Forex Trading In Islam (Permissible or Not) - Page 26
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Thread: Forex Trading In Islam (Permissible or Not)

  1. #251
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    Quote Originally Posted by Silhouette View Post
    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.
    yes we can do swap free and pay commission i think its best, or still if we have this then we can count all swap and can give to any poor person at end of month, but still swap free is best option i am doing trade on swap free account, and before this when i was trading if i got + swap i just open and close small position and lose money to lose swap balance into account, so everyone can have own mind and way of trading but this is not big issue

  2. #252
    As long as no interest-bearing trading account ( swap free account) is maintained, Islam does not forbid forex trading . In this forum alone , we have so many committed Muslim brothers and sisters who are trading Forex at retail level and this is so because there is an opportunity to open Islamic account which does not take or offer interest on the position taken into the new day

  3. #253
    As a Muslim I want to say that we can do trading. but, we cannot do swap trading. Muslim trader have need to choose web free accounts and pay commission to roboforex. Roboforex provide this facility to Muslim traders that they can open swap free account and do trade in the market without any restrictions. Because, I also saw a lot of traders who are doing trade but they are use swap free accounts.

  4. #254
    I want to believe that swap-free ( Islamic ) trading account has taken care of that because on that account , no interest is paid or received and you do not pay swap for holding position that encroaches into another day . I prefer this type of account being a long term trader because My experience in this regard has shown that the brokers do take higher swap than they give to the traders .

  5. #255
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    Quote Originally Posted by layigold View Post
    I want to believe that swap-free ( Islamic ) trading account has taken care of that because on that account , no interest is paid or received and you do not pay swap for holding position that encroaches into another day . I prefer this type of account being a long term trader because My experience in this regard has shown that the brokers do take higher swap than they give to the traders .
    yes this is also good if we do not pay any interest or we do not get also, its good because i think some people think its gambling so its not allow in islam, but in gambling we do not have this type of business, in gambling we have fix profit and loss, but here our profit and loss increases with pips, so its not fix, so i think there is nothing bad in this business

  6. #256
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    Quote Originally Posted by touqir View Post
    yes this is also good if we do not pay any interest or we do not get also, its good because i think some people think its gambling so its not allow in islam, but in gambling we do not have this type of business, in gambling we have fix profit and loss, but here our profit and loss increases with pips, so its not fix, so i think there is nothing bad in this business
    this isn't a big deal for other traders but for me and the rest of Muslim traders, this is important matter to make. life is as easy as this business, as long as we follow the rules everything is permissible to do including in Islam. the rules are clear for us not to take the positive swaps and use the money for living needs because it's prohibited. and trade with only analysis without gambling.

  7. #257
    Quote Originally Posted by Sascha View Post
    this isn't a big deal for other traders but for me and the rest of Muslim traders, this is important matter to make. life is as easy as this business, as long as we follow the rules everything is permissible to do including in Islam. the rules are clear for us not to take the positive swaps and use the money for living needs because it's prohibited. and trade with only analysis without gambling.
    you are right and in reality islam is not hard as we people make it hard, here we are trading we are losing and earning both, there is no fix profit actually if we have fix profit like binary then it can be form of gambling but in fx we have different situation so i also think its allowed by islam

  8. #258
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    There is an opportunity to open Islamic account which does not take or offer interest on the position taken into the new day, we have so many committed Muslim brothers and sisters who are trading forex, Its not clear that forex is halal or haram because some Mufti are said Its halal but some are also said its haram but interest is haram in Islam, so it is still not clear and I am also in complication.

  9. #259
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    Quote Originally Posted by Nova View Post
    There is an opportunity to open Islamic account which does not take or offer interest on the position taken into the new day, we have so many committed Muslim brothers and sisters who are trading forex, Its not clear that forex is halal or haram because some Mufti are said Its halal but some are also said its haram but interest is haram in Islam, so it is still not clear and I am also in complication.
    thanks to roboforex to provide such account with swap free account to Muslim traders here including me. it is really a good service and roboforex really care about us to provide such account type. dear friend, forex trading is considered halal or allowed to do as long as there is no interest in the way we earn the money. there are many positive preferences you can find in internet from famous Muslim scholars like Dr. Zakir Naik who said that forex trading is halal as long as we trade with analysis and no interests included.

  10. #260
    i heard that Forex trading in some Muslim countries is prohibited,i don't know how true that is but i think trading the market is not bad at all and should be accepted.most of the brokers i have used to trade the market doesn't allow Muslims to trade especially when they have a promotion going on,they restrict them to so many things whatever is their reason i don't know but it would be nice everyone take part in the market.

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