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 scores 9.0/10 on regulation in our assessment, but the verdict is conditional on where you live: it does not accept EU, EEA or UK retail clients, having closed onboarding to them in 2019. Where it does onboard, clients contract with its Seychelles FSA entity (licence SD025) — outside ICF and FSCS compensation.
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 (9.4/10), followed by IG (9.2/10) and XM (8.7/10). Pepperstone wins on its multi-regulator coverage (CySEC 388/20 for EU/EEA clients, plus FCA, BaFin and ASIC across the group), 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.
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