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Is Forex Trading Haram or Halal? | An Insider View

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Prior to IslamicFinanceGuru I worked as a corporate lawyer (Ashurst LLP and Debevoise & Plimpton LLP) and advised some of the largest forex brokers in the world on their regulatory issues.
Through this I got a really under-the-skin insight on what this business model actually is, if its truly haram or halal, and if it is actually something you should invest in.
In this video I wanted to share some of my insights into whether online forex trading is haram or halal and whether it is commercially a good idea for the average investor.
I would love to hear your thoughts in the comments below!
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TIMESTAMPS
00:00 - Introduction
00:47 - What is Forex?
02:04 - What is leverage and is it haram or halal?
03:37 - But Forex doesn't involve a loan or 2 transactions
05:56 - Islamic Forex accounts
06:51 - How many people actually win in forex?
08:46 - Conclusions
Who are we:
We are two Oxford grads who have studied Islamic finance both at uni and classically for over 6 years. We quit our corporate law jobs to go full-time on IFG in 2020. We are on a mission to help 25% of the world's population with their personal finances.
Islamic Finance Guru (IFG) is an Islamic finance comparison and analysis site that helps people with their investment, personal finance and entrepreneurial journeys.
We do this for one reason: to make our community better-off. We want to take Muslims from being among the poorest in society to the richest. We think that this is the most effective way to deal with problems like discrimination, under-representation and poverty. For more about the team visit: www.islamicfin...
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#forex #forextrading #forexfatwa #Islamicforex #halalforex #investment #startup #investing#shariacompliant #halalinvesting #halalinvestment #islamicfinance #ifg

Опубликовано:

17 авг 2024

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Комментарии : 1,7 тыс.

3 года назад

The messenger of Allah صلی اللہ علیہ وسلم said “You will never leave something for the sake of Allah, but Allah will give you something better in return.”

@tiosevenstars 3 года назад

Masya Allah brohter

@aftychodhu758 3 года назад

Beautiful reminder. Subhannallah

@Lilyoregon Месяц назад

I have devoted to my financial expansion this year, started with ETFs which has given me 12 percent growth so far but I recently diversified into Forex which has made me over 70k with a 100k capital

@phantomholdingsinc3804 Месяц назад

Wow, I know it is profitable if done well which is a skill that is hard to learn. can you help me get started

@Thyago2420 Месяц назад

Great, as far as the holy book does not forbid trading just as Ibrahim has explained then I am going to give this a try, can you show me how

@Lilyoregon Месяц назад

I can't coach you because I barely know how rather I use an expert for it

@Lilyoregon Месяц назад

Benjamin ravies That’s his gmal okay

@phantomholdingsinc3804 Месяц назад

Thanks a lot, I have mailed him and I will be back soon to tell you how my journey is going

@blususpect 7 месяцев назад

This was very clearly outlined & well explained, I feel like a lot of us may not like to hear the fact that this is haram, but Allah knows best. Jazak Allahu Khairan.

@ciscoworld322 3 года назад

I was about to get into this and buy a training worth 12K by one of the top Forex trader. Alhamdulillah I watched your video. I don't want to earn haram money even there is a prospect of earning more money. Whoever, leaves the haram sake of Alloh, he will get something much better in this dunya and hereafter.

@faouziajr1416 3 года назад

Which trader it is ? does he have an IG account ?

@rshtaimorvari6598 2 года назад

الحمدلله

@carmatrix3989 Год назад

@@faouziajr1416 😂😂🤦‍♂️ fam 😂😂😂

@osmanxxrngxx1369 Год назад

12k Thats alot money be careful akhi or SIS they Will scam l would advice start bussnies with that money find bussnies thst befit You

@Dmdst Год назад

@@faouziajr1416 bruv

@humanpsychology7629 2 года назад

One of the only true person on youtube who has knowledge of forex and logically explain why it is not halal.

@IbrahimMohammed-pq9in Год назад

Is it halal or aram

@bilyaminuyahaya8386 10 месяцев назад

@@IbrahimMohammed-pq9inHaram according to him. And what make it Haram is that leverage charges

@nasircoolcare9752 6 месяцев назад

@@bilyaminuyahaya8386 if you are pay Interest on leavarage then it's not permissible.Some brokers given leavarage but after the Trade close they own their leavarag. Same like We do physically Investing and we need more money to buy a products so we say to ours relative or friends give me more money I will invest. This happening by physically and here oh trading its happening digically. We also use digically Credits card, Debit card.

