In this comprehensive guide, you’ll find everything you need to confidently choose the best swap-free (Islamic) forex account broker in Singapore for 2025.
This handpicked list features brokers offering Shariah-compliant conditions, including no overnight interest charges—perfect for Muslim traders. Each platform blends trustworthiness with powerful trading tools and Singapore-friendly features like SGD funding and regional support, so you can trade in line with your beliefs without sacrificing performance or ease of use.
If you’re a Singaporean trader searching for a broker that aligns with your trading values — especially if you’re looking to avoid overnight interest charges (swaps) — you’re in the right place.
In this extensive review, you will learn about the following:
- What is a Swap-Free Account Broker?
- The 8 Best Swap-Free Account Brokers in Singapore
- Advantages and Disadvantages of the Best Swap-Free Account Brokers in Singapore
- Frequently Asked Questions About The Best Swap-Free Account Brokers in Singapore
- Andre Hanekom
- 21 August 2025
8 Best Swap-Free Account Brokers in Singapore – Comparison
| 🔍Broker | 🫴🏻Swap-Free Account | 🚀Open an Account | 💵Minimum Deposit | ⬆️Maximum Leverage |
| 🥇Tickmill | Yes | 👉 Click Here | 135 SGD (100 USD) | 1:1000 |
| 🥈FxPro | Yes | 👉 Click Here | 135 SGD (100 USD) | 1:500 |
| 🥉AvaTrade | Yes | 👉 Click Here | 135 SGD (100 USD) | 1:30 (Retail), 1:400 (Pro) |
| 🏆IC Markets | Yes | 👉 Click Here | 270 SGD (200 USD) | 1:1000 |
| 🥇FP Markets | Yes | 👉 Click Here | 90 SGD (100 AUD) | 1:500 |
| 🥈FXTM | Yes | 👉 Click Here | 14 SGD (10 USD) | 1:2000 |
| 🥉Exness | Yes | 👉 Click Here | 14 SGD (10 USD) | 1:Unlimited |
| 🏆HFM | Yes | 👉 Click Here | 0 SGD (0 USD) | 1:2000 |
What is swap free account?
A swap-free account, often called an Islamic account, is a special type of trading account designed for traders who want to avoid paying or earning interest on overnight positions. This is especially helpful for those who follow Islamic finance principles, where interest (riba) is not allowed. Instead of charging swap fees, brokers may apply other fixed charges. Swap-free accounts make it easier for traders to hold positions long-term without worrying about interest costs, while still accessing global trading opportunities.
8 Best Swap-Free Account Brokers in Singapore (2025)
- Tickmill – Overall, The Best Swap-Free Account Broker in Singapore
- FxPro – Best Low Spreads
- AvaTrade – Best CFD Broker
- IC Markets – Best MT5 Broker
- FP Markets – Best Forex Partners Program
- FXTM – Exceptional Customer Service
- Exness – Best Multi-Asset Broker
- HFM – Best Trading Accounts
Tickmill
 | Minimum Deposit: $10 Regulated by: CySEC, FCA, FSA, FSCA Leverage: Up to 1:1000 |
Overview
Tickmill is a trusted global broker that’s earned a strong reputation among Singaporean traders for its low-cost, no-nonsense approach to trading. With a minimum deposit of just 135 SGD (100 USD), it’s accessible to beginners while still offering the advanced tools that seasoned traders need.
One of the standout features for those looking to trade in a Shariah-compliant way is Tickmill’s swap-free account option. This lets traders avoid overnight interest charges while still enjoying the same low spreads (from 0.0 pips) and fast execution available on their regular accounts. The account can be requested easily and is available on both Classic and PRO account types.
Tickmill runs on the reliable MetaTrader 4 and 5 platforms and offers a solid selection of forex pairs and CFDs. While it isn’t MAS-regulated, it is licensed by respected authorities like the FCA and CySEC, giving traders peace of mind. Overall, it’s a solid and fair choice.
Unique Features
| ⌛Regulation | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA, DFSA |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Classic, Raw |
| 🗂️Account Types Eligible for Islamic | All |
| ➡️Starting spread | From 0.0 pips |
| 💴Minimum Commission per Trade | $1 per side, per standard lot traded |
| 💵Minimum Deposit | 135 SGD (100 USD) |
| 📊Trading Platforms | MetaTrader 4, MetaTrader 5, CQG, Tickmill App |
| 🛢️Financial Instruments Offered | Forex, stock indices, energy indices, precious metals, bonds, cryptocurrencies, stocks, ETFs |
| ⬆️Maximum Leverage | 1:1000 |
| 🫴🏻Currency Pairs | 62, major, minor, and exotic pairs |
| 🕰️Customer Support Hours | 24/5 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Ultra-Low Spreads – Spreads start from 0.0 pips on Raw accounts, making it ideal for scalping and high-volume trading. | Not MAS-Regulated – Although safe and regulated elsewhere, Tickmill does not hold a local license in Singapore. |
| Swap-Free (Islamic) Account Available – Shariah-compliant accounts are available on all account types, with no overnight interest charges. | Limited Educational Resources – Beginner traders may find the learning materials and tools a bit basic compared to some competitors. |
| Strong Global Regulation – Licensed by FCA (UK), CySEC (EU), FSCA (South Africa), DFSA (Dubai), Labuan FSA, and Seychelles FSA — ensuring safety and transparency. | No Copy Trading Platform – Tickmill doesn’t offer built-in copy/social trading features like some other brokers. |
| Fast Execution on Reliable Platforms – Supports MT4, MT5, CQG, and the Tickmill app for efficient, stable trading. | Handling Fee on Islamic Accounts – While interest-free, Islamic accounts may incur a fixed fee after a few days of holding positions. |
| Wide Range of Instruments – Trade forex, indices, metals, oil, bonds, stocks, ETFs, and cryptocurrencies — all from a single account. | Minimum Deposit for Raw Account – The Raw account requires a $100 deposit, which may be slightly high for some new traders compared to brokers offering micro accounts. |
Frequently Asked Questions
Is Tickmill a regulated and safe broker to trade with?
