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Alison Heyerdahl
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Alison Heyerdahl
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Alison Heyerdahl
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Chris Cammack
Partner Manager and Financial Writer

<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>

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Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. Clients can lose more than they deposit. All trading involves risk.

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Best Islamic Brokers in Zambia for 2025

Edited by
Author
Alison Heyerdahl
Edited by
Alison Heyerdahl
Head of Content
Learn more about Alison Heyerdahl
Chris Cammack
Author
Chris Cammack
Partner Manager and Financial Writer

<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>

Learn more about Chris Cammack

Most traders want an Islamic Forex account because they comply with the Shari’ah prohibition on Riba or the accumulation of interest. Some brokers try to compensate for the missed revenue that would otherwise have been generated by collecting interest, so we always look for limitations on trading opportunities, additional fees, and widened spreads. Otherwise, we focused on finding the best Islamic accounts for all types of traders, including a range of platforms, excellent trading tools and good education for beginners.

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.

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Best Islamic Brokers in Zambia for 2025

You can either use the arrow button or swipe on mobile

Official Site
Islamic Account
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Regulators
Compare
Visit Broker
75.3% of retail CFD accounts lose money
Yes
USD 0
30:1
90
Yes
Yes
Yes
FCA Regulated BrokersASIC Regulated Forex BrokersCySEC Regulated BrokersDubai Financial Services Authority
Bundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority
Visit Broker
72.90% of retail CFD accounts lose money
Yes
USD 0
2000:1
53
Yes
Yes
No
FCA Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services Commission
The Seychelles Financial Services AuthorityCapital Markets Authority
Visit Broker
76% of retail CFD accounts lose money
Yes
USD 100
30:1
63
Yes
Yes
No
ASIC Regulated Forex BrokersFSCA Regulated Forex BrokersCySEC Regulated BrokersFinancial Services Agency
Central Bank of IrelandFinancial Regulatory Services AuthorityIsrael Securities Authority
Visit Broker
71.67% of retail CFD accounts lose money
Yes
USD 3
Unlimited:1
100
Yes
Yes
No
FSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityCapital Markets AuthorityBritish Virgin Islands Financial Services Commission
Financial Services CommissionJordan Securities Commission
Visit Broker
70% of retail CFD accounts lose money
Yes
USD 0
30:1
80
Yes
No
No
FCA Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityFinancial Services Agency
Commodity Futures Trading AssociationFinancial Markets Authority of New ZealandBundesanstalt für FinanzdienstleistungsaufsichtBermuda Monetary Authority
Visit Broker
69.21% of retail CFD accounts lose money
Yes
USD 5
3000:1
72
Yes
Yes
No
ASIC Regulated Forex BrokersInternational Financial Services Commission
Visit Broker
70.81% of retail CFD accounts lose money
Yes
USD 200
30:1
64
Yes
Yes
Yes
CySEC Regulated BrokersThe Seychelles Financial Services AuthoritySecurities Commission of the BahamasCapital Markets Authority
Visit Broker
75.18% of retail CFD accounts lose money
Yes
USD 5
30:1
57
Yes
Yes
No
CySEC Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityInternational Financial Services Commission
Visit Broker
75% of retail CFD accounts lose money
Yes
USD 100
30:1
70
Yes
Yes
Yes
FCA Regulated BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services Authority
Securities Commission of the Bahamas
Visit Broker
77.41% of retail CFD accounts lose money
Yes
USD 10
1000:1
49
Yes
Yes
No
CySEC Regulated BrokersThe Seychelles Financial Services AuthorityFinancial Regulatory Services Authority
Pepperstone
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 0
Max. Leverage
30:1
Currency Pairs
90
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
Yes
Regulators
regulatorregulatorregulatorregulator
regulatorregulatorregulator
HFM
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 0
Max. Leverage
2000:1
Currency Pairs
53
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulator
AvaTrade
4.6
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 100
Max. Leverage
30:1
Currency Pairs
63
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulatorregulator
Exness
4.3
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 3
Max. Leverage
Unlimited:1
Currency Pairs
100
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulator
IG
4.7
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 0
Max. Leverage
30:1
Currency Pairs
80
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
No
cTrader
No
Regulators
regulatorregulatorregulatorregulator
regulatorregulatorregulatorregulatorregulatorregulatorregulator
FBS
4.3
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 5
Max. Leverage
3000:1
Currency Pairs
72
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
No
Regulators
regulatorregulator
IC Markets
4.5
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 200
Max. Leverage
30:1
Currency Pairs
64
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
Yes
Regulators
regulatorregulatorregulatorregulator
XM
4.5
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 5
Max. Leverage
30:1
Currency Pairs
57
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
No
Regulators
regulatorregulatorregulatorregulator
FxPro
4.4
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 100
Max. Leverage
30:1
Currency Pairs
70
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
Yes
Regulators
regulatorregulatorregulatorregulator
regulator
NAGA
4.1
Read Review

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. We never accept payment for higher scores, ensuring our ratings remain unbiased, factual, and trustworthy—so you can confidently choose a reliable broker for your financial safety and trading success.

