Best Swap-Free Islamic Trading Accounts

Trade CFDs on Forex, shares and commodities under Shariah law with an Islamic trading account. We've reviewed the best swap-free Islamic trading accounts for you, and shone a light on hidden fees.

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What is an Islamic Forex trading account?

When you keep positions open overnight, your broker will automatically carry them over into the following day. However, this poses a problem for investors that follow Sharia law, as interest arises during the rollover. This interest, also known as "swap charges" or "rollover fees", can be a positive or a negative value.

Islamic trading accounts have no such rollover fees. Unfortunately, some brokers charge administrative fees or widen the spreads you pay when you place orders, in order to recover lost revenue. However, some brokers don't. This article reviews each broker in turn, to help you find the right account.

What's the best Islamic trading account?

In our opinion, eToro offers the best Islamic trading account. eToro charges no swap fees, no commission on positions left open overnight and no additional account fees. In other words, eToro's islamic trading account provides interest-free leverage. To get started, open a real account on eToro, deposit at least $1,000 and contact customer service to switch your account to an Islamic one.

However, eToro isn't the only broker to offer a swap-free account. We've listed Islamic Forex brokers below, and discussed their hidden fees (or lack of fees), in more detail:

#1

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67% of retail CFD accounts lose money

Buy shares outright or trade CFDs on shares, indices, Forex, cryptocurrencies and more*. Connect with over 6 million other investors, follow or copy their trades in real-time on eToro.com.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
• Platforms: Copy trading
• Regulators: Australia, CySEC, UK
• Incorporated: 2007

• Accounts

Islamic Account [EU]  ▷ Islamic Account [EU]: Trade 47 currency pairs, crypto-currencies, popular stocks, indices, gold and silver with no interest or commissions. Open an account online and request an Islamic account from your account manager.
$1000 deposit	1:30 leverage	Instant execution	▷

#2

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Trade Forex and CFDs on over 10,000 stocks, indices, commodities and currency pairs when you open an IRESS account with FP Markets. FP Markets also supports MetaTrader 4 and 5.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, Copy trading
• Regulators: Australia, CySEC
• Incorporated: 2005

• Accounts

Standard ECN Account [MT4]  ▷ Standard ECN Account [MT4]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT4 with this ECN account. Get fast execution speed over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

ECN RAW Account [MT4]  ▷ ECN RAW Account [MT4]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT4 with this ECN account. Get fast execution speed over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

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Standard ECN Account [MT5]  ▷ Standard ECN Account [MT5]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT5 with this ECN account. Get fast execution speeds over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

ECN RAW Account [MT5]  ▷ ECN RAW Account [MT5]: Trade over 50 pairs of currencies as well as CFDs on metals, indices and commodities through MT5 with this ECN account. Get fast execution speed over dedicated fibre optic links to New York.
$100 deposit	1:500 leverage	Market execution	▷

#3

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79% of retail CFD accounts lose money

AvaTrade (AvaTrade.com) is an award winning online broker. Access a wide range of markets spanning Forex, crypto-currencies, shares, metals and more on competitive spreads.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, Copy trading
• Regulators: Australia, BVI, Ireland, Japan, South Africa, UAE
• Incorporated: 2006

• Accounts

AvaTrade Account [BVI]  ▷ AvaTrade Account [BVI]: Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and commodities. AvaTrade accepts all MetaTrader EAs except those with a focus on arbitrage.
$100 deposit	1:400 leverage	Instant execution	▷

AvaTrade Account [EU]  ▷ AvaTrade Account [EU]: Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and commodities. AvaTrade accepts all MetaTrader EAs except those with a focus on arbitrage.
$100 deposit	1:30 leverage	Instant execution	▷

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Islamic Account [BVI]  ▷ Islamic Account [BVI]: Trade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not charge rollover fees or swaps on overnight positions. You cannot invest in crypto-currencies through this account.
$100 deposit	1:400 leverage	Instant execution	▷

Islamic Account [EU]  ▷ Islamic Account [EU]: Trade a wide range of financial instruments with a Shariah compliant account. AvaTrade does not charge rollover fees or swaps on overnight positions. You cannot invest in crypto-currencies through this account.
$100 deposit	1:30 leverage	Instant execution	▷

Professional Account [EU]  ▷ Professional Account [EU]: Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and commodities. AvaTrade accepts all MetaTrader EAs except those with a focus on arbitrage.
$100 deposit	1:400 leverage	Instant execution	▷

#4

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HotForex (HotForex.com) is an award winning Forex and commodity broker, providing trading services and platforms to both retail and institutional clients.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, Currenex, Copy trading, Mirror trading
• Regulators: CySEC, France, Germany, Mauritius, South Africa, UK
• Incorporated: 2010

• Accounts

Micro Account  ▷ Micro Account: Trade Forex as well as CFDs on cryptocurrencies, shares, indices and metals on floating spreads without commission. This account, designed for new traders, has smaller trading sizes and a lower initial deposit.
$5 deposit	1:1000 leverage	Market execution	▷

Islamic Account  ▷ Islamic Account: Trade Forex as well as CFDs on cryptocurrencies, shares, indices and metals on floating spreads without commission. This account, designed for Muslim clients, does not incur swap or rollover charges for holding...more ▷ Islamic Account: Trade Forex as well as CFDs on cryptocurrencies, shares, indices and metals on floating spreads without commission. This account, designed for Muslim clients, does not incur swap or rollover charges for holding positions overnight. Terms and conditions apply.
$100 deposit	1:500 leverage	Market execution	▷

#5

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83% of retail CFD accounts lose money

LiteForex (LiteForex.com) is an international ECN Forex broker. Trade a wide range of markets on Metatrader 4 or 5. LiteForex accepts a wide range of deposit methods, including Bitcoin, Monero and other cryptos.

