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

Below is the list of Forex brokers who offer Islamic or swap-free accounts with no rollover charges.

Besides Muslim friendly Forex brokers, there are also brokers who offer interest-free accounts to all traders.

Islamic account – can be opened for Muslims only.
Any account – can be opened for any client.
Standard account – needs further review.

Rank
Broker
Special Offer
Min Deposit
Spreads From
Rating
Max Leverage
Regulations
Support
Start Trading
1
No commissions
$50
0.8 PIPs
30:1
CIMA, NFA, CFTC, FCA, IIROC, ASIC, FFA Japan, MAS, SFC of Hong Kong
Forex trading involves significant risk of loss and is not suitable for all investors.
1
Spreads From 0.8 PIPs
Max Leverage 30:1
Min Deposit $50
Register now
2
EUR/USD from 0.5 pips
$200
0.5 PIPs
30:1
CySEC, FCA
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Spreads From 0.5 PIPs
Max Leverage 30:1
Min Deposit $200
Register now
3
Same Day withdrawals
$10
1.2 PIPs
500:1
3
Spreads From 1.2 PIPs
Max Leverage 500:1
Min Deposit $10
Register now

Benefits of rollover free trading

For certain currency pairs depending on the market position taken rollover can either be negative (means you have to pay) or positive (means you get paid). With rollover/swap free Forex accounts trader don’t pay anything nor they get paid for holding positions past 17:00pm (ask your broker about the Time zone they use) when rollover is calculated.

Forex currency trading Accounts that receive no rollover/no swap can be a good option for traders who employ long term trading strategies, starting from holding trades longer than a day and up to a month or so, and who don’t want to pay rollover fees.

Rollover/swap free Forex accounts are perfect for carry trade and hedging strategies where traders look to profit from holding currencies which earn positive rollover (with a broker that applies rollover/swaps) and at the same time look to offset any trading risks by hedging the same currency pair with another broker which applies no rollover fees, but instead charges a small commission.

And finally, here is a method of trading currencies with rollover-free Forex brokers:
Hedging strategy with 2 brokers using rollover-free account

What is a Forex Islamic account?

Under Sharia Islamic law, making money from money, such as receiving interest, is not permitted.
Wealth should be generated only through legitimate trade and investment in assets.

Basic principles of finance in Islam state that:
– giving or receiving an interest is not allowed;
– money cannot be traded for money, instead, money can be used to buy goods or services, which then can be sold for a profit.

In order to meet needs of Muslim traders Forex brokers offer Islamic accounts with strict compliance with Shariah Law:
the interest payment on the account balance is waived. Instead traders are charged a small daily service fee for positions held overnight. Alternatively there could be special conditions on spreads, where traders pay one pip higher spread on all currency pairs.

Forex Islamic accounts offer a halal (permissible) investment opportunity that involves zero riba (interest). Forex is a spot currency market which makes it halal. Forex is no different from the traveler changing money on the spot when he enters a foreign country.

An approximate list of countries whose residents can apply for Swap-free trading 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

Acceptance rules may vary from broker to broker.

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