BDSwiss Islamic offers trading to Muslim traders on all account types. The swap-free applies to accounts that hold an open position for 10 calendar days. Upon exceeding the stipulated 10 days, the swap will be debited or credited accordingly.
BDSwiss Islamic Account Review – Key Points Quick Overview
- ☑️Overview
- ☑️What exactly is an Islamic Account?
- ☑️Which financial activities are restricted and prohibited by Sharia law?
- ☑️How to open a BDSwiss Islamic Account
- ☑️Customer Reviews
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
Overview
- BDSwiss, founded in 2012, has gained popularity among South African traders because of its extensive selection of financial instruments and user-friendly features.
- It has also grown its services abroad, including a strong presence in South Africa.
- The platform is well-known for offering CFDs, including forex, cryptocurrencies, commodities, indices, and stock trading, catering to various financial interests.
- Another highlight is the platform's user interface, which is meant to be intuitive and straightforward for traders of all experience levels.
- BDSwiss provides the popular MetaTrader 4 and MetaTrader 5 platforms and its own BDSwiss WebTrader platform and app.
- These systems include comprehensive charting tools, market indicators, and risk management capabilities, allowing South African traders to make well-informed decisions.
What exactly is an Islamic Account?
- Notably, the broker provides South African clients interested in BDSwiss with a specialized Swap-Free account.
- This account permits traders to conduct transactions without incurring interest following Sharia law principles.
- A notable benefit is eliminating overnight swap fees, a feature that may appeal especially to traders adhering to Islamic principles.
- If the trader maintains an open position for more than 10 calendar days, swap charges or credits may be applied to the account, contingent upon the trade's direction.
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following is affected:
- Overnight rollovers: this involves the incurrence or receipt of swap points on positions that are held open for longer after the trading day has concluded, which is prohibited by Sharia law.
- Margin deposits and interest: this involves the accrual of interest on funds that are deposited into the trading account, which is prohibited.
- Loans – when followers of Sharia law have funds transferred by either a bank or other financial institution, and it involves interest terms, it is prohibited by Sharia law as per the key element, Riba.
- Stocks that are traded on margin result in the trader being liable for paying interest amount to Riba, since money is borrowed from the broker to buy or sell such equities, and this is prohibited by the Sharia laws.
- Short sales, which affect mostly shares and involve borrowing and the subsequent sale of an asset, are prohibited.
- Forward sales, which affect forward contracts as well as the trading of futures contracts, involve the buying and selling of contracts at a future date according to a price agreed upon on the day of entering such a contract.
How to open a BDSwiss Islamic Account
Opening an account with BDSwiss can be done in 4 easy-to-follow steps:
How to Open a BDSwiss Markets Account
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Step 1 – Register an account
- Visit the official website and complete the online registration form with your personal details (name, email, phone number, and password).
Step 2 – Complete Questionnaire
- Fill in the required questionnaire about your financial background, trading experience, and risk understanding to comply with regulatory requirements.
Step 3 – Download MT4 Platform
- Download and install the MetaTrader 4 (MT4) platform, log in with your account credentials, fund your account, and start trading.
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BDSwiss Markets At a Glance
| 🔎Category |  |
| 📅Year Founded | 2012 |
| 👨💼 Current CEO | Gadi Amit |
| 🧑💼 Founder/s | Gadi Amit, Eliran Mor |
| 🧑🏻💻Amount of staff | Over 300 employees |
| 👩💻Amount of active traders | Over 1.5 million |
| 🌐Publicly Traded (Listed Company) | No |
| 🛡️Regulation | CySEC, FSC, FSA, NFA, MISA, SCA |
| 🌎Country of regulation | Cyprus, Mauritius, Seychelles, USA, Germany |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔑 Two-step Authentication | No |
| 🔋Investor Protection Schemes | EUR, USD, GBP |
| ➕Accounts | Yes |
| 💳Institutional Accounts | yes |
| 👨💼Managed Accounts | No |
| 📇Minor account currencies | Yes (EUR, USD, GBP, AUD, CAD, CHF, JPY, SGD) |
| 💰Minimum Deposit | $10/ ZAR 150 For South Africans |
| 🕞Average deposit/withdrawal processing time | 24 hours to 5 business days |
| 🪙Fund Withdrawal Fee | No fee for most methods, but may depend on method |
| 📊Spreads from | 0.0 pips (varies by account type) |
| 💸Commissions | Yes, for Raw and VIP accounts |
| 💱Number of base currencies supported | 4 ZAR, USD, EUR, GBP |
| 🚀Swap Fees | Yes, applicable for non-Islamic accounts |
| 📈Leverage | Up to 1:500 |
| 📏Margin requirements | Varies by asset and account type |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Less than 1 second |
| 📆VPS Hosting | Yes |
| 🧾CFDs-Total Offered | Over 1000 |
| 🗠CFD Stock Indices | Major global indices |
| ⚖️CFD Commodities | Precious metals, energies, agricultural products |
| 📜CFD Shares | Popular global stocks |
| 👁️ Watch list | Yes |
| 📲 Trade Alerts | Yes |
| 💹 Trading Stocks with GP | Yes |
| 📉 Trading Indices with GP | Yes |
| 📋 Swap on trading board | Applicable |
| 💳Deposit Options | Bank wire, credit/debit cards, e-wallets |
| 💵Withdrawal Options | Bank transfer, credit/debit cards, e-wallets |
| 🎁 Welcome Bonus | Available |
| 💻Trading Platforms | MetaTrader 4, MetaTrader 5, BDSwiss WebTrader |
| 👩💻OS Compatibility | Windows, Mac, Android, iOS |
| 🖥️Forex trading tools | Economic calendar, Forex calculator, Trading alerts |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | support@bdswiss.com |
| 📞Customer Support Contact Number | +44 2036705890/+357 22 00 99 11 |
| 🗣️Languages supported on Website | English, Arabic, Russian, Chinese, Spanish, Portuguese, Italian, French, German, Greek |
| 🧏♀️Webinars | Yes, free for registered users |
| 📚Educational Resources | Yes (blog, video tutorials, trading guides) |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | Over 1000 |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | No |
| 🪙Rebate program | Yes |
| 💬 Community Forum | Yes |
| 📱 Social media Platforms | Yes |
| 📝Sign up | 👉 Open Account |
Customer Reviews
- Customer reviews for BDSwiss are generally mixed to positive, with many traders praising the platform’s user-friendly interface, fast trade execution, and diverse range of tradable assets.