• Markets: Forex (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
• Regulators: CySEC
• Incorporated: 2005

• Accounts

Classic Account  ▷ Classic Account: Trade Forex on floating spreads from 2 pips on MT4 or MT5. Get started from a low $50 deposit. Market execution with no requotes.
$50 deposit	1:500 leverage	Market execution	▷

ECN Account  ▷ ECN Account: Trade Forex on floating spreads from 0 pips plus commission on MT4 or MT5. Get started from a low $50 deposit. Get market execution with no requotes. LiteForex pays 2.5% interest per annum on the balance of your account.
$50 deposit	1:500 leverage	Market execution	▷

#6

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79.78% of retail CFD accounts lose money

FxPro (FxPro.com) is a global broker, winner of 60+ awards including "Best MetaTrader Broker" in 2020 and "Best FX Provider" three times in a row.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
• Regulators: Bahamas, CySEC, South Africa, UK
• Incorporated: 2006

• Accounts

MT4 Floating - Instant Execution  ▷ MT4 Floating - Instant Execution: Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant execution. All EAs are allowed.
$500 deposit	1:200 leverage	Instant execution	▷

MT4 Floating - Market Execution  ▷ MT4 Floating - Market Execution: Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and market execution. All EAs are allowed.
$500 deposit	1:200 leverage	Market execution	▷

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FxPro cTrader  ▷ FxPro cTrader: Trade 70+ currency pairs, spot indices, energies and metals on razor-thin spreads with market execution. Run cAlgo algorithmic trading robots.
$500 deposit	1:200 leverage	Market execution	▷

#7

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LQDFX (LQDFX.com) is an international Forex broker and CFD provider headquartered in the Marshall Islands. It delivers STP execution on MT4 across 71 currency pairs, indices and commodities.

• Markets: Forex (CFD), Indices (CFD), Metals (CFD), Commodities (CFD)
• Platforms: MetaTrader 4, Mirror trading
• Regulators: Marshall Islands
• Incorporated: 2015

• Accounts

Gold Account [Islamic]  ▷ Gold Account [Islamic]: Trade up to 71 currency pairs as well as CFDs on metals, commodities and indices through MT4. STP trading with no requotes. Swap-free account only available to clients of Muslim faith.
$20 deposit	1:300 leverage	Market execution	▷

#8

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Trade without restrictions with OctaFX (OctaFX.com), an international broker headquartered in St. Vincent & The Grenadines. Access CFDs on currency pairs, indices, precious metals and commodities on MetaTrader 4, MetaTrader 5 or cTrader.

• Markets: Forex (CFD), Cryptos (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
• Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
• Regulators: CySEC, Saint Vincent and the Grenadines
• Incorporated: NA

• Accounts

Micro Account  ▷ Micro Account: Trade Forex, crypto-currencies, indices and precious metals on fixed or floating spreads. This account, designed for novice traders, supports MetaTrader 4.
$100 deposit	1:500 leverage	Market execution	▷

Pro Account  ▷ Pro Account: Trade Forex, crypto-currencies, indices, precious metals and energies on tight floating spreads. This account, designed for experienced traders, supports MetaTrader 5.
$500 deposit	1:200 leverage	Market execution	▷

#9

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NordFX (NordFX.com) is an international Forex broker serving traders worldwide from its headquarters in Mauritius.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD)
• Platforms: MetaTrader 4, Copy trading
• Regulators: Mauritius
• Incorporated: 2008

• Accounts

Fix Account  ▷ Fix Account: Trade 28 currency pairs and CFDs on crytpo-currencies, metals and indices on fixed spreads. Get instant execution. Automated trading is allowed.
$10 deposit	1:1000 leverage	Instant execution	▷

Pro Account  ▷ Pro Account: Trade 33 currency pairs as well as CFDs on crypto-currencies, metals and indices on floating spreads. Get market execution with 5-decimal pricing. Automatic trading is allowed.
$250 deposit	1:1000 leverage	Market execution	▷

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Zero Account  ▷ Zero Account: Trade 33 currency pairs as well as CFDs on crypto-currencies, metals and indices from 0 pips. Get market execution with 5-decimal pricing. Automatic trading is allowed.
$500 deposit	1:1000 leverage	Market execution	▷

#10

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70% of retail CFD accounts lose money

FXPRIMUS (FXPrimus.com) is a regulated broker with ECN trading capabilities. Trade CFDs on Forex, crypto-currencies, indices, US equities and more asset classes. It prides itself in creating a safe and secure trading environment.

