FBS Islamic Account Review

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 trading process. 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.

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FBS Account Types

• Cent Account: This account type is designed for beginners and those who want to trade with minimal risks. The minimum deposit is only $1 and you can trade with a leverage of up to 1:1000. The spread starts from 1 pip. In this account, the money is denominated in cents, so you can trade with less money.
• Micro Account: This account type is perfect for beginners or those who want to try out new strategies without risking a lot of capital. The minimum deposit required is only $5 and you can trade with a leverage of up to 1:3000. The spread starts from 3 pips.
• Standard Account: This is the most common type of account and is suitable for all types of traders, from beginners to experienced. The minimum deposit is $100 and the spread starts from 1 pip. This account offers a maximum leverage of 1:3000 and allows for hedging.
• Zero Spread Account: This account type is best for those who want to know in advance the exact spread size. The minimum deposit is $500 and, as the name implies, the spread is 0 pips. The account offers a maximum leverage of 1:3000 and there’s a fixed commission of $20 per lot.
• ECN Account: This account type is for professional traders who prefer the best trading conditions with tight spreads. The minimum deposit is $1000 and the spread starts from -1 pip. This account offers a maximum leverage of 1:500 and there’s a commission of $6 per lot.

FBS Islamic Account

FBS Islamic Account features are specifically tailored to meet the requirements of those who follow the Islamic faith. These accounts are also known as swap-free accounts as they comply with the Islamic Sharia law that prohibits any form of interest (Riba). FBS Islamic accounts feature no swap or rollover interest on overnight positions, which is against the Islamic faith. These accounts also provide the opportunity to trade without hidden costs, and they guarantee no re-quotes or delays in order execution.

Furthermore, the FBS Islamic Account offers a wide range of trading instruments and allows traders to hold their positions for an unlimited period, without incurring any charges. This ensures a fair and ethical trading environment for Muslim traders.

Instruments Tradeable with FBS Islamic Account

• Forex: This includes trading in various currencies from around the globe. Forex trading is a popular choice due to its high liquidity and 24/7 availability. It involves buying and selling different currencies and earning profits from the changes in their exchange rates.
• Metals: This includes trading in precious metals such as gold, silver, platinum, and palladium. These are considered as safe-haven assets and are often used by traders to hedge against inflation or economic downturns.
• Indices: This refers to trading in a group of stocks that represent a particular market or a segment of it. Indices allow traders to invest in many companies at once, reducing the risk associated with investing in individual stocks.
• Energies: This involves trading in energy commodities such as oil, natural gas, and ethanol. The energy market is highly volatile and offers opportunities for high returns.
  
• Stocks: This includes trading in individual company stocks. Investing in stocks allows traders to take a share in the company’s profits through dividends or capital appreciation.
• Forex Exotic: This refers to the trading of exotic currency pairs, which are less commonly traded than the major currency pairs. Exotic currency pairs often involve currencies from emerging or smaller economies. These pairs are typically more volatile and less liquid than major pairs, but they can offer significant profit opportunities for experienced traders.

FBS Deposit Options

• Bank Wire Transfer: Processing time for this method is usually between 2-5 business days. The fees vary depending on the bank but FBS does not charge any fees from their side.
• Credit/Debit Card: FBS platform accepts both Visa and MasterCard. The processing time for this method is instant. FBS does not charge any fees for this deposit option.
• E-Wallets: FBS accepts deposits from various e-wallets like Skrill, Neteller, Perfect Money, and more. The processing time is instant and no fees are charged by FBS. However, the e-wallet provider might charge a fee.
• Local Bank Deposit: This option is available in some countries where FBS operates. The processing time varies and can take up to 2 hours. No fees are charged by FBS.
• Cryptocurrencies: FBS broker also accepts deposits in Bitcoin. The processing time is usually around 15-30 minutes. No fees are charged by FBS, but the network might charge a transaction fee.
• Exchangers: FBS works with numerous exchangers across the world to provide more local deposit options for their clients. The processing time and fees depend on the exchanger.

