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  • Islamic Sharia

    Is Online Forex Trading Halal?

    Posted by Coure 2011 on June 25, 2023 at 11:02 am

    AoA,

    I am interested in online forex trading and I want to know if it is halal according to Islamic principles. I have read some articles and fatwas on this topic, but I am still confused about some issues. Here are the two main issues that I have:

    1. In online forex trading, you never buy or sell anything physically. It is just based on the current market rate that profit or loss is calculated and applied to your account. Is this considered a valid exchange of value or a form of speculation?

    2. In online forex trading, you can sell currency without the actual ownership. For example, you created an account and deposited 100 EUR, now you can sell gold, dollar and other currencies. Is this allowed or is it a form of short selling?

    I would appreciate it if someone could clarify these issues for me and provide some references from the Quran and Sunnah or from reputable scholars.

    Thank you for your time and attention.

    Ahsan replied 1 year, 9 months ago 2 Members · 1 Reply
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