The 10 Best Forex Brokers with Islamic, Swap-Free Accounts revealed.
We have listed, rated, and reviewed the Best Forex Brokers with Islamic, Swap-Free Accounts. We showcase which notable Brokers offer their services to Muslim Investors.
This is a complete listing of The 10 Best Forex Brokers with Islamic, Swap-Free Accounts.
In this in-depth write-up you will learn:
- The Top 10 Islamic Forex Brokers
- Islamic Forex Account – Explained
- Is a Forex Islamic Account Halal?
- Best Islamic Brokers for Beginners
- What is an Islamic Account – Revealed.
- Islamic Trading Apps on offer
and much, much more!
10 Best Forex Brokers with Islamic, Swap-Free Accounts in 2025 – A Comparison
🔎 Broker | ☪️ Islamic Account | 📌 Account Types | 💰 Minimum Deposit | 🚀 Open an Account |
🥇 Octa | ✅ Yes | Swap-Free | $25 USD | 👉 Click Here |
🥈 IC Markets | ☑️ Yes | Raw Spread Standard | $200 USD | 👉 Click Here |
🥉 AvaTrade | ✅ Yes | Swap-Free | $100 USD | 👉 Click Here |
🏅 HF Markets | ☑️ Yes | Micro Premium Zero Spread | $5 USD | 👉 Click Here |
📌 Admiral Markets | ✅ Yes | Trade.MT5 | $25 USD | 👉 Click Here |
📍 Pepperstone | ☑️ Yes | Standard | $200 USD | 👉 Click Here |
🏅 FP Markets | ✅ Yes | MetaTrader 4 MetaTrader 5 | $100 USD | 👉 Click Here |
📌 ThinkMarkets | ☑️ Yes | Swap-Free | $0 USD | 👉 Click Here |
📍 FXTM | ✅ Yes | Micro Advantage Advantage Plus | $10 USD | 👉 Click Here |
🏅 XTB | ☑️ Yes | Swap-Free | $0 USD | 👉 Click Here |
Islamic Account – A Definition
An Islamic, Swap-Free, or Sharia Compliant Forex Account is a halal trading account that is offered by selected brokers to its clients who respect the Quran and wish to invest or trade following the principles of Islamic finance.
10 Best Forex Brokers in South Africa for 2025
Rank
Broker
Review
Regulators
Min Deposit
Official Site
10 Best Forex Brokers with Islamic, Swap-Free Accounts (2025)
- ☑️ OctaFX – Overall, Best Islamic Broker in South Africa
- ☑️ IC Markets – Great Swap-Free Broker with Extensive Regulation
- ☑️ AvaTrade – Leading Forex Broker with MT4/MT5 Support
- ☑️ HFM – User-Friendly Islamic Forex Broker
- ☑️ Admiral Markets – High User Trust Score
- ☑️ Pepperstone – Best Online Trading Experience
- ☑️ FP Markets – Low Minimum Deposit Islamic Account
- ☑️ ThinkMarkets – Sharia-Compliant Islamic Account
- ☑️ FXTM – Multi-Platform Islamic Forex Broker
- ☑️ XTB – No Deposit Swap-Free Account
OctaFX
OctaFX is a Forex Broker that offers Forex ECN Trading, as well as CFD trading on Indices, Metals, and Cryptocurrencies across both the MT4 and MT5 trading platforms. Octa offers its services in over 150+ countries across the globe.
OctaFX Overview
🔎 Broker | 🥇 Octa |
📌 Regulation | SVGFSA |
☪️ Islamic account (swap-free) | ☑️ Yes |
👍 Demo Account | ☑️ Yes |
📊 Institutional Accounts | No |
📊 Managed Accounts | No |
📈 Maximum Leverage | 1:500 |
💰 Minimum Deposit | $5 / R 80 ZAR |
Open an Account | 👉 Click Here |
OctaFX Islamic Account
OctaFX makes one of the industry’s Best Islamic Accounts available. Users can make a choice of two platforms, MetaTrader 4 / MetaTrader 5, and two base currencies, USD / EUR. The OctaFX Islamic account comes standard with education in trading, No Swaps or other fees, and negative balance protection.
