FXPesa currently does not offer an Islamic swap-free trading account for Muslim traders on any of their trading accounts.
FXPesa at a glance
| 🔍 Broker’s name | FXPesa |
| 📅 Year founded | 2019 |
| 🏛️ Publicly Traded (Listed Company) | No |
| ⚖️ Regulating authorities | CMA |
| 🌎 Country of Regulation | Kenya |
| ✴️ Account Segregation | ✅Yes |
| ✖️ Negative Balance Protection | ✅Yes |
| 🤝 Investor Protection Schemes | ✅Yes |
| 💱 Social/Copy Trading | ✅Yes |
| ▶️ Institutional Accounts | No |
| 👨🏼💼Managed accounts | No |
| 💹 Minor Account Currencies | KES, USD |
| 💰 Minimum deposit | R0 / $0 |
| 📒 Demo account | Yes |
| ☪️ Islamic account (swap-free) | No |
| ⏱️ Average Deposit/Withdrawal Processing Time | 1-3 business days |
| ➕ Deposit options | Wire/Bank transfer Debit/Credit cards E-Wallet Mobile payments |
| ➖ Withdrawal options | Wire/Bank transfer E-Wallet Mobile payments |
| 💷 Fund Withdrawal Fee | No |
| 📈 Spreads from | 0.0 pips |
| 💸 Commissions | Yes, variable |
| 🔑 Number of Base Currencies Supported | 2 (KES, USD) |
| 💳 Swap Fees | ✅Yes |
| 🔣 Maximum leverage | 1:400 |
| 📊 Margin Requirements | Variable |
| ⏲️ Order Execution Time | < 1 second |
| 📌 VPS Hosting | No |
| ➕ CFDs - Total Offered | Over 100 |
| 🗃️ CFD Stock Indices | ✅Yes |
| 📰 CFD Commodities | ✅Yes |
| 📑 CFD Shares | ✅Yes |
| 📊 Platform(s) provided | Equiti Trader MetaTrader 4 MetaTrader 5 |
| 📶 OS compatibility | Windows, Mac, iOS, Android |
| 🛍️ Tradable assets offered | Forex, Indices, Commodities, US Shares, UK Shares and EU Shares |
| 👥 Live Chat Availability | ✅Yes |
| 📧 Customer Support Email Address | support@fxpesa.com |
| 📱 Customer Support Contact Number | +254 (0) 709 710 000 |
| 🖥️ Social Media Platforms | Facebook, Twitter, LinkedIn |
| 💬 Languages supported on the website | English, Swahili |
| 💬 Customer support languages | Multilingual |
| ⏲️ Customer service hours | 24/6 |
| 🖇️ Forex Course | ✅Yes |
| 💻 Webinars | ✅Yes |
| 📚 Educational Resources | Articles, videos, tutorials |
| 🖍️ Affiliate Program? | ✅Yes |
| 😎 IB Program | ✅Yes |
| 💯 Do they sponsor any notable events or teams? | No |
| ⏩ Rebate Program | ✅Yes |
| 🥰 Does FXPesa Accept South African Traders? | ✅Yes |
| 📊 Is FXPesa Regulated by the South African Regulatory Body (FSCA)? | No |
| 🪙 Does FXPesa Offer an Affiliate Program for South African Traders? | ✅Yes |
| ❤️ Does FXPesa Allow Opening Trading Accounts in ZAR/Rands? | No |
| 🚀 Open an Account | Open Account |
Min Deposit
R0 / $0
Regulators
CMA
Trading Platform
MT4, MT5, FXPesa Trader
Crypto
No
Total Pairs
62
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
FXPesa Islamic Account Review – 10 Key Point Quick Overview (2025):
FXPesa Overview- What exactly is an Islamic Account For South African Traders?
- Why is interest discouraged or prohibited by Sharia law?
- What are FXPesa’s spread costs on an Islamic Account?
- What other features does FXPesa’s Islamic Account offer South African traders?
- FXPesa Customer Reviews
- FXPesa Pros and Cons
- Conclusion
- Frequently asked questions
Because of restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following are affected namely overnight rollovers, margin deposits and interest, loans, margin trading, short sales, and forward sales.
FXPesa Overview
According to research in South Africa, FXPesa is a Kenyan-based retail forex and CFD broker. FXPesa is regulated by CMA, offering South African traders a safe and transparent trading environment.
FXPesa is the trading arm of EGM Securities, a trusted and well-regulated name in the forex trading world. FXPesa employs an NDD model and provides South Africans with tight and competitive spreads.
Most traders all around the globe can utilize FXPesa’s trading services and solutions. However, traders from a few countries, like the United States and Israel, are unable to do so.
FXPesa offers trading circumstances that are among the most competitive in the industry. These conditions include tight spreads, minimal fees, and rapid transaction execution times at the most affordable costs.
Traders have access to a wide range of simple deposit and withdrawal methods, and customer service is available six days a week, twenty-four hours a day.
