Yes, IFC Markets does offer a swap-free, Islamic account. You can request an Islamic account after you have opened an account. The Islamic forex trading environment is ideal for traders following strict Sharia law with a fixed fee instead of a swap.
★
★
★
★
★
Min Deposit: $1
Leverage: Up to 1:400
Regulators: BVI FSC, LFSA, FSCA
IFC Markets Islamic Account – key points, quick overview:
- ☑️Overview
- ☑️What exactly is an Islamic Account?
- ☑️Which financial activities are restricted and prohibited by Sharia law?
- ☑️How to open an IFC Markets Islamic Account step by step?
- ☑️What are IFC Markets’ spread costs on an Islamic Account?
- ☑️What other features does IFC Markets’ Islamic Account have?
- ☑️IFC Markets at a Glance
- ☑️IFC Markets Customer Reviews
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
🏆10 Best Forex Brokers in South Africa
| Rank | Broker | Broker Review | Regulators | Minimum Deposit | Visit Broker |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | $100 | 
|
| 🥈 |  | Read Review | FSCA, FCA, DFSA, FSA, CMA | $0 |
|
| 🥉 |  | Read Review | CySEC, MWALI, FSCA | $25 |
|
| 4 |  | Read Review | ASIC, CySEC, FSA, SCB | $200 |
|
| 5 |  | Read Review | FSA, FSCA | $250 |
|
| 6 |  | Read Review | FSA, FSC, FSCA, ASIC, CMA | $20 |
|
| 7 |  | Read Review | FSC, FSCA | $50 |
|
| 8 |  | Read Review | ASIC, CySEC, FSCA, FSA, FSC, CMA | $100 |
|
| 9 |  | Read Review | ASIC, CySEC, IFSC, DFSA, FCA | $5 |
|
| 10 |  | Read Review | FSA, CySEC, FSCA, FSC | $10 |
|
Overview
- The company was founded in 2006, and since then, IFC Markets has expanded the range of services provided and has been focused on the development and implementation of innovative approaches to trading.
- IFC Markets operates under the IFCM Group, which has been in operation for 14 years.
- The IFCM Group consists of IFCM Cyprus Limited, IFC Markets, and NetTradeX Limited.
- The company’s business model is based on transparent and trustworthy relations with the client.
- The company receives quotations from leading banks and liquidity providers in the ECN marketplaces and forms streaming quotations for clients at the best prices.
- In the trading terminal, the client sees and trades with the best bid and ask prices on each financial instrument.
- As a result, clients' orders are performed at the price of the liquidity provider that currently offers the best Buy or Sell prices.
- The company’s Prime Broker performs clearing functions (settlement of mutual liabilities) between the Company and Banks or its liquidity providers.
- IFC Markets provides its trading to over 120,000 clients through unlimited trading instruments and numerous opportunities.
- Added to this, the IFCM group of companies is involved in the development of projects in the field of financial technologies, with the requirements set by international legislation to provide financial services.
What exactly is an Islamic Account?
- All platforms, including NetTradeX, MT4, and MT5, offer the Islamic Account to serve Muslim traders who follow Sharia law and require interest-free trading methods.
- The account comes with three variants named Standard, Beginner, and Micro, which prevent overnight position SWAP fees.
- Clients on NetTradeX and the other platforms can select between USD, EUR, JPY, and uBTC as base currency options.
- The minimum deposit requirement for Beginner/Micro is $1, while Standard requires a minimum of $1,000.
- The Islamic status from Xcritical applies to every client account and cannot be turned off, while leverage, spreads, and instrument access depend on the client's selected account type.
- The account functions to maintain religious compliance standards, yet delivers entire trading freedom to users.
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 is greatly affected:
- 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- are prohibited by Sharia law.
- Margin deposits and interest involve the accrual of interest on funds that are deposited into the trading account, which is prohibited.
- 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.
- 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, and which is prohibited by the Sharia law.
- Short sales – which affect mostly shares and involve borrowing and subsequent sale of an asset, which is prohibited.
