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Forex Brokers with Swap-free Account

Forex brokers with rollover-free (swap-free) accounts

  • Most forex brokers offer Islamic accounts(swap-free accounts/rollover-free accounts)with which traders with islamic faith won’t receive or pay overnight interest, because giving or receiving interest is not allowed under Sharia Islamic law. (Note: Rollover can either be negative (you have to pay) or positive (you get paid)).
  • With rollover-free (swap-free)account, forex brokers will choose to charge traders a small daily service fee for positions held overnight or make the spreads on all currency pairs a bit higher.

An approximate list of countries whose residents can apply for Islamic accounts(swap-free accounts):

Afghanistan, Albania, Algeria,
Bahrein, Bangladesh, Brunei
Comoro Islands
Djibouti
Egypt
Indonesia, Iran, Iraq
Jordan
Kuwait
Libya
Malaysia, Maldives, Mauritania, Morocco
Niger, Nigeria
Oman
Pakistan, Palestine
Qatar
Saudi Arabia, Somalia, Sudan, Syria
Tunisia, Turkey
UAE
Western Sahara
Yemen

InstaForex

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Company: InstaTrade LLC; InstaTrade Investment Company Ltd.   Warning:January 13, 2015:  French AMF published a updated list of forex brokers that offer forex trading service in France without authorisation of AMF.  InstaForex is on the list.   June 9, 2014:  The Ontario Securities Commission warned against InstaForex, because  instaforex “is not registered to engage in the business of (i) trading in securities or (ii) […] Continue Reading →

TradingBanks

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Company: Grizzly Limited Warning: This Broker is not regulated . DECEMBER 1, 2015 · Belize’s IFSC warns against unauthorized Forex broker TradingBanksWARNING NOTICE AND CEASE AND DESIST ORDER  TradingBanks It has come to the notice of the International Financial Services Commission of Belize (IFSC) that an entity calling itself“TradingBanks” claims to be a brand owned and operated by one of our […] Continue Reading →

Dukascopy Bank SA

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Company: Dukascopy Trading Technologies Corp. Note: Dukascopy Bank SA (In Switzerland) is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities dealer.   Dukascopy Europe(in Latvia) is not regulated as a bank or a securities dealer  and is not regulated by FINMA.    Continue Reading →