What is the best swap-free (Islamic) forex broker?
How this answer was verified
- Cross-checked against broker-published fact sheets, regulator licensing databases, and ESMA product intervention notices.
- Reviewed by the FX-Brokers EU editorial desks (Markets, Platforms, Regulation). Desk structure disclosed at /about/editorial-desks.
- Refreshed quarterly. The most recent verification date is shown above. Read our methodology.
Related
Is Exness a safe broker?
Exness is an established, well-capitalised broker, but it does not accept EU, EEA or UK retail clients — it closed onboarding to those residents in 2019. EU and UK traders therefore cannot open an Exness account or rely on CySEC/FCA investor-protection schemes through it. Where Exness does onboard (non-EU and emerging markets), clients are served by its offshore Seychelles FSA entity (license SD025), which sits outside EU/UK compensation schemes such as the ICF and FSCS.
What is a forex swap rate and how is it calculated?
A forex swap rate is the interest you pay or receive for holding a currency position overnight. It reflects the interest rate differential between the two currencies in the pair. If you are long the higher-yielding currency you usually receive swap; if you are short it you pay swap. Swap is typically tripled on Wednesday to cover the weekend.
What is the best forex broker in Europe in 2026?
Our editorial team's top pick for EU traders in 2026 is Pepperstone (9.3/10), followed by IG (9.2/10) and XM (9.0/10). Pepperstone wins on BaFin regulation, a zero minimum deposit and raw 0.0-pip spreads. IG offers the broadest market coverage with 17,000+ instruments. XM adds CySEC cover and strong education. Exness, though highly rated globally, closed EU/EEA retail onboarding in 2019 and does not accept EU residents, so it is excluded from EU shortlists.