Yes, Tickmill is a well-regulated broker. It is authorized by several top-tier financial regulators including the FCA (UK), CySEC (Cyprus), and FSCA (South Africa). These licenses ensure client fund protection, transparency, and compliance with international trading standards. Many traders consider Tickmill a trustworthy and low-risk option.
Does Tickmill offer a swap-free (Islamic) account?
Yes, Tickmill offers Islamic swap-free accounts for traders who follow Shariah law. These accounts do not charge or earn interest on overnight positions. You can request to enable swap-free status on your account by contacting their support after opening a live trading account.
FxPro
 | Minimum Deposit: $100 Regulated by: FCA, SCB Leverage: Up to 1:500 |
Overview
FxPro is a well-regarded London-based broker with a solid reputation among Singaporean traders, offering both forex and CFD trading across more than 2,200 instruments—including currencies, stocks, commodities, indices, and cryptocurrencies.
Licensed by top regulators like the UK’s FCA, CySEC, FSCA (South Africa), and SCB (Bahamas), it maintains strong fund protection with segregated accounts and negative balance safeguards.
Traders can choose from MT4, MT5, cTrader, or the proprietary FxPro Edge/Web and mobile apps, with algorithmic trading support especially robust on cTrader.
Swap-free (Islamic) accounts are also available across platforms with no added deposit minima or spread widening. While execution is fast and transparent—with over 83 % of market orders filled at or better than requested price—the platform’s pricing is slightly above the ultra-low‑cost tier and educational resources are average. Overall, FxPro remains a secure, versatile broker with strong tech backing.
Unique Features
| ⌛Regulation | FCA, CySEC, SCB, FSCA, FSC |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Standard, Pro, Raw+, Elete/ECN |
| 🗂️Account Types Eligible for Islamic | All |
| ➡️Starting spread | 0.0 pips |
| 💴Minimum Commission per Trade | $7 Round turn on Forex |
| 💵Minimum Deposit | 135 SGD (100 USD) |
| 📊Trading Platforms | FxPro Edge, MetaTrader 4, MetaTrader 5, cTrader, FxPro App |
| 🛢️Financial Instruments Offered | Forex, futures, indices, shares, metals, energies, crypto CFDs |
| ⬆️Maximum Leverage | 1:500 |
| 🫴🏻Currency Pairs | 70; major, minor, exotic pairs |
| 🕰️Customer Support Hours | 24/5 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Strong Global Regulation – Regulated by FCA, CySEC, FSCA, and SCB, ensuring a high level of trust and fund protection. | Not MAS-Regulated – FxPro is not licensed by the Monetary Authority of Singapore (MAS), which may concern local traders. |
| Diverse Trading Platforms – Offers MetaTrader 4, MetaTrader 5, cTrader, and its own FxPro platform, catering to different trader preferences. | Higher Commissions on Raw Accounts – $7 round-turn commission on Raw+ accounts may be higher compared to some brokers. |
| Swap-Free Islamic Accounts – Available on all account types without markup or hidden charges, ideal for Muslim traders. | Limited Leverage in Regulated Regions – Leverage for retail traders under FCA or CySEC is capped at 1:30 unless classified as professional. |
| Wide Range of Instruments – Trade 70+ currency pairs, stocks, indices, metals, energies, futures, and crypto CFDs — all from one account. | Average Educational Tools – Learning resources and market analysis are not as extensive as competitors like IG or XM. |
| Fast and Reliable Trade Execution – Over 80% of market orders are filled at or better than the requested price, with low latency. | Inactivity Fee – A monthly fee applies to dormant accounts after a certain period, which can surprise inactive users. |
Frequently Asked Questions
Is FxPro a safe and well-regulated broker?
Yes, FxPro is considered a very safe broker. It’s regulated by trusted financial authorities like the FCA in the UK, CySEC in Europe, and FSCA in South Africa. This means your funds are handled securely, and you’re protected from going into negative balance. FxPro also keeps client money in separate bank accounts for extra safety. Just note: if you’re in South Africa, you might be signed up under their Bahamas branch, which has slightly different protections.
