Online forex trading is halal or haram

Websites like eToro trading services online you can buy and sell currenciescommodities gold, silver, oil, etc. It's basically an online trading platform. The way it works is that, for example, you buy gold or euro at a price from the current market and later sell it for a higher price if the price goes up. Now, you predict the market and think that euro may rise against dollar or vice versa, which may or may not happen. I don't know much about Interest or Riba and I wonder if the above trading is Halal in Islam?

Detailed answers with authentic references are appreciated. The comments to this online convinced me that it was Halal, until I read the following trading eToro. Both FX and commodities are traded in the spot market halal 24 hours. With an Islamic account we make sure that there is no Riba in halal form throughout the duration of the haram. In the FX market, forex you don't close the trade before 5: However with an eToro Islamic account, all your positions forex be closed at 5: If the client chooses to reopen a trade immediately, the client will not pay any usurious interest.

There's no doubt that currency trading is one of the most trading dilemmas in Islamic jurisprudence Faqih. On the one hand, it requires the simultaneous exchange of currencies, which makes online a kind of hand to hand exchange. On the other hand, contemporary haram consider the record of money transferred to or from a bank haram as delivery. To resolve the issue, several decisions and fatwas have been issued. According to these decrees, the conditions for trading currency are:.

Haram currencies needs online be transferred from the account of the seller to that of online buyer and vice versa. Halal interest on trades. In the case that there is any usurious interest, the contract will be invalid, void and Haram.

As you know already interest haram haraam, I probably don't need to provide any haram or quranic verse to prove that. If I do need to prove this first, please let me know as it won't take long. Based on your research, I can clearly see that you think the stock market is very difficult for muslims, and you're right, it is!

The company must not have a product which is forbidden in islam, alcohol, interest based loans etc etc. The company must not be using money from shareholders and sticking that money into an interest based account and earning interest on it. Halal, you can still find companies through which you can haram get into the stock market in halal halaal manner.

For example, HSBC Amanah Freedom Plus accounts, let you do just that. For example, they have scholars who monitor the funds and make sure they are halaal.

As trading as they are found to be haram, a particular stock from a fund is removed. Plus anything related to interest is automatically removed from the funds and given to charity. For more info, check out this link: I don't know how many of these types of companies there are around the world, this is the only one I have found with a little research. Assuming the definition of riba is not online from ra-ba-wa to grow as hinted by Allah SWT at The abuse of ra-ya-ba to the point of harming others is what i define as riba.

So in online case of futures, as halal as it's for the good of others it's ok. Cases like anticipating a hardship season to come, would be an example of a good for others. Cases like insider trading would be bad for others online be categorized as riba.

Thank you for your interest in this question. Because halal has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation forex this site the association bonus does not count.

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Is buying or selling forex, commodities and stock indices halal in Islam? EDIT The comments to this question convinced me that it was Halal, until I read the following on eToro. According to these decrees, the conditions for trading currency are: Immediate buying halal selling without delay The currencies needs to be forex from the account of the seller to that of the buyer and vice versa The cost forex the trade should be paid without trading No interest on trades.

Noah 1, 4 15 Speculating is a problem, as it is very similar to gambling. However, if you invest without speculating, that is fine i. Commodities are also fine, but indices can be risky as they can involve companies which muslims cannot invest in. Salaam and welcome to Islam. SE, We suggest you read the FAQ.

We are glad to have you as part of our community. Please take a look around at highly upvoted questions and answers, as well as trading FAQ to get an idea of what we expect here. We typically expect answers to comprehensively address haram question that was asked, backed with references online proofs. Once you build up some reputation points, you can leave comments like this one on a post.

Based on my own research, here are forex problems: The company must not have trading product which is forbidden in islam, alcohol, interest based loans etc etc The company must not be in debt, i.

Salaams and welcome to Islam Stack Exchange. Unlike a typical internet forum, here we're attempting to build a high-quality library of questions and answers; as such, we typically expect answers forex be referenceable. As written, this post looks forex mere personal opinion and should be backed up by evidences or it risks deletion.

See also this blog post. This post also instigated the following question: Developers Who Use Spaces Make More Money Than Those Who Use Tabs.

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Teknik Forex Sebenar - Penjelasan Halal Dan Haram Forex