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Forex Trading

Answered according to Hanafi Fiqh by Askimam.org
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Assalamu Alikum.

My Question is related to Forex Trading (Currency & Gold). I read all Fatwa from your Website regarding Forex and your Suggestion is given depend on the Brokers Policy.

Please Give Detail if any Brokers doing Forex Trading which Comply with Sharia Law?

I hope it will be answer for all Muslim forex Traders.

Jasakallahu Hairan.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We are not aware of any “Forex Broker” that provides Shariah compliant forex trading services. Moreover, we discourage online forex trading as it contravenes the Shariah precepts of trading. 

And Allah Ta’āla Knows Best

Anas Sharieff Qasmi.

Student Darul Iftaa

Hyderabad, India.

Checked and Approved by,
Mufti Ebrahim Desai.

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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