Can Muslim traders use FxPro’s Islamic accounts?
Absolutely. FxPro offers swap-free Islamic accounts for traders who want to avoid interest (Riba) in line with Shariah law. You can use this account type on platforms like MT4 or cTrader. However, after a few days of holding a position, a fixed fee might apply instead of swaps. So while it’s still halal-friendly, it’s good to understand how the fees work over time.
AvaTrade
 | Minimum Deposit: $100 Regulated by: CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ Leverage: Up to 1:400 |
Overview
AvaTrade is a globally trusted online broker offering an extensive suite of CFDs across forex, stocks, indices, commodities, metals, ETFs, and cryptocurrencies—over 1,250 instruments in total.
Known for its award-winning mobile app AvaTradeGO, plus support for MT4, MT5, and the proprietary WebTrader, it caters well to both beginners and seasoned traders. Swap‑free (Islamic) accounts are available, though they may include slightly wider spreads and are limited to select instruments. Spreads begin around 0.9 pips on majors, with no commissions on most trades, but be aware of inactivity fees after three months of dormancy.
Regulation is solid, with licenses from ASIC, CySEC, FSCA, and CBI, supporting negative balance protection. While execution is reliable and the educational resources rich—webinars, guides, and market insights—it’s worth noting that spreads are not the tightest in the market. Overall, AvaTrade offers a well-rounded, secure platform ideal for diverse trading needs.
Unique Features
| ⌛Regulation | Central Bank of Ireland (CBI), BVI, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, IIROC |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Retail Account |
| 🗂️Account Types Eligible for Islamic | Retail Account, Professional Account |
| ➡️Starting spread | 0.9 pips EUR/USD Standard Account |
| 💴Minimum Commission per Trade | None; only the spread is charged |
| 💵Minimum Deposit | 135 SGD (100 USD) |
| 📊Trading Platforms | AvaTrade WebTrader, AvaOptions, AvaTradeGO, MetaTrader 4, MetaTrader 5, AvaSocial, DupliTrade, ZuluTrade |
| 🛢️Financial Instruments Offered | Forex, Stocks, Commodities, Crypto CFDs, Treasuries, Bonds, Indices, Exchange-Traded Funds (ETFs), Options, Precious Metals, CFDs |
| ⬆️Maximum Leverage | 1:30 (Retail), 1:400 (Pro) |
| 🫴🏻Currency Pairs | 50 – 70; Major, Minor, Exotic Pairs |
| 🕰️Customer Support Hours | 24/5 via multiple channels |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Offers multiple trading platforms including MT4, MT5, WebTrader, AvaOptions, AvaTradeGO, and social/copy tools like AvaSocial, ZuluTrade, DupliTrade, tailored to different trading styles | Spreads Are Average Fixed spreads start around 0.9 pips on EUR/USD—higher than ultra-low spread brokers |
| Wide Asset Selection Trade over 1,200 instruments, including forex (50+ pairs), stocks, indices, commodities, ETFs, bonds, options, futures, and crypto CFDs | Inactivity Fees Applied, Charges a fee after 3 months of dormancy ($50+), with additional admin fees after 12 month |
| Strong Educational Resources Provides a rich learning ecosystem—video tutorials, webinars, e-books, quizzes, and an “Ava Academy” for in-depth trading education | No cTrader Support, Does not offer cTrader, which may disappoint advanced algo or ECN traders |
| Innovative Risk Management Tools Features like AvaProtect (trade protection), push alerts, and Guardian Angel enhance trading safety and responsiveness | App Limitations, AvaTradeGO lacks robust drawing tools, and AvaOptions desktop can feel outdated or slow |
| Copy Trading Support Enables social trading through platforms like AvaSocial, ZuluTrade, and DupliTrade, useful for passive or strategy-driven traders | Limited Weekend Support, Customer service is 24/5, not 24/7, which may be inconvenient for traders who need weekend assistance |
Frequently Asked Questions
Is Avatrade a regulated and safe broker to trade with?
Yes, AvaTrade is considered a safe and well-regulated broker. It is licensed by multiple financial authorities, including the Central Bank of Ireland, ASIC (Australia), FSCA (South Africa), and others. This strong regulatory framework helps ensure that traders’ funds are protected and that the company follows strict operational standards.
What trading platforms does AvaTrade offer?
AvaTrade offers a variety of trading platforms to suit different types of traders. These include MetaTrader 4 (MT4), MetaTrader 5 (MT5), AvaTradeGO (its mobile app), and AvaOptions for options trading. The platforms are user-friendly and provide access to forex, CFDs, cryptocurrencies, and more with competitive spreads and powerful trading tools.
IC Markets
 | Minimum Deposit: $200 Regulated by: FSA Leverage: Up to 1:500 |
Overview
IC Markets is a trusted and well-loved broker among serious traders for its ultra-low spreads, fast execution, and wide range of trading tools. With raw spreads starting from 0.0 pips and deep liquidity, it’s a favourite for scalpers and algorithmic traders alike.
