On this page Choosebroker.com will enlist the top Islamic brokers that offer Islamic, swap-free accounts.

Islamic trading or investing is also called trading by the Shariah System. It is forbidden to trade in companies like casino’s. Also, it is forbidden to invest in food companies that do not follow Halal-methods. Alcohol and tobacco companies are also prohibited in Islamic trading. Pork meat and pornography stocks are not accepted and should not be added to the trading portfolio.

Many brokers and banks have a separate department for Islamic banking. Choosebroker.com can give you some advice on how to choose an online broker that is perfectly suited for Islamic trading.

HYCM, AvaTrade, FP Markets, City Index and ThinkMarkets are the top brokers that have outstanding Islamic trading platforms and accounts available. For instance, when you invest in commodities like gold and crude oil or stocks like Apple or Google, you don’t do anything wrong, according to Shariah trading methods. These special Islamic trading accounts are called swap-free accounts. You can learn more about them in this article:

What is a Swap?

Important to mention is that by the Islamic law, ‘Riba’ or interest is forbidden. You have to do your due diligence when checking the numbers of stock market enlisted companies to check whether the company in question pays out dividend or not. Below you will find the Best Islamic brokers.

 

Broker Info Bonus US Traders Get Started
AxiTrader Assets: 80+
Payout: 3 to 5 business days
Demo Account: Yes
Min Deposit: $200
30 day free demo trial Open free demo account Read / Submit Review
City Index Assets: 12.000+
Payout: within 7 business days
Demo Account: Yes
Min Deposit: $100
Tight, fixed spreads USA Allowed Open free demo account Read / Submit Review
FP Markets Assets: 10,000+
Payout: within 7 business days
Demo Account: Yes
Min Deposit: $100
Tight, fixed spreads Open free demo account Read / Submit Review
BDSwiss Assets: 1000+
Payout: within 48 hours
Demo Account: Yes
Min Deposit: $10
None Open free demo account Read / Submit Review
AvaTrade Assets: 1,000+
Payout: within 48 hours
Demo Account: Yes
Min Deposit: $100
50% up to $10,000 Open free demo account Read / Submit Review

avatrade-islamic-account

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