Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

Ranking

Brokers with swap-free (“Islamic”) accounts 2026

Swap-free accounts — which many brokers call Islamic accounts — charge no overnight swap on leveraged positions. What matters is what replaces it: an administration fee per lot and night, wider spreads, or a time limit after which swaps apply after all. The list includes only brokers whose swap-free account a source documents, often only for certain countries, entities or instruments. Whether such an account meets someone's religious requirements is not something we judge — ask a scholar you trust.

Investor's country

Shows only brokers that accept clients from the selected country.

brokers rated: 21
Data as of: 30 Aug 2026

Country of residence:No country of residence chosen — all offers are shown.

Swap-free

The top 3 in detail

Why these three lead — derived from the criteria this category weights most heavily.

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

IG

The most complete leveraged-trading operation in Europe — and it prices like it knows that.

Ahead on Safety & regulation (4.9) and Product range (4.9) — together those two carry 38% of this category's weighting.

Around 17,000 tradable markets in a single account — shares, indices, FX, commodities, bonds, ETFs, turbo warrants and crypto CFDs, subject to regional restrictions
Six top-tier licences — FCA (FRN 195355), BaFin, FINMA, ASIC (AFSL 515106), MAS and JFSA — plus a mid-tier DFSA licence in Dubai; the FINMA licence among those six is a full Swiss banking licence at IG Bank S.A., which puts Swiss cash under esisuisse protection
Zero commission on UK and international shares, and the GBP 24 quarterly custody fee was scrapped outright in January 2026 rather than merely waived for active traders
Platform stack that scales with the trader: web and mobile for most, ProRealTime for charting and backtesting, L2 Dealer for full order-book DMA, plus MT4, TradingView and documented REST/streaming APIs

Group index 100/100Protection depends on your legal entity

FCABaFinFINMAASIC

StocksETFsOptionsFuturesForexCFDsCryptoBonds+5

4.5

Category score

Overall score: 4.5 / 5

Strengths in this category

Fees30%

4.0

Safety & regulation24%

4.9

Trading platform20%

4.7

Product range14%

4.9

Stocks (per order): Free
Minimum deposit: None
FX conversion: 0.8 %

Open account Read review

Investing involves risk. Your capital is at risk.

Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Pepperstone

Raw spreads and five platforms for traders who care about execution cost, not about owning the asset.

4.4

Ahead on Fees (4.6) and Trading platform (4.6) — together those two carry 50% of this category's weighting.

Razor all-in EUR/USD cost of about 0.8 pips - a 0.0 to 0.1 pip raw spread plus USD 3.50 per lot per side
No inactivity fee, no account-keeping fee and no account closure fee, confirmed on Pepperstone's own costs page
Five execution venues on one account: MT4, MT5, cTrader, TradingView and the in-house Pepperstone Platform

Group index 82/100Protection depends on your legal entity

FCAASIC

StocksETFsForexCFDsCrypto+4

Strengths in this category

Fees30%

4.6

Safety & regulation24%

4.4

Trading platform20%

4.6

Stocks (per order): 0.1 % (CFD)
Minimum deposit: US$10
FX conversion: n/a

Open account Read review

Investing involves risk. Your capital is at risk.

XTB

One of the strongest trading platforms in the commission-free bracket - xStation 5 is a professional workspace attached to a zero-commission share account.

4.3

Ahead on Fees (4.2) and Trading platform (4.6) — together those two carry 50% of this category's weighting.

xStation 5 is one of the strongest platforms in the commission-free bracket - a real screener, market heat map, sentiment data, economic calendar and news in one workspace, on web, desktop and mobile with near-identical features.
Commission-free real stocks and ETFs up to EUR 100,000 of turnover per calendar month; above that only the excess is charged at 0.2% with a EUR 10 minimum.
No minimum deposit at all, plus fractional shares, so a monthly savings plan can start at almost any amount.

