Topic: Forex (Foreign Exchange) Online Trading   (No-103184)

Q Earnings from online forex trading is Halal or Haram? Please give point of view of Islam.

a Forex online trading business is not permissible in Shari’ah (شریعہ), because it’s procedure as per our knowledge is, that a person is not directly eligible to purchase from this market, but enters in the market by opening up his account in a company by investing some money (for e.g. 1,000 $). These companies, in addition to providing different facilities, also give guarantee of a huge amount of money to the investor. On Internet, rates of different items in this market are updated continuously (showing increase/ decreases).

A person trades using gurantee of heavy amount given by the company. Once the rate of any goods increases, he sells them out and earns profit, but if the rates of any goods decreases, it is considered as his loss.
The company gets it’s commission on completion of a trade in either case.
If a trade is not completed in stipulated (agreed upon) time, the company charges additional for it.

A persons sale/ purchase are only paper transactions. The goods purchased/ sold are neigther owned by him, nor intended to be owned, but only the profit/ loss is being credited/ debited to him.

Therefore, being kind of a gambling, this business is not permissible in Shari'ah.

Commission on the guaranteed amount by company is either Interest on Debt or Sponsorship wage and both are forbidden in Shari’ah.
Therefore, being part of forex trading and gaining profit from it is not permitted in Shari'ah, and abstaining from it is necessary.

ALLAH Almighty knows best.
DARULIFTA AL-IKHLAS, Karachi.
(For more Questions visit https://Alikhlasonline.com)

۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔۔
:دلائل
:لما فی الصحیح لمسلم
عن ابن عباس رضي اللہ عنہ قال: قال النبي صلی اللہ علیہ وسلم: من ابتاع طعامًا فلا یبعہ حتی یستوفیہ، قال ابن عباس: وأحسب
کلّ شيء مثلہ۔
(کتاب البیوع، باب بطلان بیع المبیع قبل القبض، ج2، ص13)

:کذا فی مجمع الانھر
لا یصح بیع المنقول قبل قبضہ، لنہیہ علیہ السلام عن بیع ما لم یقبض۔
(کتاب البیوع / باب البیع الفاسد، ج۳،ص۱۳، کوئٹہ)



ALLAH Almighty knows best

DARULIFTA AL-IKHLAS, Karachi

(For more Q&A visit)
http://Alikhlasonline.com

More Fatwas in Business & Financial

Q Forex (Foreign Exchange) Online Trading
Q Terms for the business of Shares
Q Ruling of earning through music
Q Taking education related to interest
Q Doing business of Birds and Cages

Find here answers of your daily concerns or questions about daily life according to Islam and Sharia. This category covers your asking about the category of Business & Financial

02 Apr 2020
جمعرات 02 اپریل - 8 شعبان 1441

Copyright © AlIkhalsonline 2020. All right reserved.

Managed by: Hamariweb.com / Islamuna.com