Is Forex Halal?

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Thanks for watching our video: Is Forex Halal?

In this video we covered Is Forex Halal?

“Forex” is short for “Foreign Exchange” and represents the global market for speculating on the price of currencies.

Now the Sharia has no inherent objection on trading different currencies.

On this topic, the prophet peace be upon him said: “...If the types are different then sell as you like, so long as it is hand to hand.” meaning the currency exchange is immediate.

The issue with forex trading as it is commonly done is that you don’t really own any currency. If you go long the Japanese Yen on a Forex trading platform you don’t actually own any Yen.

In reality, you’re just entering into a financial bet with the other side of the trade.

Therefore in my assessment, Forex trading is a form of al-maisir or prohibited gambling and is haram to do.

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Our channel is about helping people invest to build wealth in a halal way. We cover topics such as halal crypto investing, halal stock investing, and halal product reviews.

DISCLAIMER
Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your own due diligence before making any investment decisions.

[ittefaqincubators]

You are so right my brother
I feel glad to found you

[livrpool]

Imo, if there's a forex spot trading that allows u to own the exact currency ur trading, then it can be permissible, i think the important thing he's trying to point out is the actual product

[fxbank]

Now a days everyone became mufti and saying haram and halal like it is nothing. If the digital exchange is haram so will be trading actul bills will also be haram like exchanging two currency in actual bills. Forex is just a digital form of the actual currencies.

[zaidshafat]

Then what about the land dealer. He doesn't have any hold on land and he still sells it to others and takes money then hows that halal

[SaadArshad]

When you are trading forex you are buying the contract. It’s like buying stocks. In stock market they don’t hand you stocks. You buy the contracts. Same thing with forex.

[haych]

Most traders study market vigorously using analysis and risk management and have concepts and rules by which they make trades, not sure if that’s considered gambling

[zryanhassan]

Salem Brothet, is daily trading halal? Buy low and sell high on Robin Hood account?

[Growthefaith]

Brother forex is not haram its only haram when your using leverage or a loan given to u with interest

[mirzzyl]

What if your broker is an A book broker ?

[Mahmoud-Khouyani]

Brother if you go from England to Saudi Arabia are you going to pay pounds there? Or are you going to exchange it for Riyal?

[starmmd]

hello, sir this point is 100% true . but there are some brokers like interactive broker where you're actually buying/selling the underlying assets using (cash account and avoiding margin account). in this case will it be permissible??? I hope you answer me .

[samrinaqayyum]

So if we buy stocks we don't normally own it as well.
Also if u buy any currency u r buying it with your own money which was your hard earned money. So if I bought another with my money, the other one is real too

[basem]

But you are buying and selling it with its real worth. How is that gambling ? It is like a normal trade it could lose or make profit.

[wirza]

Yup, in forex you don't actually *own* a currency you pair with (as far as I know). Besides, isn't that forex haram also because it's doing two buying and selling transactions in one transaction?

You need to manually convert the currency yourself.
E.g. you think the USD will weaken (coz the Fed will cut the interest rate in the next meeting this month). So you convert your USD to EUR, and you *hold* the EUR until the fed cuts the rates and the USD weakens, then you convert your EUR back to USD. Currency moves slowly most of the time, you need a LOT of money to 'see' the profit.

[hellojee]

Also Investment Though robinHood Permissible to Day Trade if not Then Suggest Any Stock Exchange

[aliomar]

You didn’t talk about leverage in forex brO I don’t know what’s going on someone says leverage is haram in forex some of them even don’t talk about leverage huh 😢 plZz help me if you know about is or have a detail video about forex . And islamic finance is not really helpfull website it doesn’t have anything without investing with you and you will give us 20% return in a year that is nothing i just unsubscribed it yesterday.

[adnanchause]

Bro i have question in stock market there also you don't owne a real company when you buy stock of a company so is stock market is also haram

[shams]

Brother, is it haram to mine the pi network?

[junaid]

Brother Collab with IFG you both doing really good work...

[Youutuubyouu]

Assalamualaikum bro im confused then what is halal in trading?