Yes, a Rakuten Securities Islamic account for Muslim faith traders including a swap-free account is offered. The Islamic forex trading environment is ideal for traders following strict sharia law. The fee is not an interest and depends on the direction of the order.
Rakuten Securities at a glance
| 🔍 Brokers Name | Rakuten Securities |
| 📍 Headquartered | Australia, Japan |
| 📅 Year Founded | 1999 |
| 🏛 Regulating Authorities | Australian Securities & Investments Commission (ASIC) |
| 🌐 Countries not accepted for trade | United States |
| ☪️️ Islamic Account (Swap Free) | Yes |
| 📒 Demo Account | Yes |
| 💻 Institutional Accounts | No |
| 💻 Managed Accounts | Yes |
| 📊 Maximum Leverage | 1:30 |
| 💰 Minimum Deposit | $50 |
| ZAR | R800 ZAR |
| 💳 Deposit Options | Domestic and international bank wire Credit or debit card Neteller Skrill China Union Pay Instant transfer for South-East Asia TransferWise |
| 💳 Withdrawal Options | Domestic and international bank wire Credit or debit card Neteller Skrill China Union Pay Instant transfer for South-East Asia TransferWise |
| 📉 Platform Types | MetaTrader 4 |
| 📲 OS Compatibility | Windows, Mobile, Web, iPhone, iPad PC and Mac OS, mobile for Android and IOS |
| 📊 Tradable Assets | Forex, stock index CFDs and commodity CFDs. |
| 🌐 Languages supported | French German Greek Hindi Indonesian Italian Japanese Korean Malay Polish Portuguese Russian Spanish Thai Turkish Ukrainian Vietnamese |
| ☎ Customer Service | 24 hours a day /5 days a week |
Min Deposit
USD 50
Regulators
ASIC
Trading Platform
MT4
Crypto
No
Total Pairs
40
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Rakuten Securities Islamic Account Revealed – A Key 10 Point Quick Overview
- ✅Rakuten Securities Overview
- ✅What exactly is an Islamic Account?
- ✅Why is interest discouraged or prohibited by Sharia law?
- What are the steps involved in opening a Rakuten Securities Islamic Account?
- What are Rakuten Securities’ spread costs on an Islamic Account?
- What other features does Rakuten Securities’ Islamic Account have?
- Rakuten Securities Pros and Cons
- Rakuten Securities Customer Reviews
- Final Thoughts
- Frequently Asked Questions
Rakuten Securities Overview
Rakuten Securities was established in 1999 and has grown to be a well-established, globally operational online Forex and CFD broker. Rakuten Securities offers four different account types which provide very tight spreads, starting as low as 0.8 pips, and commission-free trading, which can be opened for a minimum deposit of $50.
Forex and CFD trading is facilitated on the highly regarded MetaTrader 4 platform, which is a popular piece of software for trading forex and metals. Besides managing trades, it lets you analyze prices with a slew of charts and technical analysis tools.
The software also allows for advanced strategy testing. All the technical indicators that are available with the MetaTrader 4 platform can be programmed into an expert advisor, once a back-test has been performed. In addition, you can customize all these indicators using the MQL4 programming language. While Rakuten Securities provides a feature-rich environment for advanced traders, beginners can also take advantage of the broker’s comprehensive educational offering.
Finally, Rakuten Securities provides a highly secure trading environment to all traders with guaranteed security of client funds. Rakuten Securities is highly regulated by the Australian Securities and Investments Commission (ASIC), which applies strict measures in terms of ensuring client deposits and applying stringent deposit security measures.
Rakuten Securities Australia fully adheres to Anti-Money Laundering and Counter-Terrorism Financing Rules (AML/CTF Rules) following the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
What exactly is an Islamic Account?
To better understand Islamic forex trading, it is important to first gain an insight into the guiding principles of Islamic finance. To this end, Islamic finance differs significantly from conventional finance in that it is guided by a set of ethics rather than by a purely profit motive. As such, two principles guide Islamic finance as below:
▶ The first principle is a risk-sharing philosophy between the lender and borrower. According to Islamic principles, interest is unethical, as it guarantees a reward for the lender, while the borrower must incur all the risk. This, according to Islamic finance, can lead to exploitative practices.
▶ The second principle is that financial activity must promote social and economic wellbeing. The purpose of finance in Islam is to promote happiness and contentment in this earthly life. Finance is just one part of life and society.
With these guiding principles, the fundamental feature of Islamic finance is to encourage socio-economic justice. It is for this reason that interest (or riba) is prohibited. Excessive risk (or gharar) is also prohibited, as is excessive gambling or speculation.
| ☪️️ Rakuten Securities Islamic Account: | Strict Sharia Law |
| Swap 🆓 | |
| Min deposit $50 |
Why is interest discouraged or prohibited by Sharia law?
Interest is any pre-agreed fee paid over and above the principal amount, whether it is a personal or commercial loan. Charging interest, according to Sharia law, or making money from money, is unlawful. The major reasons for its condemnation include:
| ☪️️ Riba | promotes negative growth. It may increase money quantitatively, but essentially, there is no primal progression in social wealth. |
| disgraces the human spirit. It effectively promotes a culture that places undue significance on that which is monetary, while disregarding that which is human. | |
| is essentially seen as the unlawful acquisition of property. | |
| When entrenched, Riba corrupts society. | |
| for all intents and purposes, unjust. While it creates money for the lender, it is extremely oppressive towards the borrower. |
What are the steps involved in opening a Rakuten Securities Islamic Account?