@adamauwal5461 5 месяцев назад

@@bilyaminuyahaya8386but is every broker using the leverage or commission??? Am using exness broker is it also haram?

@mdamaanahmed6060 2 месяца назад

@@bilyaminuyahaya8386 It's not just leverage, the interest on leverage can be removed by opening a Islamic account. The problem is that some brokers maybe dealing on the price of the asset and no actual transaction is occurring in real life, which is like dealing with derivatives and it's clearly haram. The second problem is, even if the double transaction is happening in real life in background, the broker is adding a condition with the loan amount to buy currency from their platform and give them commission, adding conditions to loan amount is haram in Islam.

@Calvertmarian 8 месяцев назад

In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not strongly reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

@69footballgoats 4 месяца назад

@HassanChoukri-jo7kutroll adverts

@69footballgoats 4 месяца назад

@bahijarhafiritroll advert ‼️

@Sidboudella 3 года назад

I am so happy that i run into this video and this channel. We as muslims need more smart people to be out there sharing knowledge in a perfect manner.

@hatshepsutmaat2354 3 года назад

Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.

@hatshepsutmaat2354 3 года назад

+1^2^1^3^9^1^2^3^7^4^2

@guddusiddiqui7440 2 года назад

Kya aap yea mujhe Hindi mai explain kr skte ho??

@qarinew 2 года назад

Alhamdulillah, I have also paid for a forex course trying to learn it and start earning hugely. But Alhamdulillah, our Sheikh has made it very clear. I have stopped just now, inshallah, may Allah forgive us.

@mirzafaisalbaig6624 Год назад

@@qarinew assalamualaikum sir sir forex is halal or haram according to ur sheikh

@ShareefusMaximus Год назад

I'm not getting the loan to use the service though. All brokers give the loan. I chose the broker BECAUSE of their service. Do you know how much it should cost to place a market order? Is the delivery fee at a restaurant riba? No, you are paying for a service, one they don't offer if you don't buy their food. I'm not trying to argue I'm just telling you that modern life is full of transactions like this. A discount card at a gas station will only be currency at that gas station chain. So if this is your belief... be careful of all such transactions.

@rehn786 Год назад

I'm very confused

@ysamawee 3 года назад

Jazakhallahukhoiron. I've been looking for this explanation in the last 2-3 months. I think I now have the answer, especially someone directly experiences in both fields.

@hassaan334 3 года назад

Probably the best video explaining forex in Islam. Thank you brother JazakAllah. May Allah guide and keep us on the halal path.

@guddusiddiqui7440 2 года назад

Kya aap mujhe yea Hindi mai explain kr skte hai

@lowpricebestproducts334 Год назад

@abdull Maleek forex trading ki halal or haram?

@balochearnings290 Год назад

@@lowpricebestproducts334 halal nhi ha

@inventionstech1 3 года назад

I watched your video and today I closed my forex trading account and I will give all the money to charity. Thank you

@ismailboucha3348 3 года назад

peace

@yfx100 3 года назад

Yes I'm planing to go into forex as well, but I think I'll just give it to charity, the best trade is trade with Allah

@mo9204 3 года назад

The money you made while you was ignorant is halal for you but not any made after you got the message.

@mimnunraa4793 3 года назад

A good step. My fience also did it. Left the fx trading

@SpI3eR123 3 года назад

There are shariah complient brokers. WITH SIGNITURES. research yourself vantage fx if you dont believe me.

@hurairaFurqan 3 года назад

Ibrahim Thank you so much Today i was going to invest in FOREX Trading but then a saw a video and one led to another and i reached here. You explained a lot to me Thank You so much!!!

@osmannaeemrana 2 года назад

So is forex trading halal or Haram?

@azertube77 2 года назад

@@osmannaeemrana it has been summarised in the video

@muhammadsani6853 4 года назад

Assalamu alaikum, maa shaa Allah. The video was indeed timely and educative. May Allah increase you in knowledge. Jazaakumullahu Khair.

