Halal Brokers with Islamic Accounts
Written By
James Barra
Written By
James Barra
Edited By
Tobias Robinson
Edited By
Tobias Robinson
Fact Checked By
William Berg
Fact Checked By
William Berg
Updated
Jul 24, 2024
We have reviewed all Halal brokers on the market that claim to have Islamic trading accounts in 2025. Below we list the findings of our review team and their ratings of Islamic brokers.
List of Best Halal Brokers
We have reviewed over 400 brokers as of March 2025 and found that these are the 6 best Islamic brokers and accounts
Click a broker for details
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1
eToro USAInvest $100 and get $10Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk. https://www.daytrading.com/ is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.
Ratings
$100$10SEC, FINRAStocks, Options, ETFs, CryptoeToro Trading Platform & CopyTraderACH Transfer, Debit Card, PayPal, Wire TransferUSD -
2
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
3
UnitedPips40% Deposit Bonus
Ratings
$100.01 Lots1:1000IFSACFDs, Forex, Precious Metals, CryptoUniTraderPayPal, Credit Card, Debit Card, Perfect Money, Bitcoin Payments, Ethereum PaymentsUSD -
4
Dukascopy10% Equity Bonus
Ratings
$1000.01 Lots1:200FINMA, JFSA, FCMCCFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary OptionsJForex, MT4, MT5Neteller, Wire Transfer, Mastercard, Skrill, Visa, Maestro, Credit Card, Debit Card, Apple Pay, Bitcoin Payments, Ethereum PaymentsUSD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN -
5
xChief$100 No Deposit Bonus
Ratings
$100.01 Lots1:1000ASICCFDs, Forex, Metals, Commodities, Stocks, IndicesMT4, MT5Wire Transfer, Bitcoin Payments, Credit Card, UnionPay, Skrill, Neteller, WebMoney, Perfect Money, Debit Card, Ethereum Payments, FasaPay, VoletUSD, EUR, GBP, JPY, CHF -
6
Plexytrade120% Cash Welcome Bonus
Ratings
$500.011:2000CFDs, Forex, Indices, Stocks, Commodities, CryptoMT4, MT5Bitcoin Payments, Ethereum PaymentsUSD, EUR
Here is a summary of why we recommend these brokers in March 2025:
- eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- UnitedPips - Operating since 2016 and based in Saint Lucia, UnitedPips is a non-dealing desk broker serving clients in over 137 countries. It specializes in CFD trading across around 80+ assets with high leverage up to 1:1000.
- Dukascopy - Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
- xChief - xChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
- Plexytrade - Established in 2024 and headquartered in Saint Lucia, Plexytrade is an ECN/STP broker. Geared towards active traders, it supports four account options, crypto deposits and withdrawals, plus very high leverage up to 1:2000 made possible by its unregulated status.
Halal Brokers with Islamic Accounts Comparison
| Broker | Swap-Free Account | Minimum Deposit | Minimum Trade | Instruments | Regulators |
|---|---|---|---|---|---|
| eToro USA | ✔ | $100 | $10 | Stocks, Options, ETFs, Crypto | SEC, FINRA |
| FOREX.com | ✔ | $100 | 0.01 Lots | Forex, Stocks, Futures, Futures Options | NFA, CFTC |
| UnitedPips | ✔ | $10 | 0.01 Lots | CFDs, Forex, Precious Metals, Crypto | IFSA |
| Dukascopy | ✔ | $100 | 0.01 Lots | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options | FINMA, JFSA, FCMC |
| xChief | ✔ | $10 | 0.01 Lots | CFDs, Forex, Metals, Commodities, Stocks, Indices | ASIC |
| Plexytrade | ✔ | $50 | 0.01 | CFDs, Forex, Indices, Stocks, Commodities, Crypto | - |
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
Jemma Grist, Reviewer
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- A free demo account means new users and prospective day traders can try the broker risk-free
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
- The broker's Academy offers comprehensive learning materials for beginners to advanced-level investors
Cons
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- Average fees may cut into the profit margins of day traders
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
UnitedPips
"UnitedPips is ideal for traders seeking leveraged trading opportunities, the security of fixed spreads, and the flexibility to deposit, withdraw, and trade cryptocurrencies - all in one sleek TradingView-powered platform."