OctaFX Pros and Cons
✅ Pros | ❌ Cons |
Regulated by SVGFSA | Limited assets |
Unlimited demo account | Low Crypto coverage |
Advanced technology | No VPS |
Forex and CFDs offered | No education tools on Forex |
More than 80 pairs to trade | No clients from USA, Canada, Belgium, or others outside EU |
Min Deposit
USD 25
Regulators
CySEC, MISA, FSCA and FSC
Trading Platform
MT4, MT5, OctaTrader
Crypto
Yes
Total Pairs
52
Islamic Account
Yes
Trading Fees
No
Account Activation
24 Hours
IC Markets
IC Markets is a renowned Forex CFD provider that offers trading solutions for active day traders and scalpers. IC Markets is authorized and regulated by multiple Regulators across the globe, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
IC Markets Overview
🔎 Broker | 🥇 IC Markets |
💰 Min. Deposit | $200 USD |
🔁 Spreads from | 0.0 Pips |
💸 Commission | Selected Accounts |
📈 Leverage | 1:500 |
🆓 Demo Account | ✅ Yes |
☪️ Islamic Account | ✅ Yes |
🚀 Open an Account | 👉 Click Here |
IC Markets Islamic Account
IC Markets offers Islamic accounts on both our Raw Spread and Standard account types on the MT4, MT5, and cTrader platforms. The IC Markets Islamic Account offers the following features:
- Trade 90+ instruments
- 1:500 Leverage
- Spreads as low as 0.0 Pips
- No additional costs
- MetaTrader 4
- MetaTrader 5
IC Markets Pros and Cons
✅ Pros | ❌ Cons |
Low Forex Fees | Limited Product Selection |
Easy Account Opening | Slow Chat Response |
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
AvaTrade
AvaTrade offers access to a world-class trading experience in FX, Stocks, Commodities, Crypto, Indices, and Options. AvaTrade trading conditions include tight spreads, No Commission, up to 400:1 leverage, and instant execution.
AvaTrade Overview
🔎 Broker | 🥇 AvaTrade |
📜 Regulation | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA |
💳 Minimum deposit | $100 USD / R1816 ZAR |
🚀Bonus | ✅ Yes |
🔥Trust Score | 94% |
🔥Live support | 24/5 |
📱 MetaTrader 4 (MT4) | ✅ Yes |
📱 MetaTrader 5 (MT5) | ✅ Yes |
📊Trading Islamic Account | ✅ Yes |
📊CFDs - Total Offered | 1,200 CFDs |
💰 Spreads | 0,9 pips |
💰 Withdrawal fee amount | Zero |
💰 Trading fees class | Very Low |
✔️ Scalping Allowed | ✅ Yes |
📈Products Offered | Forex, Stocks (CFDs), Commodities (CFDs), Indices (CFDs), Cryptocurrencies (CFDs) |
👥Account Types | Various, including standard accounts, demo accounts, Islamic accounts, and professional accounts (depending on regulation) |
📚Educational Resources | Webinars, articles, tutorials |
📍 Focus | User-friendly platform for beginners and experienced traders |
☎️Customer Support | Multiple languages offered |
📌Important Note | AvaTrade does not offer direct trading on the Volatility 75 Index (VIX). |
🚀 Open a account | 👉 Click Here |
AvaTrade Islamic Account
AvaTrade makes an Islamic Account available with access to a variety of instruments – foreign exchange, commodities, shares, bonds, ETFs, currency options, and more.
AvaTrade Pros and Cons
✅ Pros | ❌ Cons |
Easy Account opening | Limited product portfolio |
No withdrawal fee | Administration fee |
Low trading fees | Inactivity fee |
Negative balance protection | Not listed on stock exchange |
HF Markets
HFM is an award-winning forex and commodities broker that is regulated by multiple leading entities including the Financial Sector Conduct Authority (FSCA).
HF Markets Overview
🔎 Broker | 🥇 HFM |
⚖️ Regulation | FSCA, CySEC, FCA, DFSA, CMA, FSA |
💳 Minimum deposit | $0 |
💰 Maximum Leverage | 1:2000 |
🔘 Asset Types | Forex, Indices, Metals, Energies, Shares, Commodities, Bonds, ETFs, DMA Stocks, and Cryptocurrencies |
📊 Trading platforms | MT4, MT5, HFM Trading App (Android & IOS) |
💳 Supported lot | 0.01 - 500 |
💳 Demo | ☑️ Yes |
📈Products Offered | Focus on Volatility 75 Index (VIX) CFD |
👥Account Types | Cent Account, Zero Account, Pro Plus Account, Pro Account, Premium Account |
💻Trading Platforms | MT4, MT5, HFM Platform |
📚Educational Resources | Webinars, articles, tutorials |
☎️Customer Support | 24 hours, 5 days a week |
📍Focus | Potentially suited for experienced traders due to the focus on the volatile VIX. Consider your trading experience and risk tolerance. |
📌Important Note | Thorough research on Conduct thorough research on HFM South Africa's specific regulations, educational resources, customer support options, and potential ZAR funding options before opening an account. |
🚀 Open an Account | 👉 Open Account |
HF Markets Islamic Account
The HF Markets Islamic Account is best suited to Muslim traders on both MetaTrader 4 and MetaTrader 5 trading platforms. The HF Markets overs leverage of up to 1:30 and trade size from 1 Micro Lot.
