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Forex Broker Comparison Compare Forex Brokers, Find the Best FX Broker For You! |
Muslim Forex Brokers
A list of Forex brokers which 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.
FXOpen:
| Company: | Belvedere Inc. |
| On-line since: | 2005 |
| Regulation: | Incorporated in Seychelles, according to the terms of the International Business Companies Act (1994). Registration number: 032997. |
| Payment options: | WebMoney, CashU, E-Bullion, e-gold and wire transfer |
| Minimum account size: | $1 |
| Minimum lot size: | 0.001 lot |
| Leverage: | from 1:1 to 1:500 |
| Spreads: | 2 pips on EUR/USD |
| Categories: | Metatrader Forex brokers , Forex brokers with CFD trading , Muslim Forex brokers, WebMoney Forex brokers , Moneybookers Forex brokers , e-gold Forex brokers , PayPal Forex brokers , enc forex brokers , Advanced Forex Brokers , institutional Forex Brokers , Web Forex Brokers , Free forex Books , Forex Tools |
Advantages:
- MetaTrader 4 Forex broker
- Traders contests and competitions
- Bonus for real trader account opening
- Muslim Forex broker - no-overnight interest accounts
- WebMoney funds deposit/withdraw option
- Futures trading is available
- Start trading with as little as $1
Disadvantages:
- No important disadvantages
Click here to open an account with FXOpen
InstaForex:
| Company: | InstaForex |
| On-line since: | 2008 |
| Regulation: | Unregulated |
| Payment options: | Moneybookers, wire transfer, credit cards, WebMoney, e-Bullion, e-gold and RuPay |
| Minimum account size: | $10 |
| Minimum lot size: | 0.01 |
| Leverage: | from 1:1 to 1:500 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- MetaTrader 4 trading platform
- 6% interest rate on deposit
- Flexible leverage
- Wide range of funding options
- Islamic (no interest) accounts available
Disadvantages:
- No important disadvantages
Click here to open an account with InstaForex
FXcast:
| Company: | FXcast |
| On-line since: | 2005 |
| Regulation: | Unregulated |
| Payment options: | WebMoney, E-bullion, E-Dinar, c-gold, Liberty Reserve, e-gold, wire transfer and credit cards |
| Minimum account size: | $10 |
| Minimum lot size: | 0.01 lot |
| Leverage: | from 1:25 to 1:400 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Metatrader 4 Forex broker
- WebMoney, e-Bullion, E-Dinar, c-gold, Liberty Reserve and wire transfer deposit/withdraw options
- Leverage from 1:25 to 1:400
- Muslim friendly Forex broker
Disadvantages:
- No important disadvantages
Click here to open an account with FXcast
Marketiva:
| Company: | Marketiva Corporation |
| On-line since: | 2005 |
| Regulation: | Incorporated as an international business corporation in British Virgin Islands with registration number IBC CAP. 291 Reg. # 646819. Marketiva Corporation is under jurisdiction of the Financial Services Commission (FSC) and conforms with its regulations and internationally accepted supervisory and regulatory standards. |
| Payment options: | WebMoney, e-Bullion, E-Dinar, Liberty Reserve and wire transfer |
| Minimum account size: | $1 |
| Minimum lot size: | 0.001 lot |
| Leverage: | 1:100 |
| Spreads: | 2 pips on EUR/USD |
Advantages:
- Client program with a user-friendly interface
- Great support chat
- Fast order execution
- No limit on trade size
- No overnight interest
- Liberty Reserve, E-bullion, E-Dinar and WebMoney billing options
- Investment funds shares available
- World indexes and precious metals trading
Disadvantages:
- No MetaTrader 4 software support
- U.S. citizens can't open accounts
- $7 withdrawal fee (only first withdrawal)
- Muslim Forex broker - no overnight interest
- No contact phone/fax numbers
Click here to open an account with Marketiva
ForexYard:
| Company: | FxYard Limited |
| On-line since: | 2005 |
| Regulation: | Unregulated |
| Payment options: | Credit card, bank wire transfer and Western Union |
