Best Islamic Forex Broker – Orbex
Orbex have been awarded the FX Broker Awards’ best Islamic forex broker. They are fully licensed by CySec, but have an official presence in the Middle East thanks to an office in Kuwait.
Orbex offers its clients a selection of account types to make sure traders of all skill level and portfolio size are well taken care of. Basically, there are three account types:
Universal accounts which offer fixed spreads.
ECN accounts with floating tight spreads and commission fees.
Swap-free (Islamic forex) accounts that are available on all Universal accounts to Muslim forex traders who are unable to earn interest for religious reasons.
On their best Islamic forex account, clients are able to trade forex, precious metals, commodities, CFDs and futures. A huge offering from a forex broker with a trusted Islamic forex account.
Islamic Forex Broker That Offers Clients Swap Free Accounts
Orbex offers their Islamic clients swap free accounts. Some Islamic Forex brokers call these accounts Islamic forex accounts or Sharia forex accounts but they are all the same thing. These accounts comply with Islamic religious beliefs because according to the Muslim religion, any business transaction in which one of the parties has to pay or receive some interest from another party is forbidden.
Islamic Forex accounts are also known as swap-free Forex accounts, because, within this kind of account, no swap or roll-over interest will be charged to or incurred on positions that are held overnight.
Islamic Forex accounts are designed specifically for Muslims as swaps contravene their religious beliefs and to clients who don’t wish to be charged swap fees. Islamic accounts give their owners an opportunity to hold their positions for an unlimited amount of time.
Of course trading conditions apply on these accounts so please read Orbex’s terms and conditions around this account type.
Why Open an Account with Best Islamic Forex Broker, Orbex
Respected Islamic forex analyst Ashraf Laidi also vouches for Orbex as the best Islamic forex broker. Ashraf has worked with Orbex on numerous occasions both as an analyst and speaker on Arabic speaking television as well as in person presenting seminars in both Kuwait and Saudi Arabia.
Here are some photos from Ashraf Laidi’s last Orbex seminar:
To open an Islamic swap-free forex account with our best Islamic forex broker, Orbex, click one of the open account buttons on this page and make sure you choose the swap-free account option.