Best Islamic Crypto Brokers
Crypto raises its own questions for Muslim traders. Beyond the general concern about interest (riba), crypto markets trade every day of the week, prices move sharply, and many brokers only offer crypto as leveraged CFDs. That changes how swap-free accounts work in practice, and what they cost.
In this guide, we compare the best Islamic crypto brokers by how you hold crypto, what replaces the overnight swap on crypto positions, and how weekends affect the cost. For forex and other markets, see our guide to the best Islamic forex brokers.
Islamic Crypto Brokers Compared
| Broker | How you hold crypto | Charge instead of swaps on crypto |
|---|---|---|
| Exness | CFDs | None in eligible Islamic countries |
| eToro | Real crypto or CFDs | None on real crypto; CFDs $6 per $10,000 per day after 7 days |
| IC Markets | CFDs | Daily holding fee per lot after up to 5 days |
| XM | CFDs | None listed for crypto in XM's Islamic terms |
| Tickmill | CFDs | 10% yearly swap on long positions after 5 days |
Swap-free terms change regularly and can differ by the broker entity you register with, so always check the broker's current terms before trading.
What Makes Islamic Crypto Trading Different
Real Crypto vs Crypto CFDs
When you buy real crypto, you own the coin, there is no leverage and no overnight financing, so the question of swaps does not arise. Most brokers, however, offer crypto as CFDs, which are leveraged contracts on the price. Leveraged CFD positions are what normally incur overnight swaps, and what swap-free accounts and their replacement fees apply to. Some scholars are more comfortable with owning the asset outright than with leveraged contracts, which our article on whether forex trading is halal discusses in more detail.
Weekends Count
Crypto trades seven days a week, so brokers usually count every calendar day for crypto positions, including Saturdays and Sundays. A grace period of five or seven days therefore runs out faster in real time than it does on forex, where only weekdays usually count.
The Account Is Not the Coin
A swap-free account only addresses how overnight financing is charged. It says nothing about whether a particular cryptocurrency or project is permissible, which depends on what the coin is used for and how it works. If you are unsure, consult a qualified Islamic scholar about the specific assets you plan to trade.
Exness: Swap-free Crypto Without Replacement Charges
Exness applies swap-free status automatically to accounts registered in one of 33 eligible Islamic countries, on every account type and every instrument, including all crypto CFDs. Exness confirmed to us that no additional charges are applied in place of swaps on these accounts.
Outside the eligible Islamic countries, all cryptocurrencies are still on Exness's list of swap-free instruments. For these clients, however, Exness monitors trading behaviour, and regularly holding large positions open overnight or trading mostly outside trading hours can lead it to cancel swap-free status on all accounts. Exness supports MetaTrader 4, MetaTrader 5, the Exness Terminal and the Exness Trade app. Read our Exness Islamic account review for more detail.
Your capital is at risk. Leveraged products may not be suitable for everyone.
Terms and conditions apply. Subject to regional availability.
eToro: Real Crypto or Crypto CFDs
eToro is the only broker in this list where you can buy real crypto as well as trade crypto CFDs. According to eToro, positions backed by the underlying asset are not charged administrative fees, so owning real crypto avoids them. eToro presents its offer as a swap-free account rather than a Sharia compliant account with a minimum deposit of $1,000.
Crypto CFDs on a swap-free account are charged an administrative fee of $6 per $10,000 of exposure per day once a seven day grace period ends. For crypto CFDs, every calendar day counts toward the grace period, including weekends, and there is no triple fee day. For example, a $5,000 crypto CFD position held past the grace period costs $3 per day. Exposure is assessed each night at that day's closing price, and fees can change without notice. Read our eToro swap-free account review for more detail.
55% of retail investor accounts lose money when trading CFDs with this provider.
Terms and conditions apply. Subject to regional availability.
IC Markets: Published Crypto Holding Fees
IC Markets offers its swap-free option on Raw Spread and Standard accounts and publishes a holding fee for each crypto CFD. After a grace period of up to five days, it charges a flat fee per lot for each calendar day a position stays open, including weekends.
