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Looking to find out which forex prop trading firm offers swap-free trading accounts? Not all prop firms offer an Islamic Forex account, but those that do open up trading to millions of Muslim investors. See below the top valued Islamic-friendly prop firms with halal trading platforms and swap-free accounts, thoroughly examined and selected by our expert analysts.
Best Prop Firms that Offer Swap-Free Accounts

What is the Swap-Free Account

Forex swaps also known as overnight fees are interest payments that a trader either earns or pays for holding a trade overnight.

Swaps are charged by the prop trading firms once a day usually between 23:00 and 0:00 "server time" which most of the time is 5 pm New York time.

Why do Prop Trading Firms offer such accounts?

In response to religious considerations in finance, particularly within Islamic finance where interest payments are prohibited, prop firms have introduced swap-free accounts and this is the reason why they are often referred to as "Islamic" or "Shariah" accounts. In such accounts, the prop firm charges a fixed fee regardless of whether the Forex pair has a positive or negative swap rate respecting traders' beliefs.

swap-free shariah Islamic accounts

How Does Swap Affect My Trading?

Forex swap is often underestimated in trading. It affects your trades through interest payments and can impact profitability. Being aware of swap rates helps optimize your strategy and seize favorable opportunities in the market.

Prop Trading Firms' Halal Compliance

Is forex prop trading halal or haram in Islam? Sharia law prohibits the following activities:

  • Overnight rollover
  • Forward sales and short
  • Margin deposit and interests
  • Loan
  • Margin trading

Best Prop Firms that Offer Swap-Free Accounts

Swap-Free Accounts. A complete list of Prop firms allowing Swap-Free Accounts. This summary is updated; however, sometimes there are changes. Always confirm them with your prop firm.
Prop Firm Swap-Free Accounts
FTMO
the5ers
OspreyFX
FundedNext
FidelCrest
Lux Trading Firm
My Forex Funds
MyFundedFX
True Forex Funds
Alpha Capital Group
Finotive Funding
FTUK

No-Swap Period: Please keep in mind that some prop firms will only allow you a limited amount of time in which you can trade swap-free. This is known as no-swap or swap-free periods.

Prop Firms that DON’T Offer Swap-Free Accounts (yet)

Swap-Free Accounts. A complete list of Prop firms Not allowing Swap-Free Accounts (Yet). This summary is updated; however, sometimes there are changes. Always confirm them with your prop firm.
Prop Firm Swap-Free Accounts
FunderPro
UltraCap Trading
Toptier Trader
SabioTrade
Topstep
Earn2Trade
E8 Funding
City Traders Imperium
The Trading Pit
The Funded Trader
SurgeTrader
Nations Trading
Smart Prop Trader
Super Funded
Funding Pips
ThorFX
Goat Funded Trader
Ment Funding
Funded Trading Plus
Alphachain
Audacity Capital
Bespoke Funding
Blue Guardian
BluFX
BuoyTrade
Leveled Up Society
Funded Academy

How to open a Swap-Free Islamic Prop Trading account in 2 simple steps

  • Verify your account: send all the relevant documentation to the prop firm.
  • Wait for Approval: after applying for an Islamic account that operates under the Sharia Law your request will then be forwarded to the relevant department of the prop firm for review and approval. Requests are usually processed within 1-2 business days.

FAQs on Prop Firms Swap-Free Accounts

What is a Swap-Free prop trading account?
A swap-free prop trading account is an account that you do not pay or earn swap or interest on any trades you place with the prop firm for a position kept open overnight.
Can I avoid swap in Prop Trading?
Yes you can avoid swap given that you select a prop firm that allows opening a swap-free account, normally known as Islamic or Shariah accounts, which normally charge a fixed fee instead of swap.
Are all traders eligible for a swap-free account?
No, prop trading firms do not provide swap-free accounts just to anyone, they need proof of your religion.
Is prop trading permissible in Islam?
Yes, making money through trading is permissible in Islam, as long as the trading is conducted in accordance with Islamic principles. Having said that even the so-called “Islamic” accounts are not free from problematic elements, for example metals are generally traded through CFDs which are not compliant.
Is forex prop trading halal or haram in Islam?
Prop Trading is not haram, provided that swaps are removed you have a 1:1 leverage on that account and avoid problematic elements involving the trading assets, then your trading becomes validated according to Sharia law.

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Posted by
George Milios

George Milios

Lead Generation & Business Growth Specialist

Helping Companies Scale their Organic Traffic & Conversions over the long-term by implementing strategies that work. In addition, George is an avid cryptocurrency researcher, advisor, investor, and trader.

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