Fbs islamic account

Well, that is because we have uncovered all of the FBS account types available to you and also provided some detailed information about the features and benefits of each type.

Free forex bonuses

FBS Account Types, Features and Openings (2021), fbs islamic account.

FBS copytrading is available through standard and micro accounts of international IFSC-based traders only. FBS copytraders are also known as investors, therefore, you could also term this as a type of FBS investor account.

FBS account types, features and openings (2021)

If you are considering opening an FBS account of any type then this is the right place for you.

Well, that is because we have uncovered all of the FBS account types available to you and also provided some detailed information about the features and benefits of each type.

This should ultimately help you make the best choices when going through the FBS account opening process.

Along with our FBS review, this will help to keep you fully informed.

Let’s get started with a detailed look at all of the FBS account types and what they have to offer.

74-89% of retail CFD accounts lose money

FBS account types for cysec – european market

Being regulated by cysec, FBS has the benefit of boasting top-flight regulation which is respected around the financial world. This brings which it certain slight differences between the FBS account types available to the european market, and others.

European market trading information

A total of 28 currency pairs are available to traders within FBS who are operating within european markets. These include all the major pairs you would expect, along with a range of others. Additionally, trading in 2 metals markets is available.

Within FBS EU, MT4 is the sole trading platform which is made available. Managed accounts like MAM and PAMM are also not made available to FBS european traders.

Overall, there is still a fantastic range of options for all european users to choose from when opening and FBS account.

Demo account

Your FBS demo account as a european user is available for a 90-day trial. After this period it does expire, but you are free to create another FBS demo account whenever you wish.

The FBS demo account is available for each account type available to FBS cysec traders. This means standard and micro demo accounts are available.

The FBS demo account features the exact same features and benefits as FBS live accounts. This allows you to completely replicate live trading conditions. There is also the possibility of slippage during busy market period or times of volatility.

Cent account

The FBS cent account is available to cysec users and great for those who wish to trade with smaller amounts but still experience the great features of an FBS live account.

On this account you can trade with cents (and sense). That makes for smaller volumes of trading and ultimately lower risks. With that said, an FBS leverage of 1:30 is still available.

The minimum deposit for an FBS cent account is low at just €10, the account features a 1 pip floating spread and offers commission-free trading.

Standard account

An FBS standard account is the option which many EU-based traders usually opt for. You can open your FBS standard account with a €100 deposit.

The FBS standard account also features a floating spread from 1 pip, a 1:30 leverage availability (the maximum FBS leverage permitted within europe due to regulation), and commission-free trading once again.

Islamic account

Having an FBS islamic account is a very important feature for those who wish to follow shariah law. This is something which FBS does provide for.

The FBS islamic account is available to holders of both the FBS cent account, and standard account traders.

Through the FBS islamic account, exotic forex pairs along with cfds are unavailable, although every other FBS account feature and market function is available through the account.

FBS account types for IFSC – international market

Moving to the types of FBS accounts which are available to international users, there are a few more. These are still very well regulated by the IFSC for your protection as a trader.

International market trading information

Firstly, quite a few more account types markets are available through the FBS international account. These include a total of 35 currency pairs alongside 4 metals, 3 cfds, and 4 cryptocurrencies.

Also available are more trading platforms in the form of MT4 with multiterminal compatibility, MT5 where both MAM and PAMM accounts are available for use, and the proprietary FBS trader platform.

A VPS (virtual private server) is also available for use if needed where you meet the FBS requirements.

Demo account

An FBS demo account is of course available for international traders. This demo account differs slightly in that it is available for a 45-day trial period. You can then create a new demo account after these 45 days.

Again this FBS demo account has many of the same benefits as an FBS live account and there is no limit to the accounts which you can open with every type made available. As with the EU demo account, slippage may occur during busy markets periods.

Cent account

An FBS cent account is available for international users. Similar to the FBS european cent account, a very minimal deposit of $1 is required. This account also features a floating spread from 1 pip and is commission-free.

Trading through this account is done using the STP method, and it is a great way to get started in learning to trade with FBS.

Standard account

The FBS standard account which is made available to international traders features a $100 minimum deposit. This account has spreads which are floating and start from 0.5 pips.

The STP processing method is also used here, and you can avail of commission-free trading as standard and an impressive maximum FBS leverage of up to 1:3000.

Micro account

An FBS micro account is available if desired to FBS international traders. This account is something of a meeting between the FBS cent account and a standard account. The FBS minimum deposit is $5 here, and a fixed spread starting from 3 pips is implemented.

