Muslim Forex Brokers

A list of Forex brokers that are friendly to Muslim Forex traders, allowing them to open the accounts without overnight interest (no Riba accounts). The companies presented here aren't necessarily Islamic Forex brokers per se, but they offer the right conditions for concerned traders. Such brokers can be very useful for people living in UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, and other countries of the Middle East. You will find 156 brokers listed in the table below.

You should open an account with a Shariah-compliant Forex broker if:

You would like to benefit from currency trading, but do not earn Riba.
You would like to trade without overnight swaps.
It is illegal to trade with non-Islamic brokers in your country.

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Forex — the foreign exchange market (also known as FOREX or FX) is the biggest and the most liquid financial market in the world. It boasts a daily volume of more than $7.5 trillion. Trading in this market involves buying and selling world currencies, taking profit from the exchange rates difference. FX trading can yield high profits but is also a very risky endeavor.

Forex trading bears intrinsic risks of loss. You must understand that Forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors.

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