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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
Indonesia, Iran, Iraq
Malaysia, Maldives, Mauritania, Morocco
Niger, Nigeria
Pakistan, Palestine
Saudi Arabia, Somalia, Sudan, Syria
Tunisia, Turkey
Western Sahara


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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 →

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 →