Searching for an FBS Islamic Account Review before you start trading? As a Muslim trader, ensuring your broker follows Sharia-compliant practices is crucial. With so many options available, it can be hard to know if FBS is the right fit. This comparison will guide you through everything you need to know about their Islamic account, allowing you to start trading forex with peace of mind in 2025.
What Is FBS Broker?
FBS is a globally recognized forex and CFD broker that has been serving traders since its founding in 2009. Headquartered in Belize, FBS operates in over 150 countries, providing trading services to more than 27 million clients worldwide.
The broker offers a wide range of financial instruments, including Forex, metals, commodities, and indices, making it a versatile platform for traders of all experience levels. Over the years, FBS has earned 90+ prestigious awards, highlighting its commitment to excellence and reliability.
To further solidify its global reputation, FBS partnered with Leicester City Football Club as an Official Partner for the 2021/2022, 2022/2023, and 2023/2024 seasons. This collaboration reflects FBS’s dedication to building a strong international presence and fostering community engagement.
With a focus on innovation, transparency, and accessibility, FBS has positioned itself as a trusted choice for millions of traders, including those in the Muslim community.
Read the complete FBS Review.
Types of Accounts FBS Offers
FBS provides a range of account types to suit different trading needs and experience levels.
- Cent Account: Perfect for beginners, this account allows you to trade with smaller amounts, minimizing risk while learning the ropes.
- Standard Account: A popular choice for experienced traders, offering balanced conditions with competitive spreads and no hidden fees.
- Demo Account: Ideal for practice, this account lets you test strategies in a risk-free environment with virtual funds.
- Zero Spread Account: Designed for precision traders, this account offers fixed spreads starting from 0 pips, making cost calculations easier.
- Crypto Account: Tailored for digital currency enthusiasts, providing access to a wide variety of cryptocurrencies.
- Islamic Account: FBS Islamic account, also known as a Swap Free account, is designed specifically for traders who want to comply with Islamic principles.
Importantly, all these account types can be converted into an Islamic account (Swap Free). This diversity of accounts leads us to the standout features of the FBS Islamic Account, which makes trading accessible and Sharia-compliant for Muslim traders.
FBS Islamic Account Review – Features
The FBS Islamic account is a Swap Free trading account that eliminates Riba (interest-based transactions) by removing swap charges entirely. This means you can trade confidently, knowing there are no swap fees on any of the 550+ instruments available, including Forex, commodities, indices, and more.
Whether you’re trading major currency pairs like EUR/USD or exploring commodities like gold (XAUUSD), the Islamic account keeps your trades interest-free, making it an ideal solution for traders focused on both profitability and religious adherence.
The FBS Islamic account is accessible to clients from many predominantly Muslim countries, including Indonesia, Malaysia, Saudi Arabia, UAE, Egypt, and other nations across the Middle East and North Africa. FBS ensures that traders in these regions can participate in global markets while staying true to their faith.
This account is more than just an option—it’s a bridge that connects ethical trading with global financial opportunities. With no compromise on trading conditions or access, it allows Muslim traders to confidently engage in the markets on their terms.
FBS Islamic Account Review – Fees
When it comes to fees, FBS keeps things simple. For most instruments—such as major Forex pairs, commodities, and indices—there’s no weekly commission. However, if you’re trading Forex Exotic pairs, a weekly commission comes into play after holding a position for seven days. This fee is specific to Exotic pairs because they involve currencies from smaller or developing economies, which can have different market dynamics.
But how does it work?
Imagine you open a long position on XAUUSD (gold) at $1,800 per ounce. Normally, holding this position overnight would incur a swap fee based on the difference in interest rates. With the Swap Free option enabled, no such charges apply, no matter how long you keep the position open. If you later close the trade when XAUUSD reaches $1,850, your profit is calculated solely based on the price movement—without any deductions for swaps.
The process is just as transparent for Forex Exotic pairs, though they include a weekly commission instead of swap fees. For example, if you trade AUDDKK, the commission is calculated as the swap value multiplied by seven days and charged only after the first week.
I find FBS’s transparency refreshing because they clearly explain how this fee is calculated. There are no hidden charges or surprises, and it’s easy to factor this into your trading plan.
