Mufti Online — Madrasah Ta'leemuddeen

Forex trading

· 12 Rajab 1439 AH1 min readEnglish

Question

I do forex trade in Islamic account which is swap free and I don't take any leverage. For example if I deposit 10000 rupees in my account I will buy dollars from these rupees and will sell them when the price of the dollar increases. Is this profit permissible for me?

Answer

If you do not get possession of the dollars then such a deal is impermissible.

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

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/25208
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