Pepperstone is a forex and CFD broker that offers online trading services to traders and investors worldwide. The broker is known for its innovative technology, transparent pricing, and strong regulatory framework. With top-tier licenses from regulators such as ASIC, CySEC, FCA, BaFin, DFSA, CMA, and SCB, Pepperstone ensures a secure trading environment for traders worldwide. The broker offers over 1,200 trading instruments, including forex, commodities, indices, shares, and cryptocurrencies, appealing to various trading styles. For Muslim traders who adhere to Shariah law, Pepperstone provides an Islamic Account, also known as a swap-free account, which complies with Islamic finance principles.
The Pepperstone Islamic Account is designed for traders who cannot pay or receive interest (riba) due to religious beliefs. Unlike standard accounts, it does not charge overnight swap fees; instead, a flat administrative fee may apply depending on the traded instrument. This account is ideal for traders looking for a halal trading solution without compromising on trading conditions.
In this article, we’ll take a closer look at the Pepperstone Islamic Account, its features, benefits, drawbacks, and who it is best suited for.
Does Pepperstone Offer an Islamic (Swap-Free) Account?
Yes, Pepperstone offers an Islamic Account, also known as a Swap-Free Account.This account is designed for traders who follow Sharia law. This account type ensures that no interest (swap or rollover fees) is charged on overnight positions, making it fully compliant with Islamic finance principles, which prohibit Riba (interest-based transactions)
Pepperstone At a Glance

- Founded In: 2010
- Founder: Owen Kerr and Joe Davenport
- Headquarters : Melbourne, Australia,
- Minimum Deposit: None (However, Pepperstone recommends $200 or equivalent for margin requirements.
- Maximum Leverage: Upto 30:1 for ASIC, CySEC, FCA, BaFin, and DFSA jurisdictions, 400:1 for CMA, 200:1 for SCB, and 500:1 for Professional Accounts
- Regulations: FCA, ASIC, CySEC, BaFIN, DFSA, CMA, and SCB
- Trading platform: MT4, MT5, cTrader, TradingView
- Account Types: Standard, Standard (cTrader/MetaTrader 4&5), Razor (MT4, MT5, cTrader & TradingView)
- Trading Styles: All including Scalping, Hedging, News Trading, EA Trading
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, BPAY, Local Bank Transfers, M-Pesa, Neteller, PayPal, Poli, Skrill, UnionPay
- US Clients: Not Accepted
Key Feature of Pepperstone Islamic Account
- Available Trading Instruments: 1,200+ instruments, including forex, commodities, indices, cryptocurrencies, and stocks.
- Maximum Leverage: 1:200 for SCB-regulated regions, 1:30 for CySEC, FCA, ASIC, and DFSA-regulated traders.1:500 for professional accounts.
- Minimum Deposit: $0 (Recommended deposit: $200 or equivalent).
- Trading Fees: Only spread is charged ( No commission). The average spread of EUR/USD is 1.0 – 1.2 pips. No swap fees; an administrative fee applies based on trade duration and instrument.
- Trading Platforms: MT4, MT5, cTrader, and Pepperstone Trading Platform.
- Execution Type: No dealing desk (NDD), direct access to liquidity providers.
- Available Base Currencies: AUD, EUR, GBP, USD.
- Stop Out Level: 50% for retail and 20% for professional traders.
- Scalping: Allowed.
- News Trading: Allowed.
- EA/Robot Trading: Allowed.
- Hedging: Fully allowed.
- Minimum Trade Size: 0.01 lots.
- Maximum Trade Size: 100 lots.
Pros & Cons of the Pepperstone Islamic Account
Pros:
- Swap-free trading in compliance with Islamic finance principles.
- No interest charges on overnight positions.
- Same trading conditions as the Standard and Razor accounts.
- Supports scalping, expert advisors (EAs), and hedging.
- Fast execution speeds and deep liquidity.
- Regulated broker with strong security measures.
Cons:
- Administrative fees apply instead of swap fees, which may vary by instrument and holding period.
- Islamic accounts are not available for traders of all regions
- Not available to all traders—must be requested and approved.
How to Open a Pepperstone Islamic Account?
- Step 1: Register a Trading Account: Visit Pepperstone’s official website and complete the online sign-up form.
- Step 2: Choose an Account Type: Select either the Standard Account (spread-based) or Razor Account (commission-based) when signing up.
- Step 3: Submit Islamic Account Request: After registration, contact Pepperstone’s support team to request Swap-Free status.
- Step 4: Verification & Approval: The broker will review your request, and upon approval, your account will be converted to an Islamic Account.
- Step 5: Start trading – Once approved, you can trade with no swap fees under Shariah-compliant conditions.
Which Countries Are Eligible for a Pepperstone Islamic Account?
