- Find the best broker for your trading needs
- Compare spreads, fees, and platforms
- Read in-depth reviews and analysis
Page Navigation
Select a different country or region to view content tailored to your location.
FxScouts helps traders across the globe by meticulously testing and reviewing online brokers and providing Forex education and market analysis. Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content. Our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. For more detailed information click this link.
<p>Chris manages the relationships with our partners to provide our users with the best Forex trading experience possible. Chris has 15+ years of experience in research, editorial and design for political and financial publications. His background has given him a deep understanding of international financial markets and the geopolitics that affect them.</p>
Forex trading is growing in popularity among Muslim traders, but it presents unique challenges under Islamic law. Conventional trading accounts apply overnight interest (known as swap fees), which directly conflicts with the Shari’ah prohibition on riba (interest). In response, many brokers now offer swap-free Islamic accounts designed to support halal trading.
This guide helps Muslim traders identify brokers that offer legitimate Islamic trading conditions—free from interest, transparent in fee structures, and fully aligned with the principles of Islamic finance.
Trusted. Transparent. Tested.
For over a decade, we’ve set the standard in forex broker reviews—collecting thousands of data points yearly to deliver unbiased, expert-backed insights.
Skip the trial and error! Below, you’ll find the best forex brokers for Zambian traders for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence.
You can either use the arrow button or swipe on mobile
Broker | Official Site | Islamic Account | MetaTrader 4 (MT4) | MetaTrader 5 (MT5) | cTrader | Regulators | Compare | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
 | Yes | USD 0 | 30:1 | 90 | Yes | Yes | Yes |        | |||
 | Yes | USD 0 | 2000:1 | 53 | Yes | Yes | No |    | |||
 | Yes | USD 100 | 30:1 | 63 | Yes | Yes | No |     | |||
 | Yes | USD 3 | Unlimited:1 | 100 | Yes | Yes | No |   | |||
 | Yes | USD 0 | 30:1 | 80 | Yes | No | No |    | |||
 | Yes | USD 5 | 3000:1 | 72 | Yes | Yes | No |  | |||
 | Yes | USD 200 | 30:1 | 64 | Yes | Yes | Yes | | |||
 | Yes | USD 5 | 30:1 | 57 | Yes | Yes | No | | |||
 | Yes | USD 100 | 30:1 | 70 | Yes | Yes | Yes | | |||
 | Yes | USD 10 | 1000:1 | 49 | Yes | Yes | No | |
Select another broker to another broker to compare features, fees, and platforms side by side.
Find Your Ideal Forex Broker
Select another broker to another broker to compare features, fees, and platforms side by side.
0 pips
CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC
USD 0
Pepperstone Platform, TradingView, cTrader, MT5, MT4
30:1
Pepperstone offers a genuine swap-free (Islamic) account with zero rollover interest for up to 5 days—ideal for short-term traders in Zambia.
Access to tier‑1 LPs via Equinix servers enables sub-30ms fills even on swap-free accounts.
Scalping, hedging, and EAs are fully permitted—great for algorithmic traders seeking freedom within Shariah rules.
MT4/MT5, cTrader, and TradingView—all accessible on swap-free terms.
The administrative fee only kicks in on day 6 (≈approximately $100 per lot), making short-term trading cost-effective.
Pepperstone’s Islamic account isn’t officially available to Zambian residents—requests may be declined.
The commission varies depending on your chosen base currency or trading platform
Pepperstone | Best For: Zambian Muslim scalpers and algorithmic traders seeking swap-free ECN execution
FxScouts
YouTube
Select another broker to another broker to compare features, fees, and platforms side by side.
0.0 pips
CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA
USD 0
HFM Trading App, MT5, MT4
2000:1
HFM’s Premium swap-free account lets you start Islamic trading with $0 deposit.
Micro-swap-free spreads from ~1 pip with no added fees—great for entry-level price-sensitive traders.
Accepts Zambian bank transfers and e-wallets, offering deposit convenience beyond international-only brokers.