At the time of writing, IC Markets lists a daily holding fee of $46.21 per lot on BTCUSD and $1.50 per lot on ETHUSD, so holding Bitcoin for longer periods can become expensive. Under its swap-free terms, the account is intended for clients who cannot use swaps because of their religious beliefs, IC Markets may ask for proof of need, and requesting it converts all of your live accounts to swap-free.
72.31% of retail CFD accounts lose money.
Terms and conditions apply. Subject to regional availability.
XM: Islamic Option on All Account Types
XM offers an Islamic option as standard on all of its account types, with the same spreads and conditions as its regular accounts. According to XM's Islamic account terms, fair value adjustments apply to positions held overnight on CFDs on cash energies and spot metals. Crypto is not listed among them, but the current rates are shown in the Members Area, so check them before holding crypto positions for longer periods.
Requesting Islamic status converts all of your real XM accounts to swap-free, XM may ask for proof that you need the account, and it can revoke the status at any time. Read our XM Islamic account review for more detail.
75.12% of retail investor accounts lose money when trading CFDs with this provider.
Terms and conditions apply. Subject to regional availability.
Tickmill: Five Swap-free Days on Crypto
Tickmill lets clients convert any Classic or Raw account to an Islamic account through the Client Area or by contacting support. Crypto is treated differently from other instruments: new crypto positions get five swap-free days, after which a yearly swap of 10% applies to long positions.
In practice, Tickmill's own example shows a long position of 1 BTCUSD at a price of $66,200 costing around $18.40 per day after the five days. This makes Tickmill suitable for short term crypto trades, but not for holding long crypto positions on a swap-free basis. Tickmill supports MetaTrader 4, MetaTrader 5, TradingView and Tickmill Trader.
72-73% of retail investor accounts lose money when trading CFDs with this provider.
Terms and conditions apply. Subject to regional availability.
What to Check Before Trading Crypto on an Islamic Account
- Real asset or CFD: Decide whether you want to own crypto or trade leveraged contracts, as this affects both cost and how some scholars view the trade.
- Charges after the grace period: Crypto holding fees can be much higher than on forex, so check the daily cost for your coin.
- Calendar days: Check whether weekends count toward the grace period, as they usually do for crypto.
- Long and short positions: Some brokers charge only long crypto positions, while others charge both.
- The coin itself: A swap-free account does not make any specific cryptocurrency permissible, so research the assets you trade.
Final Thoughts
For Muslim traders who want to hold crypto for longer, owning real crypto on eToro avoids administrative fees, while Exness stands out for crypto CFDs in eligible Islamic countries because no charges replace the swap. XM's Islamic terms list no adjustments on crypto, although its current rates are worth checking in the Members Area. IC Markets publishes clear crypto holding fees after a short grace period, and Tickmill suits shorter term crypto trades.
Whichever broker you choose, check its current crypto terms, count weekends when planning how long to hold a position, and consult a qualified scholar about the specific assets you trade.
Frequently Asked Questions
Views differ. Many scholars focus on avoiding interest, excessive uncertainty and gambling, and some are more comfortable with owning crypto outright than with leveraged CFDs. A swap-free account addresses only the interest element, so consult a qualified Islamic scholar about your trading and the specific coins involved.
On eToro, real crypto you own is not charged administrative fees. For crypto CFDs, Exness confirmed that no charges replace the swap on accounts in eligible Islamic countries. Spreads and other trading costs still apply.
Usually yes. eToro counts every calendar day for crypto CFDs, and IC Markets charges its holding fee for calendar days including weekends, so grace periods run out faster than on forex.
It depends on the broker. At the time of writing, IC Markets charged $46.21 per lot per day on BTCUSD after the grace period, eToro $6 per $10,000 of exposure per day on crypto CFDs, and Tickmill a 10% yearly swap on long positions after five days.
No. A swap-free account only removes overnight interest. Whether a specific coin or project is permissible is a separate question to research and discuss with a qualified scholar.
Top-Tier Trusted Brokers
The table below contains links to 3rd party websites of our top partners from whom we receive compensation at no additional cost to you.