FXPesa has the goal of being the broker of choice for traders of all experience levels by providing consistent platform reliability, straightforward pricing, low-latency transaction execution, and trustworthy customer support.
What exactly is an Islamic Account For South African Traders?
An Islamic, or swap-free, trading account is allowed by Islamic Sharia law. These accounts are based on the Islamic principle where interest is not applied to positions that are held open for longer than a trading day after the trading day has concluded.
Islamic Accounts are provided by brokers who serve Middle Eastern clients along with clients from other jurisdictions and offer certain features that are in line with 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.
Two key elements of Islamic law 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 on trade or business.
Why is interest discouraged or prohibited by Sharia law?
| 💠Financial Activities restricted & prohibited by Sharia law | 📈 FXPesa |
| Overnight rollovers | 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 |
| Margin deposits and interest | The accrual of interest on funds that are deposited into the trading account |
| Loans | When followers of the Sharia law have funds transferred by either a bank or other financial institution and it involves interest terms |
| Trading on margin | Stocks that are traded on margin result in the trader being liable for paying interest |
| Short sales | Affects mostly shares and involves borrowing and subsequent sale of an asset |
| Forward sales | 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 |
Because of restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following are affected namely overnight rollovers, margin deposits and interest, loans, margin trading, short sales, and forward sales.
What are FXPesa’s spread costs?
Because varying types of South African traders will utilize diverse types of accounts based on their unique needs and trading objectives, the spreads that they will be charged will be different for each kind of account. This is because each type of account is intended to suit a different kind of trader.
The following is a list of the standard spreads that traders might anticipate seeing on their accounts:
Executive Account – 1.4 pips EUR/USD
Premiere Account – 0.0 pips EUR/USD
What other features does FXPesa offer South African traders?
Some typical features that Muslim traders in South Africa can expect from FXPesa include:
Competitive spreads and commissions from $7 on the Premiere Account.
Micro-lot trading from 0.01 lots.
Unlimited access to the demo account.
Low minimum deposit requirements when comparing the features offered.
Customer support is available 24 hours a day, 6 days a week.
Margin call of 100% along with Stop-out level of 30%.
Market execution on transactions and trades.
Zero-pip spreads on the Premiere Account.
Decent leverage ratios up to a maximum of 1:400.
Access to robust, user-friendly trading platforms, terminals, and trading apps.
FXPesa Customer Reviews
the best foex company i ever deal with…
the best foex company i ever deal with in Africa specially in kenya// so qiuck in deposit also in withdrawing more convianient really really i liked so much,,,,,,,,,,,,,,,,,,,, thank you EGM and Fxpesa keep going guys
Min Deposit
R0 / $0
Regulators
CMA
Trading Platform
MT4, MT5, FXPesa Trader
Crypto
No
Total Pairs
62
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
FXPesa Pros and Cons
| ✔️ Pros | ❌ Cons |
| More than 60 different currency pairings are available for trading via FXPesa | FXPesa does not provide South African retail traders with any negative balance protection |
| There is a significant amount of maximum leverage available | If the trading account goes dormant after 180 days, there is an inactivity fee applied |
| The registration for the live account may be completed easily | South Africans could face currency conversion fees |
| There are four different trading platforms available to users | There is no ZAR-denominated account offered |
| The FXPesa sample account is available to traders at no cost and with unrestricted access | Withdrawal fees are charged on some payment methods |
| There are several options available in terms of financial markets | The spreads are not the lowest on the entry-level account |
| There is a wide variety of choices available for deposits and withdrawals | |
| There are no costs associated with the first deposit | |
| FXPesa offers MT4 as well as MT5 | |
| Mobile trading options are provided |
Conclusion
Overall FXPesa does not offer Islamic swap-free trading account. According to research in South Africa, FXPesa is a Kenyan-based retail forex and CFD broker. FXPesa is regulated by CMA, offering South African traders a safe and transparent trading environment.
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Frequently asked questions
How do you register an FXPesa account?
You can select the option for a Live Account from the official website of FXPesa, complete the form, verify your identity and residential address, fund your account, and start trading.
Does FXPesa have a demo account?
Yes, FXPesa offers a free and unlimited demo account that can be used by both novice and professional South African traders.
The registration for the demo account is straightforward and can be completed in a few minutes.
How do I deposit to FXPesa?
Once your account is verified, you can log into the client portal and navigate to the option for deposits.
You can select the option to view the deposit methods, choose one, choose the account that you want to fund, confirm that you are receiving funds from a third party, and provide your deposit amount and currency to proceed.
What is the minimum deposit for FXPesa?
The minimum deposit requirement for FXPesa starts from 79 ZAR ($5) on the Executive Account, while the Premiere Account has a minimum deposit of 1,590 or an equivalent to 100 USD.
How can I withdraw funds from FXPesa?
You can log into your client portal, select the option to withdraw, and open the withdrawal options. From here, you can complete the relevant fields and submit your withdrawal request for consideration.
Addendum/Disclosure
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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