About Forex

Salams,

I have done some investigation in to this. There are only two sound islamic forex providers I could find.

1. TADAWUL FX
2. ACM > but you will need to ask them to arrange an islamic account, based in dubai.

It takes care of all the issue(s) of leverage, riba etc.

WS
Adam

Assalamualaikum..
Can anyone please email me the detail of fatwa research or the University Of Medina Article/Fatwa on currency exchange/trading about forex trading. i am doing forex trading and want to make sure it is within islamic limits.

My email address is: myemel4 (a) gmail.com

Salam
jek

I would highly appreciate it if someone can send me these articles / madina fatwa and halal certificates to me, I am very keen but cannot find this anywhere

Jazakallah Kher

Rashad

Aslam-u-Alykum, I need a solution of a problem. I wanna know about Forex trade ( or currency trade). I seen some forum on internet which say that Forex trading is haram.
As you know, according to my knowledge, business of share is allowed in Islam as it is based on profit and loss. So, the same thing is happening with forex trade which is based on profit and loss, and also its rates goes up and down depending on selling in international exchange market. So, we cannot compare it as some website say it a gambling trade and is called harm.
I will be very thankful if anybody answer me in right direction.

Salam,

Can anybody email me reserach on Islamic FX and the medina article please.

Jk

Ws

Azim

Asalam u Alikum
Dear Brothers,
i am practising DEMO from 2 years..now i am going to open a live acount to trade forex.
but i am confuse dat forex trading is halal or haram.
i asked from many peopls and molana,s about this matter..but nobody can give me satisfy answer..if anybody have any attentic article about forex trading is haram or halal plz send me on this ID
probability143@yahoo.com
i shall be very thankful to u people
Thx And regards

Dear Brother & Sisters,

Aslam-o-alaikum,

This is a very old (and let me say a dead) topic now. Enough has already been said on it. Forex is allowed in Islam provided you do some safety measures. Fortunately, every forex broker is now offering Islamic Forex trading so this is no issue anymore.

Basically before jumping to conclusion; It's a matter of consideration that how well informed we are about forex?

For example, I have over 13 years of experience in forex. I think (rightly or wrongly) that I can answer all the questions in favour of Forex in Islam. However, I don't want to because I am not the authority.

Therefore, please check the URL for your expert analysis:

http://vlib.unitarklj1.edu.my/htm/islamforex.htm

With due respect, I have more points to say in favour of forex in Islam but anyway..

Allah Hafiz

hi,
can you please email me the detail of fatwa research or the University Of Medina Article/Fatwa on currency exchange/trading about forex trading. i am doing forex trading and want to make sure it is within islamic limits.

My email address is: walid_kassar@hotmail.com

Best Regards, 

Salam alayk. Pls i want to fully clarify whether forex trading is halal in islam or not. I once traded real with 150 dollars and lost all but 2 dollars. thanks.

Assalam Oalikum to All !!!))

I just find the new muslim friend around the World

I also interested in Islamic Finance and develop the Halal industry in Kazakhstan

Barak Allahu Fihkya

If you have a copy of the FATWA from the university of Medina, Could you pease send it to me at mis019@gmail.com

Assalam alaekum,

Please forward the submission of the University of Medina on FOREX trading to me. I am planning to go live and I before I do that, I would like to know its implication from islamic view point.

Therefore, I would appreciate it if the submission of the University of Medina is forwarded to me. My email is:tolokesusi@yahoo.co.uk.

Thank you.

Ramadhan Kareem and id-moubarak

Ma'salama

A.B. Lawal
Lagos, Nigeria

Salam to all muslim friends,

Most ulama making statement with believe that 'traders' really 'trade' in forex currency market. To make matter worst forex is traded without exchange.
I wish to highlight to all muslim 'traders' out there about bucket shop. Bucket shop being around for almost 100 years. Most ulama does not aware about bucket shop. Bucket shop nowadays are called 'market maker'. Your position are not executed and never the leave the hard disk of your broker PC. Your position is not entering the forex market and what do we call that ?? That is not a trade; that is GAMBLING.
Forex is 'institutional'. To learn more about forex broker and structure go to this link
http://www.forexfactory.com/showthread.php?t=7484
The article is very long but try to read the thread thoroughly and you would know small amount of money never make it's way into forex market. So leverage and free swap is just another hoax.

I anyone has any information regarding this (i.e. legitimate fatwas) as well as opening a halal trading account please email me.

Jazakallah Khair

Feroz Ashraf

Can anyone send me the article as well. Please.

assalam alaikum ,
DEAR BROTHER
i would like to know whether investing in maxim capitals
is halaal, are they offering real profit or interest? on our investment ,please reply as i am confused in this regard ,and i am really looking forward in investing in maxim capitals,please reply

thanks & regards
Ajaz.attar

Forex is allowed under certain conditions in shariah-
Amongst them there should not be interest paid or taken at roll over { email me i will explain}
But everyone please BEWARE I do trade in forex markets and i have to warn
IT is the riskiest market anywhere. 90 percent fail and lose all their money
and believe that will be you.
The forex brokers are very smart and out to make money.
You can open accounts with a hundred dollars us { what is called a mini account}
My fatwa research is from a famous scholar I study with and also Mufti Taqi Usmani
It is allowed with certain criterian.

As far as you are taking returns in the form of intrest i.e., if you give money to any person as credit and asks him return with percentage it is HARAAM. since you are investing into a business and taking a part of the profits as return it is not the HARAAM it is HALAAL.just as you take vegtables from a farmer for a lesser price and sell it for higher just because to make our livelyhood in progress.

i understand that to we are aiming at high returns & high margins but one should understand that the world has changed and the prices are hiked the cost of living of your city town or village has hiked some 1000's of times as they were @ huzoor S.A.W time. today we r using cell phones , cars, flights, computers even we ar using electric shaving kits for shavin itself were they used at that time? then why r u using them. just because the world has changed change yourself according to the world BUT dont change your EEMAAN i mean it.

friends i have request for all of you? before you think about all of these hard questiones i request you people to concentrate on few things. you people r very much intrested in SUNNAH. so growing your beard wearing white cliths and pagdi are the not only sunnahs but prior to all these HUZOOR never use to tell LIES, daily he use to distribute most of his daily income to people who are in real need and thus he saved the humanity. why dont you people follow them and put these 2 into practice?????????????

comments pls: skr_786@yahoo.com
00919246521774

Salam,

Dear all brother,

I have read the comment from the forex trader and I'd founded that there are many opinion about the forex.

Dear brother, if we found something that make we are confius about it, it is better that we avoid it.

please send me the madina university article, mayzna9897@gmail.com

TQ

hello dear
i need list of forex university in india please , i want take admmision now and i need it hurry .
.and i have bachlor of commerc
thank u .
hamid asgari

i am confused about forex trading being halal or haram. pls kindly send a good Islamic point of view on the status quo to my e-mail: talkwithkunle@yahoo.com
Assalam Alaikum W.W.

As Salamu 'Alaikum

Dear Brother,

I'm from Malaysia, need to really confirm on the halal status of Forex.

Please forward me the University Of Medina Article/Fatwa on currency exchange/trading to Muhd.shafiq@gmail.com
It will be a great help.

Thanks,
Shafiq
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