Opening an Islamic Account with Rakuten Securities is an easy, online process that consists of the following steps:
Step 1 – Navigate to the Rakuten Securities website and click on ‘Start Trading”
Navigate to the account registration area on the Rakuten Securities website. This can be accessed by clicking on the Start trading button at the top of the landing page.
Step 2 – Fill out the Rakuten Securities account registration form
Fill out the short online registration form to request a live trading account. You will need to provide your name, title, last name, date of birth, country of residence, nationality, email, and mobile number.
Click “next” to continue
🟢 Step 3 – Fill out the Rakuten Securities address
Fill out the form by providing the required address, mobile number, and postal code.
🟢 Step 4 – Fill out Employment details
Provide details such as employment status, financial details, and by filling out a short trading experience questionnaire.
🟢 Step 5 – Choose Rakuten Securities Islamic Account
Choose the swap type for trading, as well as the currency of your account. Read and agree to the declaration, click next to continue.
🟢 Step 6 – Upload documentation
Verify your identity by uploading a photographic passport, driver’s license or national id, and proof of address (within the last 6 months).
Additional documentation can be uploaded to support the Rakuten Securities application, If you choose an Islamic account, you must verify your Islamic faith. Click Submit to apply.
What are Rakuten Securities’ spread costs on an Islamic Account?
The spreads on the Islamic Account will have the same conditions as those on the swap-rated accounts. To this end, Rakuten Securities offers tight fixed spreads without commission. The broker’s pricing comes directly from its headquarters which has access to a wide range of top-tier liquidity providers to enable clients to trade with competitive spreads in the global market.
As such, spreads average at 0.5 pips for major currency pairs like EUR/USD.
What other features does Rakuten Securities’ Islamic Account have?
Users of the Islamic Account will be able to enjoy the following features:
| 📊 Leverage | up to 30:1 |
| 💳 Spreads from | 0.5 |
| 💳 Minimum deposit | $50 |
| ZAR | R800 ZAR |
| ▶ Max 1shot Amount | 20 |
| ▶ Max Open Position | 250 lots |
| ▶ Margin Call Level | 70% |
| ▶ Stop Out Level | 50% |
| Client Money Segregation | ☑ |
| Negative Balance Protection | ☑ |
| Product Disclosure Statement | ☑ |
| Financial Services Guide | ☑ |
Traders on the Islamic Account will also have access to the MetaTrader 4 platform. Rakuten Securities Australia offers 2-different trading platforms through MT4. This includes both a downloadable trading platform and a mobile trading platform. The mobile platform supports both Android and iOS. The mobile platform profits from a wide variety of features including charting using technical analysis tools.
Rakuten Securities Pros and Cons
| ✔️ Pros | ❌ Cons |
| Easy Islamic Account sign-up process | Additional charges on the Islamic Account |
Rakuten Securities Customer Reviews
Good Broker
Rakuten Securities is one of the best brokers..Fast depo, fast profit & fast withdraw .. good job ..100% Recommended! – Tina
Must Join
I have had a great experience with Rakuten and I am pleasantly surprised at how great the customer service is.. Any minor issue I had tracking my cashback was quickly resolved within 24 hours…. – Kim
Rakuten Securities Affiliate Program
I enjoy the opportunities to earn an income through IB programs offered by forex brokers, Check it out! – Natalie
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Min Deposit
USD 50
Regulators
ASIC
Trading Platform
MT4
Crypto
No
Total Pairs
40
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Final Thoughts
Overall, Rakuten Securities is one of the largest forex brokers in the industry, offering low fees with a fast and easy account opening procedure. The company’s MT4 platform offers everything a trader might need, with comprehensive tools and fast execution. While the company’s instrument portfolio might be too limited for some, pure forex brokers will find a well-regulated broker with competitive spreads and useful tools.
Frequently Asked Questions
How many instruments can I trade with the Rakuten Securities Islamic account?
Rakuten Securities has a limited asset selection, consisting of forex, stock index CFDs, and commodity CFDs.
Are Muslim traders from South Africa allowed to open a trading account with Rakuten Securities?
Yes, Rakuten Securities gives Muslim traders from South Africa the opportunity to open an account.
Which platforms are supported by Rakuten Securities?
Rakuten Securities supports the MetaTrader 4 platform.
Does Rakuten Securities offer leverage on the Islamic account?
Yes. Rakuten Securities offers leverage ratios in line with ASIC’s latest restriction effective from 29 March 2025:
- 30:1 for major currency pairs
- 20:1 for minor currency pairs, gold, or a major stock market index
- 10:1 for commodities (other than gold) or a minor stock market index
- 2:1 for crypto-assets
- 5:1 for shares or other assets
What spreads can I expect with Rakuten Securities Islamic accounts?
Rakuten Securities offers tight fixed spreads without commission. The broker’s pricing comes directly from its headquarters which has access to a wide range of top-tier liquidity providers to enable clients to trade with competitive spreads in the global market.
As such, spreads average at 0.5 pips for major currency pairs like EUR/USD.
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