Dear brothers and sisters,
assalamo alaykom wa rahmato allah,
I am so interested in forex exchange but unsure how to play it safe from islamic perpective. Could anyone summarize in practical terms how would I know if I am trading forex without violating Islamic law? and anyone knows any site or material that explains forex in simple terms,e.g: for people who never have done or studied business before.
jazakom allaho khayran.
fee aman allah,
Ghassan
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Sapri (not verified)
article from the university of medina
Sat, 2007/09/22 - 12:30SALAM,
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
Visitor (not verified)
Request for University of Medinah Article
Fri, 2007/10/05 - 19:01Salaam,
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.
Muhammad Mahmood (not verified)
islamic forex trading
Tue, 2007/10/23 - 12:19Salaam
please send me the article on islamic forex trading on my email address. I want to know its applications in the Islamic law
Shahzada (not verified)
FX trading information
Wed, 2007/10/31 - 19:04there is some very useful information on fx, forex and foreign currency investment at http://www.startonlinetrading.com
Visitor (not verified)
forex
Tue, 2007/11/27 - 12:17please i want know more about forex.
Zishan (not verified)
Forex trading seems to be generally haraam
Tue, 2007/11/27 - 16:08Assalamalaikum 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.
muslim sister (not verified)
halal investments
Fri, 2008/01/25 - 09:36Dear Muslim brother
I came across your comment, on muslim investor and was interested in what you said. Please tell me of any
investments that I may invest in. It is very difficult when a person lives in a nonmuslim country, everything
around here is haram. I also would like to know, have you completed your research about Forex trading, is it completely haram, there seems to be many different views, your reply is greatly appreciated. If it is haram, are there any companies that do hala currecny trading.
please reply
Nishat (not verified)
article
Sat, 2008/01/05 - 13:17SALAM,
Could you please provide me the article from the university of medina into my e-mail box nishat@aol.in
Wa salam
mohd firdaus (not verified)
university of medina article
Thu, 2008/01/31 - 04:42SALAM,
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
Farhan Khan (not verified)
Request for University of Madina text
Mon, 2008/02/25 - 18:39As-salaamu Alaikum,
Could you please send me a copy of the text at rinosaur@hotmail.com ?
Farhan Khan
Mohammad (not verified)
Madinah University Forex Fatwah
Sun, 2009/04/12 - 20:39AsalaamuAlaikum,
I would very much appreciate a copy of that forex fatwah, if you would so kindly send it to my email address at md.sarhan@gmail.com
JazakumAllahu Khair.
Visitor (not verified)
Assalamu Alaikum,
Sun, 2008/03/16 - 02:20Dear 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....
Visitor (not verified)
hanyabdelraouf11@hotmail.com
Thu, 2008/05/15 - 07:14hanyabdelraouf11@hotmail.com
Dear Sir:
Iam using forex since one month but I got confused and I want to ask about is it legal in Islam or no please answer me,iam dealing with no swap and no interest but the company im dealing with takes a commission for any trade if I loose or gain and they didn't specify any time to open or to close the trade .
I got confused because I tried to read about it online but I found many debates about the margin and that I didn't buy or sell something I own ,please please answer me or e mail me the documents you have that its halal and legal or what
My e mail is
hanyabdelraouf11@hotmail.com
Regards
Rahil ahmed (not verified)
ARTICLE OF MADINA ISLAMIC UNIVERSITY?
Mon, 2008/03/17 - 18:21ASSALAM 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
mazlan (not verified)
university of medina artcle on forex
Fri, 2008/03/21 - 10:38Could 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
Alika T. (not verified)
Forex Article
Sat, 2008/03/29 - 19:32Assalamu'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.
Farhan Khan (not verified)
Questioning existance of this Madinah "fatwa/article"
Mon, 2008/03/31 - 22:01As 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
Yousuf Muhammed (not verified)
Online Trading in FOREX is Halal or Haram ???
Tue, 2008/04/22 - 09:58The 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
M.Aqeel (not verified)
is forex trading halal?
