The Forex trading accounts specifically designed to comply with Islamic principles are known as Islamic Forex Accounts. The Islamic forex accounts ensure that the traders belonging to the Islamic faith engage in forex trading, without breaking the laws of the religion. These Islamic forex trading accounts are also known as swap free trading accounts in the forex market. Benefits. The XM forex Islamic accounts differ greatly from those generally offered by other forex brokers. The difference lies in the fact that unlike most forex companies who substitute additional fees by widening the spread on Islamic accounts, XM imposes no additional charges. A list of Forex brokers that are friendly to Muslim Forex traders, allowing them to open the accounts without overnight interest (no Riba accounts).Such brokers can be very useful for traders from Iran, Saudi Arabia and other countries of Middle East. You will find 145 brokers listed in the table below. The team at Daily Forex examined the top Muslim friendly Forex brokers and has compared them in an easy to read list where you can determine which Islamic Forex broker is the best one for you. Today, many brokers around the world are keen to offer Islamic Forex accounts for those who want to comply with Sharia law. What is an Islamic Forex account? An Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in the Islamic stock market following the principles of Islamic finance. Also known as swap-free accounts, Islamic trading accounts differ in several ways from regular Forex accounts.
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