Group index 72/100Protection depends on your legal entity

FCAKNF

StocksETFsOptionsForexCFDs+3

Strengths in this category

Fees30%

4.2

Safety & regulation24%

4.2

Trading platform20%

4.6

Stocks (per order): Free
Minimum deposit: None
FX conversion: 0.5 %

Open account Read review

Investing involves risk. Your capital is at risk.

Also worth a look

Rank 4 and below, ordered by category score.

IC Markets

4.2

One of the cheapest routes to raw institutional FX pricing - as long as you check which entity you are signing with.

Algorithmic and EA traders
Scalping and high-frequency FX

Stocks (per order): 0.1 % (CFD)
Minimum deposit: €200
FX conversion: n/a

StocksFuturesForexCFDs+5

Pros: All-in EUR/USD cost of roughly 0.6 to 0.8 pips on Raw Spread - a 0.0 to 0.1 pip raw spread plus USD 3.50 per lot per side
Cons: Most non-EU, non-Australian clients contract with Raw Trading Ltd under Seychelles licence SD018 - an offshore regulator with no investor compensation scheme behind it

Group index 70/100

ASICCySEC

Protection depends on your legal entity

Visit broker Read review

Capital.com

4.3

A polished retail CFD platform in Europe, provided you accept that CFDs are the whole product.

Active CFD traders
Forex day trading

Stocks (per order): in the spread
Minimum deposit: US$20
FX conversion: 0.7 %

StocksETFsForexCFDs+4

Pros: No commission on any CFD and no inactivity fee whatsoever — unusual in the CySEC/FCA CFD segment
Cons: 0.7% currency conversion markup on every trade settled outside your base currency — the single largest hidden cost here

Group index 77/100

FCAASIC

Protection depends on your legal entity

Visit broker Read review

ThinkMarkets

4.1

Raw-spread pricing, six licences and a strong mobile app - held back by its withdrawal record.

Active FX traders
Mobile-first traders

Stocks (per order): in the spread (CFD)
Minimum deposit: None
FX conversion: n/a

StocksETFsForexCFDs+4

Pros: ThinkZero all-in EUR/USD cost of about 0.8 pips - raw spreads from 0.0 pips plus USD 3.50 per lot per side on forex and metals
Cons: 75 percent of ThinkMarkets UK retail accounts lose money trading CFDs, and disclosures across the group's entities have ranged from roughly 68 percent to 89 percent

Group index 79/100

FCAASIC

Protection depends on your legal entity

Visit broker Read review

Dukascopy Bank

4.0

A real Swiss bank running a real ECN — with a tariff sheet that punishes anyone who moves money often.

Experienced ECN and algorithmic FX traders
Clients who want a bank, not a broker

Stocks (per order): 0.06 % (CFD)
Minimum deposit: US$100
FX conversion: n/a

StocksETFsForexCFDs+4

Pros: Licensed by FINMA as both a bank and a securities firm — full Swiss banking supervision, capital requirements and audit obligations, not a CFD-broker permission
Cons: Bank transfer withdrawals are priced per currency and rail — EUR 2.3 over SEPA up to EUR 20, USD 19 up to USD 35, and nominally much more in minor currencies such as HUF 5,500 or JPY 2,500 — and card withdrawals add EUR 1.5 plus 2.5%; cash movement is the single worst part of the tariff

Group index 82/100

FINMAJFSA

Protection depends on your legal entity

Visit broker Read review

OANDA

4.1

Thirty years, six top-tier licences and one of the strongest mobile apps in FX - attached to spreads you have to work around.

Beginners
Mobile-first traders

Stocks (per order): 0.06 % (CFD)
Minimum deposit: None
FX conversion: 1 %

StocksETFsForexCFDs+6

Pros: Regulated by six tier-1 authorities - CFTC/NFA, FCA (542574), CIRO, ASIC (AFSL 412981), MAS and the JFSA - a licence footprint almost nobody in retail FX matches
Cons: The default spread-only account is expensive: EUR/USD has been measured at 1.4 to 1.7 pips against roughly 0.8 pips all-in at raw-spread competitors

Group index 89/100

CFTC/NFAFCA

Protection depends on your legal entity

Visit broker Read review

ActivTrades

4.0

A twenty-five-year-old London CFD house that buys extra insurance for your money and charges nothing to hold it.