@IFGuru 4 года назад

Appreciated

@babydevadiga9838 3 года назад

@@IFGuru forex trading haram or halal clear in one word plZ

@babydevadiga9838 3 года назад

Forex trading haram or halal clear in one word please

@haseebsheikh3794 3 года назад

@@babydevadiga9838 its haram

@SodiqOlaniyi Год назад

I have been having lots of thoughts on this lately l, having learned the skills and started making some money then this occured to me from pious friends. Alhamdulillah, may Allah help me get rid of Forex totally from my mind. Ameen

@xadiq 4 года назад

Excellent video. I used to be involved in forex trading myself years ago but I stopped because something just didn't feel right. This video reiterates the Shariah standing on forex, but unfortunately many people are still attached to it, and unfortunately some of my own relatives are involved and frequently and selectively quote imams who say it is permissible with very weak reasoning because they don't fully understand how it works, but people still follow them because how influential those imams are.

@AK-rb7lb 3 года назад

Halal stock picking ...check it out inshaAllah.....ru-vid.com/show-UCgrsr-hW1F7UmH320z3q-1Q

@AhmedTaha-hp6bx 2 месяца назад

what do you do now? i spent so much time and got good at it now I'm very lost

@khalilozil3122 3 года назад

Masya Allah, how come this channel doesn't have like at least 1 M subs?

@uknasa007 3 года назад

why does it need 1m?

@khalilozil3122 3 года назад

@@uknasa007 its underrated bro

@hatshepsutmaat2354 3 года назад

Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.

@hatshepsutmaat2354 3 года назад

+1^2^1^3^9^1^2^3^7^4^2

@wire786 2 года назад

if you go through a pot and mortar money changer, you will be charged some form of exchange fee. That is not interest, its a service fee. somebody needs to pay for the service to provide the trader a platform to trade, the charts, analysis tools, data, processing those trades on behald of the trader etc. In terms of leverage, as mentioned its a type of loan that you pay back at the end of the trade, together with a service fee or margin fee or so. Now thats debatable as a muslim borrowing money from a conventional bank to buy a house or using a so called islamic bank for the same purpose. You can avoid that part of the business and trade spot with no margin. Money per se is actually created from nothing anyways, just numbers that we use in exchange of goods and services. Im suprised why some shares are considered halal and forex considered haram while they have the same principle, both produced nothing. The shares cannot be used to buy any goods or services until it get sold in the market and translated into cash or currency. Same as pips in the forex workd. Overall the argument is pretty basic and does not look at the fundamental concept of money/currency. However, its good effort from a brother who has a sincere intention to educate us. All the best

@TheMaster2140 3 года назад

One of the best videos thanks for saving me from such a big sin

@uzeyirktk4945 3 года назад

Leverage in future trading in Binance is halal or haram?

@user-kp6rf8nz7y 3 года назад

@@uzeyirktk4945 all I know, leverage is always haram

@uzeyirktk4945 3 года назад

@@user-kp6rf8nz7y but they give leverage to support you in investment

@doubleshah6281 2 года назад

@@uzeyirktk4945 still it is haram since inance charges you interest. avoid at all cost.

@raiderdaytrading 2 года назад

@@doubleshah6281 islamic accounts have no interest bud.

@mohamed200able Год назад

Thank you so much brother ! May Allah SWT reward you for the effort you put in to make this video, which will be useful for many Muslims who are willing to follow Halal way.

@zubeydashabaan668 3 года назад

I was about to start trading today. Thank you my brother.

@blackflags7668 3 года назад

Halal hai ya haram?

@omerfarok8523 3 года назад

@@blackflags7668 haram he bhai

@pshycothugzz3085 4 месяца назад

Yar spot trading b haram ha forex pa?

@oliviaralston1 Год назад

Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.....

@eileengardner5462 Год назад

The thing about been successful is working toward it and not going the other way round

@tracyholian2944 Год назад

It's obvious everyone is doing this online Investment

@ademusiaka7198 Год назад

Investment is the key to achieving success with the current pandemic slowing down so many businesses aww

@vickia.weaver7488 Год назад

Yes I'm a living testimony of Stacy Griffin, her platform has also done a great thing for me

@alinamikelle8688 Год назад

She have changed my life and financial status for the best. All thanks to my aunty who introduced me to her. She is obviously the best, trading with her gives me joy of earning

@Amin-kx8gw 2 года назад

My only issue is how can you compare leverage and loan, as being two similar things. Leverage doesn't fulfill the conditions of a loan, as it is not given to you directly, like a loan. And it doesn't have to be paid back. The broker is simply boosting your investment so that you can make good returns, irrespective of how much you invest. So, I don't see how those two can be equated.

