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Islamic forex account (swap-free) ~ islamic Forex brokers in malaysia

Islamic swap-free forex account ~ islamic broker in malaysia
There are forex brokers that offer Islamic Forex Accounts to the clients who belong to this widely accepted faith. Standard account holders are subject to pay or receive interest for the positions that are held overnight, a factor that falls under the practice of usury according to Islam, so it’s a no-no situation for Islamic traders.

Islamic trading accounts, on the other hand, take into account factors such as no interest charged (Swap-free Islamic account) or the same currency exchange, the fact that the exchange must be done between two parties (or hand to hand), and the lack of solid reasoning for a currency movement that would make it a gamble under Riba law in Islam. Islamic traders can now take part in the foreign exchange market without exposing themselves to the unjustified areas of the business that would otherwise put them in a position to be held accountable by the Islamic laws. Learn more within the article β€œForex in Islam - Halal or Haram”.

So as long as no Islamic laws are broken, the Islamic traders can trade comfortably and with peace of mind. Below, we have listed the best Islamic forex brokers that offer Islamic Swap-free Accounts to their clients.
XM Malaysia
XM Malaysia
Minimum Deposit: $1
Account Types: Micro, Standard, Zero
Leverage: 1:888
Spread: Floating
Platform: MT4/5, WebTrader, Mobile

Deposit and Withdrawal: Bank Wire, Credit Cards, Webmoney, PerfectMoney, FasaPay, Skrill, Neteller, Local Malaysian Banks

Regulations: CySEC, IFSC, ASIC, FCA
Country: Cyprus

FXTM Malaysia
ForexTime Malaysia
Minimum Deposit: $5
Account Types: Cent, Standard, ECN, Zero-Spread, Pro
Leverage: 1:1000
Spread: Floating
Platform: MT4/5, WebTrader, Mobile

Deposit and Withdrawal: Bank Wire, Credit Cards, Webmoney, PerfectMoney, FasaPay, Skrill, Neteller, Bitcoin

Regulations: CySEC, IFSC, FCA
Country: Cyprus

FBS Malaysia
FBS Malaysia
Minimum Deposit: $1
Account Types: Micro, Cent, Standard, ECN, Zero-Spread
Leverage: 1:3000
Spread: Floating & Fixed
Platform: MT4/5, WebTrader, Mobile

Deposit and Withdrawal: Bank Wire, Credit Cards, Webmoney, PerfectMoney, FasaPay, Skrill, Neteller, Local Malaysian Banks

Regulations: CySEC, IFSC
Country: Russia

Tickmill Malaysia
Tickmill Malaysia
Minimum Deposit: $100
Account Types: Standard, Pro, VIP
Leverage: 1:500
Spread: Floating
Platform: MT4, WebTrader, Mobile

Deposit and Withdrawal: Bank Wire, Credit Cards, FasaPay, Skrill, Neteller, Local Malaysian Banks

Regulations: FSA, CySEC, FCA
Country: Cyprus