Islamic Forex Brokers List | Forex Beginning - Forex for beginners

Islamic Forex Brokers

Islamic forex brokers allow traders to open trading accounts that have no rollover/swap fees (overnight interest) applied to them. Islam forbids usury (ribaa, in Arabic), which is the charging of interest on money lent to somebody. Islamic brokers are, obviously, of most interest to forex traders from Middle Eastern countries such as the UAE, Saudi Arabia, Iran and others, but anybody, regardless of his or her religion, can open an Islamic trading account.

Here are some Islamic forex brokers:

Forex Broker Regulated Min deposit Leverage
yes $100 up to 1:400
no $1 1:500
yes $25 1:200
yes $10,000 1:100
yes $1 1:400
yes £250 1:400
yes $100 1:300

Other Islamic (Muslim-friendly) Forex Brokers

Minimum account size: $2,500. Minimum position size is set at 0.1 (1 minilot, not microlot). Max leverage 1:50 - good for more conservative traders with experience.  
Minimum account size: $500. Minimum position size: 0.01 (1 microlot) Maximum leverage: 1:500 (That's too much for most traders, especially the newbies.)  
Minimum account size: $500. Minimum position size is 0.1 (1 minilot, 10 microlots). Maximum leverage is as high as 1:500.  
Minimum account size: $2,000. Minimum position size is 0.05 and the max leverage is 1:200. Professional proprietary trading platform.  
Min account size: $300. Min position size: 0.01. Max. leverage: 1:200.