@coachingkusi Год назад

Irrespective though, they still take a fixed cut. Which in itself is interest

@MoKadir96 Год назад

@@coachingkusi what fixed cut? if you talking about the commission. you need to pay the commission for every single, because no one is giving you free lunch. The broker exists to make money, how will exist if it does not even charge for its services.

@MoKadir96 Год назад

I have also seen this issue. the guy says he is a corporate lawyer and does not even differentiate between leverage and loan. brother, if you trade forex and have some knowledge on this topic, i would like to talk to you if you mind. your email?

@coachingkusi Год назад

@@MoKadir96 True, I could be speaking ignorantly. Do you have sources to prove it's halal though, as it seems that's the standpoint you are coming from?

@Muhammadh. Год назад

As my broker only charge for spreads as i know . And spread is the difference between buy price and sell price .

@ZakariaBoualaid 4 месяца назад

I am genuinely interested to understand one point, what if what we call interest, it's the fee of using a platform, which is a service. For example if I have a company that manages money and I have employees, computers and servers that I am running, isn't right to charge some money for transactions through my company? I believe when Islam came, there was no big institutions and money was easy to manage as it was kept by the individual. But this time it's becoming increasingly difficult to manage your own money and that's why use banks. But these banks also pay infrastructure to keep that system running. How can you explain this?

@noushrab 7 дней назад

Beneficial content. Important information through-out the video :)

@The-Humble-Trader Год назад

It is easy to tell us what is halal and haram. The question is in the modern world of "interest-based" banking, what are the options, the common Muslims have to get rich? That is the part where scholars can't talk anymore, because telling someone what is wrong is easy, but giving someone a plan of action is difficult. The truth is you cannot avoid interest in any business unless you chose to live on a fixed salary.

@habibmohammadi9354 10 месяцев назад

No problem bro, when Allah asked you why did you get rich from Haram, you can say the same reasons as well

@blususpect 7 месяцев назад

The problem is in your reasoning, you just want to get rich… A halal modest income is better than having a Haram wealth that was built by waging war against Allah (Interest)

@yasirg6998 10 дней назад

Being or becoming rich is not necessary or mandatory. The desire to become rich, in itself, is problematic. It has many pro's and cons.

@fahimrazakhan1129 3 года назад

Masha Allah...may peace and blessings of Allah SWT be upon you and on all muslim ummah... Great video thank you for enlightened us with your expertise and knowledge.. Appreciate 👍

@dawahmovement1289 5 месяцев назад

I finally came across a simplified explanation about this forex trading. JazaakAllahu khayraa brother. Most muslims try to paint it fine to make it look halal. May Allah continue to guide us

@mikaelrutherford1507 Год назад

If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life...

@rashidjp7882 Год назад

Absolutely. Market success requires emotional maturity

@Rudenz8 Год назад

I trade as a side hustle while keeping my job. I'm tired of trading in losses myself. I've blown my account twice and it's frustrating. I see people making a living out of trading and I want to do the same. Please I need help can someone teach me how to trade?

@Marine40 Год назад

So you guys know her too?... Wow, she made me have my own house and car. She is awesome

@EmilOrlowski370 Год назад

I'm a living testimony of the expert Mrs. Pamela Weaver she has been trading for me for years now

@sandhyap.jadhav4020 Год назад

yeah, she does, and in my opinion, it's a huge one and a chance for you to change your life with trading. I just bought my dream Mercedes from last week's profit. Thanks to her expertise.

@saifuddinkhaled3231 3 года назад

Very well and simply explained. Jzk for enlightening us on this subject. Best video I have watched on this subject.

@Abdullah_hakim 2 года назад

But there's a serious issue here!! Brokers charge it depending on your trading size whether you trade using leverage or not. It's a charge for using their platform. How does it amount to usury?

@Abdullah_hakim Год назад

@@hamza361 pretty much that's what it is. But, my question is - if I were to take a loan from a rent-a-car company on a condition that I would take a car rent only from them for a given time and then they charged me with additional service charges, would it amount to usury as well?

@fatmaali6571 4 месяца назад

Alhamdulillah I came across this video. Shukran jazzakallah kheir brother.

