About Forex

The following details is about the company pls tell me it is halal or haram..

(Maximcapitals.com is Online Trading in FOREX (International Currencies) and Commodities (Gold, Silver, crude oil etc) The participants in this Forex and Commodity trading market are Central and commercial Banks, Corporations, Institutional investors, and private individual investors.)

Yousuf Muhammed

As salaamu alaikum,

As you all can see no one has confirmed receiving any such article from Khalil Abdullah. He happens to run a forex/consulting business and it would obviously be in his favor saying that the entirety of forex is halal. I'm not accusing him just yet but I want people to know that nobody has received this article and the only person who claims to have or seen it is the one who runs the forex business. I've done an internet search and came empty handed. If Khalil could please speak up on this thread or anybody else with information, please do, it would help many many brothers/sisters.

Aside from that, the islamonline article notes that margin trading is haram, and virtually all forex investors use margin trading (leverage aka 1:100 1:200 that sort of stuff). Final confirmation from fatwa would be nice but until we have it we should assume based on the islamonline analysis that it is probably not permissible.

Salaam,
Farhan Khan

Assalamu'alaikum brothers,

Could someone send me the University of Medina article regarding the Forex issue to my e-mail, anak_menteng_89@yahoo.com?

Thank you very much!

Sincerely,

Alika T.

Could anybody has the article send it to my email. Please don not left me in the dark regarding forex , whether it is halal or haram.

I really appreciate if anybody can send me the article.
May Allah bless you.

thank you

ASSALAM WA ALAIKUM BROTHERS, well i have rowsed a lot for the details but contradicions dominate the charts so i would like to have the article /fatwa issued by the madina islamic university.plz can u mail me the article at r3k_ultimate@yahoo.co.in

Dear Brother,
Can you please send me article of Madin university about Forex at ala_ca@hotmail.com

I am researching on Forex about 4 months that is it Halal and I found different opinion on it. Who oppose Forex they say that you are not paying full payment.
Brother I have question if I am buying a business and If I pay 100$ and will ask some rich person 900$ and he will take commission on his money as fixed amount one time, not related to the money, is it Halal or Haram......
Tell me what is business I can do in non-Muslim country without loan on interest with normal investment which most of us have....

As-salaamu Alaikum,

Could you please send me a copy of the text at rinosaur@hotmail.com ?

Farhan Khan

SALAM,
Could you please provide me the article from the university of medina into my e-mail box.May God Bless you as you do.
Wa salam

SALAM,
Could you please provide me the article from the university of medina into my e-mail box nishat@aol.in

Wa salam

Assalamalaikum all!

I came across this website when looking for an answer to 'Is forex trading halal?'. I've been relatively successful with my investments, alhamdollillah and have been learning about the forex markets for some time without really thinking about whether or not they were halal.

Reading this webpage and specifically this link (see halfway down the page the question from brother Arqam):

http://www.islamonline.net/livefatwa/english/Browse.asp?hGuestID=Ta4O7M

It seems that Forex trading on margin or over a day in length of trade is not permissible.

On that basis I'm going to try to avoid Forex trading altogether! Even if I did it in a 'permissible' way, I'm likely to have to sign a contract or agreement that mentions interest anyway which is no good either. With Forex, it's extremely easy to lose a lot of money, (ALL forex traders lose money most of the time) and even if I did do well, if it's not halal money then it will do me no good anyway! The way I see it, why bother?

Ignore the hype about forex, find halal investments and you will benefit by more than just a good return on your investments, inshallah!

Salaam
Z.

please i want know more about forex.

there is some very useful information on fx, forex and foreign currency investment at http://www.startonlinetrading.com

Salaam,
Ramadan Kareem. I would really appreciate it if someone could forward this article from the university of medina to me as I wish to know whether it is halal or haraam. jazakallah. Wasalaamu Alaikum.

SALAM,
Could you please provide me the article from the university of medina into my e-mail box abgnong@yahoo.com
urgent!
May God Bless you as you do.
Wa salam

assalam..........
could u please send me the article from the university of madina to my email . Lan4_ali@yahoo.com.my

Some forex brokers offers special Islamic accounts. spot forex is ok, the problem comes when the position is rolled over and interest is taken / given. islamic accounts have no such interest and therefore it is ok.

I'm trading forex for quite some time and the best broker I've used is www.avafx.com, and I was also surprised and please to know that during ramadan they donate 10% of thier profits to islamic purposes.

I hope this help.

assalamu alykum,
please i'd appreciate it if a copy of the sought after medina article could be forwarded to my inbox or the ISLAMIC RULING ON ONLINE FOREX TRADING.....jazakallahu khairan

SALAM,
Could you please provide me the article from the university of medina into my e-mail box.May God Bless you as you do. my email :blog4dollar@yahoo.com
Wa salam.

Sincerely,
ibrahim

dear brother in islam,
assalam alaykum. please i want to know weather it is permissible in islam or not to trade in forex online. this is the only way people are making money this days. we as muslim want to know the islamic point of view on this issue.

Thanks

ja zaakum llahu khaeran

Adegokeh Abdur-rasheed

dear brother in islam,
assalam alaykum. please i want to know weather it is permissible in islam or not to trade in forex online. this is the only way people are making money this days. we as muslim want to know the islamic point of view on this issue.

Thanks

ja zaakum llahu khaeran

Adegokeh Abdur-rasheed

Dear Brothers in Islam,

Please kindly send to me a soft copy of the Article by University of Medina on Forex Trading VIA THE ABOVE E-MAIL ADDRESS.May Almighty Allah reward you abundantly with Fridaus.

Ma-Salam
Abdulhakeem Onatade

Assalamu alaykum, please i also want that article on forex by islamic university of medina.

SALAM,
Could you please provide me the article from the university of medina into my e-mail box.May God Bless you as you do very soon. my email : saeedade@yahoo.com
Wa salam

Sincerely,
Saeed Adekunle,
Nigeria.

Here's a religious opinion on forex from Islam Online.

As Salamu 'Alaikum

Dear Ghassan and others,

Forex is a halal investment that involves zero riba. Forex is a spot currency market that makes it halal. There are multiple types of currency exchanges the scholars have agreed that Forex is no different from the traveler changing money on the spot when he enters a foreign land. Therefore Forex is halal. Forex prices are based off of speculation of investors, banks and governments. I can provide any of you with a full text from the Islamic University of Medina, Saudi Arabia that has a section on currency exchange. If any of you are interested in establishing any accounts please send me a private message.

I suggest clients come in with sizeable margin (principle). Forex moves extremely fast the larger capital you have as margin allows you to sustain the market volatility. Minimum for establishing new accounts with me is $50,000.00 USD. I recently also became aware that those in India cannot invest more than $25,000.00USD a year. However RBI will allow you to open a Forex account in America that has no limit on it.

Other Services:

*Insurance
*Mortgages
*Annuities
*Off Shore
*Business Consulting

Former Clients:
Warner Bros. Records, Inc.
Interscope Records, Inc.
Q-York Entertainment, Inc.
Priority Records, Inc.
IllProduct Productions, LLC

Sincerely,
Khalil Abdullah