For detailed information about our testing methodology click here.

Islamic Account
Yes
Min. Deposit
USD 10
Max. Leverage
1000:1
Currency Pairs
49
MetaTrader 4 (MT4)
Yes
MetaTrader 5 (MT5)
Yes
cTrader
No
Regulators
regulatorregulatorregulator
Find Your Ideal Forex Broker

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How Brokers Are Scored

FxScouts’ Broker Score and Trust Rating constantly evolve to reflect the forex market’s dynamics. We ensure transparency by incorporating regulator data and user insights. Our in-depth reviews consider over 200 metrics across seven key categories. The radar chart to the left shows how important each category is when calculating a broker’s final score.

  • Trust Rating: Assessment of broker reliability and reputation
  • Trading Costs: Spreads and fees for clear comparisons
  • Platforms: User-friendliness and features 
  • Asset Selection: Forex, stocks, and other available instruments
  • Deposit and Withdrawal: Simple and free deposits & withdrawals
  • Education: Support for beginners and developing traders
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Learn how we set the standard for broker reviews. Explore our in-depth review process here.

Pepperstone

Best For: Zambian Muslim scalpers and algorithmic traders seeking swap-free ECN execution

Pepperstone
4.61
75.3% of retail CFD accounts lose money

Min. Spread

0 pips

Regulation

CMA, BaFin, SCB, DFSA, ASIC, FCA, CySEC

Min. Deposit

USD 0

Platforms

Pepperstone Platform, TradingView, cTrader, MT5, MT4

Max Leverage

30:1

Why Pepperstone Stands Out

  • True swap‑free ECN access

    Pepperstone offers a genuine swap-free (Islamic) account with zero rollover interest for up to 5 days—ideal for short-term traders in Zambia.

  • Deep liquidity & fast execution

    Access to tier‑1 LPs via Equinix servers enables sub‑30ms fills even on swap‑free accounts.

  • No strategy restrictions

    Scalping, hedging, and EAs are fully allowed—great for algorithmic traders wanting freedom within Sharia rules.

  • Multi-platform support

    MT4/MT5, cTrader, TradingView—all accessible on swap‑free terms.

  • Transparent fees

    Administrative fee only kicks in on day 6 (≈$100/lot), making short-term trading cost-effective.

Why Pepperstone Falls Short

  • Geographic limit on Islamic eligibility

    Pepperstone’s Islamic account isn’t officially available to Zambian residents—requests may be declined.

  • Relatively high min deposit

    $200 entry barrier may deter budget-conscious traders.

Pepperstone | Best For: Zambian Muslim scalpers and algorithmic traders seeking swap-free ECN execution

Final Verdict: Is Pepperstone right for you?

Trade if:

  • You're a short-term scalper or EA trader avoiding swap costs
  • You need multi-platform flexibility under Sharia compliance

Consider Alternatives:

  • You want guaranteed Islamic eligibility in Zambia
  • You're a beginner preferring low minimum deposits
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 1.00 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone Group is regulated by the FCA, ASIC, and the DFSA.

HFM

Best For: Zambian novice traders seeking swap-free Islamic trading with flexible deposits

HFM
4.43
72.90% of retail CFD accounts lose money

Min. Spread

0.0 pips

Regulation

CMA, FSA-Seychelles, FSC, DFSA, FSCA, FCA

Min. Deposit

USD 0

Platforms

HFM Trading App, MT5, MT4

Max Leverage

2000:1

Why HFM Stands Out

  • No‑min‑deposit Islamic trading

    HFM’s Premium swap-free account lets you start Islamic trading with $0 deposit.

  • Competitive spreads, no commission

    Micro‑swap‑free spreads from ~1 pip with no added fees—great for entry‑level price-sensitive traders.

  • Local Zambia payment support

    Accepts Zambian bank transfers and e‑wallets, offering deposit convenience beyond international-only brokers.

  • Beginner education & 24/5 support

    MT4/MT5 platforms augmented with webinars, local hours, and account assistance tailored for African traders.

Why HFM Falls Short

  • Execution vary in volatility

    Swap‑free accounts may show slower fills during high market movement—less ideal for scalpers.

  • No ECN/raw option on swap‑free

    Only Micro/Premium available; no Razor/raw spreads for advanced traders.

HFM | Best For: Zambian novice traders seeking swap-free Islamic trading with flexible deposits

Final Verdict: Is HFM right for you?