- Users often highlight the quality of educational resources and responsive customer support as strong points.
- Positive feedback also mentions the reliability of deposit and withdrawal processes.
- However, some negative reviews cite occasional delays in withdrawals or verification processes, and spreads that may widen during high volatility.
- Overall, BDSwiss is considered a reputable broker by many, particularly suited for beginner and intermediate traders looking for a regulated and well-supported trading environment.
| 🔍Aspect | 🔖Details |
| 🌟Overall Rating | 4.2 out of 5 – Generally positive reviews across platforms like Trustpilot. |
| 👏Customer Satisfaction | Most users report satisfaction with platform performance, education, and withdrawals. |
| 📞Customer Service | Responsive and helpful 24/5 multilingual support via live chat, phone, and email. |
Customers Ratings
| 🌐 Platform | 📝 Feedback Summary | ⭐ Rating |
 | Predominantly negative reviews citing withdrawal issues and account closures. | ⭐ 1.6 / 5 (72 reviews) |
 | Mixed reviews; some users report satisfactory experiences, others highlight concerns over withdrawals. | ⭐ 3.0 / 5 (approximate) |
 | Mixed feedback; some users praise the platform's features, while others report issues with customer service. | ⭐ 1.9 / 5 (19 reviews) |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Islamic options on all account types | Swap-free applies only for 10 calendar days |
| The choice between MT4, MT5 and Proprietary platform | Must register an account to use Demo account |
| Fast account opening | Support not available 24/7 |
Conclusion
The BDSwiss Islamic Account is designed for traders who wish to follow Shariah-compliant trading principles by eliminating interest charges on overnight positions. Instead of swap fees, the account uses an alternative fixed fee on certain instruments, ensuring transparency and fairness. It provides access to the same trading conditions as standard accounts, including tight spreads, fast execution, and a wide range of instruments.
You might also like:
BDSwiss Account Types BDSwiss Demo AccountBDSwiss Fees and SpreadsBDSwiss Minimum Deposit BDSwiss Sign up Bonus
Frequently Asked Questions
What is a BDSwiss Islamic Account?
A BDSwiss Islamic Account is a swap-free trading account designed for Muslim traders who follow Sharia law. It eliminates overnight interest charges while maintaining access to forex, commodities, and indices under compliant trading conditions and ethical financial principles.
Does the Islamic Account charge any swaps or interest?
No, the BDSwiss Islamic Account does not charge or pay swap fees on overnight positions. Instead, it may apply fixed administrative fees after a holding period, ensuring compliance with Sharia principles while keeping trading conditions fair and transparent.
Who can open a BDSwiss Islamic Account?
Any trader can request a BDSwiss Islamic Account, but it is primarily intended for Muslim clients who require Sharia-compliant trading. Approval is subject to verification, and the broker may request justification before granting swap-free account status.
Are trading conditions different from standard accounts?
Trading conditions are largely similar to standard accounts, including spreads, leverage, and execution speed. However, instead of swap fees, an administrative fee may apply, and certain instruments might have specific conditions under the Islamic account structure.
Which instruments are available on the Islamic Account?
BDSwiss Islamic Accounts provide access to multiple asset classes such as forex pairs, commodities, indices, and sometimes cryptocurrencies. However, availability may vary, and some instruments could have adjusted terms to comply with swap-free trading policies.
Is there an additional cost for using the Islamic Account?
While swap fees are removed, BDSwiss may charge a fixed administrative fee after positions are held for several days. This ensures fairness and prevents misuse of the swap-free feature while maintaining compliance with Islamic finance principles.
How do I convert my account to an Islamic Account?
To convert your account, you must contact BDSwiss support after registration and request an Islamic status. The broker will review your request, and once approved, your account will be converted to swap-free trading conditions.
Can non-Muslims use the Islamic Account?
Although primarily intended for Muslim traders, non-Muslims may request an Islamic Account. However, approval is at the broker’s discretion, and misuse of the swap-free feature for arbitrage or unfair advantage may result in account restrictions.
Are there any restrictions on holding trades long-term?
Yes, some positions held for extended periods may incur administrative fees. This prevents abuse of the swap-free benefit and ensures the account remains aligned with fair trading practices while still complying with Sharia finance requirements.
Is the BDSwiss Islamic Account suitable for all trading strategies?
The account supports most strategies, including day trading and swing trading. However, strategies relying heavily on long-term holding without swaps may be affected by administrative fees, so traders should evaluate costs before committing to extended positions.
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