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)
• Platforms: MetaTrader 4, Copy trading, Mirror trading
• Regulators: CySEC, South Africa, Vanuatu
• Incorporated: 2009

• Accounts

Variable Spreads [EU]  ▷ Variable Spreads [EU]: Trade over 130 instruments across Forex, commodities, energies, global indices and US equities on low floating spreads without commission. This account has no swap charges.
$100 deposit	1:30 leverage	Market execution	▷

ECN Premier [EU]  ▷ ECN Premier [EU]: Trade over 130 instruments across Forex, commodities, energies, global indices and US equities from 0 pips plus commission. This account has no swap charges.
$500 deposit	1:30 leverage	Market execution	▷

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Variable Spreads [Vanuatu]  ▷ Variable Spreads [Vanuatu]: Trade over 130 instruments across Forex, commodities, energies, global indices and US equities on low floating spreads without commission. This account has no swap charges.
$100 deposit	1:1000 leverage	Market execution	▷

ECN Premier [Vanuatu]  ▷ ECN Premier [Vanuatu]: Trade over 130 instruments across Forex, commodities, energies, global indices and US equities from 0 pips plus commission. This account has no swap charges.
$500 deposit	1:1000 leverage	Market execution	▷

#11

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71% of retail CFD accounts lose money

• Markets: Forex (CFD), Cryptos (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)
• Platforms: MetaTrader 4, Mirror trading
• Regulators: Australia, Belarus, Canada, CySEC, UK
• Incorporated: 2013

• Accounts

Islamic Account  ▷ Islamic Account: Trade a wide range of asset classes without interest on overnight positions through MetaTrader 4: Forex as well as CFDs on stocks, indices, energies, commodities and US Treasuries.
$100 deposit	1:30 leverage	Instant execution	▷

Professional Account  ▷ Professional Account: Trade a wide range of asset classes on fixed spreads through MetaTrader 4: Forex as well as CFDs on stocks, indices, energies, commodities and US Treasuries.
$100 deposit	1:200 leverage	Instant execution	▷

Brokers without additional charges

• eToro (eToro.com): charge no fees or commissions on its Islamic account. It makes money exclusively through the spread. Importantly, it places no restrictions on how long your positions can stay open. Buy shares, cryptocurrency or trade CFDs on over 2,000 instruments. This is, in our opinion, the best Islamic trading account. Simply open an account online, fund it with a minimum of $1,000 an contact customer service before your first trade.
• LQDFX (LQDFX.com): charges no fees or commissions on its Islamic account, and places no restrictions on how long you can keep your positions open overnight. Its trading conditions mirror that of its Gold account, with a low $500 deposit. However, LQDFX reserves the right to discontinue your swap-free account if it suspects fraud, manipulation or swap arbitrage.
• AvaTrade (AvaTrade.com): charges no fees or commissions on Islamic accounts. However, it doesn't allow you to keep positions open for more than 5 days. For this reason, AvaTrade's Islamic account is best suited for day-traders, or those who expect to close their positions within 5 days.
• LiteForex (LiteForex.com): allows you to convert your account to an Islamic account at no additional cost. However, LiteForex reserves the right to revert your account to a swap-paying one, if your trades would otherwise mostly incur negative swaps (e.g. a cost to you).

Brokers with administrative fees

• EagleFX (EagleFX.com): charges an administrative fees on positions held overnight. To get started, open an account online and contact the customer service team to convert it into a swap-free account.
• FP Markets (FPMarkets.com): free of overnight fees for the first 5 days for Forex majors. However, administrative charges immediately apply across all other instruments. These fees, published on its website, range from $1 for CFDs on indices to $33 for the EURZAR currency pair. FP Markets offers swap free accounts on MT4 and MT5 (but not on the IRESS platform).
• FxPro (FxPro.com): free of overnight fees for a certain number of days. The grace period and fees vary with the account type and instrument. This PDF summarises FxPro's commissions across its accounts and instruments. To open an Islamic account with FxPro, open an account online and contact FxPro's back-office team before your first trade, to make it Islamic.
• HotForex (HotForex.com): free of overnight fees for the first 7 days. HotForex charges fees, published in the client area, beyond that grace period. HotForex reserves the right to apply additional fees, without prior notice (including across positions held for over a month).
• HYCM (HYCM.com): free of overnight fees for the first 14 days a position is opened. After that, overnight positions are charged a flat $5 fee per contract, per night.

Brokers with spread-widening

• 4XC (4xc.com): charges no administrative fees on its swap-free Islamic account. However, it does widen spreads marginally in order to compensate for the loss of revenue. 4XC places no restrictions on how long you can keep your positions open overnight. However, it reserves the right to discontinue your swap-free account if its suspects fraud, manipulation or swap arbitrage.

This article wouldn't be complete without mentioning that Plus500 also offers an Islamic account in certain jurisdictions. However, Plus500 does not communicate publicly on the conditions surrounding its Islamic account. To find out more, you will need to create an account and contact their customer service team.

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