Top 8 of the Best Islamic Forex Brokers UK for 2019

by | May 7, 2019

Are you looking for the best UK forex broker for Islamic accounts because you want to adhere to Islamic teachings while trading?

We can help you.

While several of the top UK brokers offer Islamic accounts, many are still new to this concept and they may not completely comprehend its purpose and what features define one.

Further to that, you also want to look out for additional features your broker can offer you that others cannot. Don’t just sign up to the first UK forex broker that offers Islamic accounts, explore the options available to you.

That’s why we made this list.

broker forex uk conto islamico

Top 8 of thet Best Islamic Forex Brokers UK for 2019

Here’s our ranking:

  • Regulations: SCB, FCA, FSB, CySEC, DFSA
  • Minimum deposit: $500
  • Platforms: MT4, MT5, cTrader
  • IG rank: 4.5/5


79% of retail CFD accounts lose money

1. FxPro

FxPro by far offers the best Islamic/swap free account for forex traders to date. An Islamic account can easily be activated with FxPro by making a request to their back office ([email protected]), making the process as simple as possible. FxPro is also known to be one of the most innovative of all UK brokers, known to adopt new technological advancements, such as cTrader earlier than most. FxPro is also highly regulated internationally and was awarded ‘Most Trusted Forex Brand UK’ by Global Brands Magazine in 2017.

  • Regulations: FxPro UK Limited authorised & regulated by the FCA (509956); FxPro Global Markets MENA Limited authorised & regulated by the DFSA (F003333); FxPro Financial Services Ltd authorised & regulated by CySEC (078/07) and the FSCA (45052); FxPro Global Markets Ltd authorised & regulated by the SCB (SIA-F184). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Agency
  • Leverage: 1:500
  • Minimum Deposit: $100, however, clients under the DFSA will need to deposit $500
  • Platforms: MT4, MT5, cTrader, FxPro Edge (web platform)
  • Headquarters: FxPro Group Limited is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on futures, indices, shares, metals, energies; spread betting
Try FXPRO with a demo account

79% of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader,cAlgo
  • InvestinGoal rank: 4.8/5


78% of retail CFD accounts lose money

2. Pepperstone

Coming in at a close second place is the legendary Pepperstone. Pepperstone tops this list for similar reasons to FxPro, primarily for being easy to set up an Islamic/swap free account, the high-quality trading apparatus they offer, such as cTrader, and the deep liquidity they provide. Pepperstone was also awarded ‘Best Forex ECN Broker’ by the UK Forex Awards for 2018.

  • Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, Market Maker
  • Leverage: 1:500
  • Minimum Deposit: $ 200
  • Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
  • Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, cryptocurrency
Try PEPPERSTONE with a demo account

78% of retail CFD accounts lose money

  • Regulations: CySec, FCA, ASIC
  • Minimum deposit: $200
  • Platforms: Proprietary
  • InvestinGoal rank: 4.5/5

76% of retail CFD accounts lose money

3. eToro

eToro is another highly exceptional choice for setting up an Islamic account. After setting up a standard account, you can request that the account is changed to Islamic account and you will need to send the correct documents to eToro to support this. Please ensure you contact eToro beforehand to ensure you know which documents to send. After your request has been accepted, your Islamic account will be activated.

  • Regulations: eToro (Europe) Ltd. authorised & regulated by CySEC (# 109/10); Toro (UK) Ltd authorised & regulated by the FCA (583263); eToro AUS Capital Pty Ltd. authorised by ASIC (491139). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:400
  • Minimum Deposit: Ranges between $200 to $10,000 depending on the region
  • Platforms: Webtrader, mobile (iOS and Android)
  • Headquarters: eToro (Europe) Ltd. is headquartered in Limassol, Cyprus
  • US Customers: Yes, but US clients may have significant limitations. US customers will need to deposit a minimum of $10,000
  • Other instruments: CFDs on indices, stocks, ETFs, commodities, bonds; cryptocurrency
Try ETORO with a demo account

76% of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $250
  • Platforms: MT4, Trade Interceptor
  • InvestinGoal rank: 3.7/5


72.88% of retail CFD accounts lose money

4. ThinkMarkets

Setting up an Islamic account with ThinkMarkets is also incredibly simple. All you need to do is open a ThinkMarkets live account, send an email to change your account to an Islamic account to ThinkMarkets’ support services ([email protected]) and then fund your account. ThinkMarkets was also awarded the ‘Best Forex Trading Experience’ and ‘Best Forex Trading Innovation’ by the UK Forex Awards 2017.

