FBS Islamic Account checklist

Swap-free accounts are not offered by every broker entity, and where they exist, eligibility rules differ. Some brokers restrict them to residents of certain countries, some require a declaration of religious grounds, and some apply the status only to specific account types. Do not assume a feature mentioned in general marketing applies to the entity serving your country. Ask FBS support directly whether a swap-free option is available to you, which account types it applies to, and what documentation or declarations are required, and get the answer in writing.

Swap-free rarely means cost-free. Many brokers replace overnight swap charges with an administration or handling fee, wider spreads, or time limits after which fees begin on held positions. These replacement costs can be higher or lower than standard swaps depending on the instrument and holding period. Request the current fee schedule for the swap-free version of your intended account, compare it with the standard account's swap rates for the instruments you actually trade, and check whether any grace period applies before holding fees start.

Swap-free status often does not cover every instrument. Exotic currency pairs, certain commodities or index products may be excluded or carry different fees. Also review the terms for what happens if the broker believes the account is being used mainly to avoid swap costs, since agreements sometimes allow the broker to revoke swap-free status or apply charges retroactively. Finally, whether a given account structure meets your personal religious requirements is a judgment for you, ideally with guidance from a qualified scholar; a broker's label alone does not settle that question. To compare FBS with other reviewed brokers, use /tools/compare-brokers?brokers=fbs.