Is online forex trading permissible?

Published as Online forex trading

2 Dec 2013 · 29 Muharram 1435 AH1 min readEnglish

Question

Is online forex trading permissible? Many brokers offer Islamic non-interest accounts. I intend only trading in gold. Is this fine?

Answer

If you are referring to purchasing gold online in exchange of money, it is permissible on condition that you take possession of the gold. However, if possession of the gold does not take place, the transaction will not be permissible.

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

Answered by: Mufti Zakaria Makada
Checked & approved by: Mufti Ebrahim Salejee (Isipingo Beach)

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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/4586
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-4586

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