  • Regulations: TF Global Markets (UK) Limited is authorised & regulated by the FCA (629628); TF Global Markets (Aust) Pty Ltd licensed by ASIC (424700). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP
  • Leverage: 1:400
  • Minimum Deposit: $ 250
  • Platforms: MT4, Trade Interceptor
  • Headquarters: ThinkMarkets Group is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on shares, indices, metals, energies, cryptocurrency

72.88% of retail CFD accounts lose money

  • Regulations: FCA, ASIC
  • Minimum deposit: $1
  • Platforms: MT4, MT5, WebTrader
  • InvestinGoal rank: 3.5/5


74-89% of retail CFD accounts lose money

5. FXOpen

FXOpen is not just a great option for an Islamic account, they’re an ideal choice for any trader, being one of the first brokers to offer ECN trading via MT4. Currently, traders can open an Islamic account with their ECN, STP or Micro account, giving traders a great deal of flexibility and choice on what they trade and how they trade it.

  • Regulations: FXOpen Markets Limited is a member of The Financial Commission. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: $ 1
  • Platforms: MT4 (Windows, iOS, Android), MT5 (Windows, iOS, Android), Web platform, Myfxbook, ZuluTrade
  • Headquarters: FXOpen Markets Limited is headquartered in Charlestown, Saint Kitts and Nevis
  • US Customers: No
  • Other instruments: CFDs on indices, gold and silver, oil, natural gas, cryptocurrency
Try FXOPEN with a demo account

74-89% of retail CFD accounts lose money

  • Regulations: FCA
  • Minimum deposit: $100
  • Platforms: ActiveTrader, MT4, MT5/li>
  • InvestinGoal rank: 4/5


71% of retail CFD accounts lose money

6. ActivTrades

ActivTrades is known as a broker with a great deal of reach around the world with offices in several countries. They also offer an excellent range of tools and indicators to improve your trades as well. On top of that, ActivTrades is also an option for those who want to be able to decide what terms they want to have for their Islamic/swap free account too.

  • Regulations: ActivTrades PLC is authorised & regulated by the FCA (434413) and the DSFA (2309); ActivTrades Corp is authorised & regulated by The Securities Commission of the Bahamas (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP, Market Maker, DMA
  • Leverage: Clients registered under ESMA regulation can access 1:30 leverage, while other retail traders can leverage up to 1:400
  • Minimum Deposit: No minimum deposit required
  • Platforms: ActivTrader, MT4, MT5
  • Headquarters: ActivTrades PLC is headquartered in London, UK
  • US Customers: No
  • Other instruments: Options; ETFs; CFDs on indices, international shares, commodities, bonds; spread betting (for UK-based clients) on forex, commodities, stocks, shares
Try ACTIV TRADES with a demo account

71% of retail CFD accounts lose money

  • Regulations: FCA in the United Kingdom
  • Minimum deposit: NO
  • Platforms: LCG Trader, MT4
  • InvestinGoal rank: 4.5/5


79% of retail CFD accounts lose money

7. LCG

Setting up an Islamic/swap free account with LCG is also an incredibly easy process. All it takes is an email to LCG’s customer support team ([email protected]) to request to change your account after completing your registration and its done. By signing up to LCG, traders can benefit from a broker that has been operating for over 20 years and offers over 7,000 instruments.

  • Regulations: London Capital Group Limited authorised & regulated by the FCA (182110); London Capital Group (CYPRUS) Limited authorised & regulated by CySEC (341/17). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, STP
  • Leverage: 1:500
  • Minimum Deposit: No minimum deposit required
  • Platforms: MT4 (desktop, tablet, mobile), LCG TRADER (desktop, tablet, mobile)
  • Headquarters: LCG Group is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on spot metals, indices, shares, bonds, commodities, EFTs; vanilla options
Try LCG with a demo account

79% of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $200
  • Platforms: MT4
  • InvestinGoal rank: 4.3/5


74% of retail CFD accounts lose money

8. AxiTrader

By signing up for an Islamic/swap free account with AxiTrader, traders can trade major and minor forex pairs and precious metals without administrative fees for up to five days, which is longer than most brokers who offer only up to two days. AxiTrader also has excellent liquidity, which it claims is the same as banks, hedge funds, and other financial institutions.

  • Regulations: AxiTrader UK is authorised & regulated by the FCA (509746); AxiCorp Financial Services Pty Ltd is authorised & regulated by ASIC (318232). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, Market Maker
  • Leverage: 1:400
  • Minimum Deposit: $ 200
  • Platforms: MT4 (PC and Mac, webtrader, mobile), MT4 NexGen
  • Headquarters: AxiCorp Limited is headquartered in London, UK
  • US Customers: Accepts US clients through its American subsidiary, AxiTrader USA. Bear in mind the services offered may not be the same
  • Other instruments: Spread betting; CFDs on commodities, gold, silver and metals, oil, indices, Bitcoi
Try AXITRADER with a demo account

74% of retail CFD accounts lose money

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