- Forward sales – which affects forward contracts as well as the trading of futures contracts, which 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.
How to open an IFC Markets Islamic Account step by step?
Step 1 - Go to the IFC Markets website
- Locate and go to the official IFC Markets website. Once on the website, locate the "Start Trading" tab at the top right of the menu bar
Step 2 - Fill in the Form
- After you click on Start Trading, fill in all your details and click on Register.
Step 3 - Confirm the email
- Open the confirmation email sent by IFC Markets and click on the "Confirm Email" tab.
Step 4: Request an Islamic Account
- Upon Registration of an IFC Account, log in to the dashboard and request an Islamic Account.
★
★
★
★
★
Min Deposit: $1
Leverage: Up to 1:400
Regulators: BVI FSC, LFSA, FSCA
What are IFC Markets’ spread costs on an Islamic Account?
- This will depend on the type of account that traders choose to convert.
- Depending on the account type, traders can expect floating spreads from 0.4 pips and/or fixed spreads from 1.8 pips.
What other features does IFC Markets’ Islamic Account have?
- The IFC Markets Islamic Account does not have additional charges, and the features that traders can expect will depend on the type of account that they convert to the Islamic Option.
- In addition, before converting the account, Muslim traders must note the following:
- Islamic status is assigned to all accounts that the trader has, existing and additional accounts that are opened.
- If the trader changes their trading account type to an Islamic Account, they will not be able to retrieve their non-Islamic account.
- IFC Markets reserves the right to credit and/or debit SWAP to the accounts of the client prior to conversion to an Islamic Account.
- If traders misuse or abuse their Islamic Account, IFC Markets has the right to cancel the Islamic status, along with crediting/debiting SWAPs for the corresponding period.
★
★
★
★
★
Min Deposit: $1
Leverage: Up to 1:400
Regulators: BVI FSC, LFSA, FSCA
IFC Markets at a Glance
| Broker's Name |  |
| 🏛️Headquarters | Republic of South Africa, with FSP No. 51818 |
| 🏠Registered Address | IFC Markets SA (Pty) Ltd Norwich Place West 2nd floor, CNR 5th and Norwich, Sandown Sandton, Gauteng, 2031, Republic of South Africa. |
| ⚖️Regulated by | BVI FSC, LFSA FSCA |
| 💻Website | www.ifcmarkets.com |
| 📅Founded in | 2006 |
| 🧑🤝🧑Clients | 395K |
| 📒Demo Account | Yes |
| ➕Deposit Options | Bank Transfer, Perfect Money, Visa/MasterCard, Pasargad Novin, TCPay, Bitwallet, WebMoney, Bitcoin, Unistream and others |
| ➖Withdrawal Options | Bank Transfer, Perfect Money, Visa/MasterCard, CashU, TCPay, Bitwallet, WebMoney, Bitcoin, Unistream and others |
| 💰Minimum Deposit | 1USD / 1 EUR / 100 JPY |
| 💱Account Currencies | USD, EUR, JPY, uBTC |
| 🔢Number of Pairs | >50 |
| 🟠Synthetic Pairs | Create as much as you like |
| ⬆️Maximum Leverage | 1:400 |
| ⬇️Minimum floating spread | 0.4 |
| 🟢Minimum fixed spread | 1.8 |
| 🗺️Countries not provided for | United States, Japan, Russia |
| 📈Trading instruments (600+) | Forex, Precious Metals, Stock CFDs, Continuous CFDs on Commodities, CFDs on Commodity Futures, Gold Instruments, CFDs on ETFs, CFDs on Crypto Futures, Continuous Index CFDs |
| 📊Trading platforms | MetaTrader4, Metatrader5, NetTradeX |