Traders can choose between MetaTrader 4, MetaTrader 5, cTrader, and even connect via TradingView, giving flexibility across all strategies. IC Markets is regulated by top-tier authorities including ASIC, CySEC, and FSA, offering solid fund protection and peace of mind. The broker supports over 3,500 instruments, including forex, stocks, indices, commodities, and crypto CFDs.
Beginners benefit from a user-friendly interface and support, while advanced users appreciate the fast execution, copy trading options, and access to tools like Autochartist and Myfxbook. Though educational resources are good, they’re not as rich as some competitors. Still, for low-cost, high-performance trading, IC Markets remains a go-to choice for many.
Unique Features
| ⌛Regulation | ASIC, CySEC, FSA, SCB |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | cTrader,Standard Raw Spread, |
| 🗂️Account Types Eligible for Islamic | All |
| ➡️Starting spread | 0.0 pips |
| 💴Minimum Commission per Trade | $7 per round turn |
| 💵Minimum Deposit | 270 SGD (200 USD) |
| 📊Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, IC Social, Signal Start, ZuluTrade |
| 🛢️Financial Instruments Offered | Forex, Commodities, Indices, Bonds, Cryptocurrencies, Stocks, Futures |
| ⬆️Maximum Leverage | 1:500 |
| 🫴🏻Currency Pairs | 64+; major, minor, and exotic pairs |
| 🕰️Customer Support Hours | 24/7 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Ultra-Low Spreads & Fast Execution – Spreads start from 0.0 pips, and execution is lightning-fast thanks to Equinix NY4 data centers—perfect for scalping and high-frequency trading | No MAS (Singapore) License – IC Markets is not regulated by the Monetary Authority of Singapore, which may concern some local traders. |
| Multiple Platforms Including cTrader & TradingView – Trade via MT4, MT5, cTrader, IC Social, and connect via TradingView or use Myfxbook Autotrade and ZuluTrade for copy trading. | Inactivity Fee Applies – A monthly fee is charged after a period of account dormancy. |
| Flexible Islamic (Swap-Free) Accounts – All account types support Shariah-compliant options without compromising on spreads or platform access. | Customer Support is Not Fully 24/7 – While live chat is available 24/7, phone and email support are only 24/5. |
| Wide Range of Assets – Over 3,500 instruments, including forex, stocks, commodities, indices, crypto CFDs, and futures. | Commission on Raw Accounts – Raw Spread accounts charge $7 per round turn (or $6 on cTrader), which can add up for high-volume traders. |
| Highly Regulated – Regulated by ASIC, CySEC, SCB, and FSA, offering transparency, segregated accounts, and negative balance protection. | No Fixed Spread Option – IC Markets only offers variable spreads, which may not suit traders seeking price certainty during volatile times. |
Frequently Asked Questions
Is IC Markets a regulated and safe broker to trade with?
Yes, IC Markets is a highly trusted broker and is regulated by reputable authorities such as ASIC (Australia), CySEC (Cyprus), and FSA (Seychelles). The broker has a solid reputation for transparency and security, offering negative balance protection and client fund segregation to ensure traders’ funds are safeguarded.
What makes IC Markets popular among traders?
IC Markets is widely popular for its ultra-low spreads, fast execution speeds, and support for automated trading strategies. It offers powerful platforms like MetaTrader 4, MetaTrader 5, and cTrader, making it ideal for scalpers, day traders, and algorithmic traders seeking institutional-grade trading conditions with no dealing desk intervention.
FP Markets
 | Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, CMA Leverage: Up to 1:500 |
Overview
FP Markets is a well-regarded Forex and CFD broker that caters effectively to traders in Singapore. Regulated by top-tier authorities like ASIC and CySEC, FP Markets offers a secure trading environment with a strong focus on transparency and client protection.
Singaporean traders can benefit from competitive spreads starting as low as 0.0 pips, lightning-fast trade execution, and access to powerful trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader. The broker supports a wide range of assets including forex, indices, commodities, shares, and cryptocurrencies.
FP Markets also offers Islamic (swap-free) accounts, making it suitable for Muslim traders. With 24/5 multilingual customer support and educational resources tailored to both beginners and experienced traders, FP Markets provides a well-rounded experience. Deposits and withdrawals can be made easily using SGD via bank transfer, credit cards, or e-wallets. Overall, FP Markets is a strong choice for Singapore-based traders seeking reliability and performance.