This account also provides for a maximum FBS leverage of 1:3000, and commission-free trading with the STP processing method being used.

Zero account

The FBS zero account provides for a great fixed spread from 0 pips to the FBS traders who are based outside europe. This also comes along with extensive leverage of up to 1:3000.

The STP processing method is used to make sure of the best possible trade, and a commission of $20 per lot is charged. The FBS minimum deposit for opening a zero account is $500.

ECN account

An FBS ECN account is available. This requires a $1000 minimum deposit and holders can benefit from leverage of up to 1:500.

The FBS ECN account commission is $6 and the spreads start from -1 pips. This account type offers just forex currency pairs trading.

Islamic account

As with the FBS EU based traders, international traders can also benefit from the availability of an FBS islamic account. This is available with every account type offered and the only exceptions in terms of market availability are that exotic forex trading and cfds are unavailable.

FBS secondary accounts

FBS secondary accounts are limited if you are a european trader based under cysec. The options here do not really extend beyond the standard and micro accounts mentioned.

As you can see from the categories above though, you have lots of choice if you are using the international side of FBS. You will also be able to open a copy trading account if you wish. You can use this account to either copy trades or provide your own signals.

FBS copytrading is available through standard and micro accounts of international IFSC-based traders only. FBS copytraders are also known as investors; therefore, you could also term this as a type of FBS investor account.

FBS live account openings

Now that you have hopefully chosen your account type, let’s move to highlighting some of the finer points and features which you may wish to know about when operating an FBS account.

Account opening

FBS account opening should be a relatively easy process which you are guided through in a few simple steps. You should first visit the FBS homepage of your jurisdiction and from there you will be guided through the registration process step by step to get your FBS live account up and running.

Account verification

FBS verification is another required step in the process of trading with your FBS live account. This can be completed online as long as you have a few basic documents to hand. These include a proof of you identity document and also a proof of your residence.

Account currency

FBS account currency is available as euro only for those based in europe. If you are utilizing the international FBS though you will also have the option of a USD base currency.

It should be remembered that other currencies can be used but these will then have to be converted into USD or EUR depending on your location. Any conversion fee which you incur will depend on your payment method.

For those based in south africa, the ZAR is not available as an FBS base currency.

Minimum deposit

The FBS minimum deposit is as shown above and varies depending on your location. For those based in europe, this means it is either €10 or €100. If you are using the international FBS regulation, the minimum deposit can be anywhere between $1-$1000 depending on account type.

Account funding

As mentioned, you FBS account funding from europe can be completed in euro currency only.

If you are holding an international account, you can fund with any but this will be converted to USD or EUR and you may be charged a fee depending on your payment method.

On special case is if you are indonesian. In this case you can activate a fix-rate currency exchange of 1 USD – 10,000 IDR (indonesian rupiah) for your account funding. Once this is activated, you cannot go back.

Deposit

For FBS deposits from europe, these are typically fee-free. They are also usually instant when we consider the time it takes to deposit. The exception is bank transfers which may charge a small fee and take 3-4 days for processing.

International account deposits are also usually fee-free. Sticpay and perfectmoney do charge a fee, although every FBS deposit method offered here can be instant in nature.

Withdrawal

FBS withdrawal methods within europe are typically fee-free. These are usually also processed in the same business day. Bank transfers may apply some fees and usually take 48 hours to process.

If you are holding an international FBS account, the withdrawals are also usually charging no fee and processed within 15-20 minutes. Some fees may be charged depending on the method. Bitwallet withdrawals are completely instant.

Bonuses, promotions, contests and special services

FBS offers a wide range of bonuses, special events, and contests which rival many top forex brokers. Unfortunately, due to regulation and ESMA in particular, european users cannot avail of any FBS bonus offers.

As an international account holder though, there are many available. Anyone looking for the FBS 123 bonus and FBS 50 bonus will find these have expired but there are still many great offers to select from.

These include a 100% deposit bonus. A no deposit bonus of $100 may also be available though this can only be withdrawn once you have met certain trading requirements.

The partner IB account program also allows for money to be earned through referring new users and there is a generous FBS loyalty program.

When it comes to other offers and contests, FBS pro allows for a demo account contest where you receive a $10,000 demo account and 1:100 leverage. After 2 weeks of trading with this account, the top earners receive a prize of up to $450.

