trading forex-haram-halal

trade one type of currency for another (e.g. Like now a days, its very common that people invest in Euro to earn profits.

Taking interest is strictly forbidden in Islam and there is no room for a grey area in the matter. This would mean that trades must involve either some element of fundamental analysis or technical analysis which the trader actually has a firm reason to believe. In the olden days, there were of course no computers or telephones, so the aspect of making a deal face to face (or hand to hand) wasnt much of a question. The question as to whether Forex trading is permissible according to Islamic law is a difficult question to conclusively answer.

trading forex-haram-halal

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You can break down companies form an Islamic perspective into three categories: Shares from permissible practices, shipping, manufacturing, clothing, medical equipment, real estate, tools, furniture, supplies and so on are all free from haram practices or transactions, such as cheating and borrowing on the basis. If you want to be certain that your trading activities are Halal, we recommend that you consult with a religious authority that can consider your individual situation. Forex trading is increasingly accessible and the potential for quick money draws more traders in every day. 1-, as a Forex trader you need to have a reason to take that action (sell or buy) 2-, not gamble on the trend direction but analyze the market. If you were to buy 4,000 for 2,5000 and sell it six months later when the pound appreciates against the dollar, then this is a halal transaction. In these circumstances the stock market is haram. Hence, any currency trade transaction that involves ANY type of usury, is not allowed in Islam. If they are of the same kind, such as dollars for dollars, or dinars for dinars, then the exchange must take place in the same sitting and they should be of the same amount. The interest problem also eliminates any possibility of trading Forex forwards, as there is always an interest element involved in these transactions.



trading forex-haram-halal

Is Trading Halal. I m a muslim and yes I do trade. And I once argued with one of my colleague about it (he s an old timer conservative). Since both of us working abroad. Is trade in currency halal?

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