How to Open an FBS Islamic Account
Now that you have seen the benefits of trading with an FBS Islamic account, the next thing you need to do is to get started. The process of opening an account is simple and quick. Here’s how you can open one in just two steps:
- Open an Account
Visit the FBS website or download the FBS app. Click on the “Open Account” button and complete the registration process by providing your personal details. Choose the type of account that best suits your trading needs during setup. - Activate the Swap Free Option
During the account setup process, look for the “Islamic Account (Swap Free)” option and activate it. If you’re using the FBS app, this option is enabled automatically. Once activated, your account will be set up for swap-free trading, aligning with your values.
If you already have an existing FBS account, you can also enable the Swap Free option by visiting your FBS Trader Area, selecting your account from the dashboard, and toggling on the feature. If you don’t see the option, FBS’s support team is available 24/7 to assist via support@fbs.com. You contact them on the phone numbers; +357 22 010970 and +501 611 0594.
How to Make Deposits: Easy, Flexible, and Secure
Depositing funds into your FBS Islamic account is simple and designed to fit your preferences. With an initial deposit starting at just $5, FBS ensures that anyone can start trading regardless of budget.
FBS broker offers over 200 payment methods, including global options like bank transfers and e-wallets, as well as local payment solutions tailored to your region. This flexibility makes funding your account fast and convenient, no matter where you are.
How to deposit
- To deposit, log in to the Trader Area, click on “Finances,” and select “Deposit.”
- Then choose your preferred payment method, specify the trading account to fund, and enter the amount and currency.
- Finally, hit the “Deposit” button, and your funds will be processed securely.
If you prefer mobile convenience, the FBS app allows you to complete deposits directly from your smartphone, making the process even more accessible.
Withdrawals: Fast Access to Your Funds
When it’s time to withdraw your earnings, FBS ensures the process is just as smooth as depositing. With instant automated withdrawals available for many methods and zero commissions on several options, you’ll have quick access to your funds whenever you need them. FBS prioritizes security, so withdrawals are available only after your account has been fully verified—a straightforward process that safeguards your transactions.
How to withdraw
- Log in to the Trader Area, click on “Finances,” and select “Withdrawal.”
- Choose a payment method, specify the account to withdraw from, and provide the requested details.
- If withdrawing via a card, upload a copy of both sides of the card for verification.
- Enter the withdrawal amount, confirm, and you’re done.
Like deposits, withdrawals can also be handled directly in the FBS app for on-the-go convenience.
Is FBS Safe?
When it comes to your funds, FBS takes security seriously. As a Muslim trader, you can have full confidence that your money is protected with multiple robust safety measures in place.
FBS ensures segregated accounts, meaning your funds are stored in insured accounts at multiple tier-1 banks, completely separate from the company’s operational funds. This separation guarantees that your money remains safe, secure, and always available when you need it.
To further safeguard your transactions, FBS uses one-time password (OTP) verification for secure withdrawals, ensuring that only you can authorize any movement of your funds. This extra layer of protection gives you peace of mind knowing that no unauthorized access can occur.
Additionally, FBS complies with the Payment Card Industry Data Security Standard (PCI DSS), a globally recognized certification that helps reduce card fraud and ensures your cardholder data is safe. For even more security, 3D Secure payments are offered for online card transactions. This added step involves SMS authentication, so only you can authorize these payments.
With these comprehensive, industry-leading measures, I can say yes, FBS is a secure and trustworthy platform to protect your funds.
Is FBS Legit?
When it comes to trusting your broker, regulation is key—and FBS is fully regulated by the Financial Services Commission (FSC) of Belize. This license ensures that FBS adheres to global financial standards, making it a reliable and trustworthy choice for Muslim traders.
The FSC (Belize) is well-respected for its commitment to combating money laundering and terrorist financing, ensuring a secure and compliant trading environment. The regulator’s progressive approach helps FBS maintain the highest standards of transparency and security.
Moreover, Belize’s legal system aligns with international standards, offering consistency and clarity in all regulatory matters. The FSC (Belize) simplifies legal processes by maintaining documentation in English, which makes it easier for traders from all over the world to understand their rights and obligations.
