Speculation with a selling and buying system in Islam refers to gambling. It is uncertain and makes a bad habit for you. It can be a bad addiction that killing you and your family. Because this activity is harmful to everyone, that is why it is unlawful to blogger.comted Reading Time: 5 mins The majority of Islamic jurists agrees that Forex trading can comply with Sharia only if it is spot trading (while futures and options are considered to earn Riba) and if it doesn't involve any overnight interest (or interest hidden by commissions, though Muslim traders should know that not all commissions are to hide overnight interest) The argument would therefore be, that as a retail trader you can only speculate using retail forex, with a margin account, and as fundamentally currency speculation is halal, trading on a margin account is halal as that is the only way available. However this is a flawed argument blogger.comted Reading Time: 9 mins
Is Forex Trading Haram or Halal in Islam ? - Forex Education
The topic of Forex trading prohibition in Islam is vast and controversial. Many points of view exist on different aspects of online Forex trading, including: spot trading, futures and options tradingmargin tradingovernight interestetc. The majority of Islamic jurists agrees that Forex trading can comply with Sharia only if it is spot trading while futures and options are considered to earn Riba and if it doesn't involve any overnight interest or interest hidden by commissions, speculation in forex islam, though Muslim traders should know speculation in forex islam not all commissions are to hide overnight interest.
One of the main point of debate lies in margin trading almost every transaction in Forex is based on margin and hedging it is compared to futures trading usually. Mohammed Obaidullah of Islamic Research and training institute located in Saudi Arabia discusses this topic in his article — Islamic Forex Trading. It is a well-grounded article covering every aspect of Forex trading and providing references to fundamental Islamic sources.
Among other things, Dr. Mohammed Obaidullah proves margin Forex trading to be legal for Muslimsas long as it speculation in forex islam involve any Riba unlike some other Islamic jurists who look at margin Forex trading as forbidden activity. In this article, Forex hedging is also analyzed and is seen as a source of Riba income. It speculation in forex islam strongly recommended to read this article if you consider yourself a Muslim trader or if you only plan to start trading Forex while remaining a lawful Islamic believer.
It is also recommended to look at the list of Forex brokers that offer Muslim-friendly trading accounts with no overnight-interest applied on the open positions. Islamic thought doesn't stand still and as Forex trading is a point of contention for scholars, and things change quickly in this field. For example, speculation in forex islam, In February 16,the National Fatwa Council of Malaysia speculation in forex islam supreme Islamic legal body announced that spot Forex trading performed by individual traders contrary to authorized dealers is considered haram sinful.
Technically, it restricts all Muslim residents of Malaysia from participating in online foreign exchange trading. It is important to add that no other Muslim fatwa institution in other countries has issued similar prohibition. On the contrary, the National Sharia Board of Indonesia had previous issued a fatwa the link is in Indonesian stating the legality of Forex, speculation in forex islam.
Apparently, the situation with Islamic Forex trading still remains quite unclear. And what do you think about legality of currency trading for Islamic believers? You can share your thoughts or ask your questions on our Forex forum.
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Speculative attack on a currency - Foreign exchange and trade - Macroeconomics - Khan Academy
, time: 7:49Islamic Forex - blogger.com
Speculation with a selling and buying system in Islam refers to gambling. It is uncertain and makes a bad habit for you. It can be a bad addiction that killing you and your family. Because this activity is harmful to everyone, that is why it is unlawful to blogger.comted Reading Time: 5 mins Fundamentally, trading in Forex (foreign exchange) in the online market is not allowed in Islam. It is often regarded as a controversial issue since Forex trading has something to do with price speculation which some scholars believe to be an indirect form of gambling. But like Islamic Loans, there are guidelines for this since it involves money The argument would therefore be, that as a retail trader you can only speculate using retail forex, with a margin account, and as fundamentally currency speculation is halal, trading on a margin account is halal as that is the only way available. However this is a flawed argument blogger.comted Reading Time: 9 mins
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