HF Markets Pros and Cons
✅ Pros | ❌ Cons |
FSCA Regulated | US clients not accepted |
Fast and easy account opening | High bank withdrawal fees |
Low trading fees | Inactivity fee after one year |
Min Deposit
USD 0 / ZAR 0
Regulators
FSCA, DFSA, FSC, CMA. FCA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
No Trading Fees
Account Activation
24 Hours
Admiral Markets
Admiral Markets operate under the Admirals trademark. With a large global presence with an outstanding reputation, Admiral Markets fall under the regulatory authority of multiple high-security institutions.
Admiral Markets Overview
🔎 Broker | 🥇 Admirals |
📌Regulation and Licenses | FCA, ASIC, CySEC, JSC,FSCA, FSA,CMA |
💰Bonuses | Referral bonus, welcome bonus, no-deposit bonus, cashback program |
⏰Support Hours | 24/5 |
📈Trading Platforms | MetaTrader 4, MetaTrader 5, Admirals App |
📉Account Types | Trade.MT4, Zero.MT4, Trade.MT5, Invest.MT5, Zero.MT5, Bets.MT5 |
💴Base Currencies | EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, RON |
💹Spreads | From 0.0 pips |
📊Leverage | Up to 1:1000 |
💵Currency Pairs | 80+, major, minor, and exotic pairs |
💶Minimum Deposit | 25 USD |
💷Inactivity Fee | ✅Yes |
💻Website Languages | English, German, French, Italian, Romanian, Spanish, Portuguese, Russian, Polish, and others |
💰Fees and Commissions | Spreads from 0.0 pips, commissions from $0.02 |
🤝Affiliate Program | ✅Yes |
🅰️Scalping | ✅Yes |
🅱️Hedging | ✅Yes |
⚙️Trading Instruments | ESG, Forex, Crypto CFDS, Indices, Stocks, ETFs, Bonds |
🚀Open an Account | 👉 Click Here |
Admiral Markets Islamic Account
The Admiral Markets Islamic Forex Account allows traders of the Muslim faith to trade on standard terms without having interest fees credited or debited. The Islamic, swap-free option is made available on the Trade.MT5 account and Islamic traders will not pay or earn swaps or interest on CFDs on currency pairs, indices, commodities, shares, ETFs, and bonds.
Admiral Markets Pros and Cons
✅ Pros | ❌ Cons |
Multiple account choices | Does not accept cash deposits from banks |
Low trading fees | Inactivity fee |
No withdrawal fee | Product portfolio limited |
Straightforward account opening | No 24/7 customer service |
Available in South Africa | Does not accept US Clients |
Negative balance protection | E-wallet options aren't available for all customers |
Min Deposit
USD 25
Regulators
CySEC, FCA
Trading Platform
MT4, MT5, WebTrader
Crypto
No
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Pepperstone
Pepperstone is one of the world’s largest forex brokers and is regulated by ASIC, BaFin, CMA, CySEC, DFSA, FCA, and SCB. Pepperstone offers Islamic swap-free trading on a Standard trading account level.
Pepperstone Overview
🔎 Broker | 🥇 Pepperstone |
📍 Regulation | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB |
📌AFSL No | 414530 |
📌FCA no | 684312 |
👍 Demo Account | ☑️ Yes |
💰 Minimum Deposit | $0 USD |
📎 Bonus | No |
☪️ Islamic account | ✅ Yes |
📊 Institutional Accounts | ☑️ Yes |
📊 Managed Accounts | ✅ Yes |
📈 Maximum Leverage | 1:200 |
⚙️Products Offered | Stock, Indices, Commodities, Shares, Cryptocurrencies |
👨💼Account Types | Razor account Standard account Demo account Islamic account |
🖥️Trading Platforms | TradingView MetaTrader 4 MetaTrader 5 cTrader Capitalise.ai |
💳 Deposit and Withdrawal Options | Visa Mastercard Bank transfer MPESA PayPal Bpay Neteller POLi Skrill China UnionPay |
☎️Customer Support | 24/7 multilingual support |
📍Focus | Razor-sharp spreads, deep liquidity, caters to various experience levels |
📌Important Note | CFDs are complex instruments and carry the risk of losing more than your initial deposit due to leverage. It's crucial to understand the risks involved before trading CFDs. |
🚀 Open an Account | 👉 Open Account |
Pepperstone Islamic Account
Pepperstone offers a swap-free account on a standard account level. The Pepperstone Islamic account is interest-free and allows traders to take advantage of the brokers’ cutting-edge trading technology and deep liquidity.