Unique Features
| ⌛Regulation | ASIC, CySEC, FSCA, FSA, FSC |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Standard, Raw, Islamic Standard, Islamic Raw |
| 🗂️Account Types Eligible for Islamic | Islamic Standard, Islamic Raw |
| ➡️Starting spread | From 0.0 pips |
| 💴Minimum Commission per Trade | US$3 per side |
| 💵Minimum Deposit | 90 SGD (100 AUD) |
| 📊Trading Platforms | MetaTrader 4, MetaTrader 5, IRESS, cTrader, FP Markets App |
| 🛢️Financial Instruments Offered | Forex, Shares, Metals, Commodities, Indices, Cryptocurrencies, Energies, ETFs, Bonds |
| ⬆️Maximum Leverage | 1:500 |
| 🫴🏻Currency Pairs | Major, Minor, Exotic |
| 🕰️Customer Support Hours | 24/7 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Tight Spreads & Low Commissions Raw spreads from 0.0 pips and low commissions (US$3 per side) make it ideal for scalpers and active traders. | Not Regulated by MAS (Singapore) While internationally regulated, FP Markets isn’t licensed by the Monetary Authority of Singapore (MAS). |
| Strong Regulation Regulated by top-tier authorities (ASIC, CySEC, FSCA, FSA, FSC), ensuring a secure and transparent trading environment. | IRESS Platform Has Higher Costs IRESS is powerful but better suited for high-volume or professional traders due to higher data fees. |
| Wide Range of Platforms Offers MT4, MT5, cTrader, IRESS, and FP Markets App—catering to different trading styles and experience levels. | No Local SGD Account Support SGD accounts are not always available, so currency conversion fees may apply for deposits/withdrawals. |
| Broad Asset Selection Access to forex, shares, commodities, indices, cryptos, energies, ETFs, and bonds all in one place. | No Local SGD Account Support SGD accounts are not always available, so currency conversion fees may apply for deposits/withdrawals. |
| Islamic Account Availability Offers true swap-free Islamic accounts, including both Standard and Raw types, compliant with Sharia law. | Limited Crypto Offering Compared to Some Competitors Crypto CFD range is decent but not as extensive as some dedicated crypto platforms. |
Frequently Asked Questions
Is FP Marketsa regulated and safe broker to trade with?
Yes, FP Markets is a safe and regulated broker, holding licenses from ASIC (Australia) and CySEC (Cyprus), both of which are respected financial regulators. While not directly regulated by the MAS in Singapore, FP Markets still adheres to international compliance standards, offering fund segregation and negative balance protection to enhance trader safety.
What trading platforms and features does FP Markets offer?
FP Markets offers powerful platforms like MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader, which are popular for their advanced charting, automation capabilities, and fast execution. Singaporean traders can access a wide range of instruments including forex, indices, shares, and crypto CFDs. The broker also supports ECN pricing, offering raw spreads from 0.0 pips and competitive commissions, ideal for active and professional traders.
FXTM
 | Minimum Deposit: $200 Regulated by: FCA, FSC, FSCA Leverage: Up to 1:2000 |
Overview
FXTM (ForexTime) is a globally recognized forex and CFD broker known for its strong presence in the Asian market, including Singapore. Regulated by multiple authorities such as CySEC and the FCA, FXTM offers Singaporean traders a secure and transparent trading environment.
The broker provides a range of account types suited for beginners to advanced traders, with flexible leverage options that comply with local regulations. FXTM supports popular trading platforms like MetaTrader 4 and MetaTrader 5, delivering advanced tools, technical analysis, and fast execution speeds. Singapore traders appreciate FXTM’s comprehensive educational resources, including webinars and market analysis, which help improve trading skills. Additionally, FXTM offers diverse instruments including forex, commodities, indices, and cryptocurrencies, catering to varied trading preferences.
With convenient deposit and withdrawal methods popular in Singapore, FXTM remains a strong choice for local traders seeking reliable service, competitive spreads, and responsive customer support tailored to the Asian region.
Unique Features
| ⌛Regulation | CySEC, FSCA, FCA, CMA, FSC Mauritius |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Micro, Advantage, Advantage Plus, Invest, Professional |
| 🗂️Account Types Eligible for Islamic | All |
| ➡️Starting spread | From 0.0 pips |
| 💴Minimum Commission per Trade | Between $0.40 and $2, depending on trading volume |
| 💵Minimum Deposit | 14 SGD (10 USD) |
| 📊Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 🛢️Financial Instruments Offered | Forex, Forex Indices, Spot Metals, CFD Kenya Stocks, Kenya Stocks, CFD US Stocks, US Stocks, Hong Kong Stocks, CFD EU Stocks, Spot Commodities, Spot Indices, Stock Baskets, Crypto CFDs |
| ⬆️Maximum Leverage | 1:2000 |
| 🫴🏻Currency Pairs | 60; major, minor, exotic pairs |
| 🕰️Customer Support Hours | 24/5 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Strong Global Regulation Regulated by reputable bodies (e.g. CySEC, FSCA, FCA), giving traders confidence in fund safety and company transparency. | High Spreads on Some Accounts Standard and Micro accounts have relatively wide spreads compared to ECN competitors. |
| Islamic Account Support All major account types can be converted into swap-free accounts, making FXTM suitable for Muslim traders. | Tiered Commission Structure Advantage accounts charge a volume-based commission, which can be confusing or costly for smaller traders. |
| Low Minimum Deposit (Micro Account) Just $10 (SGD 14) to get started on a Micro account — ideal for beginners or small-scale traders. | No MAS (Singapore) License FXTM is not locally regulated by the Monetary Authority of Singapore, which may concern some risk-conscious users. |
| Comprehensive Education & Support 24/5 multilingual customer service, plus free webinars, market analysis, and training resources — especially helpful for new traders. | Limited Crypto CFDs in Some Regions Availability of crypto instruments may be restricted depending on your location and regulatory rules. |
| High Leverage Options Offers up to 1:2000 (or even 1:3000 in some jurisdictions), attractive for experienced traders seeking capital efficiency. | Inactivity Fees Apply An account inactivity fee is charged after 6 months of no use, which can affect long-term passive users. |
Frequently Asked Questions
Is FXTM suitable for beginner traders?