@pinkpanda187 Год назад

May Allah protect us all from the temptation of making easy but haram money

@shaguftaahmad11 3 года назад

Thank you for the detailed explanation. However isn't there a more fundamental argument that since money is not a commodity (but only a medium of exchange), it must not be traded simply for the end goal of making money with no connection to the real economy? The need for foreign exchange transactions by companies that are actually trading goods internationally and by travellers who need local currency in their travel destinations wouldn't classify as trading as they are doing it out of necessity for a real-world transaction to take place.

@ahmaddaji6085 3 года назад

Hello. I am a forex trader for 7 years now. And I think what makes forex trading haram is putting our hard earned money to gamble. I think trading in general or anything that is harmful in terms to our financial, emotional and psychological health is haram. Trading in fact must be treat like other traditional business out there. Not a get-to-rich quick scheme, not a hobby but more of a profession that requires knowledge, practice and experience.

@elyanhamad3469 2 года назад

Since you are trading forex you have knowledge, most ismamic scholars have little knowledge about it. So is everything related to forex true in this video?

@omarpip8641 2 года назад

@@elyanhamad3469 No, most people want to be ignorant and say that islamic scholars know nothing. He explained it clearly and many other scholars did too. Derivatives like forex,options and futures are forbidden cause they're purely made for speculation. While spot trading is actually real trading, so exchanging things for something else. Thats why spot trading stocks, crypto and real currency trading is considered be halal

@abda200 2 года назад

@@omarpip8641 how about kot4 is that a halal broker?

@omarpip8641 2 года назад

@@abda200 no, every online forex cfd broker is haram. Only online forex halal trading is converting currency in paypal with your own money

@abda200 2 года назад

@@omarpip8641 and how do we do that?

@abdisamedali733 7 месяцев назад

I had a feeling that it is not halal in Islam, but when I watch this video I realize the reasoning for it. I am truly grateful for what you have done, jazaka Allah kheyran, bro.

@MahmudHassanMaiyaki-pu2eo 3 месяца назад

Aslm sane scholar, my mind have be so doubtful about this forex that’s why when ever I want to indulge myself in I literally back off without a reason. Watching this video has given me the answer to what has transpired to me in this regard I thank god for emancipating me from the jeopardy of this act. Jazakallahu khair my scholar.

@bwhite1129 2 года назад

Thanks for the video, it's very informative. Binary Option is gambling , that's why you are not to invest with money you are scared of losing because it actually attracts reward and also losses .

@carmenm.lybarger4002 2 года назад

Bitcoin Trading is actually gambling, because the number of my losses is more than that of my wins so I prefer to Mine thou it might be very expensive

@zawadzkibazyli9073 2 года назад

@@carmenm.lybarger4002 Yeah, but with a professional like Mrs Karl Anja, possibility of losing is at minimal when trading so I advise everyone go for Bitcoin Mining option.

@stevemarcel4413 2 года назад

It's easy and very reliable in this time of the virus out break you can work from home and earn from home differently from your salary.

@marvanslavik3384 2 года назад

I thought it were all lies people say on the internet about her and her investment plan until I gave a try. now I can join the chorus to testify boldly.

@palaciotorres4965 2 года назад

I ran into loss four months ago when I tried doing it alone but I think this time I really need an expert to guide me through.

@Khalid-kd6ix 3 года назад

Shukran Jazillan I didn’t had any clue regards to wrong decision I was about to put my savings into.

@hadalsame1069 7 месяцев назад

I bought an online forex trading course, and I was in the middle of the course when I saw this video. Now, my view has changed since i look at everything in a halaal lens.

@K4MR4N1UK123 3 года назад

We didn’t have forex when Islam came. So we must not draw rulings on it. It has element of loss and profits so it’s halal, if it was just profit and no loss then it could have been Haram. You are not selling prohibited items. Every one on here saying they are closing their account after this video are the ones who don’t know how to trade and are loosing money anyway. If you are on about interest you can’t escape interest. You take mortgage out you are paying interest. You take credit card out you are paying interest on it.

@sahilbhat4645 2 года назад

Asalamualikum can you help me out here brother I opened my trading account in exness where i traded with with leverage and made about 1.30usd and then i tried to withdraw the money to find out if they charge in commissions or not but while withdrawing the money they do dont charge any commissions at all… its like i asked my friend for moeny then later gave him back with zero interest and commissions but at the same time im confused about how they are earning then is there something that im missing out here please clear my confusion 🙏

@MB-ez1dy 3 года назад

Excellent video. It takes great skill to simplify complex information as you did. Mashallah 👍👍 well done.