Pepperstone Pros and Cons
✅ Pros | ❌ Cons |
Fast Account Opening | Mostly CFDs Offered |
Excellent Customer Support | Basic MetaTrader Platform |
Negative Balance Protection | No Managed Accounts |
Min Deposit
USD 0
Regulators
ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB
Trading Platform
MT4, MT5, cTrader, TradingView
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
FP Markets
FP Markets is an Australian-based, multi-asset broker that is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
FP Markets Overview
🔎 Broker | 🥇 FP Markets |
📌 Regulation | CySEC, ASIC |
☪️ Islamic account | ✅ Yes |
👍 Demo Account | ✅ Yes |
📊 Institutional Accounts | No |
📊 Managed Accounts | No |
📈 Maximum Leverage | 1:400 |
💰 Minimum Deposit | $100 USD |
Open an Account | 👉 Click Here |
FP Markets Islamic Account
FP Markets makes Islamic Account options available on a MetaTrader 4 or MetaTrader 5 account level. Both FP Markets Islamic account options are fully Sharia-complaint.
FP Markets Pros and Cons
✅ Pros | ❌ Cons |
Easy and fast account opening | Limited product portfolio |
Low trading fees | High CFD fees |
Fast execution of trades | High minimum deposit |
Low Forex fees | High fee for international bank withdrawal |
Min Deposit
USD 100
Regulators
ASIC, CySEC, FSCA, CMA
Trading Platform
MT4, MT5, Iress Trader, cTrader
Crypto
Yes
Total Pairs
70+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
ThinkMarkets
ThinkMarkets is a premium multi-asset online brokerage that is regulated by multiple top-tier institutions including the FCA, FSCA, and ASIC. All ThinkMarkets clients fall under the ThinkMarkets $1 Million Insurance program.
ThinkMarkets Overview
🔎 Broker | 🥇 ThinkMarkets |
💰 Minimum Deposit | $0 USD |
🆓 Demo Account | ✅ Yes |
☪️ Islamic Account | On Request |
📌 Joint Account | On Request |
4️⃣ MetaTrader4 | ✅ Yes |
🤝 Live Support | ✅ Yes |
💸 Commission | Variable |
🔁 Spreads from | 0 Pips |
📊 Leverage | 500:1 |
📈 Max Trade Size | 50 - 100 Lots |
❤️ Account Manager | Selected Accounts |
💻 ThinkTrader®️ | ✅ Yes |
🚀 Open an Account | 👉 Click Here |
ThinkMarkets Islamic Account
ThinkMarkets offers Islamic swap-free trading on a stand-alone trading account level. A ThinkMarkets Islamic account can be opened on request.
ThinkMarkets Pros and Cons
✅ Pros | ❌ Cons |
Regulated by FCA (UK), ASIC (Australia), and FSCA (South Africa) | Fewer assets compared to some competitors |
Offers Standard, ThinkZero, Islamic, and Demo accounts | Spreads can widen during high volatility |
$0 for Standard account, $500 for ThinkZero | Fees may apply for international bank transfers |
Competitive spreads, especially on ThinkZero accounts | Educational materials are not as extensive as some competitors |
Available for retail accounts | Standard stop-loss orders can experience slippage |
Access to MT4, MT5, and ThinkTrader | Charges an inactivity fee after 12 months |
For high-volume traders | Fewer research tools compared to larger brokers |
Up to 500:1 (depending on jurisdiction) | Limited local customer support in some regions |
Offers a robust affiliate program | Limited availability of cryptocurrency trading options |
Min Deposit
USD 0
Regulators
FCA, FSCA, ASIC, CySEC, JFSA
Trading Platform
MT4, MT5, ThinkTrader
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Derivative products are leveraged products and can result in losses that exceed initial deposits.
