Is Forex Trading Haram or Halal in Islam ? - Forex Education

Is Forex (Currency Trading) Halal or Haram?

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Forex Trading is Haram: Malaysia National Fatwa Council

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Should I completely ignore stock market?

So I wanted to get into Forex but came to understand that it is haram.
Then I came to know about options trading and also came to know that it is haram.
Any other investing/trading methods out their that is halal for me to do? Methods such as swing trading or day trading come to mind, are they halal as long as I am not investing in shady companies that sell alcohol for example.
I know that long term investments is okay as well and that's another option. But I want something to do almost day to day so I am not sure of another other trading methods that are halal?
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The rough guide to the Islamic Investment world (in South Africa)

So this is my rough guide to Islamic investments within the South African Universe (it can apply globally, except my examples is all South African based). Hope it is informative and encourages halal investing.
Suggestions welcome
Section 1: Investment Universe 
  1. Islamic Bank fixed deposits
About: Invest your money for a fixed period (1 month up to 5 years). Get profit when period is completed
Pros: Reliable profit , Low financial risk, low Islamic risk : covered by a board of Shariah scholars
Cons: Low profit rates.

  1. Unit trusts
About: Collective investment - managed by investment company, protected by SA law, typically invests in equities, sukuks and property
Pros: Plenty of choice, Provided by registered Financial Service Providers, Sharia Boards , diversification
Cons: Typically High fees, .

  1. ETF
About: Collective investment
Pros: low fees, Provided by registered Financial Service Providers, Sharia Boards , diversification
Cons: only one option in SA, heavily weighted on Resources

  1. Shares
About: Pick your own stocks off the exchange
Pros: High profit potential,
Cons: Very Risky, No Islamic oversight (hence need to do your own screening)

  1. Property
About: Tried and test property
Pros: Stable Asset, Tangible, Straightforward, Zakah benefits,
Cons: High capital outlay, expensive legal costs (transfebond registration) , Not very liquid,
  1. Custom Wealth Solutions
About: Customized Wealth management and investments
Pros: Professional advice, custom solution
Cons: Available exclusively to high net worth individuals, Investment advise appears to be fee based

Section 2: Definitely not halal 
  1. Margin based investing: Margin = interest = haram. Also very risky
  2. Futures contracts: Shorting, going long, all CFD's and futures contracts are impermissible. Because a condition for a halal investment is that the underlying asset must be owned
  3. Forex: Or at least forex based on CFD's and margins. Buying dollars to travel should be perfectly fine.
  4. Stocks/Equities that primarily deal in haram activities: Gambling, pork, etc

Section 3: Grey Areas 
  1. Crypto ( Bitcoin ,etc) : In theory these should be more "halal" than fiat currency (what all money in the world is) however there are differences of opinion.
  2. Shares : There are grey areas : Most companies has an element of haram income (interest, etc). Scholars have devised ratios to to filter out "islamic stocks" from haram stocks (30-33% max debt, max 5% haram income, liquid ratios, etc). It is for this reason these stocks requires dividend purification.
However you should be aware of this before venturing into to stocks as you might not be comfortable with that thought (This also affects EFTs, Unit trusts, etc).
3 Easy Equities: Easy equities makes it cheap and easy to own equities. However I would at all times buy/sell only whole shares and not fractional shares. Fractional shares are done as a CFD (a bit different from a forex CFD). You get all the benefits of ownership such as dividends and capital gains on a pro rate basis. But you do not actually own the CFD until you buy enough CFD to get a real whole share. That being said, it is still grey, best to avoid fractional shares entirely
4. Halal Forex Accounts: Somehow these are marketed that way. Here's a link to (Islamic Finance Guru) who has a bit more knowledge on this. (Note: I am not affiliated in any way or get any benefit)
Section 4: Conclusion 
I sincerely hope this helps , and encourages to invest in the Islamic world.
Any ideas, inputs and suggestions welcome.


Disclaimer 1 : Corrections welcome, I am not a learned scholar, this is not financial advice, you bear the responsibility & consequences of your own decisions/investments
Disclaimer 2 : At some point FNB Sharia board quit , they subsequently hired a new board. They don't however make it easy to find who is in the board from their website. However the information can be found in news websites.
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Is this forbbiden or not?

Hey guys, I was thinking about getting into this forex trading thing but I’m muslim and I was thinking if forex is halal or haram? I heard of swap free islamic accounts but..is that it? Is that whole forex trading thing haram or halal? Thank you!
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Forex trading in Islam

I just want to ask if forex trading in Islam is halal or haram? Thank you for your time!
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IMF Strict Conditions- A Major Threat to the Country’s Economy

