Fatwa online forex trading

fatwa online forex trading

of trading Forex forwards, as there is always an interest element involved in these transactions. This implies that any kind of deal or contract which involves an element of interest (riba) is not permissible according to Islamic law. This is an extremely difficult question to answer and it may be one that should be discussed with your own religious leader rather than being decided base on an internet article. Having reduced the issue to one of trading spot Forex and assuming there is no interest element deemed to be involved, we move onto the next issue. Usury is of course completely prohibited in Islam, and is defined very widely. It would seem to be permissible only so long as it the exchange is hand to hand. Arguably, this in itself is just work from home jobs dickinson nd a camouflaged interest component, and if this view is taken, it makes Forex trading problematic according to Islamic law. So clearly, the Prophet Mohammed (peace be upon him) had in mind exchanges of different types of commodities that would be made between two parties, recognizing that this was a natural and just aspect of commerce. We understand what traders need and offer sophisticated trading tools, competitive spreads and exceptional execution quality on over 80 currency pairs.

A further widely recognized stipulation is that the actual exchange must take place during the same sitting in which the contract is made- in other words, trades must be concluded more or less immediately. What Islam Says on Online Forex Trading. Eventually, most Forex brokers responded to market forces (and pressure from Islamic traders) by becoming. However, this argument can certainly be criticized as spurious as related to market realities. For over a decade, m has been serving the needs of currency traders worldwide.

Fatwa mui tentang forex trading. Is Forex trading permitted in Islamic law? Islamic authorities approve currency exchange under specific circumstances.

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So I asked them for an account which does not have any relationship with Interest either in dealing with it or in consumption. We provide foreign exchange for the purpose of investor speculation. Once youve done your research thoroughly, you can decide whether Islamic Forex is right for you. However, regular spot Forex trading offered by Forex brokers, with no overnight interest payments or charges, could clear the hurdle of riba. In measuring these two competing elements, it can be said that it is the method of speculation that makes the difference. Ml @Currencies are usually purchased by the lot, where the lot represents 100,000 units of the base currency. Forex Trading - Halal or Haram Fatwa. Islamic Forex Brokers and offering Muslim Forex Accounts which operate without standard interest payments. Lets examine the issues one by one after looking at the saying on the subject by the Prophet Mohammed (peace be upon him Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, same. "Forex, or Foreign Exchange, is the simultaneous exchange of one countrys currency for that of another. One author has examined the subject and stated that speculation on the basis of fundamental analysis is permissible, but technical analysis is not, and an interesting reasoning is given: placing trades based on technical analysis is essentially tantamount to betting on the bets of others. Is such speculation permissible according to Islamic law?

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