There are also cashback offers of up to $15 per lot traded, and regular chances to win cars and holidays as well as special FBS ramadan events. This ramadan event in 2019 resulted in the donation to charity of accumulated spreads and IB commissions for the period.

FBS account management

The final area to take a look at is some issues which may pop up as you are running your FBS account. These are things which you may wish to know more about how to deal with if they do come up.

Account expiring and reactivation

This area of FBS account expiration is something which differs slightly between europe and the international accounts.

Within both europe and international, your demo account does not expiry through inactivity, though they do have time limited trial periods as you can see above. Once this has happened, they can be reactivated simply by opening another demo account.

On the issue of your FBS live account, in europe this would be disabled after 180-days of inactivity. It can be reactivated through contact with FBS and if it remains inactive, the broker will charge a €10 fee per year. If the account balance is insufficient to cover the fee, the account will be closed and the owner notified.

On the international side, live accounts are disabled after 90-days of inactivity. No inactivity fee is imposed, and again if you wish to reactivate, you should simply contact FBS.

Invalid account error

If you are receiving this error, it may be due to having your username or password incorrect. If this is the reason, you should check them remembering they are case sensitive, along with the server you are using.

Close account

In rare cases, you may wish to close your FBS account. To begin the FBS close account procedure on a europe-based account, simply contact FBS for assistance.

On your international account, it cannot be immediately deleted. The best way is to simply leave your account inactive for 90-days after which it will be disabled.

74-89% of retail CFD accounts lose money

Best swap free islamic forex brokers for halal trading

Top rated:

best-swap-free-islamic-halal-forex-brokers

As a forex trader, there should be many options and account types open to you with the very best forex brokers. A key one of these account types is the islamic account.

As a broker trading with an islamic account, you will be doing so in compliance with shariah law. This means that all of your trading will be swap-free.

We have taken time to conduct the most in-depth broker reviews possible and have compiled this list of what we feel are the best swap free brokers for you to choose from.

Top 10 best swap free islamic forex brokers for halal trading

Below the 10 best names in the industry if you are of islamic faith, and you want to trade forex with an halal compliant broker.

XM as a forex broker is one of the most easily recognizable and top brokers in the world. The broker has managed to collect a variety of awards including that of the “best broker in australasia”. They have collected similar awards for the europe and MENA regions.

When it comes to accounts and XM swap-free accounts in particular, you will be presented with a variety of choices. These include a total of 6 islamic accounts that are available. Everything from the XM zero spread account, to their micro trading account, and stock trading account is available as islamic accounts.

The XM minimum deposit on these account types starts from a great value $5 and ranges up to $100 with the XM shares account being available only with a minimum of $10,000 deposit.

When we consider spreads on these accounts, we found that they start from 0 pips and that both MT4 and MT5 trading platforms were available. Trading conditions remain the same for XM islamic accounts in that there are no additional markups, commissions, or increased spreads.

2. Avatrade

Avatrade is another top broker that caters very well for islamic traders. They do so through the provision of 4 swap-free account types. These account types require a minimum avatrade deposit of $100 to get started.

The trading accounts available include retail, standard, options, and a spread betting account. With the spread betting account though, this can be considered as a form of gambling within islamic laws. With that knowledge then, while we recommend the brokers other islamic account types, we would not recommend spread betting.

The avatrade spreads start from 0 pips and all of the trading platforms including MT4, MT5, avatrade go, and the avaoptions platform are available. In terms of fees, while these are limited and there is no admin fee, spreads with these account types will be slightly higher.

Avatrade is well-regulated by the highly respected cysec and ASIC so you can have complete trust in their operations. A number of base currencies are also made available.

3. FBS

FBS is a top forex broker that has a great reputation, particularly for new traders. They provide a total of 5 swap-free accounts and so, are well-equipped in this regard. Included in these account types are both a micro trading cent account, and an ECN account that is only available outside europe.

The FBS minimum deposit for traders within europe is a great value $10. If you are outside europe, this reduces to just $1. It is also often considered to be the best broker for indonesian traders. This is due to the fact they can directly deposit in IDR currency and activate a fixed conversion rate of 10,000 IDR to 1 USD.

The FBS spread starts from 0 pips with top trading platforms MT4 and MT5 both available. Trading conditions also remain broadly the same for islamic accounts with FBS. This means no additional mark-ups or higher spreads. There is however an administration fee if you keep a position open for more than 2 days.

FBS is well regulated by both cysec and the IFSC outside europe and both EUR and USD are available as base currencies.