IMF Strict Conditions- A Major Threat to the Country’s Economy
Pak Revenue

The direction of the country’s economy needs to be corrected otherwise; the current economic condition may lead to great haram in the near future.
Chamber of Commerce and Industry (LCCI) Shahid Rasheed Butt said, “A 17% increase in revenue and enhanced forex reserves amid economic slowdown are surprising and indicate that country is not heading in the right direction.”
Despite the steady economic growth of the country, the revenue was still increasing due to the business community targeted to pay tax by the Federal Board of Revenue (FBR) officials.
Shahid Rasheed Butt informed that an ambitious revenue target set by the International Monetary Fund (IMF) couldn’t be met by the Federal Board of Revenue.
Due to the fragile economy, delayed refunds, and various other issues, exports in January recorded a reduction of 3.4% to $1.96 billion.
“Attracting foreign funds with high-interest rates can be repatriated any time that will unleash another crisis in Pakistan, therefore many economic exports are warning against this policy, Butt remarked.
President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain indicated the crucial need for revising the IMF conditions. The strict IMF terms should not be a major vulnerability to the economy of the country, he added.
Although IMF program has diminished current account deficit and reinforced forex reserves yet, it has affected the growth rate, business, employment, and production. The IMF reports to increase taxes are practically disturbing, Zahid Hussain shared.
He noted that the growth rate has already been fallen to 60% to get $ 6 billion which resulted in unemployment and increased liquidation.
Mian Zahid Hussain further said, “After the IMF deal, Rupee saw record erosion in its value but it hasn’t helped to improve the exports as expected while the public debt rose to unsustainable levels.”
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Question about Forex trading in the Islamic world

Hey everyone! Sorry If I am posting this in the wrong area but as a non-Muslim I am curious about Forex trading in the Islamic world.
What should a forex broker do to ensure that its activities comply with Shariah law, and what features should trader’s accounts have in this connection? Do Halal accounts give brokers any advantage over competitors?
I know there is a lot of discussion on this and how it is Haram or Halal and I just wanted to learn more about it.
submitted by Welcome_to_Russia216 to islam [link] [comments]

Question about forex trading in the Islamic world

Hey everyone! Sorry If I am posting this in the wrong area but as a non-Muslim I am curious about Forex trading in the Islamic world.
What should a forex broker do to ensure that its activities comply with Shariah law, and what features should trader’s accounts have in this connection? Do halal accounts give brokers any advantage over competitors?
I know there is a lot of discussion on this and how it is Haram or Halal and I just wanted to learn more about it.
submitted by Welcome_to_Russia216 to stocks [link] [comments]

Forex trading in the Islamic world

Hey everyone! Sorry If I am posting this in the wrong area but as a non-Muslim I am curious about Forex trading in the Islamic world.
What should a forex broker do to ensure that its activities comply with Shariah law, and what features should trader’s accounts have in this connection? Do halal accounts give brokers any advantage over competitors?
I know there is a lot of discussion on this and how it is Haram or Halal and I just wanted to learn more about it.
submitted by Welcome_to_Russia216 to Forex [link] [comments]

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Forex Haram Sebab Judi? - YouTube Forex trading in islam Halal or haramExplained - YouTube Forex Trading Halal Or Haram In Islam  Foreign Exchange Allow in Islam Tani Tutorial in Hindi Urdu Islamic Finance - FOREX Trading: Halal or Haram by Sheikh ... Is Forex Trading Halal or Haram fatwa stock market by Dr ... IS FOREX TRADING HALAL OR HARAM....!!! - YouTube

Forex-Handel - Halal oder Haram. Die islamische Gemeinschaft ist gespalten, ob es sich bei Halal oder Haram um Forex handelt. Geld verdienen und Währungen austauschen ist im Islam erlaubt, weil eine Person das Recht hat, ihre finanzielle Situation zu verbessern. Während einige der Meinung sind, dass der Devisenhandel, der sich an islamische Prinzipien hält, als Halal betrachtet werden kann ... If you believe forex trading is haram, you may decide not to trade it. After all, trading is really not for everyone. But if you believe forex trading is halal, please trade only on swap-free accounts, stay away from the carry trade and also ensure you do proper analysis before entering the market. About ; Latest Posts; Michael. Currency Strategist & CEO (Read more about me) Hi, I'm Michael ... Is online Forex trading halal or haram? If the riba (interest) element is removed, a convincing case can be made that online Forex trading is halal and not haram, especially if leverage is not used. Many Forex / CFD brokers offer Islamic trading accounts which do not charge or pay overnight interest on open positions. Is Forex trading legal in Pakistan? Yes, Forex trading is completely legal ... Final Thoughts on Forex Trading: Halal or Haram? I see no material differences between Forex trading for the purposes of speculating on price and gambling. I know what I’ve said may be hard to hear for someone who has already committed time, money and effort in the way of developing Forex trading knowledge and skills (to the extent that acquiring such skills is even possible). However, I ... Is Investing in Forex halal? AtoZ Markets – Each time I am giving a keynote speech in an Islamic country; the Middle East and Southeast Asia; I often get two mainstream questions “ Is Forex Halal or Haram in Islam? ” and since 2017 ” Is Bitcoin Halal or Haram? ” I struggled to answer these questions for a long time, so I decided to speak to people who can guide me. Islam and Google ads and Youtube ads. all information in this Forex Halal or Haram Fatwa tutorial in Urdu and Hindi by Tani Forex. For more information about Forex trading online business and Islam must watch below video tutorial or join us on You tube. 1000+ pips monthly free signals Why forex trading is Haram for non-Islamic accounts? Islamic law clearly prohibits gambling, and this causes some persons to wonder if the level of speculation that goes along with Forex trading is permissible for Muslims. However, the exchange that happens between the dealer and the broker would be hand to hand and that is allowed. However, swap in forex represents the interest that you ...

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Forex Haram Sebab Judi? - YouTube

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