An InstaForex Islamic account is offered for Muslim faith traders. The Islamic forex trading environment is ideal for traders following strict Sharia law with a fixed fee instead of a swap.
InstaForex Islamic Account – key points, quick overview:
Overview
- Since 2007, InstaForex has offered financial instruments related to forex and CFDs such as currency pairs, commodities, indices, shares, and cryptocurrencies.
- Broker is recognized for its large selection of trading tools, offers bonuses, and is associated with both sports brands and celebrities.
- Members can use well-known platforms MetaTrader 4 and MetaTrader 5, plus account types such as cent accounts and swap-free (Islamic) choices on InstaForex.
- Even though the FSC (BVI) oversees the broker, its primary clients live beyond the reach of strict regulations.
What exactly is an Islamic Account?
- The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law.
- The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitative.
- Overnight fees are charged should traders hold positions open for longer after the trading day has concluded, and this type of account allows exemption from such fees or interest should they hold positions open for longer.
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 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. |
| ➡️️ Margin deposits and interest | which involves 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 affects mostly shares and involves 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 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. |
What are InstaForex’s spread costs on an Islamic Account?
- The spreads that traders can expect will depend on the account type they choose to convert. Spreads on the Insta.Standard and the Cent. Standard Accounts vary between 3 to 7 pips as these accounts have zero-commission trading.
- The spread on the Insta.Eurica and Cent. Eurica accounts, however, start from 0.0 pips as these accounts have commissions of between 0.03% and 0.07% applied.
What other features does InstaForex’s Islamic Account have?
Even though the trading conditions will differ between account types, some general account features that Muslim traders can expect, despite the trading account they choose, include:
| 💲 Currencies | EUR and USD |
| 💰 Minimum deposit | $1/R16 ZAR |
| ✔️ Microlot trading | Yes |
| 📈 Maximum trade volume | 10,000 lots |
| 👨💼 Leverage | 1:1000 |
| 🕒 Margin | call of 30% and stop-out level of 10% |
| 💵 Interest rate | 5% |
There are no additional charges indicated on the Islamic Account, and thus, traders will only be subjected to the stated fees and charges.
How to Open an InstaForex Islamic Account
To open an InstaForex Account, Traders can follow the following steps:
Step 1: Click on the Open Trading Account
- The brokers’ webpage has a green “Open Trading Account” button. Click on the button to start the Registration Process.
Step 2: Complete Fields
- Traders must complete an Online registration form with an active email, personal data, and account type selection.
Step 3: Complete the Registration Process
- To complete the Registration process, you must complete the following fields: Password, Security Code, Account Type Selection, Server Selection, Leverage, and Account Currency.
Step 4: Choose your Account Type
- After Proceeding, choose your preferred Account Type and start trading.
- Once the live trading account is approved, traders can select the option for an Islamic Account from the client portal, which will then convert the trading account into that of an Islamic Account.
- Once this is done, traders need not worry about their trading conditions changing or extra costs being charged.
- Once the account is converted, the standard account-specific trading conditions will apply, with the benefit that the trading account is now Sharia-compliant, allowing Muslim traders to trade a variety of markets without jeopardizing their faith.
