Forex Trading In Islam (Permissible or Not) - Page 25
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Thread: Forex Trading In Islam (Permissible or Not)

  1. #241
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    As all the Muslims are discussing in this forum that we should open the swap free account and should avoid the rebates amount then we will be able to do this business, now I am doing forex with swap free account and avoiding the rebates, it is also added that we should know how to trade and should have proper knowledge about forex market, never do gambling which is prohibited in Islam.

  2. #242
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    Quote Originally Posted by Nova View Post
    As all the Muslims are discussing in this forum that we should open the swap free account and should avoid the rebates amount then we will be able to do this business, now I am doing forex with swap free account and avoiding the rebates, it is also added that we should know how to trade and should have proper knowledge about forex market, never do gambling which is prohibited in Islam.
    I'm here to help other people who still confused about this matter because I'm also a Muslim trader and know the rules that makes forex trading is allowed to do and not prohibited. The rules are simple for us to follow and it's not very strict at all because not getting the swap as our income won't affect our earning since our profits are always bigger than the swaps. Beside, it's been years we know that swap free account is available with RoboForex and it's so relief to know.

  3. #243
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    This business is known all over the world and Muslims also have the chance to trade forex and make profits from this market. I think Roboforex provides a swap free account for islams and that's good because it adds to the belief that they are dealing with a legitimate business. With swaps free account, there is no reason to expect charges if they keep a long term trade.

  4. #244
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    Quote Originally Posted by Tonycee View Post
    This business is known all over the world and Muslims also have the chance to trade forex and make profits from this market. I think Roboforex provides a swap free account for islams and that's good because it adds to the belief that they are dealing with a legitimate business. With swaps free account, there is no reason to expect charges if they keep a long term trade.
    it is already provided for years now and i have also tested and traded with swap free account with roboforex. it is good and honest service as there is no more swap both in negative or positive in my trading no matter how long i hold my trades. no more worries and i can trade in calm because i believe my result from my trading is not prohibited because it is halal.

  5. #245
    Swap free account is the same thing as Islamic account which makes it easier for Muslim traders to be involved in forex trading without any any breach of their religious beliefs . Based on the point mentioned above , forex trading is no longer "haram " as long as giving and taking of roll over interest is not involved . Though the swap free account could be opened by just anybody but I strongly believe it is originally designed for the Muslim traders who would not trade with the type of account that receives swap

  6. #246
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    Quote Originally Posted by layigold View Post
    Swap free account is the same thing as Islamic account which makes it easier for Muslim traders to be involved in forex trading without any any breach of their religious beliefs . Based on the point mentioned above , forex trading is no longer "haram " as long as giving and taking of roll over interest is not involved . Though the swap free account could be opened by just anybody but I strongly believe it is originally designed for the Muslim traders who would not trade with the type of account that receives swap
    Actually there's no pure Islamic account in most brokers because although swap free account has no swap when we hold the trades overnight, but there's comission charged on each lot size traded and for how many days we hold the trades which this actually similar to regular account. For Muslim traders like me and many other members here, I suggest to be a honest and wise traders not to accept the swap from our trading. And if the swap in positive, try not to withdraw it and keep it in account. Only spend the money which come from our own trading with no swaps involved.

  7. #247
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    Quote Originally Posted by Silhouette View Post
    Actually there's no pure Islamic account in most brokers because although swap free account has no swap when we hold the trades overnight, but there's comission charged on each lot size traded and for how many days we hold the trades which this actually similar to regular account. For Muslim traders like me and many other members here, I suggest to be a honest and wise traders not to accept the swap from our trading. And if the swap in positive, try not to withdraw it and keep it in account. Only spend the money which come from our own trading with no swaps involved.
    I also think that the main problem of forex in Islam is its interest or swap and now these days every broker is give traders swap free trading account which are help traders to do work on forex with Islamic rules. You are also right we must choose the swap free account because if we do work with swap then its definitely haram in Islam.

  8. #248
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    Quote Originally Posted by jassim View Post
    I also think that the main problem of forex in Islam is its interest or swap and now these days every broker is give traders swap free trading account which are help traders to do work on forex with Islamic rules. You are also right we must choose the swap free account because if we do work with swap then its definitely haram in Islam.
    Like I explained before, sometime it's not even fair to work with swap free account because there's commission charged per each trade and each day we hold our trades. The real fact in trading that Muslim traders like me and many my friends here must accept this and trade in usual way with standard account with swap. To prevent getting a plus swap we can read the detail of which pairs that has negative swaps then we can trade them.

  9. #249
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    Quote Originally Posted by Silhouette View Post
    Like I explained before, sometime it's not even fair to work with swap free account because there's commission charged per each trade and each day we hold our trades. The real fact in trading that Muslim traders like me and many my friends here must accept this and trade in usual way with standard account with swap. To prevent getting a plus swap we can read the detail of which pairs that has negative swaps then we can trade them.
    yes this is good idea also but i think swap comes with sell orders? or in profitable positions? but i have just one solution whenever i get some swap i open and close position and lose that some cents swap for my satisfaction, in other side swap free account is good because we pay commission and never get in plus i think

  10. #250
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    Quote Originally Posted by naeem555 View Post
    yes this is good idea also but i think swap comes with sell orders? or in profitable positions? but i have just one solution whenever i get some swap i open and close position and lose that some cents swap for my satisfaction, in other side swap free account is good because we pay commission and never get in plus i think
    This is a bit pros and cons when I choose to trade with swap free account or for standard account. I know the amount of swap is very small but then any positive earning even a penny still not allowed in Islam and I really strict my own trading to get any of this. The best solution remains to trade with swap free account and pay the commissions but then for other Muslim traders who got different opinion which is best to do, then I will take it into consideration.

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