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SIBL

Regulated
Indonesia
,
Since 1991
Last Updated:
21/100
Overall Score

Trading Conditions

Min Deposit:
N/A
Max Leverage:
N/A
Account Types
Cash (invest)Cash (invest)Cash (invest)+5 more

User Reviews

—
Total Reviews
—
This Month
—
Avg Rating

Funding Methods

8 methods

Bank Transfer

wire transfer
3 days
Fee:
Free
Fee:
Free

Debit Cards

debit card
Instant
Fee:
Free
Fee:
Free

Online Banking Transfers

bank transfer
Instant
Fee:
Free
Fee:
Free

Mobile Banking Transfers

bank transfer
Instant
Fee:
Free
Fee:
Free

Cheque Deposits

other
2 days
Fee:
Free
Fee:
Free

Cash Deposits

other
Instant
Fee:
Free
Fee:
Free

Mobile Wallet Transfers

e wallet
Instant
Fee:
Free
Fee:
Free

Prepaid Cards

debit card
Instant
Fee:
Free
Fee:
Free

Performance Metrics

Excellent Performance
Performance chart: 1: Regulation 17%, 2: License 37%, 3: Software 0%, 4: Spread 0%, 5: Account Type 9%, 6: Symbol 0%
Regulation
17%Poor
License
37%Poor
Software
0%Poor
Spread
0%Poor
Account Type
9%Poor
Symbol
0%Poor

Company Information

Full Name:Social Islami Bank Limited
Founded:1991
Headquarters:Indonesia
Enterprise Offices:1offices

Customer Support

Phone:
+880 9612001122
Live Chat:
business_hours
Response Time:
—
Languages:
English
Scroll Down
Editorial review
Updated

Broker Summary

What Wikilix has recorded about SIBL: its history, the licences it holds, its trading conditions and its fees.

Introduction and Overview

SIBL is a trading brokerage firm and financial services provider striving to bring together a platform where individuals and institutional investors could actively participate in a range of financial markets. With rather limited information on SIBL, this review aims to give insight into the broker using whatever information could be gathered and to discuss elements important to traders when considering a brokerage firm.

It is easy to understand the offers, regulatory status, trading conditions, and general user experience attributed to SIBL to make informed decisions as clients.

Background and History

Little information is provided on the history and background of SIBL. As there is no record or any declaration by the organization, it's difficult to track the origination date, founding members, or any major developments. This isn't particularly uncommon for the financial services industry, even for younger or less well-known brokers.

But even so, with SIBL in the trading broker space, an operational framework would provide Market access to traders. Further notice and disclosing is highly expected from the company for the future development and strategic vision.

Key Features & Offerings

Whereas the particular details of the products offered by SIBL are not found on highly trailed paths, this category of broker normally provides access to various market instruments: forex, commodities, indices, and possibly even cryptocurrencies. SIBL probably provides a trading platform to execute any of the above-mentioned markets for clients to trade on, analyze, and manage their portfolio.

In addition to these tools, most brokers offer other services to make trading more rewarding, such as learning resources, customer support, and account management tools. Due to the lack of available data, at this point the features and services that would be available with SIBL are undetermined.

Licensing and Compliance Issues

The main reason why one would be looking for a broker is regulation, whereby it will assure financial standards and protection for clients. Unfortunately, very little information about the SIBL regulated licenses is known. In any case, this broker doesn't have an evident regulatory status, so potential clients should be careful and may seek double verification.

Table 1 below summarizes the current status known about SIBL regulatory compliance.

Regulator

License Number

Status

N/A

Not Available

Limited available information

Trading Conditions and Platform Technology

The conditions of trading, like spreads, leverage, and requirements of the minimum deposit, are necessary to determine whether a broker fits the trading style. It is regrettable that details on the trading conditions of SIBL are not available to the general public. While it is expected that a broker offers competitive spreads and choices of leverage to fit various trader profiles, these remain unconfirmed with SIBL at the moment.

On the platform technology, most brokers offer either a proprietary or third-party platform, such as MetaTrader 4 or 5, which has advanced charting and order execution capabilities. Just which of these platform(s) SIBL supports is not specified.

Below is a summary table reflecting the scarce data available on SIBL's trading conditions:

Deal Condition

Details

Spreads

Limited information available

Leverage

Limited information available

Minimum Deposit

Limited information is available

Trading Platform

Information scarce

Fee Structure

It is very important for traders to understand the fee structure, so that they can work on cost management. Fees will include commissions, spreads, deposit and withdrawal charges, inactivity fees, and more. In the case of SIBL, complete detailed information about fees is not provided publicly, and hence a certain description cannot be derived.

The fees are illustrative and may not reflect the actual fee applicable at the time of opening any account with SIBL. Potential clients are advised to directly ask for the prevailing and accurate fee schedules from SIBL.