Safety-conscious CFD traders
MetaTrader and TradingView users

Stocks (per order): in the spread (CFD)
Minimum deposit: None
FX conversion: 0.5 %

StocksETFsForexCFDs+5

Pros: FCA licence 434413 held since 2005, plus a CMVM-regulated EU entity, an SCB entity and a Brazilian brokerage - one of the longest continuous track records in retail CFDs
Cons: 82 percent of ActivTrades retail accounts lose money on CFDs - the highest disclosed rate among the fourteen FCA-regulated CFD brokers surveyed by The Investors Centre in 2026, against a 69.9 percent mean

Group index 68/100

FCACMVM

Protection depends on your legal entity

Visit broker Read review

eToro

4.0

One of the most complete copy-trading products in Europe, wrapped in a notably simple broker app - and paid for through conversion charges rather than commissions.

Copy trading
Crypto plus stocks in one account

USD 100,000 virtual — Demo account with USD 100,000 in virtual funds

Stocks (per order): US$1
Minimum deposit: US$50
FX conversion: 0.75 %

StocksETFsForexCFDs+4

Pros: CopyTrader is one of the most mature copy-trading products in Europe: no separate fee on top of normal trading costs, a USD 200 minimum per copied trader, and up to 100 traders copied at once.
Cons: Currency conversion costs 0.75% each way between a European local-currency account and USD, before Club discounts whose size eToro's own pages state differently - for a broker whose core product is USD-denominated, that is the one number you most need.

Group index 91/100

FCAASIC

Protection depends on your legal entity

Visit broker Read review

Axi

3.9

A 2007-vintage Australian FX broker that has quietly become one of the better all-round CFD platforms — if you check which entity you sign with.

Active FX and CFD traders
Copy-trading followers and signal providers

Stocks (per order): in the spread (CFD)
Minimum deposit: US$100
FX conversion: n/a

StocksETFsForexCFDs+4

Pros: Pro account at USD 4.50 round turn per standard lot on 0.0-pip spreads, available from a USD 100 minimum rather than a five-figure balance
Cons: Most international clients are booked with AxiTrader LLC in St Vincent and the Grenadines — no prudential supervision, no compensation scheme, and The Financial Commission rather than a regulator as escalation

Group index 71/100

ASICFCA

Protection depends on your legal entity

Visit broker Read review

FxPro

3.9

A platform-rich, FCA-regulated CFD broker aimed at algo traders and cTrader loyalists — priced in the middle, not at the bottom.

Algorithmic traders
cTrader users

Stocks (per order): in the spread (CFD)
Minimum deposit: US$100
FX conversion: n/a

ForexCFDsCryptoCommodities+1

Pros: FCA authorisation under firm reference 509956 with FSCS cover to GBP 85,000, plus a CySEC licence (078/07) for EU clients with EUR 20,000 ICF cover.
Cons: The Standard account is not cheap: EUR/USD averages around 1.4 pips with independent measurements running as high as 1.6, well above a raw-spread account's all-in cost.

Group index 75/100

FCACySEC

Protection depends on your legal entity

Visit broker Read review

Tickmill

3.9

A tight-spread MetaTrader broker that quietly turned into a futures and multi-asset shop.

Active forex and CFD traders
Scalpers and Expert Advisor users

Stocks (per order): in the spread
Minimum deposit: US$100
FX conversion: 0.01 %

StocksETFsOptionsFutures+7

Pros: Raw account priced at USD 3 per lot per side with EUR/USD spreads measured at 0.1 pips — roughly USD 7 all-in per standard-lot round turn
Cons: The entire retail offering runs on MetaTrader 4 and 5 — dated design, a thin news feed, and no two-step or biometric login on the mobile app

Group index 70/100

FCACySEC

Protection depends on your legal entity

Visit broker Read review

Vantage Markets

3.9

The offshore CFD broker that kept the tier-1 licences and built its own platform instead of renting MetaTrader.