InstaForex at a Glance
| 🔎 Broker Name |  |
| 📅 Year Founded | 2007 |
| 👨💼 Current CEO | Ildar Sharipov |
| 👥 Founder/s | Ildar Sharipov |
| 👩💼 Amount of staff | 1,000+ |
| 👨💻 Amount of active traders | Over 7 million |
| 🏛️ Publicly Traded (Listed Company) | No |
| 🛡️ Regulation and Security | |
| 📜 Regulation | CySEC, BVI, FSC |
| 🌍 Country of regulation | Cyprus, British Virgin Islands, Russia |
| 💼 Account Segregation | Yes |
| 🚫 Negative balance protection | Yes |
| 🔐 Two-step Authentication | Yes |
| 🛡️ Investor Protection Schemes | Yes, under CySEC regulation |
| 💼 Account Types and Features | |
| 🏢 Institutional Accounts | No |
| 👨🔧 Managed Accounts | Yes (PAMM & ForexCopy) |
| 💱 Minor account currencies | Yes (including ZAR) |
| 💵 Minimum Deposit | $1 / 18 ZAR |
| 📊 Trading Conditions | |
| ⌛ Average deposit/withdrawal processing time | 1-3 business days |
| 💸 Fund Withdrawal Fee | Varies (depends on the method) |
| 📉 Spreads from | 0.0 pips (on ECN accounts) |
| 💰 Commissions | $3 per lot (on ECN accounts) |
| 💱 Number of base currencies supported | 6 (including USD, EUR, ZAR) |
| 📈 Swap Fees | Yes (except on Islamic accounts) |
| 📊 Leverage | Up to 1:1000 |
| 📉 Margin requirements | Yes (depending on leverage) |
| ☪️ Islamic account (swap-free) | Yes |
| 🆓 Demo Account | Yes |
| ⚡ Order Execution Time | Less than 1 second |
| 🖥️ VPS Hosting | Yes (for high-volume traders) |
| 📈 Trading Instruments | |
| 💼 CFDs - Total Offered | 100+ |
| 📉 CFD Stock Indices | Yes |
| 📊 CFD Commodities | Yes |
| 📈 CFD Shares | Yes |
| 📑 Watch list | Yes |
| 📊 Trade Alerts | Yes (via InstaForex tools) |
| 📉 Trading Stocks with GP | Yes |
| 📈 Trading Indices with GP | Yes |
| 💸 Swap on the trading board | Yes |
| 💳 Deposits and Withdrawals | |
| 💰 Deposit Options | Bank transfers, credit cards, e-wallets |
| 💸 Withdrawal Options | Bank transfers, credit cards, e-wallets |
| 🎁 Welcome Bonus | Yes, up to 100% deposit bonus |
| 💻 Trading Platforms and Tools | |
| 🖥️ Trading Platforms | MetaTrader 4, MetaTrader 5, InstaTick Trader |
| ⛔ Stop-loss Instrument | Yes |
| 🛡️ Investor Protection Schemes | Yes, under CySEC |
| 💻 OS Compatibility | Windows, Mac, i OS, Android |
| 📊 Forex trading tools | Yes (economic calendar, charts, analysis) |
| 🗄️ Rebate program | Available |
| 📞 Customer Support | |
| 💬 Live chat availability | Yes, 24/7 |
| 📧 Customer Support Email address | [email protected] |
| 📞 Customer Support Contact Number | +44 800 011 9695 |
| 🗣️ Languages supported on InstaForex Website | Multiple languages (including English, Russian, Arabic) |
| 📚 Educational Resources and Support | |
| 👶 Beginners Trader friendly UX | Yes |
| 📘 Forex course | Yes |
| 🎓 Webinars | Yes |
| 📚 Educational Resources | Articles, videos, courses |
| 💼 Partnerships and Programs | |
| 🤝 Affiliate program? | Yes |
| 🤝 Amount of partners | 100,000+ |
| 🏦 IB Program | Yes |
| 🎯 Do they sponsor any notable events/teams? | Yes (Dragon Racing Formula E, Borussia Dortmund) |
| 💵 Rebate program | Yes |
| 👥 Community Forum | Yes |
| 💻 Social media Platforms | |
| 🌐 Official Website address | www.instaforex.com |
| 📘 Official Facebook Page | facebook.com/instaforex |
| 🐦 Official Twitter Page | twitter.com/instaforex |
| 📺 Official Youtube Channel | youtube.com/instaforex |
| 🔗 Official Linkedin Page | linkedin.com/company/instaforex |
| 📷 Official Instagram Page | instagram.com/instaforex |
| 🇿🇦 Accept South African traders? | Yes |
| 🏛️ Is InstaForex regulated by FSCA? | No |
| 🤝 Does InstaForex offer an Affiliate Program for South African Traders? | Yes |
| 💱 Does InstaForex allow accounts to be opened in ZAR? | Yes |
| 📝Sign up | 👉 Open Account |
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InstaForex Customer Reviews
- InstaForex has been having mixed customer reviews as well as ratings showing both strong features, along with areas where it can improve.
- They actually praise its different account types, nice bonuses on offer, and vast products for trade, which include Forex, commodities, and cryptocurrencies.
- Moreover, beginners can also see it as quite friendly and comes with educational materials that they might use for their beginning stages.
