FBS provides Islamic swap-free trading at trading account levels. Cent Swap-free and Standard Swap-free. FBS accounts are ideal as they align with the Islamic Muslim faith and incur no swaps or interest charges on overnight positions.
FBS Islamic Account - key points quick overview
- ☑️Overview
- ☑️FBS At a Glance
- ☑️What exactly is an Islamic Account?
- ☑️Which financial activities are restricted and prohibited by Sharia law?
- ☑️How to Open an FBS Islamic Account step by step
- ☑️What are FBS’s spread costs on an Islamic Account?
- ☑️What other features does FBS’s Islamic Account have
- ☑️Pros and Cons
- ☑️Conclusion
- ☑️Frequently Asked Questions
Overview
- FBS is a popular online forex and CFD broker that is particularly enticing to South African traders due to its robust regulatory environment, which includes oversight by the Cyprus Securities and Exchange Commission (CySEC).
- FBS, founded in 2009, has targeted its offerings to beginner and seasoned traders.
- Its user-friendly interface streamlines navigation through numerous trading instruments, such as forex pairs, commodities, equities, and cryptocurrencies.
- FBS caters to various trading demands by offering a single trading account with flexible trading conditions, benefiting different trading styles and degrees of skill.
What exactly is an Islamic Account?
- An Islamic, or swap-free, trading account is one that is allowed by Islamic Sharia law. These accounts are based on the Islamic principle where interest is not applied to positions that are held open for longer than a trading day after the trading day has concluded.
- Islamic Accounts are provided by brokers who serve Middle Eastern clients, along with clients from other jurisdictions, and offer certain features that are in line with Sharia law, which prohibits the accrual of interest on funds deposited into the account.
- The other important feature of an Islamic Account is that transactions must be settled immediately, requiring that currencies be transferred from one account to the other right after the transaction has been completed and therefore paid for in full.
| 🚫 Prohibited Activity | 📋 Description | 📖 Sharia Law Reason |
| 🌙 Overnight Rollovers | Involves earning or paying swap interest for positions held open overnight. | Interest (Riba) is prohibited. |
| 💰 Margin Deposits & Interest | Interest earned on funds deposited into trading accounts. | Riba (unjust interest) is forbidden. |
| 🏦 Loans | Borrowing funds from banks or financial institutions that involve interest. | Involves Riba, which is not allowed. |
| 📉 Trading on Margin | Borrowing money from brokers to trade stocks or other assets on margin. | Results in interest payments (Riba). |
| 🔁 Short Sales | Borrowing assets (like shares) to sell with the intention of buying them back later at a lower price. | Considered speculative and involves Riba. |
| 📆 Forward & Futures Contracts | Trading contracts based on the future price of assets agreed upon today. | Contains elements of speculation (Gharar) and interest. |
Which financial activities are restricted and prohibited by Sharia law?
Due to the restrictions and certain prohibitions placed on Muslim traders when considering the intricate details involved with trading activities, the following is greatly affected:
- Overnight rollovers – which involve the incurrence or receiving of swap points on positions that are held open for longer after the trading day has concluded at the New York close at 5 PM EST- are prohibited by Sharia law.
- Margin deposits and interest, which involves the accrual of interest on funds that are deposited into the trading account, are prohibited.
- Loans – when followers of the Sharia law have funds transferred by either a bank or other financial institution, and it involves interest terms, this is prohibited by the Sharia law as per the key element, Riba.
- Trading on margin – stocks that are traded on margin result in the trader being liable for paying interest, which amounts to Riba, as money is borrowed from the broker to buy or sell such equities, which is prohibited by the Sharia law.
- Short sales – which affect mostly shares and involve borrowing and subsequent sale of an asset, which is prohibited.
- Forward sales – which affects forward contracts as well as the trading of futures contracts, which 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 an FBS Islamic Account step by step
To open an Islamic Account with FBS, South Africans can follow these steps:
Step 1 - Select the Open Account Option
- On the FBS website, navigate to Financials and select "Open Account."
Step 2 - Complete Information
- Provide an email address, a full name, and select ‘register as a trader.
