FBS – Islamic Account
FBS is one of the popular Forex brokers with an excellent reputation in the financial market. This FBS offers Islamic account to the traders belonging to the Islamic faith. FBS Islamic Account does not generate any swap or interest in the process of trading. By doing so, these accounts remain Sharia compliant. The FBS website comes with localized content in several languages, including Arabic, Hindi, Urdu, Malay, and Chinese language. FBS Saudi Arabia has an exclusive website (fbs.ae) for Arab speaking clients.
Opening an Islamic Account with FBS
Visit FBS sign up page. Select the Islamic Account while opening the account. You can also chat online or call the customer service to activate your Swap Free or Islamic Account.
FBS Saudi Arabia
FBS has its dedicated website and customer service for traders on the GCC region. The website in the Arabic language and the customer support team speak Arabic as well. They are familiar with Islamic Forex Trading Accounts concerning Islamic principles. The support team of FBS Saudi Arabia will be happy to help you with all the difficulties you face with your account.
- Website: fbs.com
- Country: Belize
- Regulation: CySEC, IFSC
- Established: 2009
- Maximum Leverage: 1:3000
FBS Registration and Regulation
The FBS group operates with the following address;
FBS Markets Inc.; Registration No. 119717; FBS Markets Inc is regulated by IFSC, license IFSC/60/230/TS/18; Address: No.1 Orchid Garden Street, Belmopan, Belize, C.A.
FBS Account Types
FBS Standard Account
The FBS Standard accounts start with a $100 initial deposit. The spread for standard account starts at 0.5 pips. These accounts are suited for experienced traders. The leverage offered is 1:3000.
FBS Cent Account
The beginners in Forex market sometimes want to try it with a small investment. The FBS Cent Account is perfectly suited for them. The Cent account minimum deposit is $1. The spread starts from 1 pip only. Cent account traders can avail 1:1000 leverage for trading.
FBS Micro Account
FBS Micro Account starts with a $5 initial deposit. There is a fixed spread starting at 3pips. The traders who want fixed spread and small volume trading use FBS Micro Account.
FBS Zero Spread Account
FBS zero spread account is the most preferred account among traders. This type of account is good for traders who prefer speed and low expenditure while trading. The spread is variable and starts at 0 pips. Zero Spread account requires a minimum deposit of $500.
FBS ECN Account
The traders who want full-featured ECN account prefer FBS ECN account. The initial deposit for FBS ECN Account is $1000. The spread starts at 0.5 pips. The asset pricing at FBS is set at 5 digits precision. All transaction are instantly processed, there is no requote.
FBS ISLAMIC REVIEW – Trading Fees
The spreads offered by The FBS vary according to the type and region of the account. Now, for EUR / USD, Global Firm offers 3.0 pip in its micro account, 1.1 in Standard and Cent Accounts, and zero pip spread in zero and ECN accounts.
In addition, the same spread 0.7 pip with the Standard and the Cent accounts in the EU. Our review is pleased to see competitive spreads with Zero and ECN Accounts.
The Global Branch charges a minimum fixed rate commission of 20 USD per lot on the Zero Spread account and $ 6 on the ECN account. In addition, it charges 3 USDfor share trading and 25 USD for CFD trading. Although, the commission for opening and closing positions in the broker’s crypto trading account is 0.05%.
FBS charges an overnight rollover fee (available swap-free) and a cancellation fee of €5 for transactions taking advantage of price delays. In addition, the accounts deactivated for 180 days are charged a 5 monthly fee.
FBS Leverage
The maximum leverage available depends on the type of account and the branch. In EU, brokers offer leverage up to 1:30 in standard and cent account types. Worldwide, it offers up to 1: 1000 in Cent Accounts, 1: 500 in ECN accounts and up to 1: 3000 in other account types.
FBS’s margin calls are 40% and less, then it is entitled to close a client’s position.
FBS Trader App
The owner and CEO confirmed that FBS Trader is a free and fully featured trading app. It can be easily downloaded from the Google Play to Android (APK) device. It is also available on iOS outside the EU. The broker’s downloadable app offers real-time statistics and easy management, as well as forex and top tools for trading.
MT4 & MT5 Apps
Both MetaTrader platforms are available as mobile apps from the App Store and Google Play. The app features key features of native platforms, including one-click trading with technical analysis.
Payments
The minimum deposit in an online forex broker is different for each account type and trading area. An initial deposit of 10 euros is required in the EU firm’s cent account and 100 euros in the standard.
Worldwide branches offer minimum deposits of, 1, $ 5, $ 100, $ 500, and $ 1000 for Cent, Micro, Standard, Zero Spread and ECN accounts, respectively. Glad to see our review offer low minimum deposit.
There are many deposit and withdrawal methods available, including wire transfer (EU only), Visa and electronic payment systems, such as Skrill and Neteller.
All procedures for deposit of wire wire are instantaneous and withdrawal takes up to 48 hours. Withdrawal from the Global FBS firm may result in a commission fee and an identification document may be requested.
FBS ISLAMIC REVIEW – Demo Account Review
FBS offers demo versions of cents and standard accounts in the EU. MT4 and MT5 integration are available and various instruments are offered to practice trading with zero deposit requirement.
Once you are comfortable with the broker’s services, you can sign up for a live account.
Trading Bonuses
FBS is currently handling the ‘Level Up’ bonus. Open a Level Up Bonus Account and you can get $ 70. This can be increased up to 140 using the FBS Personal Area app. Full details are available on the T&C FBS website.
Licensing
FBS is a legitimate broker with regulatory authority.
The company that owns EU branch of FBS is regulated by the (CySEC)Cyprus Securities and Exchange Commission.
