Online options trading

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: My question is about online options trading. In this we trade between currencies. It is like tearing currency for 1, 5 or 15 minutes. So if the value of the currency goes up in that time frame (which we can predict by doing some calculations and indicators) and if the currency goes down we lose money. It is between two currencies like we trade Euro for USD. We buy USD by paying in Euros and when it is expected to go up in value or USD/EURO. The money transaction is instant and simultaneous. So, if we make a prediction the money is deducted from our account instantly and if we predict rightly we get profit. Mostly we get profit. Can you please guide me is it Halal or Haram?

Bismillaah

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A: This is doubtful. Refrain from it.

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

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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