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Muslim Friendly Forex Brokers

Shariah, or Islamic law prohibits any interest to be paid on an investment. However, the rollover interest from a forex position is a key aspect of forex trading. Thus the question arises, how can a Muslim forex trader from Saudi Arabia or the United Arab Emirates (or indeed a Muslim from any other country who wishes to trade forex in accordance with Shariah law) do so without violating Shariah law? Fortunately, it is possible to find a forex brokwho can provide an account which charges no overnight interest. Such swap-free accounts are usually offered only to Muslims in order to prevent abuse by other forex traders. To substitute for the revenue from a missing swap, forex brokers usually charge a flat fee for this service.

The following is a list of forex brokers which are suitable for Muslim Forex traders, allowing them to open the accounts without overnight interest (often called 'no Riba' accounts). These forex brokers are appropriate for forex traders from Iran, UAE, Saudi Arabia and other countries in the Middle East.