MT4/MT5 platforms enhanced with webinars, local hours, and account assistance specifically designed for African traders.
Swap-free accounts may exhibit slower fills during periods of high market volatility—less ideal for scalpers.
Only Micro/Premium is available; no Razor/raw spreads for advanced traders.
HFM | Best For: Zambian novice traders seeking swap-free Islamic trading with flexible deposits
FxScouts
YouTube
Select another broker to another broker to compare features, fees, and platforms side by side.
0.9 pips
ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC
USD 100
AvaOptions, Avatrade Social, MT5, MT4
30:1
AvaTrade offers swap-free accounts on Forex, metals, indices, oil & stocks—a broader halal asset range.
Request an Islamic account post-funding; active within 1–2 business days.
Regulated by nine authorities, including ASIC, FSCA, and the FSA, negative balance protection is included.
Halal stocks and metals CFDs backed by physical assets—more acceptable under Sharia interpretations.
More than HFM/Exness, less than Pepperstone—mid-range for Zambian traders.
Islamic accounts incur swaps if positions are held beyond 5 days—monitor rollover length closely.
AvaTrade | Best For: Zambian Muslim traders wanting Sharia-compliant CFDs with multi-asset exposure
FxScouts
YouTube
Select another broker to another broker to compare features, fees, and platforms side by side.
0.1 pips
JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA
USD 3
Exness Terminal, MT5, MT4
Unlimited:1
All accounts are automatically swap-free for those in Islamic countries—no request needed.
Unlike others, Exness doesn’t add hidden fees to offset swap-free, genuine cost transparency.
Extremely low costs—ideal for high-frequency trading under Sharia compliance.
Leverage up to unlimited, and multiple base currencies—pro-grade flexibility.
Zambian traders benefit from instant crypto and local e-finance withdrawals.
Auto-revoked for ‘overnight-heavy’ traders; must maintain intraday focus.
Platform and leverage settings may overwhelm new users; no Islamic educational tools.
Exness | Best For: Zambian Muslim pro traders seeking unlimited leverage and raw fees with full swap-free access
FxScouts
YouTube
Select another broker to another broker to compare features, fees, and platforms side by side.
0.6 pips
BMA, CFTC, FINMA, FMA, BaFin, MAS, DFSA, FSA-Japan, FSCA, ASIC, FCA
USD 0
TradingView, L2 Dealer, MT4
30:1
Access to 17,000+ global shares, ETFs, and indices makes IG ideal for Sharia-conscious investors seeking equity exposure.
Includes in-depth market analysis, real-time data, and advanced charting—valuable for strategic decision-making.
Backed by over 45 years of financial services experience and trusted oversight, ensuring client fund safety.
IG does not currently offer Islamic (swap-free) forex trading, which limits its appeal to Muslim traders focused on the FX markets.
Higher minimums and holding costs make it less suitable for frequent traders or scalpers.
IG | Best For: Zambian investors seeking long-term CFDs and shares (but not ideal for Islamic forex)
FxScouts
YouTube
Select another broker to another broker to compare features, fees, and platforms side by side.
Riba is central to conventional Forex trading, but according to Islamic law, or Shari’ah law, Muslims are banned from earning interest on loans. Some scholars believe that the practice of removing Riba, as brokers do on their Islamic Forex accounts, legitimises Forex trading under Shariʻah.
An Islamic Forex account is a swap-free trading account that does not charge or pay interest on overnight positions. It is designed to comply with Shari’ah by removing riba and promoting shared risk between the trader and broker.
Key Features of an Islamic Account:
Forex trading is considered halal when it adheres to Islamic finance principles. Trading becomes haram if it involves interest, gambling, or unjust risk. A halal trading setup uses a swap-free account, operates transparently, and avoids speculation without analysis. Trading must involve clear contract terms and fair profit/loss sharing.
Understanding the key principles of Islamic finance helps explain why certain account conditions are required:
Riba (Interest): Riba means ‘interest’ and is prohibited. Traders cannot receive or pay interest on trades.