- But there are those clients who say there’s a slow rate of withdrawal processing and that perhaps certain fees are not transparent.
| 🔍Aspect | 🔖Details |
| 🌟Overall Rating | 4.2/5 – Rated well for its variety of account options and bonus programs but with room for improvement in withdrawals. |
| 👏Customer Satisfaction | Moderate – Clients appreciate the wide range of trading instruments but highlight concerns about fee transparency. |
| 📞Customer Service | Responsive but inconsistent – Available via live chat, email, and phone, with occasional delays in response times. |
Customers Ratings
| 🌐 Platform | 📝 Feedback Summary | ⭐ Rating |
 | Some users report positive experiences with their trading conditions, customer support, and profitability. However, others have complained about issues with withdrawals, poor trading execution, and difficulties with account verification | ⭐⭐⭐⭐☆ |
 | Users praise InstaForex for its user-friendly platform, competitive spreads, and reliable customer support. However, some users have raised concerns about the broker's liquidity and leverage limitations. | ⭐⭐⭐☆☆ |
 | Some users praise the company's fast withdrawals, variety of trading instruments, and 24/7 customer support. However, others complain about difficulties in withdrawing funds, high spreads, and unresponsive customer service. | ⭐⭐⭐⭐☆ |
 | Mixed reviews some users appreciate the low minimum deposit and variety of trading instruments, while others highlight issues with high spreads and slow withdrawals. | ⭐⭐⭐⭐☆ |
 | Some users have reported difficulties with withdrawal and issues with customer support, while others have praised the company's competitive spreads and trading platform. | ⭐⭐⭐☆☆ |
 | Mixed feedback some users report positive experiences, while others cite problems with account verification and fund withdrawals. | ⭐⭐☆☆☆ |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Access to free VPS | No US Clients |
| Commission-free accounts offered | Spreads on the standard account are not the tightest |
Conclusion
InstaForex offers an Islamic account for Muslim faith traders, including a swap-free account. The Islamic forex trading environment is ideal for traders following strict Sharia law with a fixed fee instead of a swap.
The fee is not an interest and depends on the direction of the order. InstaForex has a 10k lot, which allows you to trade less than with a standard 100k lot.
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InstaForex Demo Account – Step-by-Step
Frequently Asked Questions
Does InstaForex offer an Islamic account?
Yes. InstaForex provides an Islamic (swap-free) account option designed for traders following Sharia law, replacing overnight interest with a fixed commission, ensuring compliance with Islamic finance principles while offering full access to the broker’s trading instruments and features.
How can I open an InstaForex Islamic account?
To open an Islamic account, register a standard InstaForex account, then request a swap-free option through the client cabinet or customer support. Approval ensures interest-free trading while retaining all platform functionalities and market access.
Who can apply for an InstaForex Islamic account?
The Islamic account is primarily intended for Muslim traders adhering to Sharia law. However, non-Muslim traders may also apply, subject to approval by InstaForex, to benefit from swap-free trading conditions.
What trading instruments are available on the Islamic account?
Islamic account holders can trade all InstaForex instruments, including Forex pairs, metals, indices, cryptocurrencies, commodities, and InstaFutures, ensuring diverse market opportunities without interest-based overnight swaps, in line with Sharia-compliant trading rules.
Does the Islamic account have higher spreads?
InstaForex Islamic accounts generally offer the same spreads as standard accounts. Instead of swaps, a fixed commission per trade may apply, varying by instrument, ensuring fairness while maintaining competitive trading costs.
Can I convert an existing account to Islamic?
Yes. Traders with active InstaForex accounts can request conversion to an Islamic account via the client cabinet or support team. Once approved, the account becomes swap-free without affecting other settings or trading history.
Are there additional fees on the Islamic account?
While overnight swaps are removed, InstaForex may charge a fixed commission per position held overnight. The amount depends on the trading instrument and is disclosed transparently to ensure full cost clarity for Islamic account users.
Which platforms support InstaForex Islamic accounts?
Islamic accounts can be accessed through MetaTrader 4, MetaTrader 5, WebTrader, Multiterminal, and InstaTick Trader, allowing full trading functionality, advanced tools, and mobile compatibility while adhering to Sharia-compliant conditions.
Does the InstaForex Islamic account expire?
No. Once approved, an InstaForex Islamic account remains swap-free indefinitely unless the trader requests a change or violates the terms. This allows long-term, Sharia-compliant trading without the need for periodic renewals.
Is the InstaForex Islamic account regulated?
Yes. Islamic accounts fall under the same regulatory oversight as other InstaForex accounts, being monitored by CySEC, BVI FSC, and SVGFSA, ensuring secure, transparent, and fair trading conditions for all swap-free account holders.
