FBS is a forex and CFD broker founded in 2009. It is regulated by CySEC (Cyprus) and ASIC (Australia) and offers MetaTrader 4, MetaTrader 5 and its own FBS Trader app, with swap-free Islamic accounts available — relevant for Muslim traders across Indonesia and Malaysia. FBS holds international licences but is not locally licensed in most Asian markets. Trading carries high risk; verify the entity that serves your country before depositing.
Regulation & safety of funds
FBS operates through separately licensed entities authorised by CySEC (Cyprus) and ASIC (Australia). Both are real, searchable regulators, but the entity that actually serves you depends on your country of residence, not the FBS brand alone. In Indonesia, Malaysia and the Philippines, FBS is offshore-regulated rather than locally licensed — your protection comes from the foreign entity named on your agreement, not a domestic Asian regulator.
Because client-money segregation, compensation rights and complaint paths differ between regulators, the licence that matters is the one on your account agreement. Before depositing, find that legal entity and confirm it on the CySEC or ASIC register. In restricted markets such as India, no international FBS licence makes margin forex lawful for residents — the FEMA restriction is not overridden by a foreign licence.
Swap-free (Islamic) accounts
FBS offers a swap-free Islamic account that removes the overnight interest (swap) which is the core riba objection under Sharia. As with every broker, availability is not a halal audit: confirm how the swap-free account is granted for the entity that serves you (automatically, on request, or only on a specific account type), which instruments are covered, and — most importantly — whether any administration fee applies to positions held over several days. A genuine swap-free account should not reintroduce an interest-equivalent charge under another label.
Apply the holding-time test to the FBS Islamic-account terms: after the swap is removed, does any remaining fee grow the longer you hold a position? A flat charge can be acceptable; a fee that scales night after night is the interest in disguise. Read the entity-specific terms rather than the marketing page, and take the documented account agreement to your own scholar — the Sharia ruling is theirs to give, not ours.
Platforms: MT4, MT5 and FBS Trader
FBS supports MetaTrader 4, MetaTrader 5 and its own FBS Trader app. MT4 remains the long-standing forex standard, favoured by traders who rely on automated strategies and custom indicators; MT5 adds more timeframes, order types and asset classes; FBS Trader is the broker's own mobile-first interface for trading without the full MetaTrader environment. Test whichever fits how you trade on a demo account first, and choose on workflow rather than the longest feature list.
Pros & cons
Pros
- Regulated by CySEC and ASIC — verifiable on public registers.
- Swap-free Islamic accounts available.
- MT4, MT5 and the in-house FBS Trader app.
- Operating since 2009.
Cons
- Not locally licensed in most Asian markets — offshore protection only.
- No hands-on review yet, so we publish no spreads, minimums or ratings.
- Swap-free terms vary by entity — verify the administration-fee structure yourself.
Frequently asked questions
Is FBS regulated?
FBS holds licences with CySEC (Cyprus) and ASIC (Australia). Confirm the exact entity that serves your country on the relevant register before depositing. It is not locally licensed in most Asian markets, so your protection comes from the foreign entity named on your agreement.
Does FBS offer a swap-free Islamic account?
Yes — FBS offers a swap-free Islamic account that removes overnight interest (riba). That is availability, not a halal ruling: confirm the terms, covered instruments and any administration fee for the entity that serves you, apply the holding-time test, and take the account agreement to your own scholar before relying on it as Sharia-compliant.
Can I use FBS as an Indian resident?
No. Offshore, leveraged retail forex is not lawful for residents of India under FEMA and the RBI's remittance rules, and an international FBS licence does not change that. We never present FBS as a route for Indian residents; the only lawful path is SEBI-regulated currency derivatives on a domestic exchange.