IG Group does not offer an Islamic, Swap-Free trading account option on any trading account level. IG Group does not offer Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
| 🔎 Broker | ✅ IG Group |
| 💰 Trading Fee Class | High |
| 💵 Inactivity Fee | ✔️ Yes |
| 💳 Minimum Deposit | $140 / R2240 ZAR |
| 💡 Base currencies | 6 |
| ✅ Demo Accounts | ✔️ Yes |
| 📌 Products Offered | ETF, Forex, Options |
| 🔎 Open an Account | 👉 Click Here |
IG Islamic, Swap-Free Account – 7 Key Point Quick Overview
- ✅ IG Overview
- ✅ IG Islamic, Swap-Free Account
- ✅ IG Demo Account for Islamic, Swap-Free use
- How to open an IG Demo Account for Islamic, Swap-Free Use
- IG Customer Reviews – TrustPilot
- Conclusion
- Frequently Asked Questions
Overall Rating
- 4.5/5
Read Review
OPEN AN ACCOUNT
Min Deposit
USD 0
Regulators
FCA, BaFin, FINMA, DFSA, MAS, ASIC, FSCA
Trading Platform
MT4
Crypto
Yes
Total Pairs
80
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
IG Overview
IG is a leading online trading provider that offers traders access to opportunities across thousands of financial markets through intuitive platforms and apps. IG is authorized and regulated by the Financial Conduct Authority (FCA) and the Financial Sector Conduct Authority (FSCA). IG Markets South Africa Limited was established in 2010 with a head office based in Sandton, South Africa.
IG Islamic, Swap-Free Account
In recent years IG did make an IG Islamic, Swap-Free Forex trading account option available to traders based in the country of Dubai. However, at this time (2024), the IG Islamic, Swap-Free Forex Trading account option is no longer made available.
Even though an Islamic, Swap-Free Forex Trading account is not made available by IG, Muslim clientele is free to open an IG Demo account for the purpose of practice trading. As a demo account is only a simulation of IG live trading accounts, it does not go against Sharia Law and the trader will be using Virtual Currency instead of real funds. Swap-Free Forex trading accounts do not generate any swap interest. Swap interest is paid or received when a position is left open overnight.
IG Demo Accounts for Islamic, Swap-Free Use
Demo Account applicants will be able to access two different Demo accounts via a single login. Both the Domestic and International Demo Accounts allow the user to mimic the use of both live trading accounts without the risk.
| 🔎 IG Demo Accounts | 🥇 Domestic Demo | 🥇 International Demo |
| 💳 Virtual Funds | R1,000,000 ZAR | £10,000 |
| 📰 News Feeds & Live Updates | ✔️ Yes | ✔️ Yes |
| 💻 Compatibility | Windows, iOS, Android | Windows, iOS, Android |
| ☑️ Educational Content | ✔️ Yes | ✔️ Yes |
| ✅ Markets | South African | International |
| Open a Demo Account | 👉 Click Here | 👉 Click Here |
Here is a breakdown of each Demo Account on offer that can be used by Muslim Clientele for the purpose of practicing Forex Trading in simulated live trading conditions.
IG Domestic Demo Account
| 🔎 Account | ✅ Domestic Demo |
| 💳 Virtual Funds | R1,000,000 ZAR |
| 📌 Markets | South African Stocks |
| South African ETFs | |
| South Africa 40 | |
| 🚀 Open a Demo Account | 👉 Click Here |
IG International Demo Account
| 🔎 Account | ✅ International Demo |
| 💳 Virtual Funds | £10,000 |
| 📌 Markets | 17,000 + |
| 🚀 Open a Demo Account | 👉 Click Here |
Overall Rating Read Review OPEN AN ACCOUNT Min Deposit USD 0 Regulators FCA, BaFin, FINMA, DFSA, MAS, ASIC, FSCA Trading Platform MT4 Crypto Yes Total Pairs 80 Islamic Account No Trading Fees Low Account Activation 24 Hours
How to Open an IG Demo Account For Islam, Swap-Free use
Opening an IG Domestic or International Demo account is a one-step process. The applicant will be required to complete a short online registration form and submit it.
IG Customer Reviews – TrustPilot
IG Help Desk
Hi, today and yesterday I spoke to Wandile K, on the help desk in South Africa, I had an issue that wasn’t IG’s fault, but she resolved the problem and emailed me a swift reply, very professional, and a very enjoyable conversation. Thank you. With regard to IG, having several accounts with them for around a decade, I can recommend them fully, having had other brokers over the years I know consistently that IG are the best I have had dealing with. – Shane
Prompt Response
The help desk was very prompt in answering my questions in a clear understandable way. – Paul
Very Helpful
Very helpful and speedy customer service. I think that IG must have improved their game recently as before i had found it difficult to get through on the phone. Much better than dealing with online bots. – Andrew
Conclusion
Overall – IG Group does not offer an Islamic, Swap-Free trading account option on any trading account level. However, Muslim clients who simply wish to practice trading in simulated live trading conditions can sign up for an IG Demo Account.
You might also like: IG Account Types Overview
You might also like: IG Demo Account – Step by Step
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You might also like: IG Minimum Deposit
You might also like: IG Sign up Bonus
Frequently Asked Questions
Does IG make an Islamic, Swap-Free Forex account option available?
No. IG does not, at this time (2024), make an Islamic, Swap-Free Forex Trading Account available.
Does IG offer a demo account?
Yes. IG does make a Demo Account available and Muslim Applicants are welcome to use this account type for the purpose of practicing as it uses virtual funds.
Is an IG Demo account allowed under Sharia Law?
Yes. A Demo account is only a simulation of IG live trading accounts, it does not go against Sharia Law and the trader will be using Virtual Currency instead of real funds.
5/5 - (3 votes)
Table of Contents
Written by:
Louis Schoeman
Edited by:
Skerdian Meta
Fact checked by:
Arslan Butt
Updated:
February 9, 2022
Written by:
Louis Schoeman
Featured SA Shares Writer and Forex Analyst.
I am an expert in brokerage safety, adept at spotting scam brokers in mere seconds. My guidance, rooted in my firsthand experience with brokers and an in-depth understanding of the regulatory framework, has safeguarded hundreds of users from fraudulent brokerage activities.
Edited by:
Skerdian Meta
Leading Analyst
Skerdian Meta FXL’s Heading Analyst is a professional Forex trader and market analyst and has been actively engaged in market analysis for the past 10 years. Before becoming our leading analyst, Skerdian served as a trader and market analyst at Saxo Bank’s local branch, Aksioner, the forex division and traded small investor’s funds for two years.
Fact checked by:
Arslan Butt
Commodities & Indices Analyst
Arslan Butt, a financial expert with an MBA in Behavioral Finance, leads commodities and indices analysis. His experience as a senior analyst and market knowledge (including day trading) fuel his insightful work on cryptocurrency and forex markets, published in respected outlets like ForexCrunch.
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