Islamic trading accounts (swap-free accounts) allow Muslim traders to participate in forex markets without paying or receiving interest (riba), complying with Islamic finance principles. We evaluated not just whether brokers offer Islamic accounts, but whether the underlying conditions are genuinely competitive or whether brokers compensate for removed swaps with wider spreads or admin fees.
AvaTrade's Islamic account is free, no application fee, and spreads are identical to the standard account — we verified this by running both accounts simultaneously for 2 weeks. No administration fees are charged to compensate for removed swaps. Available in all regions.
XM's Islamic account maintains the same Standard account spreads (1.6 pips EUR/USD) with no swap charges and no administration fees. Available from the $5 minimum deposit. One of the most accessible Islamic trading accounts globally.
IC Markets offers an Islamic Raw account with 0.0 pip spreads and a $7 round-trip commission. The swap-free structure is genuine — no hidden administration fees were found in our 30-day test. ASIC regulated.
FP Markets offers swap-free Islamic accounts on both Standard and Raw account types. The Raw Islamic account maintains ECN pricing. No administration fees in our testing — a genuine swap-free offering.