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Fatwa CenterRuling on Investing in the Forex Market
Question
Is earniny from day trading in Gold Forex market Halal by using strategies and learning about Market without using leverage and funded account?
Answer
All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad (ﷺ) is His Slave and Messenger.
Investing in the global currency market known as Forex may be permissible or prohibited, depending on whether the relevant Islamic conditions and guidelines are observed. This includes ensuring that valid possession (taqābuḍ) takes place—even if constructively—in transactions where possession is required, such as currencies, gold, and silver, and avoiding prohibited elements such as leverage (margin trading), overnight fees (swap charges), selling what one does not own, and trading in instruments that are not permissible, such as binary options, and similar practices.
Accordingly, if the investor avoids these prohibited elements and adheres to the Islamic guidelines in currency exchange and other transactions, then there is no harm. Otherwise, it is not permissible.
Allah Knows best.
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