| 📒Trading Account Types | Micro (MetaTrader 4), Standard (MetaTrader 4), Micro (MetaTrader 5), Standard (MetaTrader 5), Beginner (NetTradeX), Standard (NetTradeX) |
| 📊MetaTrader4 | Fixed spread |
| 📊MetaTrader5 | Floating spread |
| 📊NetTradeX | Fixed and Floating spread |
| *Trading platforms can be downloaded free of charge * | #colspan# |
| Account types | |
| ✳️VIP Accounts | |
| 💲VIP Account Requirements | $50,000 Minimum Deposit |
| ☪️Islamic Account | Yes |
| ✋Islamic Account Restrictions | Muslim faith only (plus document) |
| ✨Standard Account | Yes |
| ❓Scalping | Allowed |
| ✋Scalping Restrictions | No |
| 💬Website languages (19) | Arabic, Chinese (Traditional), Chinese (Simplified), Czech, English, French, German, Hindi, Indonesian, Italian, Japanese, Malay, Persian, Portuguese, Russian, Spanish, Turkish, Vietnamese, Korean |
| 💬Online support languages (12): | English, Russian, Spanish, Vietnamese, Farsi, Arabic, French, Hindi, Turkish, Chinese (Traditional), Chinese (Simplified), Japanese, Portuguese |
| 👨💼Support methods | Callback, Email, Forum, Live chat, Phone, Skype, Web form, Messenger, Telegram, WhatsApp, Instagram, Viber, QQ, WeChat, Signal, Discord |
| 🔯IFC Markets’ own product | GeWorko (Portfolio Quoting Method) was granted a US patent |
| 🏆International awards | “Most International Broker 2026” by AtoZ Market Magazine “Best Broker Southeast Asia 2026” by International Business Magazine “Most Customer Centric Forex Broker – Indonesia 2026” by The Global Economics “Best International Forex Broker Vietnam 2026” by International Business Magazine “Best International Forex Broker South Korea 2026” by International Business Magazine, “Best CFD Trading Conditions, Southeast Asia 2026” by the World Economic Magazine “Most Reliable Forex Broker SEA 2026” “Most Sustainable Multi-Asset CFD Broker SEA 2026” by World Business Outlook |
| 📰Education and Analytics (free) | Blog, News and analytics, videos, trading ideas, tutorials, trader’s glossary |
| 📱Mobile Trading App | Yes |
| 🌐Web Based trading | MT4/5 Webterminal |
| 📈Trading instruments | Currency Pairs, Precious Metals, Continuous Index CFDs, Stock CFDs, Continuous CFDs on Commodities, CFDs on Commodity Futures, Gold Instruments, CFDs on ETF, NEW CFDs on Crypto Futures, Synthetic Instruments Library |
| ⏰Platform timezone | CET |
| Deposit Methods | |
| International Bank Transfer | #colspan# |
| ⏳Processing time | Normally takes from 2 to 3 working days |
| 💰Deposit fee | Your bank’s fee, normally around $30 / €30 / ¥3000 per transfer |
| 💲Minimum deposit | $100 / €100 / ¥10.000 |
| 🏦Available withdrawal method | International Bank Transfer |
| 👌Perfect Money | |
| ⌛Processing time | Instantly |
| 💰Commission | 0.5 – 1.99 % |
| 💶Minimum deposit amount | 1$ / 1€ |
| 💶Maximum Deposit amount | 5000$ / 5000€ |
| 🟣Available withdrawal method | Perfect Money |
| Bank cards | |
| ⏲️Processing time | Instantly |
| 💰Deposit fee | None |
| 💴Minimum deposit | $100 / €100 / ¥10 000 |
| 💲Maximum deposit | $5000 / €5000 / ¥500 000 |
| 💳Available withdrawal method | Wire Transfer or banking card used for depositing |
| Pasargad Novin | |
| ⏲️Processing time | Within 1 business hour |
| 💵Minimum deposit | $10 |
| 🟪Appropriate withdrawal method | Pasargad Novin |
| TopChange | |
| ⏲️Processing time | Within 1 business day |
| 🔸Deposit fee | 0.5% (maximum $50) |