@guddusiddiqui7440 2 года назад

Forex halal and haram?? Halal than type yess Haram than type no

@khalilrashid8942 2 года назад

Ironically everyone here seems to be speculating; on an industry that involves speculation. I haven’t seen one solid ahadith yet; from a scholar saying day trading is haraam, and why.

@Mass998 3 года назад

Shukran for explaining this in details in the Islamic perspective. I open an account and closed 🔐 now. Will never ever do forex trading.

@rajeshmittal6 Год назад

Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.

@AidenLogan Год назад

Congratulations.

@AidenLogan Год назад

I will love to be your friend dear as well as sharing some i dears which you're benefiting.

@rajeshmittal6 Год назад

@@AidenLogan Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert. Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.

@corneliovega8 Год назад

@@rajeshmittal6 I can relate to all you said because I am facing similar thing right now. Congratulations I wish you more success.

@aidaricciarda Год назад

@@rajeshmittal6 Hey how good are your earnings I will like to get some insights into trading thank you.

@angelasamples7263 3 года назад

Sometimes I wonder why individuals always complain of losing in forex,few weeks ago I withdrew a total profit of $7000 and this is my 8th consecutive withdrawal I have made

@benedyktnowicki890 3 года назад

Wow Amazing outcome

@ruthrogers2364 3 года назад

I have been trading offshore I'm still yet to earn my first $100, what strategy do you use please?

@hansonberry1872 3 года назад

Who else thinks this forex is kinda easy but is way to nervous to start

@jaydenberry3509 3 года назад

Growing an account requires dedication and patience

@deanfila2698 3 года назад

Demo accounts are risk free though you can't earn from it

@FS-fv9bh Год назад

If I forex trading by prop firm funded account like MFF or FTMO, They are providing upto 600k capital. Also can apply interest free account. But we should pass their evaluation test with refundable small deposit. If anybody good at trading they can pass the evaluation. Based on in tbis context Forex trading is haram or halal?

@areebmadni3226 Год назад

Hey according to this you can't even buy something from the next store on a loan and pay later because you are buying their product which has also profit for them

@dg1098 2 года назад

man, finally i got a better understanding of what happen inside forex trading. thanks a lot Ibrahim.

@realabzhussain 4 года назад

It’s Haraam. End of. Let’s move on from this. Some people are way too attached to this.

@skeptage5136 4 года назад

How

@jlirving 3 года назад

@@skeptage5136 Most Forex trading is A) Leveraged ridiculously, I'm talking 10-100x so you can only sustain a small downturn before your capital is wiped B) You're not even buying the actual currency. As explained they're usually market makers IE the company just sets a price that's somewhat linked the current market rate but the actual broker sets the rate and you're just buying and selling on their platform against them.

@jakelikey8827 3 года назад

well clearly this isn't for you, enthusiasm and confidence is something required and clearly you do not have either!

@m-doser424 3 года назад

if almost everything is like that and haram, if even the banks cut a certain amount when carrying out a certain withdrawal, and they have a fee called annuality, the only thing you should avoid in forex is interest, margin has no problem because the broker only lends you the amount and not the interest on it

@jlirving 3 года назад

@@m-doser424 true true I woukd just be wary of investing with margin as is. It's extremely risky and not a sound strategy for novice or retail investors.

@yousefyousef2635 9 месяцев назад

Brokerage fees are totally HALAL, as long as you don't play the "overnight interest" game. If you just buy and sell without holding overnight, it's all good in the financial hood and not haram.

@anharmiah7409 3 года назад

I don't understand why people will watch a vidoe which says Forex is Haram , and as they are so into making money, they will come up with millions of excuses not to believe what the guy is saying in the video. If you want to carry on with Forex then go ahead stop making excuses what u shouldn't stop as you believe its Halal

@auroraaudrey6049 3 года назад

You're correct.....Forex is for everyone

@DevaPoints 3 года назад

Thank you, it was very infromative. What about Bitcoin and NextGen currency. Are they permissible according to Islamic Law?