Trade if:

  • You are starting Islamic trading with low capital
  • You value local deposit and educational resources

Consider Alternatives:

  • You need tight ECN-level execution for scalping
  • You prefer ECN account types like Pepperstone or IC Markets
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 2000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

AvaTrade

Best For: Zambian Muslim traders wanting Sharia-compliant CFDs with multi-asset exposure

AvaTrade
4.59
76% of retail CFD accounts lose money

Min. Spread

0.9 pips

Regulation

ISA, FRSA, CBI, FSA-Japan, FSCA, ASIC, CySEC

Min. Deposit

USD 100

Platforms

AvaOptions, Avatrade Social, MT5, MT4

Max Leverage

30:1

Why AvaTrade Stands Out

  • Sharia‑approved CFD access

    AvaTrade offers swap-free accounts on Forex, metals, indices, oil & stocks—broader halal asset range.

  • Straightforward setup

    Request Islamic account post-funding; active within 1–2 business days.

  • Wide regulation & investor protection

    Regulated by 9 authorities including ASIC, FSCA, FSA; negative balance protection included.

  • No-interest but transparent CFD structure

    Halal stocks and metals CFDs backed by physical assets—more acceptable under Sharia interpretations.

Why AvaTrade Falls Short

  • $100 minimum deposit

    More than HFM/Exness, less than Pepperstone—mid-range for Zambian traders.

  • Swap fee for positions held beyond 5 days

    Islamic accounts incur swaps if positions held beyond 5 days—monitor rollover length closely.

AvaTrade | Best For: Zambian Muslim traders wanting Sharia-compliant CFDs with multi-asset exposure

Final Verdict: Is AvaTrade right for you?

Trade if:

  • You want halal CFDs on metals and indices
  • You prefer a regulated multi-asset broker

Consider Alternatives:

  • You need raw spreads for scalping/EAs
  • You’re a high-frequency trader needing ultra-fast fills
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 0.90 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

Exness

Best For: Zambian Muslim pro traders seeking unlimited leverage and raw fees with full swap-free access

Exness
4.32
71.67% of retail CFD accounts lose money

Min. Spread

0.1 pips

Regulation

JSC, CMA, FSA-Seychelles, FSC, B.V.I FSC, FSCA

Min. Deposit

USD 3

Platforms

Exness Terminal, MT5, MT4

Max Leverage

Unlimited:1

Why Exness Stands Out

  • Default swap-free status

    All accounts are automatically swap‑free for those in Islamic countries—no request needed.

  • No admin fees or widened spreads

    Unlike others, Exness doesn’t add hidden fees to offset swap-free—genuine cost transparency.

  • Raw spreads from 0.0 + $0.10 commission

    Extremely low costs—ideal for high-frequency trading under Sharia compliance.

  • Unlimited leverage & multi-currency accounts

    Leverage up to unlimited, and multiple base currencies—pro-grade flexibility.

  • Fast local payments

    Zambian traders benefit from instant crypto and local e-finance withdrawals.

Why Exness Falls Short

  • Swap‑free status can be revoked

    Auto-revoked for ‘overnight-heavy’ traders; must maintain intra-day focus.

  • Not ideal for beginners

    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

Final Verdict: Is Exness right for you?

Trade if:

  • You’re a pro trader using bots or scalping
  • You want ultra-low, transparent Islamic trading costs

Consider Alternatives:

  • You’re new and prefer simplicity with guidance
  • You need guaranteed Islamic eligibility without country reliance
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage Unlimited:1. Islamic account available. MT4, MT5, Exness web trader platforms supported. Exness is regulated by CySEC, FCA, and the FSC.

IG

Best For: Zambian investors seeking long-term CFDs and shares (but not ideal for Islamic forex)

IG
4.69
70% of retail CFD accounts lose money

Min. Spread

0.6 pips

Regulation

BMA, CFTC, FINMA, FMA, BaFin, MAS, DFSA, FSA-Japan, FSCA, ASIC, FCA

Min. Deposit

USD 0

Platforms

L2 Dealer, ProRealTime, MT4

Max Leverage

30:1

Why IG Stands Out

  • Robust Investment Offering

    Access to 13,000+ global shares, ETFs, and indices makes IG ideal for Sharia-conscious investors seeking equity exposure.

  • Institutional-Grade Research Tools

    Includes in-depth market analysis, real-time data, and advanced charting—valuable for strategic decision-making.

  • FCA-Regulated with Strong Reputation

    Backed by over 45 years of financial services experience and trusted oversight—ensuring client fund safety.

Why IG Falls Short

  • No Swap-Free Forex Accounts

    IG does not currently offer Islamic (swap-free) forex trading, limiting its appeal to Muslim traders focused on FX markets.

  • Not Optimized for Short-Term Trading

    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)

Final Verdict: Is IG right for you?