4. Etoro

Etoro is the broker many consider best when it comes to social trading. They also offer options for islamic traders in the form of their standard account which can be converted into a swap-free account.

When it comes to an etoro minimum deposit, this is typically set at $200 although if you are operating an islamic account, your minimum deposit will be $1,000. Spreads also start from as low as 1 pip although they may be higher on most occasions.

Etoro is a worldwide name and top broker for many reasons, one of which is their very accessible and easy to operate proprietary trading platform. This can be really beneficial if you are just starting out in the social trading industry.

The islamic account trading conditions you will find, typically match all of those that apply to non-islamic accounts when it comes to mark-ups, commissions, fees, and spreads.

5. Octafx

Octafx is the next top broker featured who is also renowned as having one of the best swap-free trading environments in the industry. So much so in fact that they have collected awards for being the “best forex islamic account” from an industry website in 2015.

There are 3 swap-free accounts to choose from. These include the micro trading account through MT4 trading platform, the ECN account available through the ctrader platform, and the pro account through the MT5 platform. Options for you no matter which trading platform you prefer.

Spreads at octafx start from 0 pips on all platforms and the minimum deposit stands at $100 or $500 for a pro account. You will be glad to know that fees, spreads, and trading conditions also remain the same for islamic accounts.

6. Pepperstone

Pepperstone is yet another award-winning broker to make our listing. They have recently won the best ECN broker award at the global forex awards of 2019. They also offer a strong selection for you as an islamic trader.

There are 2 swap-free accounts available that would be suitable for islamic traders. These are the standard and ECN razor account types that can be opened with a pepperstone minimum deposit of $200.

Spreads on these forex trading accounts start from 0 pips with the best in trading platforms available like MT4, MT5, and ctrader. You will also be glad to know that the trading conditions with pepperstone all remain the same for islamic trading as they do for forex trading. There are no additional mark-ups, spreads, or commissions. The broker does, however, apply an admin fee for positions left open for more than 10 days.

Pepperstone is well-regulated by both ASIC and the FCA in the UK with EUR, USD, GBP and more currencies available as your base currency.

7. IC markets

IC markets offers 2 swap-free account options if you need to engage in islamic trading. These accounts should provide for everything you need as an islamic forex trader. Both the standard and raw spread accounts are available as islamic accounts.

IC markets spreads start from as low as 0 pips and trading is available on all major platforms such as MT4, MT5, and ctrader. Aside from the fees that exist from IC markets if you hold your position open for longer than one day, the other aspects of trading conditions are the same throughout for islamic accounts.

The broker is transparently regulated by two of the foremost authorities in the industry through both cysec and ASIC regulatory bodies. The broker also makes several base currencies available such as EUR, USD, GBP, SGD, and more.

8. FXTM

FXTM is yet another of the nest brokers for islamic traders. They are a multi-award winning broker having been voted the best broker for nigerian traders in both 2017 and 2018. They provide a total of 6 accounts which includes 3 types of ECN account, a mini trading opportunity through the cent account, and a shares account available for islamic trading.

The broker minimum deposit starts from just $10 with spreads from 0 pips and access to the well-known MT4 trading platform throughout.

You will be pleased to know that as an islamic trader, the trading conditions remain the same as that of a regular forex trader. This means no mark-ups, no increases in the spread, and no higher commissions. There is just one admin fee that FXTM can apply which varies depending on the asset traded and is typically applied after 2 or 7 days of holding a position.

9. Vantage FX

Vantage FX offers 2 swap free-accounts through either their standard or raw ECN account types to those wishing to open an islamic account. Deposits on these account types start from $200 for a standard account and a $500 minimum deposit for islamic trading through a vantage FX ECN account.

Spreads on these accounts are competitive for forex traders and start from 0 pips with trading available through MT4, MT5, and webtrader.

There is an admin fee attached to every position that you open, but apart from this, there is no difference in trading conditions when it comes to spreads, mark-ups, and commissions on the islamic accounts compared with that of another forex trader.

10. HYCM

When it comes to islamic trading, HYCM also offers a variety of choice. This includes 4 account types to select from including the fixed spread, raw spread, standard, and VIP accounts that are all available as islamic trading accounts.

HYCM minimum deposits on these islamic account types start from $100 with a maximum of $200 minimum deposit active on the raw spreads account, and $10,000 to open a VIP account.