| 💲Minimum deposit | $1 |
| ❓Appropriate withdrawal method | TopChange |
| Bitwallet | |
| ⏱️Processing time | Instantly |
| ⭕Deposit fee | None |
| 💸Minimum deposit | 10$ / 10€ / 1000¥ |
| ❌Maximum deposit | None |
| 👛Available withdrawal method | Bitwallet payment system |
| WebMoney | |
| 🕰️Processing time | Instantly |
| 💰Deposit fee | 0.8% (maximum $50) |
| 💲Minimum deposit | $1 |
| 🔲Available withdrawal method | WebMoney Payment system |
| Bitcoin | |
| 6️⃣Processing time | 6 Confirmations of blockchain network |
| 🔗Deposit fee | Blockchain commission only |
| ₿Minimum deposit | 1000 uBTC (0.001 BTC) |
| 🟪Available withdrawal method | Bitcoin |
| * uBTC and Bitcoin accounts recharge is used as collateral for USD, EUR, JPY accounts* | #colspan# |
| Unistream | |
| 🕓Processing time | May take 1 working day |
| 💵Deposit fee | Commission of payment system + commission of Exchanger (0-$1000 -commission 2%, $1001-$5000 -commission 1%) |
| ☑️Appropriate withdrawal method | Unistream |
| Withdrawal Methods | |
| Wire transfer | |
| 📅Processing time | Normally takes from 2 to 3 working days |
| 💰Commission | Bank commission from $25 / €25 / ¥2500 |
| Perfect Money | |
| ⏳Processing time | From a few minutes |
| 👍Commission | 0.5 % |
| 💶Minimum withdrawal amount | 1$ / 1€ |
| 💲Maximum withdrawal amount | 5000$ / 5000€ |
| Transfer to Banking Card | #colspan# |
| 📅Processing time | Normally takes 1-5 business days |
| 💰Commission | 2% + $7,5 / 2% + €6 / ¥1500 |
| ⬇️Minimum withdrawal | $10 / €10 / ¥5000 |
| ⬆️Maximum withdrawal | $1000 / €1000 / ¥100000 per day |
| WebMoney Vietnam (WMV) payment system | #colspan# |
| ⏱️Processing time | May take 1 working day |
| ✅Commission | 0.8% (min. 500 VND, max. 1 000 000 VND) |
| TopChange | |
| ⏳Processing time | From several minutes |
| 0️⃣Commission | None |
| Transfer to Bitwallet account | #colspan# |
| 🕰️Processing time | From several minutes |
| ❓Commission | ¥100 per transaction and ¥824 for withdrawal to local bank account |
| 💴Minimum withdrawal | 10$ / 10€ / 1000¥ |
| WebMoney Payment system | #colspan# |
| 🕓Processing time | From several minutes |
| 👍Commission | 0.8% (maximum $50) |
| 💲Minimum withdrawal | $1 |
| Bitcoin | |
| 3️⃣Processing time | 3 Confirmations of blockchain network |
| ₿Commission | 500 uBTC (0.0005 BTC) |
| ₿Minimum withdrawal | 1000 uBTC (0.001 BTC) |
| *Withdrawal of funds for uBTC accounts, and withdrawal from Bitcoin collateral funds for USD, EUR, JPY accounts* | #colspan# |
| Transfers between own trading accounts | #colspan# |
| ⏳Processing time | From several minutes |
| 💰Commission | None |
| 💲The minimum amount of transfer | $1 |
| CashU | |
| 🕰️Processing time | Up to 24 hours |
| ❓Commission | None |
| 💲Minimum withdrawal | $10 |
| 📝Note | Total withdrawal amount by CashU cannot exceed total deposited amount by CashU. To withdraw the exceeding amount please contact support@ifcmarkets.com |
| 🔥Promotions, Competitions, Sign-up Bonus, other Bonuses & Programs | On time to time basis |
| 📝Sign up | 👉 Open Account |
IFC Markets Customer Reviews
- IFC Markets is rated positively by its clients, offering very reliable trading platforms, impressive spreads, and great customer support.
- Indeed, traders find the trading platform user-friendly, with prompt execution of orders there is also a possibility to trade various instruments.