- Alternatively, to provide contact information, traders can select the option to register using Facebook, Google, or an Apple ID
Step 3 - Select Password
- Select your own password or temporary password and then click on Create password.
Step 4 - Email confirmation
- Click on the link that was sent to your email. And then you will be on your dashboard.
Step 5 - Review, approval, and customer support
- Once reviewed and approved, traders can deposit their minimum requirement to activate their account and contact FBS customer support to request an Islamic Account conversion.
Changing account status to Swap-free
Changing account status to Swap-free is available in the Trader Area account settings. You can enable the Swap-free option on all real accounts while creating the trading account or in account settings. How can you switch it on:
- Select the needed account in the Dashboard
- Scroll down to find "Swap-free" in the "Account settings" section and click on the button to activate the option
On the account settings page, click on the switch next to "Swap-Free" to enable this option :
By opening a Swap-free account with FBS, the client agrees that the company may debit the fee from their trading account at any time.
Important Notes:
- Swap-free status must be requested and approved manually by FBS support after account registration.
- Not all instruments are fully swap-free—check the list in your FBS Trader or MetaTrader terminal.
- Spreads and commissions vary by account type (Standard, ECN, etc.)
What are FBS’s spread costs on an Islamic Account?
This will depend on the type of account that traders wish to convert into an Islamic Account. The spreads that traders can expect range between fixed and floating, and traders can expect the following:
- Standard Account – Floating spreads from 0.5 pips.
What other features does FBS’s Islamic Account have?
The features that traders can expect from their Islamic Account will depend on the account type that they choose; however, some standard features that traders can expect include:
- Spreads from between 0.0 pips and 3 pips.
- Leverage up to a maximum of 1:3000.
- Commissions start from $20 per lot on the Zero Spread Account, with the advantage that the other accounts are commission-free.
- Market execution, which starts from 0.3 seconds, STP.
- A minimum deposit starts from as little as $1 on the Cent Account.
- Access to a variety of bonuses.
- Access to powerful and dynamic trading platforms, through which trades can be executed seamlessly.
- Access to a range of tradable financial instruments across several asset classes.
- Access to trading tools and more.
FBS does not specify whether there are any additional charges on the Islamic Account. Neither is there any indication of whether Muslim traders may have to provide proof of their religion to qualify for an Islamic Account conversion. Details such as these must be confirmed with FBS before traders register a live trading account and deposit funds.
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FBS At a Glance
| 🔎Broker |  |
| Company Information | |
| 📅Year Founded | 2009 |
| 🧑🏻💻Amount of staff | 150+ |
| 👩💻Amount of active traders | 16 million+ |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | FSC, ASIC, CySEC |
| 🌎Country of regulation | Belize, Cyprus |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes |
| 🔋Investor Protection Schemes | ICF (for EU clients) |
| Account Types and Features | |
| ➕Accounts | cTrader, Raw Spread, standard |
| 💳Institutional Accounts | No |
| 👨💼Managed Accounts | Yes (PAMM) |
| 📇Minor account currencies | USD, EUR, GBP, THB |
| 💰Minimum Deposit | $5 USD |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 15 minutes to 24 hours |
| 🪙Fund Withdrawal Fee | Varies based on payment method |
| 📊Spreads from | From 0.0 pips |
| 💸Commissions | From $6 per lot (ECN Account) |
| 💱Number of base currencies supported | 6 |
| 🚀Swap Fees | Applicable (except Islamic accounts) |
| 📈Leverage | Up to 1:3000 |
| 📏Margin requirements | Varies based on asset |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | 0.2 seconds |
| 📆VPS Hosting | Yes |
| Trading Instruments | |
| 🧾CFDs-Total Offered | 200+ |
| 🗠CFD Stock Indices | 5 |
| ⚖️CFD Commodities | 6 |
| 📜CFD Shares | 100+ |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/Debit cards, Bank transfers, e-wallets |
| 💵Withdrawal Options | Credit/Debit cards, Bank transfers, e-wallets |
| Trading Platforms and Tools | |
| 💻Trading Platforms | MT4, MT5, FBS Trader App |
| 👩💻OS Compatibility | Windows, macOS, Android, iOS |
| 🖥️Forex trading tools | Economic calendar, market analysis, VPS, calculators |
| Customer Support | |
| 🗣️Live chat availability | Yes |
