Looking for Best Islamic Swap Free Account Forex Brokers? Not sure who is truly regulated and legit Forex Brokers offering Islamic Accounts? Or which one has best trading conditions and best for you?
We provide answers to all the questions in this article. We researched and compare all Islamic Account Forex Broker and check their regulation status, spread & commission, the time for deposit & withdrawal and many more findings.
What is a Swap Free Account in Forex?
Defining what is Swap Free account or what is a Forex Islamic Account is important to start from swap definition. Swap is a specific commission or rollover adjustment paid by the trader to the broker for holding position overnight that may be negative or positive and depending on the current price for the asset traded.
Forex Swap fee Free Accounts available for all traders upon request and if broker offers this type of account without swaps or adjustments, meaning trader benefit of swap free account with no Swaps charges what happens if an account is Swap Free. While Islamic Account usually used by Islamic Forex account traders via unique Islamic Account developed according to principles of the Islamic or Sharia laws since Forex in Islamic Perspective is no halal, but with Islamic Account users can join Islamic Forex trading. Read about Islamic Trading via Wikipedia.
What are the Best Swap Free Forex Accounts Forex Brokers
To select the Best Forex Broker with rollover-free or swap-free Account we research only trusted regulated Brokers where you can get a wasp free account and review details of license, spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. Here is our List of Top Swap-Free Account Brokers by category:
- OANDA – Best Swap Free Account for Beginners
- HYCM – Best Islamic Forex Broker
- Dukascopy – Best VIP Islamic Account Broker
- InstaForex – Lowest Deposit Swap Free Broker
What makes a good Forex Broker with Islamic Account?
You should check 4 points that make broker a good Islamic Forex Trading Account or Swap Free Broker, firstly compare licenses, trading conditions, account offering and markets or platforms you may need.
- Must be licensed by the reputable authority like FCA in the UK, MAS in Singapore or similar for traders funds safety and transparent trading
- Offer Islamic Swap Free account Forex with good range of instruments and competitive fees to ensure trading fees are fair
- Provide easy to navigate and use trading platform with no restrictions to deploy strategy in best way
- Run quality Customer Service to solve traders issues and provide education (Forex and CFDs are complex instruments with high risks and are not suitable for everyone, learn well before you start)
Top Islamic Accounts Swap Free Brokers List & Review
Here we made a list of Top 10 Islamic Forex sites Review. In addition to the top 4 List of Islamic Forex broker mentioned above here is our List Best Swap Free Forex broker Comparison:
|Forex Broker||Islamic Swap Free Account Forex Trading||Why they are our top picks||Our Review|
|OANDA||Yes||OANDA Swap Free account might be the best for beginners. OANDA has easy to use and packed with tools desktop trading platform including copy trading and Swap Free Demo Account good for practice, great education materials and research for CFD learning, plus very wide range of instruments compared to other brokers.||Visit OANDA site|
|HYCM||Yes||HYCM might be one of Best Islamic Account Forex brokers. HYCM is European regulated Broker also expands to UAE with regulated entity and good trading conditions for swap-free accounts, quality education and numerous trading instruments.||Visit HYCM site |
|InstaForex||Yes||InstaForex Swap Free Account is the best for low deposit requirement. You can open account starting form 1$ (majority require minimum 100$) and get various trading opportunities with good research and easy to use platform.||Visit InstaForex site|
|HotForex||Yes||HotForex Islamic Account has good trading conditions and Deposit Bonus option (is unique by regulated brokers now). HotForex has different platform and account with advanced education services.||Visit HotForex site|
|Dukascopy||Yes||For Swap Free VIP account and higher deposits, Dukascopy might be your option. Dukascopy is one of the largest online Switzerland banks, also with branch in UAE, providing great security and advanced proposals for VIP clients. It is one of the best for ECN accounts and transparency, option to access high leverage, plus customer service is excellent.||Visit Dukascopy site |
|FBS||Yes||FBS is among top Forex brokers with ECN Swap Free accounts. FBS has low spread ECN account and is among 9 Brokers with ECN Account, also offering account Micro Forex Swap Free or Islamic accounts. Traders can choose between MT4 MT5 or proprietary software with good research and quality education.||Visit FBS site|
|IC Markets||Yes||IC Markets might be best for cTraders Swap Free account also is good social trading ZuluTrade Broker. IC Markets providing well rounded proposal on MT4, MT5 and cTrader with extra tools like Correlation Matrix, Chart Trading, PAMM and MAM accounts.||Visit IC Markets site |
IC Markets Review
More on Islamic Forex Swap Free Accounts
To get started with Swap Free Brokers it is better to navigate categories and select broker that offer your trading need also available at your region. Here we answer some common question also compare Forex Broker Reviews.
List of Islamic Forex Broker USA
Among Best Islamic Forex Brokers US Brokers allowing open Islamic Forex account in USA including OANDA.
Islamic Brokers UK
There are many reputable brokers in UK offering swap free or Islamic accounts available upon request. Among them are FXTM, XM.
Swap free Forex brokers list Malaysia
Swap Free Forex Brokers or those Brokers that offer Swap-Free or Islamic accounts that are compliant to Sharia laws and use no adjustments to swaps or rollovers. There are many largest Forex Brokers in the world and Best Online Forex Brokers offering swap-account, check XM, FXTM, HotForex or IC Markets.
MT4 Swap Free Brokers
MT4 Brokers providing both popular MetaTrader4 platform or MT4 and Swap Free account trading including FXTM, GO Markets or HotForex.
Author of this review
By Jimmy O'Brien
Author of this review
Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.