HYCM spreads on these accounts start from 0.2 pips with both MT5 and MT5 available for trading on. Aside from a flat $5 admin fee which is charged after 14 days, the trading conditions remain the same when considering mark-up, commissions, and spreads.

What is a swap-free account?

As a forex trader or other type of trader, you may indeed be wondering what swap-free trading actually is. This type of trading is used by those following shariah law as the law forbids riba, on the basis of usury, and due to this, the paying of interest is forbidden.

In forex trading, the swap, also known as the overnight fee is the interest the trader either pays or gains based on their asset when it is held during leveraged trading. This type of interest either paid inward or outward on a regular forex trading account would not be halal under shariah law and therefore, forex brokers often facilitate the opening of swap-free accounts.

Islamic law on different assets

The law of islamic trading is complex in terms of how they can be applied in each market for forex trading and because of this, we will take a look at each type of traded asset and how the law impacts each.

Forex: why are swap fees haram?

In forex trading, the “swap fee” is typically charged to you as a trader and acts as a form of tax you should pay, although occasionally depending on the asset, it can be earned by you. Either way, this kind of fee, which depends on the forex currency pair you may be holding, is not permitted in islamic law.

For this reason, these kinds of fees are not charged in islamic accounts, thus, they are swap-free.

Stocks: are dividends earned from shares halal?

Stock dividends under islamic trading and shariah law are considered halal. Why is this? Well, these gains are made directly from the growth of a company you have invested in and are somewhat quantifiable in nature, at least in theory. This separates them from interest which can be viewed as punitive in nature.

The complexity deepens though when we consider investing in companies such as alcohol brands, tobacco brands, and others. This kind of investing would be haram and so, you should be careful as a trader following islamic law, what you choose to invest in.

Etfs and stock indices: are they an halal investment?

Etfs and stocks are halal due to the fact that they both relate to investing in pools of companies. Therefore, any monies gained from this kind of investment can be viewed as coming from the growth of the company.

As mentioned above, there may be some haram companies included in these pools. To negate this, as a trader, you should simply calculate how much of the profit is as a result of these companies and donate that percentage of gain to a charity.

Bonds: are they actually haram?

The simple answer here is yes. Typically, bonds are considered haram as they are technically loans to be repaid over a period of time which is inclusive of interest. There are however, islamic trading compliant bonds. These islamic bonds are certified as being compliant with islamic laws.

Are demo accounts halal?

Since forex broker demo accounts are only dealing in virtual funds and not your real money, then they can all be considered as halal and compliant with any islamic trading laws.

Islamic account costs

Trading with an islamic account is typically free of charge. This is good news for any trader. With that said, some broker minimum deposits may be higher than usual in order to open an account, although not always.

Opening an islamic account is usually as easy as contacting the customer support team of any top forex broker. With some brokers, but not many, the trading costs could be higher to make up for the absence of swap fees. You should consult your individual broker on this. They may impose a fee that is not interest and is, therefore, compliant with islamic trading law. This admin fee is typically applied after a number of days holding an asset.

Another thing which could occur, although less frequently, is the raising of spreads or commissions for islamic trading accounts. There may also be some exotic currency pairs or less common trading markets that are unavailable when trading through an islamic account.

Islamic account

What is an islamic forex trading account?

An islamic forex account is a type of trading account designed to offer the clients who respect the quran and intend to follow the principles of islamic finance. This is important because the sharia law followed by muslims across the world prohibits the paying or receiving of interests.

Therefore, to serve forex traders across the world who follow islam, brokers tend to have a separate account where there is no question of interest rates what so ever. By using islamic forex trading account type, muslim traders get to trade overnight without interest rate commissions.

Regulated

Min deposit: $ 100

Max leverage: 500:1

Welcome account: yes

Regulated

Min deposit: $ 100

Max leverage: 1000:1

Bonus: yes

Regulated

Min deposit: $ 5

Max leverage: 888:1

Bonus: yes

Where exactly is the problem while trading forex?

The forex market can be traded in multiple ways. There are different kinds of traders , such as scalp traders, day traders, and swing traders. While trading, some forex traders tend to keep their positions open overnight. Either to increase the profit they are going to generate on that trade, or in hopes of reducing losses in the following day.

The problem here is for the traders who are willing to trade overnight will have to pay or receive the interest rate difference as these rates tend to change on a daily basis. A trader will be receiving the interest differential from their brokers if the rate of the currency they bought is higher than the currency they sold. Contrarily, they are required to pay the swap fee to their brokers if the scenario is vice-versa.