| 📱Customer Support email address | support@fbs.com |
| 📞Customer Support Contact Number | +357 25 313540 |
| 👾Social media Platforms | Facebook, Instagram, x, YouTube |
| 🗣️Languages supported on Website | 18+ Languages |
| Educational Resources and Support | |
| 🖺Forex course | Yes |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Articles, videos, tutorials, webinars |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 18,000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, the Qatar Economic Forum 2026 |
| 🪙Rebate program | Yes |
| 📝Sign up | 👉 Open Account |
Customers Reviews
⭐ Trustworthy This broker has acquired my trust because it provides everything required for profitable trading. All of the critical services I want are readily available and work wonderfully. Notably, newcomers will also find all of their demands satisfied here. - Samuel Khoza ⭐ Exceeds Expectations My choice to deal with them originates mainly from their infrastructure, which matches my expectations and continuously exceeds them. - Chloe Du Plessis ⭐ Great! FBS broker hits an outstanding balance: it is pretty easy and beneficial. Isn't that a fantastic combination? I am sure of it. Extensive research isn't necessary because all information about their services is easily accessible on their website, and a lot of information about the brand is available online. - Luke Meyer
Pros and Cons
| ✅ Pros | ❌ Cons |
| 24/7 dedicated customer support | High commissions on the Zero Spread Account |
| Award-winning broker | High spreads on some accounts |
| Bonuses offered across account types | Limited financial instruments – less than 100 |
| Both floating and fixed spreads offered | Limited trading platforms |
| Competitive trading conditions offered | Limited trading tools |
| Demo account and Islamic Account option offered | US, UK, Japan, Israel, and several other jurisdictions not accepted |
Conclusion
FBS provides Islamic swap-free trading on 2 trading account levels. Cent Swap-free and Standard Swap-free. FBS accounts are ideal as they align with the Islamic Muslim faith and incur no swaps or interest charges on overnight positions.
You might also like:
FBS Account TypesFBS Demo Account – Step by StepFBS Fees and SpreadsFBS Minimum DepositFBS Sign up Bonus
Frequently Asked Questions
Are Muslim traders from South Africa allowed to open an FBS Islamic account?
Yes, Muslim traders from South Africa are allowed to open an FBS Islamic account
Is the option of an Islamic Account available on all the FBS account types?
The option of an Islamic account with FBS is available on the Standard & Cent account. The Islamic account offers swap-free trading and aligns with the Muslim faith by incurring no swaps or interest charges on overnight positions.
What are the available deposit currencies for an Islamic account with FBS?
Deposit currencies available on the FBS Islamic account are USD and EUR.
How many instruments can I trade with the FBS Islamic account?
You can trade Forex, Metals, Energies, Indices, CFDs, Cryptocurrencies, and Stocks
Which platforms are supported by FBS?
FBS supports the MetaTrader 4 and MetaTrader 5
Does the FBS Islamic account charge swap fees?
No, the FBS Islamic account is completely swap-free. This means traders are not charged overnight interest fees for holding positions open. The account is designed to comply with Islamic finance principles, ensuring trading conditions align with Sharia law.
What is the minimum deposit for an FBS Islamic account?
The minimum deposit for an FBS Islamic account depends on the account type selected, such as Standard or Cent. In many cases, traders can start with a relatively small deposit, making the account accessible to beginner traders.
Can beginners use the FBS Islamic account?
Yes, beginner traders can use the FBS Islamic account. It offers the same trading tools, platforms, and market access as standard accounts, but without swap charges. This allows Muslim traders to trade comfortably while following Islamic financial principles.
Does the FBS Islamic account have different spreads?
Spreads on the FBS Islamic account are generally similar to those offered on standard trading accounts. However, depending on trading conditions or instruments, spreads may vary slightly because swap fees are removed from the trading structure.
Can traders convert an existing FBS account to an Islamic account?
Yes, traders can request to convert an existing eligible FBS account to an Islamic swap-free account. This request is usually submitted through the client area or customer support, allowing traders to maintain Sharia-compliant trading conditions.
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