Online Forex Trading

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I want to know the view of Islam and Sharia regarding the online trade of equity, commodity and specially currency which is also known as forex trade. Nowadays these trade is being done through the trade brokers who has registered business on this online forex trading. Is the income from this trade permissible for a Muslim?

Bismillaah

A: Refer to http://muftionline.co.za/node/3338

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

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