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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:
Advantages:
- MetaTrader 4 Forex broker
- Traders contests and competitions
- Bonus for real trader account opening
- Muslim Forex broker - no-overnight interest accounts
- e-gold funds deposit/withdraw option
- Futures trading is available
- Start trading with as little as $1
Disadvantages:
Click here to open an account with FXOpen
FXcast:
Advantages:
- Metatrader 4 Forex broker
- 1 pip spread for EUR/USD for FXcast Swing platform.
- Start trading with as little as 1$
- e-gold, E-bullion, WebMoney 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
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| On-line since: | 2005
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| 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.
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| Payment options: | WebMoney, e-gold, e-Bullion, E-Dinar and wire transfer
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| Minimum account size: | $1
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| Minimum lot size: | 0.001 lot
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| Spreads: | 2 pips on EUR/USD
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| Rating: | 6.4/10.0 with 8 total votes - Rate Marketiva Broker:
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| Reviews: | Read or write a review on Marketiva broker
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| Categories: | e-gold Forex brokers, Muslim Forex brokers, WebMoney Forex brokers
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Advantages:
- Client program with a user-friendly interface
- Great support chat
- Fast order execution
- No limit on trade size
- No overnight interest
- e-gold, E-bullion, E-Dinar and WebMoney billing options
- Investment funds shares available
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
Pip Forex:
| Company: | Simray Holdings LLC
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| On-line since: | 2006
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| Regulation: | Regulated by Norwegian law and operating in compliance with the Norwegian financial authority, Kredittilsynet.
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| Payment options: | Bank wire and credit cards
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| Minimum account size: | $200
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| Minimum lot size: | 0.1 lot
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| Spreads: | 3 pips on EUR/USD
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| Rating: | 1.0/10.0 with 1 total votes - Rate Pip Forex Broker:
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| Reviews: | Read or write a review on Pip Forex broker
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| Categories: | Muslim Forex brokers
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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
NorthFinance:
| Company: | North Finance Company Ltd
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| On-line since: | 2003
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| Regulation: | North Finance is registered in Belize. It operates within the financial market in accordance with The Memorandum of Association and Articles of Association, which was granted to the company by Belize International Business Companies Act.
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| Payment options: | Wire transfer
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| Minimum account size: | $100
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| Minimum lot size: | 0.1 lot
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| Spreads: | 2 pips on EUR/USD
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| Rating: | 8.4/10.0 with 7 total votes - Rate NorthFinance Broker:
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| Reviews: | Read or write a review on NorthFinance broker
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| Categories: | Metatrader Forex brokers, Forex brokers with CFD trading, Muslim Forex brokers
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Advantages:
- MetaTrader 4 Forex broker
- Really fast and responsive support
- Variable leverage from 1:1 to 1:500
- No overnight interest for Muslim Forex traders
Disadvantages:
- No important disadvantages
Click here to open an account with NorthFinance
X-Trade Brokers:
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.
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| On-line since: | 2006
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| Regulation: | Registered with ARIF (Association Romande des Intermédiaires Financiers) - a Swiss organization against money laundering, is also audited by Swiss financial auditor VERIFID.
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| Payment options: | Bank wire
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| Minimum account size: | $1,000
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| Minimum lot size: | 0.1 lot
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| Spreads: | 3 pips on EUR/USD
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| Rating: | 7.5/10.0 with 2 total votes - Rate Tadawul FX Broker:
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| Reviews: | Read or write a review on Tadawul FX broker
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| Categories: | Metatrader Forex brokers, Muslim Forex brokers
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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:
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
MGFOREX:
| Company: | MG Financial Group
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| On-line since: | 2000
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| Regulation: | Registered as a Futures Commission Merchant with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA ID #0308808).
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| Payment options: | Wire transfer and checks
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| Minimum account size: | $500
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| Minimum lot size: | 0.1 lot
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| Spreads: | 3 pips on EUR/USD
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| Rating: | Unrated - Rate MGFOREX Broker:
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| Reviews: | Read or write a review on MGFOREX broker
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| Categories: | Muslim Forex brokers
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Advantages:
- Muslim friendly Forex broker (fees instead of overnight interest)
- Regular Forex trading contests
Disadvantages:
- No Metatrader 4 software support
- Limited trading freedom
Click here to open an account with MGFOREX
MFN:
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
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