Pepperstone does not offer an Islamic (Swap-Free) Account in all countries or jurisdictions. However, the broker provides Swap-Free accounts to traders in the following countries:
Albania, Bangladesh, Burkina Faso, Bahrain, Brunei, Brunei Darussalam, Algeria, Egypt, Indonesia, Jordan, Kyrgyzstan, Kuwait, Morocco, Mauritania, Maldives, Niger, Oman, Pakistan, Qatar, Sierra Leone, Turkey, Uzbekistan, and Kosovo.
Note: Pepperstone may offer an Islamic account to traders from other countries upon request and valid justification. If you require a Swap-Free account outside the listed countries, you can contact Pepperstone’s support team via email or live chat for further assistance.
Who is the Islamic Account Suitable For?
The Pepperstone Islamic Account is best suited for:
- Muslim traders who follow Shariah law and require a swap-free trading environment.
- Long-term traders who hold positions overnight and wish to avoid swap charges.
- Scalpers and day traders who require fast execution and deep liquidity.
- Professional traders who want high leverage with a swap-free structure.
What are the Account Types at Pepperstone?
Pepperstone offers a variety of account types, including:
- Pepperstone Standard Account – Spread-based account with no commission.
- Pepperstone Razor Account – Commission-based account with ultra-low spreads.
- Pepperstone Professional Account – Higher leverage for eligible traders.
- Pepperstone MAM/PAMM Account – Multi-account trading for fund managers.
- Pepperstone Joint Account – Account for multiple traders.
- Pepperstone Company Account – Corporate trading account.
- Pepperstone Trust Account – Account for trading under a legal trust structure.
- Pepperstone Trust Corporate Account – Institutional-level trust trading.
To learn more about these accounts, check our detailed guide on Pepperstone Account Types.
Frequently Asked Questions (FAQs)
What is Pepperstone?
Founded in 2010 by Owen Kerr and Joe Davenport, Pepperstone is an Australian-based forex and CFD broker offering online trading services globally. The broker provides access to over 1,200+ forex and CFD instruments on its powerful platforms: MT4, MT5, cTrader, and TradingView. With its advanced technological infrastructure, Pepperstone delivers lightning-fast execution, multiple trading tools, and low trading fees (starting from as low as 0.0 pips for the Razor account and 1 pip for the Standard account). It is regulated in seven jurisdictions and serves over 400,000 clients worldwide.
What is the Pepperstone Islamic Account?
The Pepperstone Islamic Account is a swap-free trading account that allows Muslim traders to participate in forex and CFD trading while adhering to Shariah law. Standard forex trading accounts typically include overnight swap fees, which are considered interest and prohibited in Islamic finance. To accommodate Muslim traders, Pepperstone removes swap fees on Islamic accounts and replaces them with an administrative fee for positions held overnight.
What is the Minimum Deposit for the Pepperstone Islamic Account?
There is no minimum deposit requirement for opening an Islamic Account. However, Pepperstone recommends depositing at least $200 for global traders and $500 or equivalent for EU, UK, and Australian traders for effective trading.
What is the Maximum Leverage for the Pepperstone Islamic Account?
The maximum leverage for all types of accounts at Pepperstone, including the Islamic Account, is as follows:
- Retail traders: Up to 1:200 (SCB), 1:30 (FCA, ASIC, CySEC, DFSA)
- Professional traders: Up to 1:500 (eligibility required)
What are the Trading Fees of the Pepperstone Islamic Account?
The Pepperstone Islamic Account follows the same conditions as the Standard Account, with no swaps or interest charges. An administrative fee of USD 100 per standard lot applies for positions held overnight beyond five days. The account also offers competitive spreads with no commissions for trading
Are There Any Extra Charges on the Islamic Account?
There are no additional charges for active trading on the Islamic Account. However, if a position is held overnight for 5 consecutive days, an administrative fee will apply instead of swap fees. The fee depends on the instrument and trade duration. For example, the administrative charge for FX and precious metals is $100 per standard lot size
Can I Use Expert Advisors (EAs) on the Islamic Account?
Yes, EAs, scalping, hedging, and news trading are all allowed on the Pepperstone Islamic Account.
Final Verdict:
Pepperstone’s Islamic Account provides a Shariah-compliant trading solution with swap-free trading, making it an ideal choice for Muslim traders who want to trade forex and CFDs without violating their religious beliefs. With competitive spreads, fast execution, and access to multiple platforms, the Islamic Account offers the same trading advantages as the Standard Account without interest-based fees.
🔹 Best For: Muslim traders looking for a compliant, commission-based, or spread-based trading account with reliable execution.
🔹 Not Ideal For: Traders who prefer fixed spreads or want an account that does not require manual approval.
While the administrative fee may apply for holding positions overnight, the transparent pricing, deep liquidity, and flexible trading conditions make it one of the best Islamic forex accounts in the market. Whether you’re a scalper, swing trader, or long-term investor, Pepperstone’s Islamic Account provides a reliable, fair, and compliant way to trade.