| Minimum account size: | $100 |
| Minimum lot size: | 0.1 lot |
| Leverage: | from 1:100 to 1:200 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Java based trading platform available
- Forex market news
- Trading courses available
- No overnight interest rate accounts available
Disadvantages:
- No MetaTrader 4 software support
- U.S., Cyprus and New Zealand citizens can't open accounts
Click here to open an account with ForexYard
Forex.com:
| Company: | GAIN Capital Group |
| On-line since: | 1998 |
| Regulation: | Registered Futures Commission Merchant (NFA ID #0339826). |
| Payment options: | Bank wire |
| Minimum account size: | $250 |
| Minimum lot size: | 0.1 lot |
| Leverage: | from 1:100 to 1:200 |
| Spreads: | 2 pips on EUR/USD |
Advantages:
- Web based trading platform available
- Free news stream and real-time alerts
- MetaTrader 4 platform available
Disadvantages:
- Opening an account is a complicated process
- Some countries and states are not allowed to open accounts
Click here to open an account with Forex.com
X-Trade Brokers:
| Company: | X-Trade Brokers S.A. |
| On-line since: | 2006 |
| Regulation: | Regulated by the Securities and Exchange Commissions of European Union. |
| Payment options: | Bank wire |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:100 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- MetaTrader4 software support
- Supports trading over the phone
- Muslim Forex broker
Disadvantages:
- No mini Forex accounts
- Opening an account is a complicated process
Click here to open an account with X-Trade Brokers
Tadawul FX:
| Company: | Tadawul FX SA. |
| On-line since: | 2006 |
| Regulation: | Registered with ARIF (Association Romande des Intermédiaires Financiers) - a Swiss organization against money laundering, is also audited by Swiss financial auditor VERIFID. |
| Payment options: | Bank wire |
| Minimum account size: | $1,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | from 1:33 to 1:100 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Islamic Forex broker
- MetaTrader4 Forex broker
- Registered with very serious regulation authorities
- Mobile trading supported
Disadvantages:
- Opening an account is a complicated process
Click here to open an account with Tadawul FX
Forex.CH:
| Company: | GFX Group SA |
| On-line since: | 2005 |
| Regulation: | Registered with the Swiss self-regulated financial organization PolyReg. |
| Payment options: | Bank wire and checks |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | up to 1:200 |
| Spreads: | 2—3 pips on EUR/USD |
Advantages:
- Advanced trading platform
- Stock indices trading available
- No overnight interest for Muslim traders
Disadvantages:
- High account size minimum for mini Forex
- Commissions for no-overnight interest accounts
- Opening an account is a complicated process
Click here to open an account with Forex.CH
IKON GM – Royal Division:
| Company: | IKON GM – Royal Division |
| On-line since: | 2006 |
| Regulation: | Regulated by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA) as a registered Futures Commission Merchant (FCM) (NFA ID #0327622). |
| Payment options: | Wire transfer, PayPal, BPS and check |
| Minimum account size: | $2,500 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:100 |
| Spreads: | Variable |
Advantages:
- Metatrader 4 Forex broker
- Muslim friendly Forex broker
Disadvantages:
- Opening an account is a complicated process
Click here to open an account with IKON GM – Royal Division
MGFOREX:
| Company: | MG Financial Group |
| On-line since: | 2000 |
| Regulation: | Registered as a Futures Commission Merchant with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA ID #0308808). |
| Payment options: | PayPal, wire transfer, credit cards and checks |
| Minimum account size: | $200 |
| Minimum lot size: | 0.1 lot |
| Leverage: | up to 1:100 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Muslim friendly Forex broker (fees instead of overnight interest)