Regulated

Min deposit: $ 1

Max leverage: 3000:1

Bonus: yes

How islamic account helps?

Islamic accounts work exactly how the traditional account types work but with a minor difference. Majority of the features such as leverage, spread, minimum deposit, and order types, etc. Remain constant. The minor difference here is the swap-free feature that is present in every single islamic forex trading account. It is obvious that there is a large community of muslim traders who would want to trade overnight. To address this community and respect their beliefs, the majority of the forex brokers tend to offer islamic swap-free accounts.

Hence, traders who follow islam can register themselves in these islamic accounts and get to trader overnight without having to go against their beliefs. It is crucial to know that every forex broker who offers islamic swap-free account services would ask for documentation or any other type of proof that confirms you as a muslim.

Users of these accounts might have to pay slightly higher commissions to compensate for the absence of swap charges.

FBS account types, features and openings (2021)

If you are considering opening an FBS account of any type then this is the right place for you.

Well, that is because we have uncovered all of the FBS account types available to you and also provided some detailed information about the features and benefits of each type.

This should ultimately help you make the best choices when going through the FBS account opening process.

Along with our FBS review, this will help to keep you fully informed.

Let’s get started with a detailed look at all of the FBS account types and what they have to offer.

74-89% of retail CFD accounts lose money

FBS account types for cysec – european market

European market trading information

Within FBS EU, MT4 is the sole trading platform which is made available. Managed accounts like MAM and PAMM are also not made available to FBS european traders.

Overall, there is still a fantastic range of options for all european users to choose from when opening and FBS account.

Demo account

Your FBS demo account as a european user is available for a 90-day trial. After this period it does expire, but you are free to create another FBS demo account whenever you wish.

The FBS demo account is available for each account type available to FBS cysec traders. This means standard and micro demo accounts are available.

Cent account

The FBS cent account is available to cysec users and great for those who wish to trade with smaller amounts but still experience the great features of an FBS live account.

On this account you can trade with cents (and sense). That makes for smaller volumes of trading and ultimately lower risks. With that said, an FBS leverage of 1:30 is still available.

The minimum deposit for an FBS cent account is low at just €10, the account features a 1 pip floating spread and offers commission-free trading.

Standard account

An FBS standard account is the option which many EU-based traders usually opt for. You can open your FBS standard account with a €100 deposit.

Islamic account

Having an FBS islamic account is a very important feature for those who wish to follow shariah law. This is something which FBS does provide for.

The FBS islamic account is available to holders of both the FBS cent account, and standard account traders.

Through the FBS islamic account, exotic forex pairs along with cfds are unavailable, although every other FBS account feature and market function is available through the account.

FBS account types for IFSC – international market

Moving to the types of FBS accounts which are available to international users, there are a few more. These are still very well regulated by the IFSC for your protection as a trader.

International market trading information

Firstly, quite a few more account types markets are available through the FBS international account. These include a total of 35 currency pairs alongside 4 metals, 3 cfds, and 4 cryptocurrencies.

A VPS (virtual private server) is also available for use if needed where you meet the FBS requirements.

Demo account

Cent account

Trading through this account is done using the STP method, and it is a great way to get started in learning to trade with FBS.

Standard account

The FBS standard account which is made available to international traders features a $100 minimum deposit. This account has spreads which are floating and start from 0.5 pips.

The STP processing method is also used here, and you can avail of commission-free trading as standard and an impressive maximum FBS leverage of up to 1:3000.

Micro account

This account also provides for a maximum FBS leverage of 1:3000, and commission-free trading with the STP processing method being used.

Zero account

The FBS zero account provides for a great fixed spread from 0 pips to the FBS traders who are based outside europe. This also comes along with extensive leverage of up to 1:3000.

The STP processing method is used to make sure of the best possible trade, and a commission of $20 per lot is charged. The FBS minimum deposit for opening a zero account is $500.

ECN account

An FBS ECN account is available. This requires a $1000 minimum deposit and holders can benefit from leverage of up to 1:500.

The FBS ECN account commission is $6 and the spreads start from -1 pips. This account type offers just forex currency pairs trading.

Islamic account

FBS secondary accounts

FBS secondary accounts are limited if you are a european trader based under cysec. The options here do not really extend beyond the standard and micro accounts mentioned.

FBS live account openings

Now that you have hopefully chosen your account type, let’s move to highlighting some of the finer points and features which you may wish to know about when operating an FBS account.

