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Is Forex Trading is allowed in Islam.Forex Trading is Currency Trading on Internet where you trade on margin and leverage mechanism..

Answered according to Hanafi Fiqh by Muftisays.com
Is Forex Trading is allowed in Islam.
Forex Trading is Currency Trading on Internet where you trade on margin and leverage mechanism..


Answer

Bismillah

Al-jawab billahi at-taufeeq (the answer with Allah’s guidance)

Forex trading is not permissible. Please see the Fatwaa of Mufti Taqi Uthmani (DB): http://www.albalagh.net/qa/Forex_currency_trading.shtml

And Only Allah Ta’ala Knows Best.

————————————–
Moulana Qamruz Zaman
London, UK

This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.

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