Overview: Exness Islamic account
Exness, established in 2008, takes a unique approach to Islamic trading: swap-free status is applied automatically for clients from eligible countries, with no application or proof of religion required. This makes it the most accessible Islamic broker option available.
Pros & cons
Pros
- Automatic swap-free
- $10 minimum deposit
- Instant withdrawals 24/7
- Competitive spreads
- Unlimited on Standard
Cons
- MT4/MT5 only
- Offshore entity for some clients
- Storage fee possible on exotics
Swap-free structure
The Standard account is fully swap-free with no time limit and no admin fee on most instruments. The Raw Spread and Zero accounts also receive swap-free status but may incur a "storage fee" on certain instruments held for extended periods. Exness discloses which instruments fall under the extended swap-free category versus the standard category.
| Swap-free model | Extended swap-free (automatic) |
| Availability | Automatic for eligible countries |
| Time limit | Unlimited on Standard |
| Admin fee | None on Standard; storage fee possible on long holds |
| Islamic account types | Standard, Raw Spread, Zero |
Hidden fee analysis
On Standard accounts, we found no hidden fees that replicate interest. On Raw accounts, the storage fee on some instruments merits scrutiny -- while it is disclosed, traders should verify the specific instruments they trade. The Standard account is the cleanest option for compliance-conscious traders.
Regulation & safety
CySEC 178/12 (EU), FSCA FSP 51024 (South Africa), FSA SD025 (Seychelles). UK clients typically fall under the CySEC or offshore entity depending on application.
| Regulators | CySEC, FSCA, FSA |
| Licences | CySEC 178/12, FSCA FSP 51024 |
| Min deposit | $10 |
| Max leverage | 1:2000 |
| Spreads from | 0.0 pips (Raw) |
| Platforms | MT4, MT5 |
Platforms
Exness supports: MT4, MT5.