Account opening

Account verification

Account currency

FBS account currency is available as euro only for those based in europe. If you are utilizing the international FBS though you will also have the option of a USD base currency.

For those based in south africa, the ZAR is not available as an FBS base currency.

Minimum deposit

Account funding

As mentioned, you FBS account funding from europe can be completed in euro currency only.

If you are holding an international account, you can fund with any but this will be converted to USD or EUR and you may be charged a fee depending on your payment method.

Deposit

International account deposits are also usually fee-free. Sticpay and perfectmoney do charge a fee, although every FBS deposit method offered here can be instant in nature.

Withdrawal

Bonuses, promotions, contests and special services

These include a 100% deposit bonus. A no deposit bonus of $100 may also be available though this can only be withdrawn once you have met certain trading requirements.

The partner IB account program also allows for money to be earned through referring new users and there is a generous FBS loyalty program.

FBS account management

The final area to take a look at is some issues which may pop up as you are running your FBS account. These are things which you may wish to know more about how to deal with if they do come up.

Account expiring and reactivation

This area of FBS account expiration is something which differs slightly between europe and the international accounts.

On the international side, live accounts are disabled after 90-days of inactivity. No inactivity fee is imposed, and again if you wish to reactivate, you should simply contact FBS.

Invalid account error

Close account

In rare cases, you may wish to close your FBS account. To begin the FBS close account procedure on a europe-based account, simply contact FBS for assistance.

On your international account, it cannot be immediately deleted. The best way is to simply leave your account inactive for 90-days after which it will be disabled.

74-89% of retail CFD accounts lose money

Best swap free islamic forex brokers for halal trading

Top rated:

As a forex trader, there should be many options and account types open to you with the very best forex brokers. A key one of these account types is the islamic account.

As a broker trading with an islamic account, you will be doing so in compliance with shariah law. This means that all of your trading will be swap-free.

We have taken time to conduct the most in-depth broker reviews possible and have compiled this list of what we feel are the best swap free brokers for you to choose from.

Top 10 best swap free islamic forex brokers for halal trading

Below the 10 best names in the industry if you are of islamic faith, and you want to trade forex with an halal compliant broker.

The XM minimum deposit on these account types starts from a great value $5 and ranges up to $100 with the XM shares account being available only with a minimum of $10,000 deposit.

2. Avatrade

Avatrade is well-regulated by the highly respected cysec and ASIC so you can have complete trust in their operations. A number of base currencies are also made available.

3. FBS

FBS is well regulated by both cysec and the IFSC outside europe and both EUR and USD are available as base currencies.

4. Etoro

The islamic account trading conditions you will find, typically match all of those that apply to non-islamic accounts when it comes to mark-ups, commissions, fees, and spreads.

5. Octafx

6. Pepperstone

There are 2 swap-free accounts available that would be suitable for islamic traders. These are the standard and ECN razor account types that can be opened with a pepperstone minimum deposit of $200.

Pepperstone is well-regulated by both ASIC and the FCA in the UK with EUR, USD, GBP and more currencies available as your base currency.

7. IC markets

8. FXTM

The broker minimum deposit starts from just $10 with spreads from 0 pips and access to the well-known MT4 trading platform throughout.

9. Vantage FX

Spreads on these accounts are competitive for forex traders and start from 0 pips with trading available through MT4, MT5, and webtrader.

10. HYCM

HYCM minimum deposits on these islamic account types start from $100 with a maximum of $200 minimum deposit active on the raw spreads account, and $10,000 to open a VIP account.

What is a swap-free account?

Islamic law on different assets

Forex: why are swap fees haram?

For this reason, these kinds of fees are not charged in islamic accounts, thus, they are swap-free.

Stocks: are dividends earned from shares halal?

Etfs and stock indices: are they an halal investment?

Bonds: are they actually haram?

Are demo accounts halal?

Since forex broker demo accounts are only dealing in virtual funds and not your real money, then they can all be considered as halal and compliant with any islamic trading laws.

Islamic account costs

Islamic account forex brokers

Islamic finance is a specific method of financing and banking operations, which is based and sharply complies with the principles of the islamic or sharia laws, while guided by islamic economics. Since the online trading is the expanding investment solution for the last decades, there was a need to apply islamic laws to the trading industry as well, since by its nature it might be a forbidden type of investment. However, islamic economists created specialized rules according to believe which should be followed, while trading itself became permitted.

The islamic finance industry developed global standards to a unique account – islamic account that enables worldwide traders of the islamic religion to join international trading of global markets.