- Regular Forex trading contests
- Multi-currency accounts
Disadvantages:
- No MetaTrader 4 software support
Click here to open an account with MGFOREX
Pip Forex:
| Company: | Simray Holdings LLC |
| On-line since: | 2006 |
| Regulation: | Regulated by Norwegian law. |
| Payment options: | Bank wire and credit cards |
| Minimum account size: | $200 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:200 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Extremely easy and fast platform
- Careful support and aimed on new Forex traders
- Daily commissions instead of overnight interest
Disadvantages:
- No Metatrader software support
- Very limited trading platform
Click here to open an account with Pip Forex
MFN:
| Company: | MFN & CMG |
| On-line since: | 2005 |
| Regulation: | Unregulated |
| Payment options: | Bank wire, credit cards and e-gold |
| Minimum account size: | $500 |
| Minimum lot size: | 0.1 lot |
| Leverage: | up to 1:400 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- e-gold deposit option
- Muslim Forex trading accounts available
Disadvantages:
- No Metatrader software support
- U.S. citizens are not allowed to trade with MFN
Click here to open an account with MFN
GCI Financial:
| Company: | GCI Financial Ltd. |
| On-line since: | 2002 |
| Regulation: | Unregulated |
| Payment options: | Wire transfer, credit cards, PayPal, Moneybookers and check |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | up to 1:200 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Indexes and CFD trading available
- Muslim-friendly Forex broker
- MetaTrader 4 trading platform
Disadvantages:
- No important disadvantages
Click here to open an account with GCI Financial
Xforex:
| Company: | XFOREX Inc. |
| On-line since: | 2003 |
| Regulation: | Unregulated |
| Payment options: | Wire transfer and credit cards |
| Minimum account size: | $50 |
| Minimum lot size: | 0.05 lot |
| Leverage: | up to 1:400 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Web based Forex trading platform
- Muslim friendly Forex broker
Disadvantages:
- No MetaTrader 4 support
- No demo Forex accounts
- Doesn't accept traders from U.S. and Nigeria
Click here to open an account with Xforex
One Financial:
| Company: | CB Financial Services |
| On-line since: | 2007 |
| Regulation: | Authorized and regulated by the Financial Services Authority. |
| Payment options: | Wire transfer and credit cards |
| Minimum account size: | $1,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:100 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- Islamic Forex broker
Disadvantages:
- Opening an account is a complicated process
- No MetaTrader support
Click here to open an account with One Financial
NordMarkets:
| Company: | Nord Group Financial AB |
| On-line since: | 2008 |
| Regulation: | Registered with the Swedish FSA (Finansinspektionen) |
| Payment options: | Bank wire and credit cards |
| Minimum account size: | $1,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:50 and 1:100 |
| Spreads: | 1-3 pips on EUR/USD |
Advantages:
- Muslim accounts are available
- Very low spreads for big accounts
Disadvantages:
- No MetaTrader 4 support
- Opening an account is a complicated process
Click here to open an account with NordMarkets
ForexGen:
| Company: | ForexGen |
| On-line since: | 2006 |
| Regulation: | Unregulated |
| Payment options: | Wire transfer |
| Minimum account size: | $250 |
| Minimum lot size: | 0.01 lot |
| Leverage: | from 1:50 to 1:500 |
| Spreads: | from 0 to 2 pips on major currency pairs |
Advantages:
- MetaTrader 4 Forex broker
- Very low spreads for big accounts
- No swaps
Disadvantages:
- No swaps
- Bad reputation in the Forex community
Click here to open an account with ForexGen
FXTSwiss:
| Company: | FXTSwiss |
| On-line since: | 2008 |
| Regulation: | Unregulated |