Raw-spread FX traders
TradingView users

Stocks (per order): in the spread (CFD)
Minimum deposit: US$50
FX conversion: n/a

StocksETFsForexCFDs+5

Pros: RAW ECN gives 0.0 pip spreads for USD 3 per lot per side (USD 6 round turn) on a USD 50 minimum, where most brokers gate raw pricing behind far larger deposits
Cons: Most international clients are onboarded to Vantage International Group (CIMA) or Vantage Global Limited (VFSC), where no investor compensation scheme applies

Group index 78/100

ASICFCA

Protection depends on your legal entity

Visit broker Read review

AvaTrade

3.9

A heavily licensed, fixed-spread CFD house built for beginners and copy traders — and unusually expensive if you go quiet.

Beginners
Copy trading

Stocks (per order): in the spread (CFD)
Minimum deposit: US$100
FX conversion: n/a

OptionsForexCFDsCrypto+3

Pros: Nine regulated entities, from Ireland and Cyprus to Japan, South Africa and Kenya, with the EU book run from Ireland under Central Bank of Ireland reference C53877 and Investor Compensation Company cover of 90% of losses up to EUR 20,000.
Cons: Dormancy is punitive: USD 50 charged quarterly after just three consecutive months without a trade, plus a USD 100 annual administration fee after twelve months. Most competitors wait six to twenty-four months.

Group index 71/100

CBIASIC

Protection depends on your legal entity

Visit broker Read review

Quick comparison

The numbers that decide this category, side by side. Scroll right on narrow screens for every column.

Brokers with swap-free (“Islamic”) accounts — Quick comparison
Broker	Category	Overall	Fees30%	Safety & regulation24%	Trading platform20%	Stocks (per order)	Minimum deposit	Regulation	Action
1IG	4.5	4.5	4.0	4.9	4.7	Free	None	FCABaFin, FINMA, ASIC, MAS, JFSA, DFSA	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
2Pepperstone	4.4	4.4	4.6	4.4	4.6	0.1 % (CFD)	US$10	FCAASIC, BaFin, CySEC, DFSA, SCB, CMA	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
3XTB	4.3	4.3	4.2	4.2	4.6	Free	None	FCAKNF, CySEC, CNMV, DFSA, FSCA, FSC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
4IC Markets	4.3	4.2	4.7	3.9	4.5	0.1 % (CFD)	€200	ASICCySEC, FSCA, FSA, SCB, CMA	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
5Capital.com	4.2	4.3	4.4	4.3	4.3	in the spread	US$20	FCAASIC, CySEC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
6ThinkMarkets	4.2	4.1	4.4	4.1	4.3	in the spread (CFD)	None	FCAASIC, JFSA, CySEC, FSCA, FSA	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
7Dukascopy Bank	4.1	4.0	3.4	4.8	4.6	0.06 % (CFD)	US$100	FINMAJFSA, Latvijas Banka	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
8OANDA	4.0	4.1	3.5	4.7	4.2	0.06 % (CFD)	None	CFTC/NFAFCA, ASIC, CIRO, MAS, JFSA, KNF, BVI FSC	Visit broker Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.

Our methodology

How we build this ranking

No editorial gut feeling — a published calculation. This category shifts the weights of our rating model towards what its audience actually needs.

Weighting in this category

21 brokers rated

The pale tick marks the weight in the general Brokaro model.

Category weight
Base model

The formula

The category score is 70% the category-specific weighting and 30% the general overall score. A strong all-rounder therefore does not drop out simply because it fails to lead one single criterion.

Category score = 0.7 × Σ(w_i × s_i) + 0.3 × Overall score

Full methodology

Requirements to be listed

No pre-filter: every broker we assigned to this category is rated.

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