Gharar (Uncertainty): Excessive speculation or vague contracts are not permitted. Traders should make informed decisions based on analysis.
Maysir (Gambling): Trading must not involve random or chance-based outcomes. Strategy and risk management are essential.
Shared Risk: Shared risk means that when you trade using an Islamic account, you can make money or lose money based on how the market moves — no one promises a profit, and you take the risk yourself, which is fair and allowed in Islam.
Islamic accounts allow Muslim traders to access the global financial markets without compromising their religious beliefs. Standard accounts charge overnight interest (swaps), which is considered riba and is prohibited. Islamic accounts remove this, providing a structure that aligns with Shari’ah. They also support responsible risk-taking and ethical investing.
No interest is charged or credited on overnight trades.
Islamic accounts should offer the same instruments, platforms, and execution conditions as regular accounts.
Some brokers charge an admin fee to offset the absence of swaps. This fee must be fixed, clearly disclosed, and unrelated to interest.
A compliant Islamic account does not restrict access to specific instruments or trading styles unless this is clearly communicated.
We only recommend Islamic Forex accounts that meet strict criteria for transparency, regulation, and fair trading conditions. Our evaluation is based on the following factors:
Each broker we feature has been tested and reviewed by our team. We use live or demo accounts and verify published conditions against the actual account experience.
A legitimate Islamic account should:
Some brokers automatically assign Islamic status based on your location. Others require a manual request or declaration.
In standard Forex accounts, trades held overnight generate a rollover fee (or a swap fee). This fee reflects the interest rate difference between currencies and is considered riba. Islamic accounts remove this. Some brokers may apply:
These adjustments must be fixed, disclosed, and not interest-based.
Forex brokers registered in Muslim-majority countries often have to comply with many local regulations and are required to follow Shari’ah law, whereas Western Forex brokers have much more flexibility when it comes to the interest charged to their clients. This is why only some brokers offer this account type.
The central financial regulatory bodies in the Islamic world are the following:
This section addresses the most frequently asked questions from Muslim traders regarding halal trading, swap-free accounts, fees, leverage, and selecting a broker that adheres to Islamic principles.
Forex trading is halal if it avoids riba, gharar, and maysir. Islamic accounts are designed to meet these conditions.
Some brokers charge admin fees or widen spreads. These must be disclosed and must not be based on interest.
Yes, but only if there is no interest involved. Leverage should be used with proper risk management.
They should. Brokers should not limit tools, instruments, or platforms on Islamic accounts.
Most brokers do not offer Islamic demo accounts, but you can test a regular demo and request Islamic status on your live account.
Yes. Some brokers impose time limits or may revoke the status if the terms are abused. Always check before you trade.
Look for clear documentation, transparent fees, and no interest. Avoid brokers with vague or temporary swap-free options. If in doubt, ask.
No. Fees, swap-free duration, and available instruments vary. Always compare before choosing.
Explore more resources that fellow traders find helpful! Check out these other guides to enhance your forex trading knowledge and skills. Whether you’re searching for the best brokers, educational material, or something more specific, we’ve got you covered.
Discover the top Forex brokers in Zambia. Compare top platforms, fees and features to make an informed trading choice.
Compare the best Forex trading platforms for 2025, including MT4, MT5, cTrader, and TradingView. Find the right tools to enhance your trading experience.
What is Forex trading and how does it work? An easy-to-read guide including how to trade, and how to choose a reliable broker.
60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
Partner Manager and Financial Writer
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education.
With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users.
He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.
Head of Content
Alison joined the team as a writer in 2021. She is the Head of Content for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in Forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 120 Forex brokers.
Financial Writer
Welcome to the FxScouts community! We’re thrilled to have you on board. You’ve successfully signed up for our forex newsletter, where you’ll receive expert insights, market analysis, and the latest news straight to your inbox.
Get ready to stay ahead of the curve with our regular updates designed to help you make informed trading decisions.
Happy trading!
The FxScouts Team