In addition, The global branch is regulated by the International Financial Services Commission (IFSC) in Belize.
ASIC also regulates the brand in Australia and FSCA in South Africa
Licenses:
ASIC 426359
CySEC 331/17
IFSC/000102/198
FSCA 50885
In the EU, brokers also provide negative balance protection to retail clients. Overall, we’re glad FBS isn’t a scam.
Note that US traders cannot register for an account, although clients from most other countries, including Canada, India and Nigeria, are accepted.
FBS ISLAMIC REVIEW – Additional Features
The FBS website has an analysis section with resources including Forex-related news, market updates and a Forex TV feature that showcases informative videos, weekly insights and trading plans. The broker offers an economic calendar available in the mobile app and a wide range of educational tools such as live webinars and tutorials as well as forex calculators.
Copy Trading
FBS’s CopyTrade solution allows newcomers to replicate the success of top traders with secure, flexible trading tools. Clients can use user-friendly mobile apps to compare traders, allocate funds and create a unique trading portfolio.
Also, for new traders, FBS offers the first three trades risk-free. When the traders sign up for the first time, they should click to opt-in to the risk-free promotion and then choose to copy each trader up to 100 USD. When business profits stop, you get to keep returns. If they cause a loss, you will be reimbursed your original deposit.
FBS ISLAMIC REVIEW – Trading Accounts
New clients have a variety of live account options.
In the EU, brokers offer Standard and Cent Accounts. Global Branch offers additional Micro, Zero Spread, and ECN accounts. The order quantity is the same across the account type.
ECN accounts have no trading limits and are marketed by ECN unlike other accounts using STP. In general, the more deposits you can make, the higher the level of the account and the more competitive the trading requirements will be.
FBS also provides a dedicated crypto trading account for aspiring digital currency investors. The traders can position themselves on leading tokens with a suite of analytics tools and features to enhance the trading experience. Leverage up to 1: 5 is provide with the broker’s crypto trading solution.
While opening an account, traders will need to submit documents to verify their name, address and the country from which you are registering.
FBS ISLAMIC REVIEW – Pros and Cons
Benefits
Advantages of trading with FBS include:
- MT4 and MT5 integration
- Ultra-low minimal deposits
- Competitive zero-pip spreads
- Cryptocurrency trading account
- Range of promotions & deposit bonuses
Drawbacks
Bad areas flagged in our review include:
- Fewer account and trading options in the EU
- Commissions payable on many trade types at the global firm
Trading Hours
The FBS Broker website is available at all times. The opening time of each asset totally depends on the market and time zone, but Forex runs 24 hours a week.
This FBS broker also provides a Virtual Private Server (VPS) service, allowing clients to place their trading platform on a virtual machine 24/7.
Customer Support
The Customer support is only available in English, Spanish, Portuguese, French, German and Italian:
- Address – Vasileos Georgiou A 89, Office 101, Potamos Germasogeias 4048, Limassol, Cyprus
- Email – info@fbs.eu
- Live chat – logo in bottom right
- Contact number – +357 25313540
Global
The Contact options including live chat, callback, and WhatsApp are available on the global website.
Trader Safety
FBS ensures the traders personal information and privacy are protected. Transaction information is also secured using Transport Layer Security (TLS). The MetaTrader platforms also provides dual-factor authentication at the login level for added security.
FBS Verdict
FBS Broker is an international forex broker that offers FBS Trader app as well as low deposit and various trading accounts with MT4 and MT5 integration. Spreads are competitive, and both new and advanced traders will feel at home with this broker.
Accepted Countries
FBS Broker accepts traders from Australia, Thailand, United Kingdom, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, South Africa, United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Luxembourg and most other countries.
The traders can not use FBS from United States, Canada, Myanmar, Japan, Brazil, Israel, Iran.
How To Join The FBS Loyalty Program
To get started, investors need to open a live FBS trading account. Users then have to go to their private area and select ‘Join’. Once registered, clients only need to open and close positions to collect loyalty points. Trade placed on both mobile and desktop devices.
The FBS Loyalty Program already has millions of active participants and its latest upgrade to the rewards on offer will undoubtedly attract more aspiring traders.
FBS ISLAMIC REVIEW – FAQ
Where is FBS regulated?
The FBS broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) in the EU and elsewhere by the International Financial Services Commission of Belize (IFSC).
Is FBS a good broker?
FBS is a legal broker and not a scam. It is licensed by reputable financial authorities and has positive online reviews.
Does FBS offer any bonuses?
The global branch of FBS offers 100 percent deposit bonuses and promotions where no deposit is required. This broker also offers trader competition and a VPS service.
What is the minimum deposit at FBS?
Customers can open an account at branches worldwide for $1 and in the EU for $ 10. The higher the initial deposit, the tighter the spread and the better the trading features.
Which platform does FBS offer?
FBS has both MT4 and MT5 platforms available in any browser and as a mobile app. This trading broker also offers FBS Trader, an in-house mobile application.
Does FBS Broker trade on Nas100?
Yes, clients can trade on three major indices including NASDAQ and S&P 500, Dax30, and Dow Jones.
Free or premium? Or both?
Take a look at the actual cost and whether FBS is really free.
Is this broker good for beginners?
We tested it to see if FBS is good for beginners.
How do you withdraw money from FBS?
Fund withdrawal from FBS is easy and takes comparatively less time. The withdrawal requests are processed in a few hours and it may take from a few hours to 2 to 3 days to reach your account depending on the channel you have selected. Most parts of the time taken are by the Banks and the payment processing firms. We tested it and collected options and costs on how to raise money on FBS.