Trade if:

  • You want to invest in halal shares and ETFs over the long term
  • You prioritize research, analysis, and platform quality

Consider Alternatives:

  • You need Sharia-compliant forex trading with no swap charges
  • You trade short-term or intraday with low-cost objectives
Visit Broker
Accepts Zambian Clients. Average spread EUR/USD 0.85 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4, ProRealTime and L2 Dealer platforms supported. IG Markets Group is regulated by FCA, ASIC, and the FSCA.
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Islamic Forex Trading

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.

Islam also emphasises that uncertainty, excessive speculation, and gambling should be avoided when conducting business transactions, so it could be argued that hedging trades with Forex is also legitimate under Shari’ah. It is also widely agreed that conventional Forex transactions—if used carefully—are a very effective means of protecting banks from exposure to international risk.

Shared Risk

Another concern about the Islamic nature of Forex trading is the element of shared risk. Luckily, with Forex trading, when you trade, you are investing in an asset – the currency purchased. If this asset increases in value, you will make a profit, and if the asset loses value, you will make a loss. The result is a sharing of the benefits and losses of the currency exchange with your counterparty. From this point of view, Forex trading and Islam are compatible in terms of shared risk.

"Riba is central to conventional Forex trading, but according to Islamic law, Muslims are banned from earning interest on loans."

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What Is an Islamic Forex Account?

An Islamic Forex account is a halal Forex account which complies with the Shari’ah prohibition on Riba or the accumulation of interest. 

Islamic Forex accounts will not charge interest on open positions held overnight.

Across the Islamic world, many brokers offer Shari’ah-compliant accounts to make sure that your trading is not haram – though this does mean that there are a few differences when compared to traditional Forex accounts.

Islamic Forex accounts have two underlying attributes:

  • Free swap rates
  • No interest rate payments – or no Riba.

Other than the above, Islamic Forex accounts usually have the same trading terms and conditions as regular Forex accounts. However, some most Forex brokers change the commercial terms of trading with them and might limit the trader from trading cryptocurrencies. 

Some Forex brokers will widen their spreads on Islamic accounts to compensate for the missed revenue that would otherwise have been generated by collecting interest. Another practice, but is far rarer, is that some Forex brokers charge an up-front commission on trades instead of widening the spreads.

Forex Rollovers and Swap Rates Explained

In the Forex market, any position held overnight generates a rollover which will be earned or paid out depending on the currency you are trading and the direction of the market. Rollover interest is a form of interest that can be credited or debited from your Forex trading account, and thus it is prohibited by Islamic financial regulations. In the financial world, this rollover is also known as the swap rate. So, Islamic Forex accounts are swap-free accounts where no overnight interest is credited or debited.

Forex Brokers with Islamic Swap-free Accounts

There are a variety of brokers that offer Islamic accounts tailored for Muslim traders. This account type usually has no limitations, which means you can trade Forex, commodities, CFDs contracts, and every financial instrument that complies with Islamic financial regulations.

An important note: With most Forex brokers, you must open a real trading account, which can then be converted into an Islamic account. Few brokers have a registration page specifically for Islamic accounts, and even fewer have Islamic demo accounts, but some brokers with clients from predominantly Muslim countries automatically create accounts as Islamic accounts.

If you are in doubt, make sure you discuss your concerns with your account manager or broker representative before you make a deposit.

"Some Forex brokers will widen their spreads on Islamic accounts to compensate for the missed revenue that would otherwise have been generated by collecting interest."

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Islamic Financial Regulatory Bodies

Forex brokers registered in Muslim-majority countries often have to comply with many local regulations and are required to follow Shari’ah law.

The central financial regulatory bodies in the Islamic world are the following:

An Islamic Forex account, or swap-free account, is an optional account type that is often selected after signing up with a broker. They are intended for use by traders of the Islamic faith, which prohibits generating income from interest payments. Most Forex brokers can accommodate followers of the Islamic faith by offering swap-free trading accounts that are compliant with Shari’ah law.

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.

"With most Forex brokers, you must open a real trading account, which can then be converted into an Islamic account."

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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.

Meet the Experts Behind Our Unbiased Reviews

Chris Cammack

Partner Manager and Financial Writer

Chris Cammack

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.

Alison Heyerdahl

Head of Content

Alison Heyerdahl

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.

Ida Hermansen

Financial Writer

Ida Hermansen

Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.

Stefan de Clerk

Financial Writer

Stefan de Clerk
The newest member of our team, Stefan has a degree in Marketing and more than a decade of experience writing quality content in both finance and tech. Stefan's deep fascination with how factors like geopolitical events, big data and market sentiment influence the financial markets drives his passion for Forex trading. He believes that if you want to feel the pulse of the world economy, trade Forex, and if you want to trade Forex, you need well-researched, unbiased and objective information.

                

Learn, Trade, Succeed

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Our education section provides easy-to-follow resources that guide you through the fundamentals of Forex trading, risk management, technical and fundamental analysis, and more.
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