With FBS’s solid regulation and adherence to international laws, you can be confident that your trades and funds are handled with integrity, making it a trusted platform to trade on while aligning with your values.
FBS Islamic Account Review – Pros and Cons
Pros
- Swap-Free Accounts: No interest-based swap charges for overnight positions, ensuring compliance with Islamic finance principles.
- Wide Range of Instruments: Over 550 instruments available, including Forex, metals, commodities, and indices.
- Global Accessibility: Available to traders in many Muslim-majority countries like Saudi Arabia, Indonesia, Malaysia, UAE, and Egypt.
- Regulated Broker: Operates under FSC license, adhering to international financial regulations.
- Transparent Fees: Clear commission structure with no hidden fees or additional charges for non-Exotic Forex instruments.
- 24/7 Customer Support: Quick response time and reliable support, including assistance with setting up the Islamic account.
- Multiple Payment Methods: Over 200 local and global payment options for deposits and withdrawals.
- Data Security: Segregated accounts and SSL encryption to protect your funds and personal information.
Cons
- Weekly Commission on Forex Exotic Pairs: A commission is applied to long-term positions on Exotic Forex pairs, which can add up over time.
- Limited Research Tools: Compared to some other brokers, FBS offers fewer advanced research and analytical tools.
- No US Clients: FBS does not provide services to traders based in the United States.
- Limited Educational Resources: Although they offer some educational materials, they are not as comprehensive as those offered by other major brokers.
FBS vs eToro vs Exness vs IC Markets vs XM
 |
 |
 |
 |
 |
|
|---|---|---|---|---|---|
Swap-Free Trading |
No swap charges on all instruments. |
√ |
√. |
√ |
√ |
Eligibility |
Available to clients in many Muslim-majority countries. |
√ |
√ |
√ |
√ |
Commission/Fees |
No hidden fees, weekly commission on Forex Exotic pairs. |
No swap, but some accounts may incur fees. |
No swap; some commissions on certain trades. |
No swap; commission on some positions. |
No swap, but may have commissions for long positions. |
Account Types |
Available on Standard, Cent, and ECN accounts. |
Only available on eToro’s Standard account. |
Standard, Pro, and Cent accounts. |
Standard, ECN, and Raw accounts. |
Micro, Standard, and XM Zero accounts. |
Regulation |
FSC license |
FCA, ASIC, CySEC, etc. |
FCA, CySEC, and others. |
ASIC, FSA, and others. |
CySEC, ASIC, and others. |
For more detailed information on each broker’s Islamic account features, don’t hesitate to check out our comprehensive reviews.
FBS Islamic Account Review: Conclusion
The FBS Islamic account is an excellent choice for Muslim traders seeking a Sharia-compliant trading environment. With no swap charges on over 550 instruments and full access to global markets, you can trade with peace of mind, knowing your activities align with Islamic principles.
FBS offers a transparent, simple platform that supports your trading goals without compromising on ethics. Whether you’re new to trading or experienced, the FBS Islamic account provides a hassle-free way to engage in the financial markets while adhering to your beliefs.
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Frequently Asked Questions
- What instruments are covered under the Swap Free account?
The Swap Free option is available on all instruments offered by FBS, including Forex, commodities, metals, and indices. You can trade over 550 instruments without worrying about swap charges.
- Are there any hidden fees or commissions?
No, there are no hidden fees for using the Islamic account. While there is a weekly commission on Forex Exotic pairs, this only applies to long-term positions and is clearly outlined. Other instruments do not incur any extra charges.
- How does the weekly commission on Forex Exotic instruments work?
The weekly commission applies only to long-term positions on Forex Exotic pairs. It’s calculated based on the swap value and charged every weekend after holding the position for 7 days. For all other instruments, there are no additional fees.
- Can I enable the Islamic option on an existing account?
Yes, you can. Simply go to your FBS Trader Area, select the account you want to change, and enable the Islamic account (Swap Free) option. If you have trouble finding it, you can reach out to FBS support for help.
- How does FBS ensure compliance with Islamic finance principles?
FBS ensures compliance by removing all swap charges (interest fees) on positions held overnight. This allows Muslim traders to participate in trading without violating any Islamic finance principles.