Please note that the processing time and fees can change depending on the deposit method and the country of the client. The FBS minimum deposit amount depends on account type. It’s recommended to check the FBS website or contact their support for the most accurate and up-to-date information.

FBS Withdrawal Options

• Wire Transfer: This is a traditional method where you can transfer your funds directly to your bank account. The processing time usually takes 2-5 business days.
• Credit/Debit Card: You can also withdraw your funds directly to your Visa or MasterCard. Instantly processed but may take up to 5 business days to reflect in your account.
• E-Wallets: FBS Forex supports various e-wallets like Neteller, Skrill, SticPay, Perfect Money, and others for withdrawal. The processing time is instant.
• Local Exchangers: In some countries, FBS has local exchangers who can convert your funds into local currency and transfer them to your local bank account. Processing time can vary, but usually within 24 hours.
• Cryptocurrencies: FBS Forex also supports withdrawal in cryptocurrencies like Bitcoin. This can take up to a few hours depending on the blockchain traffic.

Note: The availability of these options may vary based on the user’s location and local regulations. Always check the fees and processing times associated with each method. The FBS minimum withdrawal amount may vary depending on the withdrawal method used.

FBS Broker Trading Platforms

FBS, a renowned trading platform, provides a variety of options to cater to all types of users. Specifically, it offers different versions of the MetaTrader platform, namely FBS MetaTrader 4 (FBS MT4) and FBS MetaTrader 5 (FBS MT5), each with unique features and functionalities.

MetaTrader 4 is one of the most popular trading platforms globally and is available on various operating systems.

• Android: MetaTrader 4 for Android provides a fully-featured trading operation with all types of execution modes, complete trading history, and interactive charts. It ensures easy accessibility and enables traders to keep track of their trades from anywhere in the world.
• iOS: MT4 for iOS offers an intuitive interface, real-time monitoring of quotes, a full set of trade orders, and various execution modes. It is optimized for iPhone and iPad, ensuring a seamless trading experience.
• Windows and Mac: MetaTrader 4 for Windows and Mac provides a comprehensive and easy-to-use interface, advanced charting tools, and a variety of order types. It is ideal for both novice and experienced traders.
• Web: MT4 Web allows trading directly from a browser without the need to download or install any software. It provides real-time price quotes, multiple chart types, and technical analysis tools.
• Multiterminal: MetaTrader 4 Multiterminal is perfect for those who manage multiple accounts as it allows simultaneous management and trading of different accounts.

Similarly, MetaTrader 5 also caters to various platforms:

• Web: MetaTrader 5 Web offers an intuitive interface, real-time market monitoring, and instant order execution. It can be accessed directly from a browser, eliminating the need for downloads or installations.
• Android and iOS: MT5 for Android and iOS ensures convenient trading on the go, with interactive real-time charts, full trading history, and various execution modes. It is optimized for both phone and tablet devices.
• Windows and Mac: MetaTrader 5 for Windows and Mac offers advanced charting tools, multiple order types, a user-friendly interface, and much more, catering to both beginners and seasoned traders.

FBS VPS-server

One of the key features provided by FBS Forex is the Virtual Private Server (VPS) server. A VPS server is a virtual machine offered as a service by an Internet hosting provider. It allows traders to run their automated strategies 24/7, ensuring a fast and stable connection to the FBS Forex trading platform. It also eliminates the need for traders to keep their computers running all the time, thus saving energy and resources. In addition, the VPS server offers a high level of security, protecting traders’ data and transactions from potential threats.

FBS Analytics

FBS Analytics refers to the analytical tools provided by FBS, a reliable online trading platform, to help investors make informed decisions in forex trading. These tools provide a comprehensive analysis of the forex market, which includes the examination of currency trends, market volatility, and other economic factors.

• Forex Analytics is a general term that refers to the techniques used to analyze the forex or foreign exchange market. It involves two main types of analysis – fundamental and technical. Fundamental analysis considers factors like the economic, social, and political forces that affect the supply and demand of currencies. Meanwhile, technical analysis looks at patterns, trends, and movements in the market to predict future price movements.
• Market Analytics is a broad term that refers to the methods used to analyze various markets, not just the forex market. It involves the use of statistical data from market trading such as price, volume, volatility, etc. to make informed decisions about future market trends.
• VIP Analytics is likely a premium service offered by FBS or other trading platforms. This service typically includes advanced analytical tools, personalized trading advice, and other exclusive features designed to help high-volume traders make more informed and profitable trading decisions.