| Payment options: | Credit cards and wire transfer |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | up to 1:400 |
| Spreads: | 1 pip on EUR/USD |
Advantages:
- MetaTrader 4 Forex broker
- Free trading recommendations
- No swaps (Muslim-friendly)
- Tight spreads
Disadvantages:
- No swaps
- Relatively large minimum account size
- U.S. citizens are not allowed to open accounts
Click here to open an account with FXTSwiss
InvestTechFX:
| Company: | InvestTechFx Technologies Inc. |
| On-line since: | 2006 |
| Regulation: | Registered in Canada under Canada Business Corporation Act. |
| Payment options: | Bank transfer, PayPal and credit cards |
| Minimum account size: | $100 |
| Minimum lot size: | 0.01 lot |
| Leverage: | from 1:1 to 1:500 |
| Spreads: | 1 pip on EUR/USD |
Advantages:
- MetaTrader 4 Forex broker
- Low spreads
- Muslim-friendly accounts available
Disadvantages:
- No important disadvantages
Click here to open an account with InvestTechFX
Apex FX Trading:
| Company: | Apex FX Trading LLC |
| On-line since: | 2001 |
| Regulation: | Unregulated |
| Payment options: | Wire transfer |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:100 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- MetaTrader 4 Forex broker
- No swaps (Muslim-friendly accounts)
Disadvantages:
- No swaps
- Relatively high spreads
- Minor reputation flaws
Click here to open an account with Apex FX Trading
Arab Financial Brokers:
| Company: | Arab Financial Brokers K.S.C.C. |
| On-line since: | 2008 |
| Regulation: | Regulated by the Kuwaiti laws. |
| Payment options: | Wire transfer |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | up to 1:200 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- MetaTrader 4 platform
- Muslim-friendly Forex broker
Disadvantages:
- Relatively high minimum account size
- Higher than average spreads
- No swaps
Click here to open an account with Arab Financial Brokers
FX|Clearing:
| Company: | FX Clearing Group |
| On-line since: | 2007 |
| Regulation: | Unregulated |
| Payment options: | Moneybookers, PayPal and wire transfer |
| Minimum account size: | $10 |
| Minimum lot size: | 0.01 lot |
| Leverage: | 1:50, 1:200, 1:400 and 1:500 |
| Spreads: | 1-2 pips on EUR/USD |
Advantages:
- MetaTrader 4 platform
- Tight spreads
- No swaps for mini- and micro-accounts
Disadvantages:
- U.S. and Canadian citizens are not allowed to join
Click here to open an account with FX|Clearing
EMPFX:
| Company: | E-Money Power Ltd |
| On-line since: | 2007 |
| Regulation: | Unregulated |
| Payment options: | Moneybookers, credit cards, check and wire transfer |
| Minimum account size: | $300 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:200 |
| Spreads: | 1 pip on EUR/USD |
Advantages:
- Muslim-friendly accounts are available
- Registration bonus
- Tight spreads
- Managed accounts are available
Disadvantages:
- No MetaTrader 4 support
Click here to open an account with EMPFX
FXCH:
| Company: | Foreign Exchange Clearing House Ltd |
| On-line since: | 2004 |
| Regulation: | Unregulated |
| Payment options: | WebMoney, AlertPay, wire transfer |
| Minimum account size: | $2,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | 1:500 |
| Spreads: | 1 pip on EUR/USD |
Advantages:
- MetaTrader 4 platform
- Muslim-friendly Forex broker
- Tight spreads with high leverage
Disadvantages:
- No overnight interest
- Minimum account size is rather high
- U.S. citizens can't join
Click here to open an account with FXCH
FX-PRO:
| Company: | FX-PRO |
| On-line since: | 2002 |
| Regulation: | Unregulated |
| Payment options: | Wire transfer and credit cards |
| Minimum account size: | $1,000 |
| Minimum lot size: | 0.1 lot |
| Leverage: | from 1:100 to 1:200 |
| Spreads: | 3 pips on EUR/USD |
Advantages:
- MetaTrader 4 platform
- Muslim-friendly — no swaps
Disadvantages:
- Spreads are wider than average
- No swaps
Click here to open an account with FX-PRO