Yes, FXTM is beginner-friendly, especially with its Micro account that requires just $10 (around 14 SGD) to start. It offers extensive educational resources, including free webinars, market tutorials, and daily analysis, which help new traders build their skills. The FXTM Trader app and MT4 platform are also easy to use, even for first-time users.
Does FXTM offer Islamic (swap-free) accounts?
Yes, FXTM provides Islamic accounts across its main account types: Micro, Advantage, and Advantage Plus. These swap-free accounts are designed for traders who follow Shariah law, as they avoid interest charges on overnight positions. You can request this option when opening your account or after registration through support.
Exness
 | Minimum Deposit: $10 Regulated by: CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA Leverage: Up to 1:2000 |
Overview
Exness is a well-known global forex and CFD broker, trusted by hundreds of thousands of traders around the world. It stands out for offering tight spreads, fast trade execution, instant withdrawals, and a wide range of trading instruments, including forex, cryptocurrencies, indices, and stocks. Many traders appreciate its transparency, with financials audited by Deloitte and strong international regulation.
However, if you’re based in Singapore, there’s a catch—Exness currently doesn’t accept retail traders from Singapore and isn’t licensed by the Monetary Authority of Singapore (MAS). So while it’s an excellent broker for users in other regions, Singaporean traders will need to look for a MAS-regulated alternative or wait to see if Exness becomes available locally in the future. That said, if you ever get access, Exness is known for being user-friendly, reliable, and supportive of both beginners and experienced traders alike.
Unique Features
| ⌛Regulation | FSA, CBCS, FSC, BVI, FSCA, CySEC, FCA, CMA |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Standard, Standard Cent, Raw Spread, Zero, Pro |
| 🗂️Account Types Eligible for Islamic | Standard, Standard Cent, Raw Spread, Zero, Pro |
| ➡️Starting spread | 0.0 pips EUR/USD |
| 💴Minimum Commission per Trade | From $0.1 per side, per lot |
| 💵Minimum Deposit | 14 SGD (10 USD) |
| 📊Trading Platforms | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness App |
| 🛢️Financial Instruments Offered | Forex, Commodities, Stocks, Indices, Cryptocurrencies |
| ⬆️Maximum Leverage | 1:Unlimited |
| 🫴🏻Currency Pairs | 100+; major, minor, exotics |
| 🕰️Customer Support Hours | 24/7 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| ✅Pros | ❌Cons |
| Swap-Free (Islamic) Accounts Available Suitable for Muslim traders; no overnight interest on supported accounts. | Leverage Restrictions for Regulated Jurisdictions In countries regulated by FCA, CySEC, or FSCA, leverage is limited (e.g., 1:30 to 1:400) |
| Low Minimum Deposit Start trading from as little as $1 (Standard account), making it beginner-friendly. | Limited Local Payment Methods in Some Regions While some countries have many deposit/withdrawal options, others may face restrictions or slower processing. |
| 24/7 Customer Support Multilingual support is available 24/7, including weekends — rare among brokers. | High Leverage = High Risk Unlimited leverage can lead to major losses if not managed properly, especially for new traders. |
| Unlimited Leverage Option For certain regions and account types, Exness offers 1:Unlimited leverage, allowing for high flexibility. | Swap-Free Conditions May Be Revoked If your activity is considered abusive or non-compliant, Exness can remove swap-free privileges. |
| Wide Range of Platforms and Assets Trade on MT4, MT5, Exness Terminal, or mobile app across Forex, crypto, indices, stocks, and commodities. | Offshore Regulation in Some Entities Some Exness entities are regulated in offshore jurisdictions like Seychelles and BVI, which may offer less investor protection. |
Frequently Asked Questions
Is Exness a safe and regulated broker?
Yes, Exness is a well-regulated broker with licenses from top authorities including CySEC (Cyprus), FCA (UK), FSCA (South Africa), and FSA (Seychelles). While it operates in multiple jurisdictions (some offshore), its long track record, transparent financial reporting, and strong client fund segregation make it a trusted choice for many traders worldwide.
Does Exness offer Islamic (swap-free) trading accounts?
Yes, Exness offers swap-free (Islamic) accounts that comply with Sharia law. Traders from eligible regions or with specific needs can request this feature, and it is available on most account types like Standard, Pro, Raw Spread, and Zero. However, Exness may review accounts for misuse and revoke swap-free status if necessary.