Mon, 2008/05/19 - 11:11Slam!my question is that i am working in spot forex online trading so my business is right or not.plz answer me in detail if this business is total haram why?because all items rates will resis from this market.
i am very thankful to u
yours sincerely
M. Aqeel
Aqeel (not verified)
online forex trading
Mon, 2008/05/19 - 11:17SALAM,
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
Visitor (not verified)
Forex Article
Mon, 2008/05/19 - 11:30As 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
»
Abdul Fattah Sadiq (not verified)
Is Forex Trading Halal or Haram
Thu, 2008/05/22 - 13:35i 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.
Visitor (not verified)
Qustion
Wed, 2008/06/04 - 12:33hello 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
Bro (not verified)
need article of university of Madina
Fri, 2008/06/13 - 13:00please send me the madina university article, mayzna9897@gmail.com
TQ
Syam (not verified)
Forex
Mon, 2008/06/16 - 20:45Salam,
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.
KHAJA RAHAMATUL... (not verified)
DONT GET CONFUSED
Thu, 2008/06/19 - 02:29As 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
yaams (not verified)
halal or not
Mon, 2008/06/30 - 07:21Forex 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.
kash (not verified)
halal or not
Mon, 2008/06/30 - 14:50salam brother yaams, please could you elaborate. What conditions make the forex trading halal, do you have any fatwa available to hand? Which forex broker do you use to trade with? Do you have an address on which i can contact you ti discuss this further? Kind Regards. my email add is kmm_2008@hotmail.com
Asim (not verified)
Forex Trading
Fri, 2008/07/11 - 01:16hi,
can you please email me the detail of fatwa research about forex trading. i am doing forex trading and want to make sure it is within islamic limits.
my email address is asimsattar@hotmail.co.uk
look forward to hear from you soon
thanks
Asim
buterflyyou (not verified)
Aoa, i am begginer to the
Fri, 2008/08/01 - 02:58Aoa, i am begginer to the Forex can you email me the specs of its espacially the other links to the useful pages,you said its risky but how more and more people are practicing it. my email is buterfly_you@yahoo.com
thanks
mahbob ilham (not verified)
Islamic broker for Forex trading
Wed, 2008/08/20 - 11:45A'kum, dear sir, . I refer to email from Mr. Yaams dated 2008/06/30 in this column. FYI I am too very keen in doing FX trading using indicators that I have compiled and modified to ensure that it will sure fire and make profit. I have tested using demo account for about 2 months and the result was very encouraging, I have been making profit through that period. Now I am very confident with my indicators and intend to open and trade using a real account. Accordingly I have been doing my own study / research about halal and haram in FX trading from several ulama' / scholars those who are conversant in Islamic finance, economics, muamalah etc. Now what I need is an Islamic broker as my trading platform. My question is, how can I be sure that they are using Islamic instruments in doing FX trading? This is very important as it will determine as to whether our profit gained from our FX trading is Halal. I have searched from the internet about Islamic brokerages as a platform for FX trading, what I notice they do not charge interest and commission. Fine. But how can I be sure that other instruments that they used are in accordance with Islamic syariaah? Do they have any certificate issued by any reputable Islamic authority certifying that their instruments are complied with Islamic laws? Therefore I really need somebody to help me to introduce an Islamic broker/s so that I can choose and open an account for my FX broker / platform.
Thank you.
Regards;
Mahbob Ilham
PutraJaya
Malaysia
masood ahmad (not verified)
forex trading
Sun, 2011/09/11 - 11:02please contact the darul aloom karachi
following email address
daruliftadarululoom@gmail.com
Visitor (not verified)
Assalamu Alaikum Brother I
Sun, 2008/09/14 - 07:24Assalamu Alaikum Brother
I was looking into the possibility of getting into the forex market which was sharia compliant, I came across this one avafx.com who claim to be halal. I would like to know what you think about them
Aadil (not verified)
Salaams. I'm looking to
Sun, 2008/09/14 - 09:54Salaams.
I'm looking to trade in forex as well and would like some advice as how to get started and which accounts are halaal.
What is a roll over ?
Can you please also suggest a place Where I could begin trading?
Jazakallah
Visitor (not verified)
Oh and could u please email
Sun, 2008/09/14 - 09:55Oh and could u please email me your answer
Aliu Lawal (not verified)
Is Forex Halal or not?
Sun, 2008/09/28 - 06:16Please share the criteria for trading forex halal way.