UnitedPips Quick Facts
| Bonus Offer | 40% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Precious Metals, Crypto |
| Regulator | IFSA |
| Platforms | UniTrader |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD |
Pros
- UnitedPips offers impressive leverage up to 1:1000 with zero swap fees or commissions, which can enhance potential returns for day traders and swing traders looking to control prominent positions with less capital.
- UnitedPips’ platform performs well, with an intuitive design that will appeal to beginners, while the TradingView integration delivers powerful charting tools without overwhelming users, making it straightforward to execute trades efficiently.
- Although being handed off mid-chat due to shift changes during testing was frustrating, customer support is generally good with quick, helpful responses, and 24/7 support via phone and email for regional teams is a definite advantage.
Cons
- Unlike brokers such as IG, UnitedPips is an offshore broker not regulated by any 'green tier' financial authorities, raising concerns for traders seeking assurance and protection under well-established regulatory frameworks.
- UnitedPips lacks comprehensive research, while the educational content for beginner traders is woeful. Compared to brokers like eToro, which offers tutorials, webinars, and advanced courses, UnitedPips offers minimal resources to help new traders understand key concepts.
- UnitedPips' selection of tradable instruments is still minimal, comprising a bare minimum selection of forex, metals and crypto. There are no equities, indices or ETFs, which may be a drawback for experienced traders looking for diverse opportunities.
Dukascopy
"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."
Dukascopy Quick Facts
| Bonus Offer | 10% Equity Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options |
| Regulator | FINMA, JFSA, FCMC |
| Platforms | JForex, MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:200 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN |
Pros
- Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction), and volume-based commissions that reward high-frequency traders.
- The proprietary JForex platform is highly advanced, offering tools for algorithmic trading, extensive charting, and access to deep liquidity for short-term traders.
- Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
Cons
- While JForex is feature-rich, it has a steep learning curve, making it less suitable for beginner traders who might prefer simpler platforms.
- Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
- Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.
xChief
"xChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."
xChief Quick Facts
| Bonus Offer | $100 No Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Metals, Commodities, Stocks, Indices |
| Regulator | ASIC |
| Platforms | MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:1000 |
| Account Currencies | USD, EUR, GBP, JPY, CHF |
Pros
- xChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side
- The broker offers several account types to suit different traders, including a Cent account for beginners and pro-level hedging/netting accounts
- Traders can access a copy trading solution via the MetaQuotes Signals service
Cons
- Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
- The broker trails competitors when it comes to research tools and educational resources
- The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
Plexytrade
"Plexytrade is a newcomer in the brokerage scene with attention-grabbing features like 1:2000 leverage, zero spreads on select instruments and fast execution speeds of less than 46 milliseconds. However, the absence of regulation is a significant concern, while the non-existent research and educational tools place it far behind industry frontrunners."
Plexytrade Quick Facts
| Bonus Offer | 120% Cash Welcome Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Indices, Stocks, Commodities, Crypto |
| Platforms | MT4, MT5 |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 |
| Leverage | 1:2000 |
| Account Currencies | USD, EUR |
Pros
- Plexytrade accommodates a range of trading methods and short-term strategies, including scalping, hedging, and automated trading.
- Despite lacking regulation, Plexytrade provides negative balance protection and reinforces safety protocols by holding client funds in segregated accounts.
- There are various VPS packages starting from $50 per month, but they become complimentary once specific deposit thresholds are reached.
Cons
- There are no research and educational materials, falling short of alternatives like IG, while access to the economic calendar is restricted to clients with balances of $500.
- There are no social or copy trading features for inexperienced traders to replicate the trades of more experienced investors, trailing category leaders like eToro.
- With around 100 instruments, Plexytrade restricts the flexibility of investors who prefer to trade across various assets, especially compared to Blackbull with its 26,000 securities.
What is an Islamic Trading Account?
For a broker to be halal and truthfully claim they offer accounts based on Islamic principles, their Islamic accounts need to meet the following criteria:
- Very fast execution of trades – Minimal delay helps satisfy the rule of prompt hand to hand exchanges between two parties.
- Instant settlement of transaction costs – Be careful with accounts where open trades are automatically rolled over to the next trading day, as they may incur interest charges for the rollover.
- Zero interest rates on trades – To avoid breaking rules around riba, there must be no interest. Any interest will deem the contract invalid and not halal.