The primary principle in the islamic trading process regulation is to avoid any harmful activities, mainly investments interest, along to restrict high-risk transactions which prohibit margin and derivatives trading. That also means that the islamic broker account should not apply swap or rollover commissions, or interest on overnight positions. Every broker that offers an islamic account must ensure that all rules are followed while risks are minimized within the transactions and contracts. Recently, the increasing demand brings a wide range of offers throughout various brokerage companies, however islamic worlds and mainly the middle east still remains highly operated by the offshore and non-regulated companies. In this case, none of the specifications are able to protect trading accounts, thus it is a paramount priority to choose only among well-regulated brokers which provide safety by the regulatory international requirements.

FBS inc vs IC markets

If you're choosing between FBS inc and IC markets, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. We've also displayed one of our most popular brokers, pepperstone, as another alternative to consider.

What would you like to compare?

The BROKERDNA ™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

The BROKERDNA ™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

The BROKERDNA ™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

The BROKERDNA ™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

FBS inc is regulated by IFSC, CRFIN. FBS inc have provided forex, indices trading services since 2009.

IC markets is regulated by ASIC. IC markets have provided forex trading services since 2007.

Pepperstone is regulated by ASIC. Pepperstone have provided forex trading services since 2010.

TRADING SERVICES OFFERED

Losses can exceed deposits

Cfds and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading cfds.You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

PLATFORM & FEATURES

See the platforms and features offered by each broker

English, spanish, portuguese, arabic, chinese, japanese, indonesian, malaysian, thai, urdu, and vietnamese

English, japanese, chinese, polish, afrikans, danish, dutch, and german

English, spanish, polish, chinese, japanese, korean, vietnamese, and arabic

Losses can exceed deposits

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by FBS inc and IC markets

Losses can exceed deposits

TRADING CONDITIONS

RISK MANAGEMENT

FUNDING METHODS

Losses can exceed deposits

DETAILED INFO

Losses can exceed deposits

All information collected from https://fbs.Com/. Last updated on 01/02/2021.

All information collected from http://www.Icmarkets.Com/. Last updated on 01/02/2021.

All information collected from https://pepperstone.Com/. Last updated on 01/02/2021.

Since starting in 2009 FBS have amassed over 700,000 traders located all around the world in over 120 countries. FBS attribute their growth to listening to their traders and providing them with what they asked for including 100% regular contests, 24 hour customer support five days a week, deposits and withdrawals in any currency, low minimum deposits, no requotes and split second execution of trades. FBS have quickly become world leading broker you can trust.

IC markets is an online forex trading service provider who are regulated by the ASIC. To open an account with IC markets, minimum deposits start from $200.
With IC markets you can trade forex, indices, commodities and cfds. If you like to trade on the go, IC markets have iphone, ipad and android apps so you can trade from anywhere on your phone.
IC markets offer metatrader 4, metatrader 4 iphone, metatrader 4 android, metatrader 4 apple mac, ctrader, ctrader web, ctrader mobile, ctrader calgo, cmirror, metatrader 5, MAM/PAMM, myfxbook autotrade, FIX API, trading servers, zulutrade, signal trader, web trader platforms to make your trades and support 91 different languages.
They also offer traders a micro account for traders who want to start with smaller accounts. The spreads offered by IC markets for the most popular instruments are: 1 EUR/USD, 1 FTSE 100, 42 GOLD,1 GBP/USD, 1 DOW/JONES, 0.04 crude oil, see all the spreads here.
For more information about trading with IC markets, we have put together an indepth IC markets review with all the pros and cons about this broker.

Pepperstone provide a trading platform for retail and institutional investors looking for a broker that provides fast execution, reliable technology, award winning customer service all at superior competitive pricing.

Pepperstone was founded in 2010 to provide a solution to traders frustrated by slow trade execution, excessive spread and poor customer service from other online brokers. Pepperstone are a perfect choice for traders with spreads start from as low as 0 pips and combined with their use of leading technology platforms including metatrader 4 and ctrader.
For more information about trading with pepperstone, we have put together an indepth pepperstone review with all the pros and cons about this broker.

Popular comparisons feat. FBS inc

Popular comparisons feat. IC markets

Popular comparisons feat. Pepperstone

so, let's see, what was the most valuable thing of this article: discover all the type of accounts you can open with FBS, their characteristics and features, and how you can try them all. Learn now at fbs islamic account