Education Resources

FBS provides a variety of resources to help educate its users on Forex trading. These resources offer a comprehensive understanding of the Forex trading market and how to successfully navigate it.

• Forex Guidebook: The Forex Guidebook is an essential tool for any trader. It provides a detailed overview of the Forex market, including how it works, key concepts, and strategies for successful trading.
• Tips for Traders: These tips offer practical advice on how to be a successful trader. They include strategies for risk management, market analysis, and trading psychology. These tips can help traders at all levels improve their trading skills and profitability.
• Webinars: FBS offers live webinars that provide in-depth discussions on various aspects of Forex trading. These sessions are led by experienced traders or industry experts, and they offer an interactive way to learn and ask questions.
• Video Lessons: These lessons offer visual and auditory learning for traders. They cover a wide range of topics, from basic trading concepts to advanced strategies and techniques.
• Seminars: FBS also holds seminars where traders can meet and learn from experienced professionals. These events offer a chance to network with other traders and gain insights from industry experts.
• Glossary: The glossary is a helpful tool for beginners to familiarize themselves with common Forex trading terms. It provides clear definitions of key concepts, making it easier to understand trading strategies and market analysis.

FBS Trader’s Tools

The FBS Trader’s Tools includes a variety of helpful instruments for traders.

• Economic Calendar: This tool allows traders to keep track of all important economic events and indicators that drive the forex market. It provides real-time updates on different economic data releases from all over the world and helps traders anticipate possible changes in currency rates based on economic news. The calendar includes data such as the date and time of the event, the country it’s related to, the level of importance, the previous data, the forecast data, and the actual data.
• Forex Calculators: These calculators are designed to make numerical strategies easier for forex traders. They can help to calculate aspects such as pip value, margin, swap, and profit. Traders can use these tools to plan their trades and manage risks effectively.
• Currency Converter: This tool helps traders to convert one currency into another at the current exchange rate. It is useful when you need to determine the value of a currency pair. The currency converter updates in real-time, allowing traders to make decisions based on the most up-to-date information. This can help them to react quickly to changes in the market.

All these tools are essential for traders to make informed decisions and manage their trades efficiently in the turbulent forex market.

Is Trading with FBS Halal in Islam?

FBS has made significant strides to ensure its services align with Islamic principles, thereby making it halal. They offer an option for a “Swap-Free” account, also known as an Islamic account, which removes the concept of interest, a factor deemed ‘haram’ or forbidden in Islam. This allows Muslim traders to engage in forex trading without breaching their religious beliefs. This accommodation by FBS is in line with the ethical guidelines of Islamic finance, which emphasizes fairness, transparency, and mutual consent, making FBS forex broker halal in Islam.

Is FBS safe to trade with?

FBS forex broker is renowned for its robust security measures and has been deemed safe to trade with by numerous financial experts. It is a highly regulated broker, adhering to the strict standards set by international regulatory bodies. This ensures that traders’ funds are well-protected and their transactions are transparently conducted under strict financial laws. Moreover, FBS platform uses advanced encryption technology to protect sensitive data from being intercepted or hacked. It also maintains segregated accounts for its clients, ensuring their funds are separate from the company’s operational funds. Thus, FBS Forex broker presents a safe trading environment for forex traders.

FBS Islamic Account Review – Conclusion

In conclusion, the FBS Islamic Account offers an impressive option for those who wish to trade within the confines of Sharia law. It eliminates the concept of swap or interest, making it fully compliant with Islamic principles. Also, it provides access to all the trading instruments available on FBS, including forex, commodities, indices, and stocks. The account comes with flexible leverage and tight spreads, which further enhance trading opportunities. Additionally, the 24/7 customer support ensures that users can get assistance whenever needed. Overall, the FBS Islamic Account is a robust and ethical trading option for Muslim traders.