Halal Investment Guide - Is Forex Trading Halal or Haram?

#HalalInvestment #ForexHalal #ForexHaram

Video key moments:
00:00​​ - Start
00:11​ - Halal Investment Guide: Is Forex Trading Halal or Haram?
01:10​ - The Islamic banking industry
01:52​​ - An Islamic trading account

ABOUT VIDEO:

Today we will consider HALAL INVESTMENT GUIDE: IS FOREX TRADING HALAL OR HARAM!

According to Islamic law, something is "HARAM" or forbidden when the teachings of the Holy Qur'an deems it so. Among the activities prohibited by the Holy Qur'an are gambling and riba, also known as interest or usury.
Since the last two activities are associated with FOREX TRADING, many scholars have argued that Forex trading is HARAM according to Islamic principles.
However, many have pointed out that not all Forex trading accounts involve interest and gambling, such as Muslim Forex accounts.

Furthermore, the consensus among Muslim scholars is that it's okay to exchange currencies on a spot basis. This is because spot settlement can significantly reduce the usury aspect of FOREX TRADING. On this basis, Muslim theologians have reached a consensus that Forex trading can be considered halal.

The prohibition on interest has led to the development of the Islamic banking industry.

FOREX BROKERS, in general, do business by paying or charging the interest differential between the two components of any pair of currency when the position holds overnight.

In an Islamic setting, the brokers allow investors to hold their positions overnight without paying interest or the swap commission.

These swap-free FOREX ACCOUNTS clear the hurdle of usury and allows Muslim investors to take part in Forex trading. Furthermore, the regular, spot Forex trading accounts are for immediate buying and selling and have no overnight interest charges. They also eliminate the element of riba from Forex trading.

An Islamic trading account is a swap-free account that implements the Islamic rulings on FOREX TRADE by forbidding the accumulation and payment of interest rates.

These accounts ensure that the transactions made by the traders are carried out without a moment of delay. Moreover, currencies are traded in the same setting as that of the contract by eliminating future and forwards transactions.

To summarize, Islamic Forex accounts are thoroughly compatible with Sharia laws and appropriate for use by Muslims to earn profits.

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[mrsergey]

I don’t understand someone else’s religion, I don’t know forex trading halal or haram, but I used Islamic accounts, it turns out that you spend the same money as on standard forex accounts.

[ashamhama]

Can you provide the names of the scholars who have reached a consensus that forex is halal?

[gamesfusion]

Hi
Can you tell us about AB investing brokers
Is it legit or scam 🤔

[primak]

a lot of Muslims make money on forex, so I don’t quite understand why there is a question Is Forex Trading Halal or Haram?

[doylevandervort]

Thank you, I looked with interest about Islamic traditions, they trade a lot without violating religion, investing in Forex is Halal

[INSIDE_AREWA]

Margin and leverage are HARAM in Islam

[uradobr]

If you have Islamic accounts, then forex trading is halal.