简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract: Islamic forex broker account is designed to offer Muslims who want to trade forex. Most of the largest and most reputable brokers offer Islamic trading accounts. In today’s article, we list three different forex brokers (IC Markets, FXTM, FP Markets) that provide excellent Islamic accounts.
What is an Islamic account in forex trading?
An Islamic Forex Account is a Forex trading account that abides by Islamic law, known as the Sharia. According to Sharia law, Muslims are not allowed to earn interest in their giving. However, brokers can open an Islamic forex trading account where interest-free forex trading is made available. Today, many brokers around the world are keen to offer Islamic Forex accounts for those who want to comply with Sharia law.
Top brokers with Islamic forex trading account
IC Markets makes swap-free trading simple for clients, allowing you to change both Raw Spread and Standard account types to swap-free. This means that you can trade on MetaTrader 4 (MT4), MetaTrader 5 (MT5), Webtrader, and even the cTrader platform with an IC Markets Islamic trading account.
FXTM is considered a solid broker with high floating leverage and fast execution. To open an Islamic account with FXTM, you can open any account type (except one that uses MetaTrader 5 which is not eligible) as normal, and then just “enable swap-free mode” in the “accounts overview” section. The option is only available to residents of certain countries. Please note that you cannot trade exotic currencies in an FXTM Islamic account.
FP Markets offers two trading accounts. Standard accounts do not have commissions and spread starts at 1.0 pip, while RAW accounts use ECN pricing. Islamic RAW accounts offer the highest value. The spreads are the same as the RAW account with swaps, which means you are getting the most favorable spreads directly from liquidity providers.
There is another article about the Islamic forex trading account, you can click the link for more information. www.wikifx.com/en/newsdetail/202204156034929417.html
WikiFX lists the three Muslim-friendly forex brokers for you and you can determine which Islamic forex broker is the best one for you.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The Italian regulator, CONSOB has issued a warning against five websites offering unauthorized financial services. This regulatory action aims to protect the public from fraudulent activities.
A recent allegation against STP Trading has cast doubt on the firm's business practices, highlighting the potential risks faced by retail traders in an increasingly crowded and competitive market.
Cross-border payments are now faster, cheaper, and simpler! Explore fintech, blockchain, and smart solutions to overcome costs, delays, and global payment hurdles.
The UK Financial Conduct Authority (FCA) has issued a public warning regarding a fraudulent entity impersonating Admiral Markets, a legitimate and authorised trading firm. The clone firm, operating under the name Admiral EU Brokers and the domain Admiraleubrokerz.com, has been falsely presenting itself as an FCA-authorised business.