Is Currency Trading Halal or Haram?
- Thread starter Salem9022
- Start date
thariq2005
Praise be to Allah!
As salamu alaikkum wa rahmathullah...
Read this fatwa up, inshallah it must help. Looks like it is permissible according to it, my older brother asked this question as well
http://www.islamqa.com/en/ref/106094/forex
Fee Amaan Allah
Read this fatwa up, inshallah it must help. Looks like it is permissible according to it, my older brother asked this question as well
http://www.islamqa.com/en/ref/106094/forex
Fee Amaan Allah
As salamu alaikkum wa rahmathullah...
Read this fatwa up, inshallah it must help. Looks like it is permissible according to it, my older brother asked this question as well
http://www.islamqa.com/en/ref/106094/forex
Fee Amaan Allah
It seems like it is permissible if it doesnt involve riba. But they charge you a fee for the trade which they call a "spread" its usually 1 pips to 4 pips in eur/usd. does your older brother still do forex?
shichemlydia
Junior Member
help
salam alikoum,
one day i asked the same question to someone who studied shariyah law, he told me, that is halal, according to a hadeeth of prophet mohamed pbuoh when he said in the meaning of the hadeeth" when the types of the goods being exchanged differ, so you trade as you agree" (this is the meaning).
and allah swt knows the best.
wa salam alikoum
salam alikoum,
one day i asked the same question to someone who studied shariyah law, he told me, that is halal, according to a hadeeth of prophet mohamed pbuoh when he said in the meaning of the hadeeth" when the types of the goods being exchanged differ, so you trade as you agree" (this is the meaning).
and allah swt knows the best.
wa salam alikoum
islamic forex
How about Islamic forex is hala or not like TADAWUL FX's and other say they have Islamic forex account with no riba.
I am new to forex and pleas any tips for where to learn good strategies if those Islamic forex companies are hala, or not first of all we need to make sure it’s hala and true company.
How about Islamic forex is hala or not like TADAWUL FX's and other say they have Islamic forex account with no riba.
I am new to forex and pleas any tips for where to learn good strategies if those Islamic forex companies are hala, or not first of all we need to make sure it’s hala and true company.
I don't know about Islamic Forex but I do know about Tadawul, there are Big rooms for trading in Saudi Sections on Paltalk where everyone of them take the same trade looool, also whats the difference between Islamic Forex and Regular Forex? The regular Forex doesn't have riba, we have to only cover the cost of the spread which is the fee to trade, I haven't come across any riba. The ruling from www.islam-qa.com says its Halal if it doesn't involve riba and Forex doesn't involve any sort of riba to begin with.
you can use this site to help you out in your strategy http://mds.tradingcentral.com/index.asp?p=devises It shows which currency pair is going up or down for 1-week or 1-month time frame, if you want the actual ticker chart and graphs then download a demo called ForexTrader
Islamic Forex
sallam alukom
Brother Salem9022 thanks a lot for the info and also your review about TADAWUL FX's.
Also I found some companies in USA and Canada for FOREX they claming they have accounts for Muslims sharia complains no Riba and because I am new to this still gathering information they tolled me they have interest-free account and only they charge fees in each month and also they tolled me they can give leverage money to trade with also no Riba, is this hala or I have to use my money only no leverage.
sallam alukom
Brother Salem9022 thanks a lot for the info and also your review about TADAWUL FX's.
Also I found some companies in USA and Canada for FOREX they claming they have accounts for Muslims sharia complains no Riba and because I am new to this still gathering information they tolled me they have interest-free account and only they charge fees in each month and also they tolled me they can give leverage money to trade with also no Riba, is this hala or I have to use my money only no leverage.
johntrader00
New Member
salam,
I am conducting a academic research on forex traders with focus on islamic forex trading. Therefore your help is needed. I would very much appreciated if you participate in this mini survey of 20 questions. It will take less than 5 min of your precious time.
Please copy paste the linkit is not spam=)
FreeOnlineSurveys.com/rendersurvey.asp?sid=ryviidwr2zffk9h654255
Thanks in advance.
John
I am conducting a academic research on forex traders with focus on islamic forex trading. Therefore your help is needed. I would very much appreciated if you participate in this mini survey of 20 questions. It will take less than 5 min of your precious time.
Please copy paste the link
it is not spam=)FreeOnlineSurveys.com/rendersurvey.asp?sid=ryviidwr2zffk9h654255
Thanks in advance.
John
ahmed_indian
to Allah we belong
it should be hand-to-hand. as its not the case in online forex, i tihnk its not allowed.
Allah knows best.
Allah knows best.
Assalamu Alaykum,
I felt compelled to reply to this old thread in the hopes of saving myself and anyone else to the path for the Hellfire. With Allah's guidance may He save us all. Ameen.
When I first read about FOREX trading I was eager to learn more as it seems a great way to make extra income. There are clear matters witch are permissible and others which are not. The PBUH said it is better to say away from doubtful things. FOREX seems to be one of those things. But to clarify a little the trading need to be hand-to-hand: meaning it must be done at the same time. Internet/online trading is not this. The delay in trading defines itself as riba. For example if I had five dates of high quality and I met a person who was willing to give me 10 dates of a lower quality. On the Internet this transaction could not happen. Alternatively, it may take me days to get the other dates and that same time period my dates may get rotten and decrease in quality.
Wassalam
I felt compelled to reply to this old thread in the hopes of saving myself and anyone else to the path for the Hellfire. With Allah's guidance may He save us all. Ameen.
When I first read about FOREX trading I was eager to learn more as it seems a great way to make extra income. There are clear matters witch are permissible and others which are not. The PBUH said it is better to say away from doubtful things. FOREX seems to be one of those things. But to clarify a little the trading need to be hand-to-hand: meaning it must be done at the same time. Internet/online trading is not this. The delay in trading defines itself as riba. For example if I had five dates of high quality and I met a person who was willing to give me 10 dates of a lower quality. On the Internet this transaction could not happen. Alternatively, it may take me days to get the other dates and that same time period my dates may get rotten and decrease in quality.
Wassalam
Vindictoaso
New Member
Good afternoon. If you are thinking about making money on Forex, I can say that for this purpose it is better to turn to a professional who really understands this area. I read a lot about trading and I've been studying it for a long time. I trade only base currency so I don't have too much stress and don't have to trade many assets at once. It's much more convenient for beginners. So you can try exactly the same way of trading. I will send you my best wishes for success.