Opening a forex account as a Vietnamese trader will differ based on the offshore broker you decide to work with. Some forex brokers will only require basic personal information, such as your name, address, email, phone number, date of birth, and nationality.

Usually, you’ll also need to provide a copy of a government-issued ID or passport as proof of identity, and a utility bill as proof of address. Once this is complete, your account will be verified, and you will be able to trade forex in Vietnam to your heart’s content.

Islamic accounts for Vietnamese forex traders

Cham Muslims and Vietnamese Muslims for other minority groups may be concerned about whether or not their trading activity is Sharia-compliant. Luckily, you needn’t worry, as there are plenty of trusted global brokers offering Islamic accounts.

Islamic accounts do not:

• Charge swap or rollover fees, or payout interest on your margin deposit
• Hold transactions. All currencies are transferred immediately, and all costs are paid off at the same time

When looking for an Islamic account to trade forex in Vietnam, however, you need to be extra cautious. Many forex brokers advertise that they offer Islamic accounts yet when you dig a little deeper, you’ll find that not all these accounts are 100% compliant with Shariah law.

For example, some brokers only offer the swap-free condition for a limited time, such as up to 14 business days. Others claim not to charge swaps but then work them in as commissions or hide them among other fees, which is not in line with Shariah law.

To help you to avoid brokers like these, our list of the best Vietnam Forex brokers only includes those that offer 100% compliant Islamic accounts. To request an Islamic account with any of our recommended brokers, you’ll simply need to register as normal and then contact customer services.