Appreciate.
A.B. Lawal
AftabAhmad (not verified)
Forex Trading
Sat, 2008/10/04 - 13:26KIndly send me deatils about Forex trading in Islam.
goraya_165 AtTheRate yahoo.com
(e.i AtTheRate = @)
Thanks
Aftab
Visitor (not verified)
Askign for Islamic University of Medina report
Sat, 2009/12/26 - 15:47Dear brothers,
Can anyone please send me the report of the Islamic University of Medina on my emil address aymanm70@yahoo.com.
Salam,
Ayman
Visitor (not verified)
Islamic forex trading
Sun, 2008/10/19 - 03:38Hhello Yamms
My name is Ryan. I have been trading forex successfully for two years now, AlhamduliAllah. I saw your post on the fatwas on fores trading. Do have a complete list of guidlines that must be met before one can trade forex Sharia compliant way. If you have this information please contact me with it. I'd appreciate any input from you.
Thanks in advance
Ryan
m noor (not verified)
Islamic Forex
Mon, 2008/11/03 - 04:12Dear Ryan,
I am searching for a forex platform in Islamic shariah comliant. I am still new in forex and currently have open a live microlot account (USD 25) with fxcm. Since you have being successfully traded in forex for 2 year, I would very much appreciate if you could teach me how to enter and exit the market. Currently usinig indicator such as MA, Bollinger and RSI. Eversince trade with live account,I always loss most of my money traded. I am still new and need your skill guidance to learn the trade in correct method.
Wassalam,
Mohd Noor, Malaysia
Visitor (not verified)
Forex
Thu, 2009/02/19 - 01:41Conatct me for forex trading.I've 5 years of experience of forex trading
Visitor (not verified)
Assalaumagalaikum! Dear
Tue, 2009/05/26 - 05:29Assalaumagalaikum!
Dear brother, as I see you trade on Forex. I do too. I would like to set contact with musis brother in Forx trading for mutual cooperation. Let's contact to share expertie and knowledge!
If you are interested please write to:
maxatkur@mail.ru or maxatkur83@yahoo.com
skype: magripa59
Best regards,
Maxat
Visitor (not verified)
forex trading
Thu, 2011/06/02 - 15:58hi can you give me any advice about forex trading .regards hasan
Visitor (not verified)
Assalaumagalaikum Ryan! Dear
Tue, 2009/05/26 - 05:27Assalaumagalaikum Ryan!
Dear brother, as I see you trade on Forex. I do too. I would like to set contact with musis brother in Forx trading for mutual cooperation. Let's contact to share expertie and knowledge!
If you are interested please write to:
maxatkur@mail.ru or maxatkur83@yahoo.com
skype: magripa59
Best regards,
Maxat
amin (not verified)
halal or haram
Mon, 2009/10/12 - 05:01dera i am amin from pakistan
dear plz send me detail of forex trading is halal or haram
i am worry and i am interested very much
looking forward
reply soon
amin suleman
M Faisal Nisar (not verified)
Need to know the conditions
Wed, 2009/01/14 - 07:07Hi,
Like to know your knowledge on Forex Trading in Islamic way.
What are the certain criterian?
Regards,
Faisal
Abdul Muqeet (not verified)
Forex Halal or Haram
Thu, 2009/01/22 - 17:23Please can you refer me to a site where i can study this area further to determine what the criteria is in order to trade with Forex?
Jazaakallah
Visitor (not verified)
Forex criteria
Tue, 2009/02/17 - 17:03Salaam aleikum,
I heard about forex and autopilot trading with a software, and got interested. But i wasn't sure if it was allowed or not. could you please tell me the criteria you learned from the Mufti Taqi Usmani.
Thanks allot.
Visitor (not verified)
hi dear
Sat, 2009/03/21 - 08:48Dear i want some clarification about forex trading..and what is the fatwa of Mufti Taqi usmani..can u plzz send me dat fatwa
my E mail ID is probability143@yahoo.com
i shall be v thankful to uu
Visitor (not verified)
Salam, i am a FX trader, i
Wed, 2009/03/25 - 07:20Salam,
i am a FX trader, i was wondering if you could send me your reserach on islamic FX.
Ws
Azim
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