Fee Type

Information

Fees for Deposits

Information is scarce

Withdrawal Fees

Limited information is available.

Commission

Limited information available

Conclusion

SIBL positions itself as a trading broker in financial services, but scarce publicly available information does not allow deep analysis of its services, regulatory position, and trading conditions. Perspective customers should be very cautious and contact SIBL directly for detailed information before starting to trade. As with any financial service provider, due diligence, verification of regulatory compliance, and understanding of fee structures are essential to assure a safe and productive trading experience.

Regulation check

Regulatory Licenses

Every licence SIBL has in force is from an offshore regulator. Most carry no compensation scheme — each licence's record says what the issuing regulator actually requires.

0 of 1 checked
Licences on record
1
Confirmed on register
0
Tier 1 or 2
0
Offshore
1

WIKILIX

Licence intelligence

The only licence on file

Licence Verification Record

Financial Services Commission No number recorded

Recorded from the firm's own disclosure. Not yet checked against the register.

Jurisdiction
BangladeshOffshore
Authority strength
Tier 3
Licence type
Financial Service
Not yet checked on the register

Client protection under this licence

  • No compensation scheme
  • Complaints routeFSC Complaints
  • Maximum leverage1:1000

These are the rules FSC sets for the firms it licenses. They are not a statement about how SIBL applies them, or about which of its companies would hold your account.

A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.

Trading accounts
Updated

Account Types

8 account types on record. Minimum deposit from BDT 10,000. Leverage up to 1:1.

8 account types
AccountMin DepositLeverageCommission
Cash (invest)InvestBDT 100,0001:1Not specified
Cash (invest)InvestNot recorded1:1Not specified
Cash (invest)InvestNot recorded1:1Not specified
Cash (invest)InvestNot recorded1:1Not specified
Cash (invest)InvestNot recorded1:1Not specified
Cash (invest)InvestNot recorded1:1Not specified
Cash (invest)InvestNot recorded1:1Not specified
Cash (invest)InvestBDT 10,0001:1Not specified
Account names and conditions as published by SIBL, recorded by Wikilix.
Deposits & withdrawals

Funding Methods

10 ways to fund an account. 6 credit instantly.

10 methods
MethodDeposit feeWithdrawal feeMin depositWithdrawal min / maxProcessing
Bank TransferWire Transfer
For international transfers, ensure SWIFT codes are accurate to avoid delays.
Not recordedNot recordedNot recordedNot recordedNot recorded3 days
Debit CardsDebit Card
Available for domestic and international use, subject to card activation and regional restrictions.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Online Banking TransfersBank TransferEnsure online banking credentials are secure and authorized.Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Mobile Banking TransfersBank TransferEnsure mobile banking app is updated to latest version.Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Cheque DepositsOtherEnsure cheque details are accurately filled to avoid delays.Not recordedNot recordedNot recordedNot recordedNot recorded2 days
Cash DepositsOther
Deposits must be made during banking hours for same-day processing.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Mobile Wallet TransfersE-Wallet
Mobile wallet account must be linked to SIBL account for seamless transfers.
Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Prepaid CardsDebit CardPrepaid card must be activated before use.Not recordedNot recordedNot recordedNot recordedNot recordedInstant
Foreign Currency AccountsBank TransferCompliance with foreign exchange regulations required.Not recordedNot recordedNot recordedNot recordedNot recorded2 days
Demand Drafts and Pay OrdersOtherNot recordedNot recordedNot recordedNot recordedNot recorded2 days
Fees, limits and processing times as published by SIBL, recorded by Wikilix.
Social channels

Social Presence

5 official channels on record.

5 channels
Channels as published by the broker, recorded by Wikilix.
Legal entities

Corporate Network

One legal entity behind the SIBL brand.

1 entity
  • SOCIAL ISLAMI BANK LIMITEDActiveBangladeshRegistration C-28763Established Mar 4, 2019
Entities named in the broker's own documents and company registers, recorded by Wikilix.
Frequently Asked Questions

Frequently Asked Questions

Common questions about SIBL

Most Popular Questions
Social Islami Bank Limited is authorized to offer trading in regulated financial instruments including Forex, funds, and derivatives.
Social Islami Bank Limited offers customer support via phone, email, and live chat during business hours. Support is available in English, and the broker maintains active social media channels including Facebook, Twitter, LinkedIn, Instagram, and YouTube.
Social Islami Bank Limited does not charge commissions on trades.
Social Islami Bank Limited supports various funding methods including bank transfers, debit cards, online and mobile banking transfers, cheque deposits, cash deposits, mobile wallet transfers, prepaid cards, foreign currency accounts, and demand drafts. Processing times vary from instant to a few days depending on the method.
Social Islami Bank Limited is regulated by the Financial Services Commission (FSC) of Belize, which is a government-regulated authority. The broker holds a Financial Service license and operates under medium transparency standards. However, client fund insurance is not provided.
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