- The educational resources and market analysis are well appreciated by novice and professional traders alike, which makes the broker trustworthy in trading around the world.
| ⭐ Aspect | 💬 Customer Feedback |
| 🚀 Platform Reliability | Users praise the platform's stability and fast trade execution. |
| 💸 Competitive Spreads | Customers highlight the affordability and low-cost trading conditions. |
| 🎛️ User-Friendly Interface | Traders appreciate the intuitive design and easy-to-navigate tools. |
| 📊 Diverse Instruments | Positive reviews focus on the wide range of assets available for trading. |
★
★
★
★
★
Min Deposit: $1
Leverage: Up to 1:400
Regulators: BVI FSC, LFSA, FSCA
Customers Ratings
| 🌐 Platform | 📝 Feedback Summary | ⭐ Rating |
 | Users commend IFC Markets for its competitive spreads and efficient customer service. However, some traders have reported issues with account verification delays and withdrawal processes. | ⭐⭐⭐☆ 3.5/5 |
 | Positive feedback highlights IFC Markets' attractive spreads and rapid execution speeds. Conversely, there are concerns about the platform's reliability, with reports of account access issues and delayed responses from account managers. | ⭐⭐⭐⭐ 4.5/5 |
 | TrustPilot features a limited number of reviews, resulting in a low TrustScore of 2.77 out of 5. | ⭐⭐☆☆ 2.77/5 |
Pros and Cons
| ✅Pros | ❌ Cons |
| Advanced proprietary trading platform supported | International operations regulation |
| Education center provided | Spreads are not the tightest |
| IFC Markets has strict regulation | There is no social trading network |
| Portfolio quoting methods offered | US clients not accepted |
Conclusion
Yes, IFC Markets does offer a swap-free, Islamic account. You can request an Islamic account after you have opened an account. The Islamic forex trading environment is ideal for traders following strict Sharia law with a fixed fee instead of a swap.
You might also like:
IFC Markets ReviewIFC Markets Account TypesIFC Markets Demo Account – Step by StepIFC Markets Fees and SpreadsIFC Markets Sign up Bonus
Frequently Asked Questions
How many instruments can I trade with IFC Markets?
You can trade more than 600 instruments spread across these asset classes:
- Forex
- Precious Metals CFDs
- Indices CFDs
- Commodity CFDs
- Commodity Futures CFDs
- Gold
- ETF CFDs
- Cryptocurrency CFDs
- Synthetic instruments
Which platforms are supported by IFC Markets?
- MetaTrader 4
- MetaTrader 5
- NetTradeX
Are there additional charges on the Islamic account?
No, there are no additional charges when Muslim traders convert their trading account to an Islamic Account.
Is IFC Markets regulated?
Yes, IFC Markets is regulated by CySEC and the BVI FSC.
Is IFC Markets a recommended forex trading broker for experts and beginners?
Yes, IFC Markets is ideal for both beginner and expert traders.
Does IFC Markets offer the option of an Islamic Account?
Yes, IFC Markets offers the option of an Islamic Account.
Are there any spread costs on an Islamic Account with IFC Markets?
It depends on the type of account that you choose to convert. Depending on the account type, you can expect floating spreads from 0.4 pips and/or fixed spreads from 1.8 pips.
Does IFC Markets charge withdrawal fees?
Yes, IFC Markets charges the following withdrawal fees:
- Bank Wire Transfer – 25 USD, 25 EUR, 2,500 JPY, or 342 ZAR.
- Perfect Money – 0.5%
- Credit/Debit Card – 2% as well as 7.5 USD, 6 EUR, 1,500 JPY, or 103 ZAR.
- BitWallet – 100 JPY per transaction and 824 JPY for withdrawal to a local bank account.
- WebMoney – 0.8% with a maximum of 50 USD (684 ZAR).
- WebMoney Vietnam – 0.8% with a minimum of 500 VND and a maximum of 1,000,000 VND.
- Bitcoin – 500 uBTC or 0.0005 BTC.
How long does it take to make a withdrawal?
This will depend on the payment method, as some reflect instantly while others may take a few business days.
Recommended brokers
