Islamic Account Features

ETFinance offers a Raw Pricing trading account for traders of Islamic faith. No interest fees will be credited or debited to this type of client accounts!

Open Account

Unique way to trade

No interest/swap charges on overnight positions

Instant free access to our trading platforms

No spread widening

Leverage up to 1:400*
(Only for professional clients)

No hidden costs or re-quotes

Same trading environment, unique trading conditions

No upfront commissions

24/5 support from a dedicated account manager

No time limit for holding positions

The best conditions to realize your financial potential

There is a big difference between silver, gold, and platinum accounts and an Islamic Trading Account.

As traders of Islamic faith are forbidden to pay interest in order to abide by the law of Islam, some Forex brokers use swap charges to cover the interest. However, although the charge is transferred to a different type of fee, the meaning is still the same. ETFinance, on the other hand, imposes no additional charges.

This is why thousands choose us as one of the best Islamic Account Forex Broker

Open islamic account See other account types

FAQ

How do I open a trading account?

To create a trading account, click on the ‘Open account’ button on the ETFinance homepage and complete the following steps:

Step 1 – Open account 

Fill in the following fields:

  • First Name 
  • Last Name 
  • Mobile Phone 
  • E-mail Address 
  • Password 

Also, you need to accept our Terms and Conditions, Privacy Policy, and Risk Disclosure

Step 2 – Personal information & Questionnaire

  • Home Address
  • City 
  • Zip or Postal Code 
  • Date of birth 

After filling your personal information, we will ask you to fill in the questionnaire in order to assess whether our products and services are appropriate with your background and experience. Please note that your information will be kept secure and will not be shared with anyone.

Step 3 – Documents & Deposit

In order to verify your account, you will need to submit the following documents:

  • Proof of identity
  • Proof of residence

Once your account is approved, you can make your first deposit via one of the secured payment methods: a credit card, a bank transfer or an e-wallet.

What types of accounts are available?

You can register as Silver, Gold, or Platinum member. Find out more at Account Tiers page.

How long does it take to open an account?

The registration process takes no more than several minutes. After you have provided all the required information and documents, it will take up to 2 business days to verify your account.

Do I need trading experience to open an account?

Trading experience is not required, although it is better to have some prior experience. Trading CFDs involves significant risks. These are complex financial instruments that may not be suitable for all traders and can result in loss of the invested capital. Be sure to not invest more than you can afford to lose. Before trading, please consider your financial background and experience, or seek financial advice, if necessary. For further information please read our Risk Disclosure statement

What is a live account?
This is a trading account where you deposit actual money and trade in real-time. It allows you to enter global markets and trade in CFDs on different assets.
What is a practice account?
Once you are registered, you can also trade in a simulated environment using a practice account with $100k of virtual money. It is designed for practicing your trading skills, polishing your strategies, and testing new techniques. Please remember that it looks just like a live account, so make sure you are indeed trading using the practice environment when practicing.
How long does my practice account last for?
A practice account is available for 7 days.
Can I extend my practice account period?
Yes. If you need more practice before trading live, you can contact your account manager and ask him about renewing your practice account.
Do I risk any real money on a practice account?
No. You use virtual money when trading on a practice account
How to switch between real and practice accounts?
In the Client area you will see both live and practice accounts with respective labels. Once you decide to go live, just click on the "Launch" button of the account labeled "Live".
Award-winning broker

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84,99% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read full Risk Disclosure Statement

ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD registration number HE 360548 authorized and regulated by the Cyprus Securities and Exchange Commission (the "CySEC") under license number 359/18.

Regional Restrictions: MagnumFx (Cyprus) Limited does not offer services to residents of Belgium, United Kingdom, Germany, and Italy.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84,99% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Risk warning