Best Islamic Trading Accounts
Compare the best Islamic trading accounts in South Africa, including standalone Islamic accounts and others available without swap charges.
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Best brokers
- FP Markets Best FX Broker Australia 2021 - FxScouts
- FXCC Best Forex Trading Account 2017 - UK FOREX Awards
- FxPro Best MetaTrader Broker 2020
- Equiti Best Overall Broker 2023 - TrustedBrokers.com
- LiteFinance Best ECN Broker Africa 2020
Broker reviews
FP Markets is a true ECN broker with razor-thin spreads and deep liquidity. Trade CFDs on over 1,000 stocks, indices, commodities and currency pairs through MetaTrader 4 or 5. FP Markets supports all trading styles and EAs.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulated entity (South Africa): FP Markets (Pty) Ltd (No. 50926)
$100 | 1:500 | Market |
$100 | 1:500 | Market |
Trade CFDs across Forex, crypto, oil and indices with leverage up to 1:500. FXCC accepts all trading styles and Expert Advisors on MT4. There are no conflicts of interest, as FXCC.com doesn't trade against you.
- Markets: Forex (CFD), Cryptos (CFD)*, Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4
- Regulators: Cyprus (EU), Nevis
$0 | 1:500 | Market |
FxPro (FxPro.com) is a global broker, winner of 95+ awards including "Best MetaTrader Broker" in 2020. Trade 250+ instruments across a wide range of asset classes on MT4/5 or cTrader. FxPro accepts all trading styles without restrictions.
- Risk warning: 84.69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Spread Betting work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
- Regulated entity (South Africa): FxPro Financial Services Ltd (FSCA No. 45052)
$500 | 1:200 | Instant |
$500 | 1:200 | Market |
$500 | 1:200 | Market |
Equiti.com is TrustedBrokers' Best Overall Broker in 2023. Trade CFDs on 400+ instruments on leverage up to 1:500. Get superior execution through its network of 35+ liquidity providers. Equiti accepts all trading styles, without restrictions.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5
- Regulators: Armenia, Jordan, Kenya, Seychelles, UAE, UK
$500 | 1:500 | Market |
$10000 | 1:500 | Market |
$50000 | 1:500 | Market |
LiteFinance (LiteFinance.com), formerly LiteForex, is a global ECN broker. Trade CFDs on a wide range of markets on Metatrader 4 or 5, with flexible leverage up to 1:1,000. LiteFinance accepts all EAs and trading styles, including scalping and news trading.
- Risk warning: 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading, Mirror trading
- Regulators: Cyprus (EU), Saint Vincent and the Grenadines
$50 | 1:1000 | Market |
$50 | 1:500 | Market |
AvaTrade (AvaTrade.com) is an award-winning online broker. Trade CFDs on Forex, crypto-currencies, shares, metals and more on MetaTrader 4 or 5. AvaTrade accepts all Expert Advisors except those with a focus on arbitrage.
- Risk warning: 77.82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulated entity (South Africa): Ava Capital Markets Pty (FSCA No. 45984)
$100 | 1:400 | Instant |
$100 | 1:30 | Instant |
$100 | 1:400 | Instant |
HFM (HFM.com), formerly known as Hot Forex, is an award-winning Forex and CFD broker, with accounts tailored to new and experienced traders. Trade a wide range of markets including Forex, stocks, indices and commodities through MetaTrader 4 or 5.
- Markets: Forex (CFD), Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD), Bonds (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Currenex, Copy trading, Mirror trading
- Regulated entity (South Africa): HF Markets SA (PTY) Ltd (FSCA No. 46632)
$5 | 1:1000 | Market |
$100 | 1:500 | Market |
HYCM (HYCM.com), formerly HY Markets, is an award-winning regulated online broker. Trade over 300 instruments on fixed or variable spreads over MetaTrader 4 or 5.
- Risk warning: 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5
- Regulators: Cayman Islands, Cyprus (EU), Saint Vincent and the Grenadines, UAE, UK
$100 | 1:500 | Instant |
$100 | 1:500 | Instant |
$200 | 1:500 | Instant |
JustMarkets (formerly JustForex) is an offshore broker that allows you to trade over 170 instruments on low spreads, and high leverage up to 3,000 times your initial deposits. It accepts all trading styles on MetaTrader 4 and 5.
- Risk warning: Margin trading in the financial markets is speculative and implies a high level of risk, including full loss of deposit.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, Copy trading
- Regulators: Cyprus (EU), Seychelles
$1 | 1:3000 | Market |
$100 | 1:3000 | Market |
$100 | 1:3000 | Market |
$1 | 1:3000 | Market |
RoboForex is an international broker headquartered and regulated in Belize. Access over 12,000 instruments, including real stocks and CFDs on Forex, crypto-currencies and oil, from a single platform.
- Risk warning: 58.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
- Markets: Forex (CFD), Cryptos (CFD)*, Stocks (CFD), Indices (CFD), Metals (CFD), Energy (CFD), Commodities (CFD)* Availability subject to regulation.
- Platforms: MetaTrader 4, MetaTrader 5, cTrader, Copy trading
- Regulators: Belize
$10 | 1:2000 | Market |
We hope this article has helped narrow your options and we would encourage you to create either a live or a demo account with each of these brokers, to see what they have to offer. If not, here are a few things to look for when searching for a Shariah-compliant broker:
- No interest on overnight positions (also called swap fees).
- No time limit placed on positions kept open overnight.
- No fees charged on positions kept open overnight.
- No additional charges (e.g. administrative fees).
- No spread-widening for Islamic accounts.
- AvaTrade Offshore Trading Account
- FxPro Offshore Trading Account
- Best Islamic Forex Broker
- Best Islamic Trading Accounts
Featured Brokers
Best Execution
Classic Account
Trade CFDs on variable spreads from 1.2 pips on MetaTrader 4 or 5. This account supports all Expert ... More
- $100 deposit
- 1:500 leverage
- 1.2 pips EUR/USD
- Regulators: Cayman Islands, Cyprus (EU), Saint Vincent and the Grenadines, UAE, UK
Best Conditions
Standard Account
Trade 74 currency pairs and CFDs on stocks, oil, metals and crypto with leverage up to 1:500. 4XC ... More
Best Platform
AvaTrade Account [BVI]
Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and... More
- $100 deposit
- 1:400 leverage
- 0.9 pips EUR/USD
- Regulators: Australia, BVI, Cyprus (EU), Gibraltar, Israel, Japan, South Africa, UAE