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.
Min Deposit USD 1 Regulators CySEC, FSC Trading Platform MT4, MT5 Crypto Yes Total Pairs 107+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Choose your quick section of our InstaForex Islamic account below.
InstaForex Islamic Account – 11 key points quick overview:
InstaForex At a Glance
| 🔎 Broker Name | 🥇 InstaForex |
| 📅 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 | support@mail.instaforex.com |
| 📞 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 |
| 🚀Open an Account | 👉 Open Account |
Overview
InstaForex is a well-regulated and popular Market Maker broker that is based in the British Virgin Islands, Saint Vincent and the Grenadines, and Cyprus. InstaForex offers traders from around the world the trade in more than 300 financial instruments which are spread across:
| ➡️️ Currencies |
| ➡️️ Stocks |
| ➡️️ Indices |
| ➡️️ Metals |
| ➡️️ Oil and Gas |
| ➡️️ Commodity Futures |
| ➡️️ Cryptocurrencies |
| ➡️️ InstaFutures |
Since its inception in 2007, InstaForex has worked with the purpose of offering traders from around the world some of the best trading conditions and solutions. With more than 7 million registered traders, InstaForex is one of the largest brokers in the industry.
InstaForex is regulated and authorized by CySEC, BVI, and SVGFSA in facilitating the trades of millions of traders from around the world. Traders can expect competitive trading conditions, fast trade execution speeds, tight spreads, low commissions, and transparent fee schedules.
What exactly is an Islamic Account?
An Islamic, or swap-free, trading account is one that 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 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 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 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. |
How to Open an InstaForex Islamic Account
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 e-mail, 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.
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.
Min Deposit USD 1 Regulators CySEC, FSC Trading Platform MT4, MT5 Crypto Yes Total Pairs 107+ Islamic Account Yes Trading Fees Low Account Activation 24 Hours
Customer Reviews
🥇 Excellent Support.
I am thoroughly impressed with InstaForex, particularly when it comes to their customer support. The level of service provided is nothing short of excellent – James
🥈 Runs like Clockwork.
I have been with InstaForex for 5 years and all the main services are like clockwork. InstaForex ensures that traders have various options to reach their support team. The live chat feature is particularly efficient, offering instant responses to queries. – Susan
🥉 Proudly South African!
As a South African trader, I appreciate that InstaForex offers localized support that understands the specific needs and challenges of the local market. The support team is well-versed in the unique regulatory environment and market conditions, which makes their assistance even more relevant and valuable. – Stefan
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 |
| Demo Account offered | |
| Islamic account option offered | |
| MetaTrader 4 and 5 offered | |
| Strictly regulated | |
| Variety of accounts offered | |
| Variety of financial instruments offered |
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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Frequently Asked Questions
How many instruments can I trade with InstaForex?
You can trade the following instruments:
- Currencies
- Stocks
- Indices
- Metals
- Oil and Gas
- Commodity Futures
- Cryptocurrencies
- InstaFutures
Which platforms are supported by InstaForex?
- MetaTrader 4
- MetaTrader 5
- Multiterminal
- InstaForex WebTrader
- InstaTick Trader
Does InstaForex offer leverage?
Yes. InstaForex offers leverage between 1:1 up to 1:1000.
What spreads can I expect with InstaForex?
Spreads from as little as 0.0 pips.
Does InstaForex charge commission?
Yes. Commissions of between 0.03% and 0.07% are charged on the Insta. Eurica and Cent. Eurica accounts.
Are there additional charges on the Islamic account?
No. There are no additional charges, once the Islamic Account option is applied, the trading conditions will not change.
Is InstaForex regulated?
Yes. InstaForex is regulated by CySEC, BVI, and SVGFSA.
Is InstaForex a recommended forex trading broker for experts and beginners?
Yes. InstaForex caters to both beginners and experts.
What is the difference between a demo and a live trading account?
A Demo Account is a risk-free account that is funded by virtual money and allows traders to either practice trading, explore the broker’s offering, or test trading strategies in a mimicked live trading environment.
For how long is the demo account valid?
30-days.
What is an Islamic account?
Accounts that are based on Islamic principles. Interest does not apply to positions held open for longer than a trading day after the trading day has concluded.
Do all brokers offer Islamic accounts?
No, only brokers who serve Middle Eastern clients & clients from other jurisdictions who trade by Sharia law offer Islamic accounts.
Does InstaForex offer the option of an Islamic Account?
Yes. InstaForex offers Muslim traders the option of an Islamic Account on all their live trading accounts.
What are the two key elements of Islamic law that relate to trading accounts?
Riba & Gharar.
What is Riba in Islamic law?
In short, Riba prohibits traders from generating money from money and refers to interest. Interest is not allowed according to Sharia law.
What are the available deposit currencies for a live trading account?
- EUR
- USD
- RUB
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