Is #FOREX Trading Halal or Haraam? 🤔 #shorts

Is FOREX Trading Halal or Haraam? 🤔

FOREX stands for Foreign Exchange – it’s when you exchange one currency for another.

There are a number of problems with it:
1️⃣ If leverage or margin is involved, it’s haram
2️⃣ The combination of giving a loan and getting something in return is also haram
3️⃣ There is no hand-to-hand exchange of currencies
4️⃣ And there is huge uncertainty (Gharar)

There are a few ‘halal’ FOREX trading platforms available, but they still face some problems with being compliant, and with tons of other halal investment options available, I personally would stay away.

What are your thoughts? Do you trade FOREX?

➡️ Follow @musliminvesting to learn more about Islamic finance and Halal investing

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[YusufAli-rsqc]

Here in East Africa we deal in mobile money, buy n exchange through mobile phone no cash it's digital

[sterben_]

I believe it’s not haraam or halal. I mean if you hesitate just go away. But if you believe, it’s ok to trade

[AliBaba-xefq]

Hopefully you will reply to me. The whole banking system of the world is based on interest. In islam interest (riba) is Haraam. It means that the banking system is haraam. If it is haraam then having a bank account is also haraam because we become part of that system. DO YOU HAVE BANK ACCOUNT?

[SazzadAnalytics]

If i invest on forex and trading, is it halal?

[fedon]

Yes do I just started but have my funds stack in there and wanted to regain it by a couple of trades when the broker depends a double of my deposit before I can withdraw it, 🙏🏻🙏🏻 so please is it a stop ✋ trade or a continue trade

[sunnyosh]

Very immature but cleverly molded definition, which is also haram What u can't explain briefly into YES or NO. Called WASWASA