By 2025, it is expected that South Africa will be at the forefront of offering more innovative solutions for ethical and Sharia-compliant trading as more brokers provide Islamic accounts tailored for the Muslim population. For those traders who are in search of halal investment opportunities, it is vital that they take up an Islamic account with brokers who are both compliant with the Sharia laws and regulated under South Africa’s top financial regulator, the Financial Sector Conduct Authority (FSCA).
What is an Islamic Account?
Islamic trading accounts are structured in accordance with Islamic law as they do not permit interest (riba) and therefore do not charge overnight swap fees on positions. These accounts enable Muslim traders to engage in forex and CFD trading without any religious conflict.
Importance of FSCA Regulation
Having an FSCA regulated broker means that they will follow defined operational procedures in regard to dealing with your funds, lending money, and safeguarding your data as well as your identity. With regulated brokers, all clients have to deal with is the challenge of distinguishing between genuine brokers and those that are unregulated and unreliable. Therefore selecting an FSCA-regulated broker is very important.
Best to Check for in 2025
* No swap or rollover interest
* Clear and transparent fee structures
* Competitive spreads
* Strong educational resources
* Arabic-speaking support (optional but helpful)
At XGlobal Africa, we’re proud to provide a fully regulated FSCA trading environment which guarantees your trades are halal, secure, and transparent. We proudly offer a Sharia-compliant trading environment so all your trades are halal. Whether you’re just starting or are an experienced trader, we’re here to support your journey with fairness and integrity.
Ready for a halal trade?
Join the increasing Muslim traders opting for an Islamic account on an FSCA regulated platform in South Africa.