Trading in on-line currencies
Q: Is it permissible to trade currencies online. Funds are deposited into an account and the funds are then used to buy or sell currencies. Once the
currency fluctuates, you do the same.
A: We do not know how this operates.
And Allah Ta’ala (الله تعالى) knows best.
Read these QA to learn more..
- Trading in currencies
- Trading in Foreign Currencies
- On-line Forex Trading
- I want to know about FOREX trading. In FOREX trading, currencies are traded over the counter with exchange rates varying in response to market forces. Currencies are always traded in pairs, one against the other. For example, the highest volume pair in the Euro/U.S. Dollar, which has the ISO (International Organization of Standardization) code EUR/USD. When the exchange rate is quoted, it looks something like EUR/USD = 1.3116. This means that it takes $1.3116 to buy one Euro. This is not money on money like interest or gambling. This is similar to the stock market, but on a far larger scale and has an equal number of loss or gain probability.
- ASAK!! Is Currency Trading is Halal? if Halal! currency trading in future that is buy today sell tomorrow or day after is Halal? the possibilities of profit in currency trading only on future that is taking to next day or two. I learned from dfferent articles that taking to the future is Haram or Najayaz. But sorry to say more risky and more benefficial in the friction of seconds. Kindly write in detail please….. =============================================== Last Day I found a website http://forexsolutionsllc.com which describes about Electronic Gold Trading under different profit basis, that is 10% – 15% Daily on Your Investment, as I also have an experience in trading currencies and gold that this company makes profit both in raising and falling market. By using our investment they make plenty of profits/loss (Allah Knows Better) but they are allocating ONLY 10% – 15% (on their basis)out of it, and crediting after 24 hours and period of Investment takes a DAY / a WEEK / a FORTNIGHT / a MONTH /.(different plans) Is this is Allowed in Shariah…. Do You think is there any Involvement of Riba? Does we mean a fixed profit as Riba? Here Market fluctuates like waves or layers!!!! Since we dont posses any risk yet if market CRASHES unfornately our amount is under risk!! And one more thing after deposits for example if A deposits 400$ on 10% Daily basis he gets back daily 10% = 40$ for 15 days. So 40$ x 15 days = 600$. He is not getting his capital amount that is 400$ and In some plan they are giving back the capital amount also. Fortunately I…
- Salaams. Can i trade Forex? (ie) buying and selling currencies. The trading is during a period of a single day. Is it halaal to trade these currencies?