Top 7 Swap Free (Islamic) Accounts for Forex Brokers
The number of forex brokers offering swap-free accounts is expected to continue to grow. Here are the top 7 forex brokers offering swap-free accounts, based on expert assessment and user feedback:
eToro
The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.
eToro Profile Details
💻 Trading platform: |
MobileTrading, WebTrader |
🔧 Instruments: |
Currencies, assets of stock and commodity markets, cryptocurrencies |
⭐ Trading features: |
Cryptocurrency trade; Structural investment portfolios; Copy Portfolios; Trading Central. |
OANDA
The name OANDA is an acronym for “Olsen & Associates” or “Olsen AND Associates”. It is registered in the United States and provides its clients with a wide range of financial services in most countries of the world. The company was founded in 1996 and is currently regulated in four jurisdictions. The main regulator of the broker is the UK Financial Conduct Authority (FCA). Oanda Canada is licensed by IIROC. The company has several significant awards to its credit, including a victory in the category "Best Forex Trading Technologies" from the UK Forex Awards, "Best Trading Platform" from FX Week, as well as "Best Customer Service" from the US Foreign Exchange Report.
💻 Trading platform: |
WebTrader, MetaTrader4, Mobile platforms, MetaTrader5 |
🔧 Instruments: |
FX, Indices, Bullion, Commodities, Crypto |
⭐ Trading features: |
Advisors; Availability of a demo account; A large number of training materials. |
FOREX.com
Forex.com is a company owned by GAIN Capital Holdings, Inc. (NYSE: GCAP) and has earned a reputation as a reliable broker in the trading industry for its transparent work and high quality of services. The company cooperates with clients in 140 countries. The broker is registered in the Cayman Islands and supervised by CIMA (Certified Institute for Management Accountants). The license number is 25033. The parent company of the Forex.com broker is registered in England and Wales under the number 1761813 at the UK Companies House. It is licensed by one of the most reputable regulators in the world, FCA (No. 113942).
💻 Trading platform: |
FOREX.com, MT4, MT5 |
🔧 Instruments: |
Forex, cryptocurrencies, indices, commodities, stocks |
⭐ Trading features: |
There is a cryptocurrency trading |
RoboForex
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
💻 Trading platform: |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
🔧 Instruments: |
Forex (currency pairs), ETFs, index CFDs, oil CFDs, CFD on European and U.S. stocks, real securities |
⭐ Trading features: |
Negative Balance Protection; No swaps on Islamic accounts, a pleasant affiliate program: each market participant gets up to 20% loyalty; One Click Trading. |
Exness
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
💻 Trading platform: |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
🔧 Instruments: |
Forex CFDs on: cryptos, commodities, indices, and stocks |
⭐ Trading features: |
Floating spreads; Fixed fee per lot on professional account types. |
FBS
FBS is an international broker with a strong presence in Asia, offering a wide range of trading instruments including Forex, stocks, indices, energies, and metals. With over 90 international awards and 27 million clients across 150 countries, FBS boasts a strong global reputation.
The company provides flexible trading conditions: leverage up to 1:3000, floating spreads from 0.7 pips, commission-free trading, and fast execution speeds starting at 0.01 seconds. FBS ensures client security with negative balance protection and offers a user-friendly experience on familiar trading platforms.
While FBS doesn't currently offer cryptocurrency trading or passive income options like PAMM accounts and copy trading, its competitive conditions and extensive educational resources make it a compelling choice for traders seeking a comprehensive and accessible experience.
💻 Trading platform: |
MT4, MobileTrading |
🔧 Instruments: |
Forex, indices, metals, futures contracts |
⭐ Trading features: |
Advisors; Hedging; Protection against a gap. |
TeleTrade
TeleTrade is a global broker serving clients worldwide. They offer trading on Forex, indices, stocks, metals,cryptocurrencies, and energies. While lacking PAMM accounts and certain investment options, TeleTrade boasts a robust copy trading service, a strong affiliate program, and diverse account types (ECN, NDD, crypto). With sufficient leverage (up to 1:500) and spreads from 0 pips, the broker caters to various trading styles, including scalping, intraday trading, and medium to long-term strategies.
TeleTrade supports traders with market analytics, expert forecasts, an economic calendar, and a comprehensive education section on their website.
💻 Trading platform: |
MT4, MT5 |
🔧 Instruments: |
Forex, metals, indices, energies, stocks, cryptocurrencies |
⭐ Trading features: |
Cryptocurrency trading; Social trading. |
Octa
OctaFX is a reputable broker that offers competitive trading conditions on 300+ instruments, with spreads from 0.6 pips and zero non-trading commissions. The broker provides access to popular MT4/5 trading platforms and a proprietary OctaTrader platform with advanced features.
The company offers bonuses, contests, and a comprehensive education section to enhance traders' skills. With a strong focus on the Asia-Pacific region and a growing global presence, OctaFX has earned numerous awards for its services.
While passive investment options are limited to copy trading, OctaFX's overall trading environment and excellent customer support make it an attractive choice for traders seeking a reliable and user-friendly experience.
💻 Trading platform: |
MetaTrader4, MetaTrader5 |
🔧 Instruments: |
32 currency pairs, 10 cryptocurrencies, 3 CFDs on energy resources, 10 indices, gold, silver and +150 CFDs on stocks |
⭐ Trading features: |
All trading strategies are allowed; MT4 account with a floating or fixed spread. |
Vantage Markets
Vantage Markets is a multi-asset broker offering a vast array of 1,000+ trading instruments, including currency pairs, CFDs on stocks, indices, commodities, energy, and ETFs. Holding licenses from reputable regulators like the FCA and ASIC, Vantage Markets ensures a level of security and trust for its clients.
The broker provides a choice between spread-based and commission-based account types, with leverage up to 1:500 on Forex pairs. Its PRO ECN option particularly stands out with commission starting from $1.5 per lot, making it attractive for high-volume traders.
Alongside the popular MetaTrader 4/5 platforms, the broker offers proprietary trading platform ProTrader and a convenient Vantage App. Additionally, Vantage Markets integrates with TradingView, enabling direct trading from the popular charting platform.
💻 Trading platform: |
MT4, MT5, WebTrader, Mobile Apps |
🔧 Instruments: |
Currency pairs (57), CFDs on stocks (226), indices (26), and commodities (22), energy, ETFs, bonds, share SFDs |
⭐ Trading features: |
Automated trading; Pro Trader Tools; VPS server; Analytical instruments; Proprietary mobile application. |
FxPro
FxPro is a well-established broker offering traders access to over 2,100 financial instruments across multiple asset classes, including Forex, stocks, commodities, indices, and cryptocurrencies. It is regulated by reputable authorities – FCA, CySEC and others.
The broker stands out with its focus on technology and offers an average order execution speed of 14-30 ms, setting a market benchmark. FxPro also provides an impressive suite of trading tools and educational resources, such as Trading Central analytics. The minimum deposit of $100, however, is higher than some competitors.
With a company capital exceeding 100 million euro, and a track record of reliability, FxPro stands out as a top-tier choice for traders looking for a secure and dynamic trading environment.
💻 Trading platform: |
MT4, MobileTrading, MT5, cTrader, FxPro Edge |
🔧 Instruments: |
Over 2,100 assets are available: currencies, stocks, indices, futures, metals, energies, and cryptocurrencies. |
⭐ Trading features: |
Scalping - for all types of financial instruments; Negative balance protection for customer accounts; 24-hour multilingual support, 5 days a week; Advisors; Algorithmic Trading. |