FXTM
FXTM is a global CFD and FX broker that is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
FXTM Overview
🔎 Broker | FXTM |
📌 Regulation | FSCA, FSC, CySEC, |
☪️ Islamic Account | Yes |
🆓 Demo Account | Yes |
📍 Institutional Accounts | Yes |
📊 Managed Accounts | Yes |
📈 Maximum Leverage | 1:2000 |
💰 Minimum Deposit | $200 |
📌 Open an Account | Open Account |
FXTM Islamic Account
FXTM offers Islamic, Swap-Free trading on the Micro, Advantage, and Advantage Plus account types. The minimum deposit required to open an FXTM Islamic Account will range between $10 USD – $500 USD depending on the account type selected.
FXTM Pros and Cons
✅ Pros | ❌ Cons |
Fast execution speeds | Bonus programs might be restricted in some regions. |
High leverage (up to 1:2000) | High leverage can increase risk, especially for beginners. |
Tight spreads on ECN accounts | Lower leverage options for EU/UK clients due to regulations (1:30 for retail traders). |
Access to MetaTrader 4 & 5 | High inactivity fees if the account is dormant. |
Good educational resources | Customer support can sometimes be slow during peak times. |
Regulated by several authorities (FCA, CySEC, FSCA) | Limited product offering outside Forex (fewer stocks and indices). |
XTB
XTB is one of the largest, global stock exchange-listed FX & CFD brokers and is regulated by the world’s biggest supervision authorities, including the FCA, KNF, CySEC, and IFSC.
XTB Overview
🔎 Broker | 🥇 XTB |
💰 Min. Deposit Required | None |
🛑 Inactivity Fee | $10 USD / R160 ZAR |
🆓 Demo Account | ✅ Yes |
🔁 Spreads from | 0.1 |
📌 Commissions | Pro Account |
🎉 Sign Up Bonus | ✅ Yes |
🔘Products Offered | Forex, CFDs on indices, shares, commodities, cryptocurrencies |
👨💼Account Types | Standard, Pro, and XTB Zero accounts |
💻Trading Platforms | XTB Trader, MetaTrader 4, MetaTrader 5 |
⚖️Regulation | Regulated by multiple authorities including the UK's FCA, Cyprus' CySEC, and Poland's KNF |
📚Educational Resources | Webinars, market analysis, educational materials |
📞Customer Support | 24/7 |
📍Focus | User-friendly platform, competitive spreads, range of trading instruments |
📌Important Note | CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. |
🎉 Sign Up Bonus | Yes |
📈 CFD Markets | 1500+ |
💰 Cash Back | Yes |
🚀 Open an Account | 👉 Click Here |
XTB Islamic Account
XTB makes an Islamic option available on the Swap Free Account level. The XTB Islamic Account comes with a leverage of up to 1:500 and no additional charges.
XTB Pros and Cons
✅ Pros | ❌ Cons |
Used by 230,000+ traders | Doesn’t offer VPS |
Established in 2002 | Limited range of instruments |
Regulated by Financial Conduct Authority | Not ASIC Regulated |
Min Deposit
USD 0
Regulators
FCA, CySEC, IFSC, KNF
Trading Platform
MT4, xStation
Crypto
Yes
Total Pairs
0
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Conclusion
👉 Now it is your turn to participate:
➡️ Which Forex Broker with an Islamic Account from this list do you intend to test out?
➡️ What was the determining factor in your decision to engage with a certain broker?
➡️ Was it because of the Islamic Account option on offer or the Pros and Cons?
👉 Regardless, please share your thoughts in the comments below.
You might also like: OctaFX Review
You might also like: IC Markets Review
You might also like: AvaTrade Review
You might also like: HF Markets Review
You might also like: Admiral Markets Review
Frequently Asked Questions
What features should I look for in an Islamic account forex broker?
When looking for an Islamic account forex broker, it is important to consider factors such as regulation, platform offerings, customer support, and the broker’s reputation. It may also be helpful to look for a broker that offers transparent and competitive spreads.
How do I open an Islamic account with a forex broker?
To open an Islamic account with a forex broker, you will typically need to complete an online application and provide the necessary personal and financial information. Some brokers may also require proof of identity and a minimum deposit.
Is it more difficult to trade with an Islamic account forex broker?
Trading with an Islamic account should not be more difficult than trading with a regular forex account. However, it is important to choose a reputable and reliable forex broker and familiarize yourself with the features and restrictions of the Islamic account.
Can I convert my regular forex account to an Islamic account with my current broker?
This will depend on the specific policies of your forex broker. Some brokers may allow you to convert your account, while others may require you to open a new account specifically for Islamic trading.
Is trading with an Islamic account forex broker more secure?
The security of your trades will depend on the regulation and reputation of the chosen forex broker, regardless of whether you have a regular or Islamic account. It is important to carefully research and compare brokers to ensure that your funds and trades are secure.
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