CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Compare Brokers With Islamic Accounts

For our islamic accounts comparison, we found 14 brokers that are suitable and accept traders from United States of America.

We found 14 broker accounts (out of 147) that are suitable for Islamic Accounts .

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Forex.com

Spreads From

Gold N/A points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies*
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Forex.com

  • Regulated by: Financial Conduct Authority.
  • Established in 1999 HQ in United States.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

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79% of retail investor accounts lose money when trading CFDs with this provider

Read our in-depth Forex.com review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data. *Availability subject to regulation.

The Ultimate Guide to

Islamic Trading Accounts

What is an Islamic trading account?

Also known as a “swap free” account, Islamic accounts have a number of differences from regular forex trading accounts. With Sharia Law forbidding the accrual of interest on funds deposited in an account, traders with Islamic Accounts do not incur or receive rollover swap points on positions open for longer than 24 hours, and they earn no interest on deposited funds. Also, Islamic Account trades must be made with no delay, so currencies must be transferred from one account to another immediately, with transaction costs also paid at the same time.

Who is an Islamic trading account for?

Regular forex trading accounts charge interest on certain trades, which can be a problem for some traders as making money from money, or Riba, is not permissible under Sharia law. Additionally, in Islam Gharar, or gambling, is also not permitted. Gharar can refer to the volatile conditions in the forex market which make it difficult to predict with certainty what is likely to happen, and can therefore be considered akin to gambling.

What types of trades are not allowed in Islamic accounts?

These common forex trends are not generally permitted within Islamic trading accounts:

  • Riba – interest that is charged from the buyer under different conditions.
  • Pledge – a signed commitment agreeing to pay back a loan within a limited time, with the agent permitted to sell out the contract and recover the loan if the customer is unable to reach the specific percentage of the margin.
  • Loans – money given by an agent (bank) to the customer on some settled terms of interest.
  • Short selling – borrowing and selling an asset the trader does not own for profit.
  • Trading on margin – borrowing money from a broker to purchase stock.
  • Forwards sales – an agreement to buy or sell an asset at a future time on a price agreed today.

How can I open an Islamic account?

Opening an Islamic forex account is now easier than ever. With the Islamic banking sector as growing by an average of 19.7% a year, there is now an increasing number of brokers offering Islamic forex account services. The accounts are designed in the support of all the Islamic rulings on business and investments.

Why Choose Forex.com
For Islamic Accounts?

Forex.com scored best in our review of the top brokers for islamic accounts , which takes into account 120+ factors across eight categories. Here are some areas where Forex.com scored highly in:

  • 19 + years in business
  • Offers 300 + instruments
  • A range of platform inc. MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.00pips
  • Used by 0 + traders.
  • Offers demo account
  • 1 languages

Forex.com offers one way to tradeForex . If you wanted to trade GOLD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Forex.com have a AAA trust score . This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19

Trust Score comparison

Forex.com
Trust Score AAA
Established in 1999
Regulated by Financial Conduct Authority
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of Forex.com


Want to see how Forex.com? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Forex.com
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.00
GBP/USD Spread 0.9
Gold spreads from 0.3
Silver spreads from 0.61
Copper spreads from 7.0
Crude Oil spreads from 5.0
Natural gas spreads from 8.0
DAX Spread 250.0
FTSE 100 Spread 150.0
S&P500 Spread 50.0

Comparison of account & trading features

Forex.com
Platform MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
Services Forex
Base currency options USD, GBP, EUR
Funding options Bank transfer, Cheque, DebitCard,
Micro account
ECN account