HFM
 | Minimum Deposit: $0 Regulated by: FCA, FSA, DFSA, FSCA, CMA Leverage: Up to 1:1000 |
Overview
HFM (HF Markets) is a globally recognized forex and CFD broker known for its user-friendly platform, competitive trading conditions, and strong regulatory framework. Regulated by authorities like CySEC, FSCA, CMA, and FSA, HFM offers peace of mind to traders across Africa, Asia, and Europe.
The broker supports a wide range of account types, including Micro, Premium, Zero Spread, and Islamic (swap-free) accounts—catering to beginners and professionals alike. With tight spreads from 0.0 pips, leverage up to 1:2000, and access to MetaTrader 4 & 5, it’s well-suited for flexible trading strategies. Users can trade forex, stocks, commodities, indices, energies, and crypto with low minimum deposits.
HFM also shines in customer support, offering multilingual assistance and free educational tools like webinars, articles, and daily market analysis. Whether you’re new to trading or experienced, HFM combines reliability, ease of use, and value—making it a popular choice for global retail traders.
Unique Features
| ⌛Regulation | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA |
| ☪️Islamic Account | Yes |
| ✏️Retail Investor Accounts | Cent, Premium, Zero, Pro, Pro Plus |
| 🗂️Account Types Eligible for Islamic | Premium, Zero, Pro, Pro Plus |
| ➡️Starting spread | 0.0 pips |
| 💴Minimum Commission per Trade | From $6 per round turn on Forex |
| 💵Minimum Deposit | 0 SGD (0 USD) |
| 🗂️Trading Platforms | MetaTrader 4, MetaTrader 5, HFM App |
| 🛢️Financial Instruments Offered | Forex, Precious Metals, Energies, Indices, Shares, Commodities, Crypto CFDs, Bonds, ETFs |
| ⬆️Maximum Leverage | 1:2000 |
| 🫴🏻Currency Pairs | 53+; major, minor, exotic pairs |
| 🕰️Customer Support Hours | 24/5 |
| 🚀Open an Account | 👉 Click Here |
Pros and Cons
| Strong Global Regulation Regulated by trusted authorities like FSCA, CySEC, FCA, DFSA, and CMA, offering security and trust for traders worldwide. | Limited Support Hours Customer support is available only 24/5, not on weekends — a disadvantage for weekend traders. |
| Islamic (Swap-Free) Accounts Offers Sharia-compliant accounts on most account types without interest or overnight swap charges. | High Commission on Some Accounts Zero account charges $6 per round-turn per lot, which can add up for high-volume traders. |
| Zero Minimum Deposit Traders can open live accounts without needing to deposit funds upfront, great for beginners testing the waters. | Leverage Restrictions in Some Regions Maximum leverage (1:2000) is not available in all jurisdictions due to regulatory limits. |
| Diverse Account Types Cent, Premium, Zero, Pro, and Pro Plus accounts cater to both novice and professional traders. | Inactivity Fee HFM charges an inactivity fee after a dormant period, which can affect occasional traders. |
| Wide Range of Instruments Trade Forex, stocks, metals, crypto CFDs, ETFs, bonds, and more — all from MT4, MT5, or the HF App. | Limited Educational Content for Advanced Users While beginner resources are solid, advanced trading tools and analysis may feel limited compared to other top-tier brokers. |
Frequently Asked Questions
Is HF Markets (HFM) a well-regulated and safe broker?
Yes, HFM is considered a safe and reliable broker. It’s licensed by respected financial regulators like the FCA (UK), CySEC (Europe), and FSCA (South Africa), which helps protect your money. They also keep your funds in separate accounts and offer negative balance protection, so you won’t lose more than what you’ve deposited. Many traders trust HFM because of its strong reputation and years of experience in the market.
Does HFM offer swap-free (Islamic) accounts?
Yes, HFM offers Islamic accounts that are swap-free—meaning you won’t pay or earn interest if you leave trades open overnight, making it suitable for Muslim traders. It’s available on most account types like Premium and Zero. To get one, you’ll need to request it manually, and it usually takes up to 48 hours to activate. Just be aware that a small charge might apply if you hold positions open for a long time.
How to Choose Swap-Free Account Brokers for Singapore Traders
When choosing a swap-free (Islamic) broker in Singapore, traders should look beyond avoiding interest charges. Prioritize brokers regulated by reputable authorities, with clear Shariah-compliant terms, low spreads, and no hidden fees. Ensure they support trusted platforms like MetaTrader and offer SGD-friendly deposit options. Good customer service and a strong reputation among Muslim traders also help ensure a reliable and ethical trading experience aligned with both faith and financial goals.
Step 1. Regulations and Licenses
Before opening a swap-free account in Singapore, confirm the broker is licensed by top-tier regulatory bodies such as ASIC (Australia), FCA (UK), CySEC (EU), or ideally the Monetary Authority of Singapore (MAS). Strong regulation ensures adherence to ethical, transparent, and secure trading practices. While MAS does not regulate all international brokers, those with global credentials from respected authorities offer greater peace of mind for Singaporean traders.
