I was thinking of trading in Forex and I wanted to know if it’s okay with Islam.
My view: I think it’s like you buy a product, wait till its price increases and then resell it…..why would this be any wrong?
Please I need someone who understands the rules of Islam well
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March 3rd, 2010 at 9:38 am
In general I don’t think it is good investment theory or practice to consult with religious texts before making a trade, but good luck with that.
March 3rd, 2010 at 9:38 am
you can trade in forex,as no trading is banned,except accruing intersts and gambling,any futures trading is gambling according to sharia law
March 3rd, 2010 at 9:38 am
hi
it is not banned.you can trade.if you able to study the news up to date deeply then only you can success in trading but i know it is hard ! There is a way i found know as "automated trading".some highly qualified forex professionals from broker company trade your financial assets.it worked me well ..! all you just have to sit and watch!. I made good money.check this http://www.bestforextradingplatforms.com
March 3rd, 2010 at 9:38 am
no. forex trading in Islam is perfectly legal. in fact you may refer to this site. it will lead you to a legitimate, leading forex broker that offers trading accounts which adhere to the Islamic law (Sharia). with Islamic trading accounts, when traders extend their Day-Trading deals to the next day, no rolling fee is charged. accordingly, the maximum duration offered for Day-Trading deals is limited (usually 1 week but it can also be shorter or longer depending on the currency pair traded). once you open an account as a trader, you can get a detailed information from your personal Account Service Manager or your Personal Dealer on how Islamic trading accounts work. all the best.