Forex Trading In Islam (Permissible or Not) - Page 27
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Thread: Forex Trading In Islam (Permissible or Not)

  1. #261
    Trader Sascha's Avatar
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    Quote Originally Posted by juniorpeters View Post
    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.
    no it's not true at all because forex trading remains allowed for muslim traders as long as they trade by following specific terms and rules first. one biggest issue that makes forex trading is prohibited is swap and those who can stay away from swap then forex trading is allowed for them. one more thing to know is about the method of trading. it's only allowed when traders use their analysis to make money, not by making random speculation because it's considered as gamble which gamble is prohibited for muslim traders.

  2. #262
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    Sascha, yes i was saying same here we have loss and profit both so there should not any any issue, actually people make any type of sport or business as gambling like they start to make bets on cricket? here also binary is type of gambling so we make it wrong otherwise simple fx is best and good for earning if we take it like business

  3. #263
    Quote Originally Posted by naeem555 View Post
    yes i was saying same here we have loss and profit both so there should not any any issue, actually people make any type of sport or business as gambling like they start to make bets on cricket? here also binary is type of gambling so we make it wrong otherwise simple fx is best and good for earning if we take it like business
    If it's betting we're doing here then we're breaking the laws according to this business and for me it's breaking the rules of my religion. As long as we're doing this business completely with proper analysis and trade based on it, we're doing fine and stick to the rules. This matter isn't really important for traders who's non Muslim as they can do anything they want with market by any means they think it's necessary.
    rules made to be followed, not to be broken

  4. #264
    Islam does not forbid forex trading more so if you open a swap free account which is known and called Islamic account in so many places. It will interest you that we have so many Muslim brothers and sisters here in this forum who at the same time are very active with forex trading.I think what Islam frowns at is taking and giving of interest

  5. #265
    Quote Originally Posted by layigold View Post
    Islam does not forbid forex trading more so if you open a swap free account which is known and called Islamic account in so many places. It will interest you that we have so many Muslim brothers and sisters here in this forum who at the same time are very active with forex trading.I think what Islam frowns at is taking and giving of interest
    yes i also think if we open swap free account we can trade according to islam but there is still leverage system which can be bad? so from my opinion we should trade like business when we trade with every big lots without learning then this can be gambling. and in gamble way we can lose. so we should use some good experience it will be good for us

  6. #266
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    Roboforex provides this facility to Muslim traders that they can open swap free account and do trade in the market without any restrictions. But 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 and I believe with the passage of time, forex credibility will be clear and I will do this business without complication.

  7. #267
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    Azeem, yes its providing us to swap free account and this is good for muslims but the real question comes here trading and gambling, when we do not learn trade when we depend on luck and trade that is called gambling so that is way to lose just, we can not survive here if we trade with gamble just, so make sure you trade on experience and that is business when we move without experience that is gambling and prohibited

  8. #268
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    Quote Originally Posted by naeem555 View Post
    Azeem, yes its providing us to swap free account and this is good for muslims but the real question comes here trading and gambling, when we do not learn trade when we depend on luck and trade that is called gambling so that is way to lose just, we can not survive here if we trade with gamble just, so make sure you trade on experience and that is business when we move without experience that is gambling and prohibited
    Most of the people are trading on behalf of luck, they don't have any forex knowledge and I would like to advice all the Muslims that trading on behalf of luck is gambling which is prohibited in the Islam. We should trade after having good knowledge and experience then forex will be permissible in Islam with swap free account, never trade without getting proper knowledge and experience in order to get the fruitful results.

  9. #269
    Quote Originally Posted by Azeem View Post
    Most of the people are trading on behalf of luck, they don't have any forex knowledge and I would like to advice all the Muslims that trading on behalf of luck is gambling which is prohibited in the Islam. We should trade after having good knowledge and experience then forex will be permissible in Islam with swap free account, never trade without getting proper knowledge and experience in order to get the fruitful results.
    i don't want to say this right and mostly this is wrong because there are lots of traders in the world who's trading with their analysis and got years of experience in the field. luck is only applied by beginners or gamblers who pretend themselves to be a forex trader and this is what prohibited to do according to Islam. that's why most Muslim traders who knows about this they prefer to trade in swing to long term trading without making any speculation to market.

  10. #270
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    Yayami, luck is simple and if we work on luck we do gambling but at same time we cannot ignore luck also, sometime we can earn by luck and some time we can lose by luck, so make sure you accept luck but not depend on luck when you depend on luck you can do gambling and can lose big, so make sure you trade properly with some plans without analysis do not enter into market

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