Step 2. Account Features
Not all Islamic accounts follow the same structure. Some brokers offer permanent swap-free status by default, while others only provide it upon request. Be sure to review whether admin fees are used in place of swaps and how they’re applied. It’s also important to compare account types—Standard, ECN, Raw Spread—and minimum deposit thresholds that suit your budget and trading experience.
Step 3. Account Payment Options
A reliable swap-free broker should support SGD deposits, either via local bank transfers, PayNow, credit/debit cards, or e-wallets like Skrill or Wise. Local payment gateways minimize currency conversion costs and offer faster processing times for deposits and withdrawals, ensuring smooth fund management for Singapore-based traders.
Step 4. Range of Markets
Islamic accounts should still offer wide access to global markets. Look for brokers that provide swap-free access to Forex pairs, indices, commodities (gold, oil), metals, and even cryptocurrencies, all within Shariah-compliant frameworks. Ensure all instrument-related charges are transparent, and no hidden interest-like fees are embedded in the structure.
Step 5. Customer Support
Efficient and helpful support is key, especially when managing a swap-free account where timing and setup matter. Choose brokers that provide 24/5 or 24/7 assistance, with access via live chat, email, or phone. It’s an added benefit if the team can help guide you in activating and maintaining an Islamic account and offer local language support if needed.
Step 6. Trading Platforms
Choose brokers that offer well-known, stable platforms such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), or cTrader. These platforms support Islamic trading and offer key features like charting tools, indicators, algorithmic trading, and mobile accessibility—crucial for modern traders managing positions on the go from Singapore.
Step 7. Education and Research
Top brokers don’t just offer a platform—they empower you with knowledge. Look for brokers that provide video tutorials, forex webinars, daily market updates, and economic calendars. Whether you’re a beginner or experienced trader, these resources help you make informed and compliant decisions when trading with a swap-free account.
Advantages and Disadvantages
| ✅Advantages | ❌ Disadvantages |
| No overnight interest (swap) fees – Shariah-compliant | May include administrative or alternative fees |
| Accessible for Muslim traders who follow Islamic finance principles | Limited broker options offering true Islamic accounts |
| Can use top platforms like MetaTrader 4/5 with Islamic settings | Some brokers require extra approval for swap-free status |
| Suitable for long-term trades without rollover costs | Not always available on all account types or assets |
| Regulated brokers still provide full security and features | May have tighter trading conditions or lower leverage |
Conclusion
Our exploration of swap-free account brokers in Singapore has provided us with valuable insights. The available offerings cater to a wide range of traders, taking into consideration their religious principles and strategic preferences.
Swap-free accounts help ensure ethical, interest-free trading for Muslim and long-term traders. In Singapore’s diverse financial landscape, they promote inclusivity, flexibility, and cost transparency for all.
Frequently Asked Questions
What is a swap-free trading account?
A swap-free account is a trading account that doesn’t charge or pay interest (swap/rollover fees) on positions held overnight. It’s designed for traders who want to follow Islamic finance principles, which prohibit interest (Riba).
Are swap-free accounts only for Muslim traders?
No. While they’re primarily meant for Shariah-compliant trading, some brokers in Singapore allow non-Muslim traders to use swap-free accounts if they prefer to avoid overnight fees or follow long-term strategies.
Which brokers in Singapore offer swap-free accounts?
Popular brokers offering swap-free accounts in Singapore include: Exness, HFM, FxPro, IC Markets, AvaTrade, FP Markets, FXTM, and Tickmill. Most of them support MT4/MT5 and have Islamic options across different account types.
Is there a fee instead of the swap?
Yes, some brokers charge a fixed administrative fee after a few days of holding a position. This replaces the swap but is still structured to be non-interest-based.
How do I request a swap-free account?
Most brokers require you to apply or request a swap-free account after registration. Approval usually takes 1–2 business days, and some may require documents or a reason for the request.
Are all instruments swap-free?
Not always. Some brokers only apply swap-free terms to major forex pairs, while exotics, cryptocurrencies, or indices may still incur fees. It’s important to check the broker’s swap-free conditions.
Can I hold trades for long periods with a swap-free account?
Yes, but brokers may monitor the account for abuse of swap-free terms. For example, using it for long-term arbitrage may lead to losing the swap-free status.
Are swap-free accounts legal in Singapore?
Absolutely. Swap-free accounts are fully legal in Singapore. They align with financial regulations and serve a clear ethical purpose for many retail traders.
Do swap-free accounts affect trading conditions?
Usually, no. You still get access to tight spreads, full platform features, and leverage, just without interest charges. However, some instruments may be restricted or fees adjusted.
Why are swap-free accounts important in Singapore?
Singapore is home to a diverse, multi-religious population, including a large Muslim community. Swap-free accounts provide ethical, inclusive access to the forex market and align with both faith-based values and transparent cost control.
Addendum/Disclosure
No matter how diligently we strive to maintain accuracy, all financial markets feature a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
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