, PayTrust, and PayPal.
How long does it take to make a withdrawal?
Processing times depend on the method. E-wallet withdrawals are instant, domestic bank transfers take up to three business days, and international bank wires may take up to ten days. Traders should plan accordingly when withdrawing funds.
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