@mohammedsharukh2310 3 года назад

@Islamic Finance Guru Excellent video... Few questions: What if the leverage is 1:1 I know they would still charge (spread), but it wont be as a return for the loan they provide. regarding possession of the currency, when we buy the currency pair, we do have the right to keep until we want Also most of the things nowadays are not completely acquired physically but we do have full control over them I am only referring this for buying and not selling (as short selling is clearly haram) Please advice

@suhailbhyat1577 Год назад

You have wrote down exactly what I was asking buying and making money and 1:1 leverage doesn't that make it halaal

@SaadArshad17 Год назад

Forex leverage is not haram because it doesn’t come with interest. Same thing with short selling there’s no interest in it.

@liveforextrading7917 11 месяцев назад

@@SaadArshad17 Forex products are CFD, meaning contract for difference. referring to Product disclosure statement, you merely speculate on price, there is no exchange of money or asset between buyer and seller. no matter if you use leverage or not.

@calvinmougharbel7666 3 года назад

I’m a fulltime forex trader. It’s not haram lol. It’s TRADING. Interest is haram. You can’t shut down my lifetime career with a 3 minute video. Allah knows best.

@user-ue8dc5mk6i 9 месяцев назад

You’re still pay interests when you use CFDs, leverage, and short positions.

@sabeen7794 Год назад

JazakAllah khairyun kaseer, cannot appreciate enough your content and your channel. Keeping creating content and educating people. 👌🏻💯

@jacksongauthier2012 3 года назад

✌ I'm not Surprise that you guys know him, he good work/services speak for him.

@ismailkurniawan3289 3 года назад

Great content that's why I stick with mr clifford's trading system

@ceryscollier1539 3 года назад

I too have also traded with this same expert trader and I must say his experience on both the forex and binary options trading markets are expectional

@mujursihombing606 3 года назад

@@ceryscollier1539 his strategies are very effective and really efficient to work with at any point in time

@balachandraalnethaji1548 3 года назад

Funny enough I have made a total of $44k in less than three months off his account management schemes and still earning as we speak

@ismailkurniawan3289 3 года назад

Yutzytradingspot

@ismailkurniawan3289 3 года назад

h is ins tag ram pag e

@user-be7vk2rr5k 3 месяца назад

Jazakallahu khairan brother please remember me in your prayers I am victim of this forex trading i was convinced that is not haram but if make me loose lot of money and after all is not halal as well

@GauravSharma-pk7xt Месяц назад

Okay bro, a Genuine question. Look please don't get mad, I genuinely want to know. So you said using leverage without the fee is okay, may I know the fee that you consider interest is it in any ratio in integer with the leveraged amount? Like example 5% of the $10k you borrowed or is it like the amount thats needed for the platform fee? Not a forex trader, I liked the title, it made me curious so no hate, just wanted to know. (Being extra cautious because people on the Internet get offended easily)😅

@muhammadmunir2109 3 года назад

Sir I have a question ? You said that leaverage is haram because the broker also take interest on that amount which he give to you. So what about investing in a shop ? A man give some money to the owner of the shop and then take 20 or 30 percent from it as a partner in that business? Kindly clear about it

@infotreetv1379 3 года назад

In your example there is shop between, but here if they are giving money, than they are getting money by money, there should be ant assets between

@muhammadmunir2109 3 года назад

@@infotreetv1379 thanks 😊 now I will stop forex trading

@abdiazizibrahimfarah6105 3 года назад

@@infotreetv1379 by using the same logic if there is a shop there also in forex there is exchange=shop

@okshuvro2996 2 года назад

leverage and loan are not exactly the same thing

@Boris275 Год назад

Thank you for this informative video brother. You guys should really release content much more frequently. There is a dire need for personal finance content for Muslims. We need a credible knowledgeable team to share knowledge.

@oneibragim1131 5 дней назад

Assalamu Aleykum brother Binarium Halal or Haram ? They pay interest for the transaction, if it is higher, they pay if it is lower, they will not give anything, well, if you put it correctly, please tell me if it is halal or haram?

@moosanagi3405 3 года назад

One of the great video. Thanks for sharing the knowledge and saving us from this Haram deed. Stay blessed. Thanks again

@AK-rb7lb 3 года назад

Halal stock picking ...check it out inshaAllah.....ru-vid.com/show-UCgrsr-hW1F7UmH320z3q-1Q

@babacisse2714 4 года назад

Salam alaykum very clear and now I understand more why it is haram but is there any way to build a brokerage company which is 100% shariah complient because if Muslim don’t try to find a solution for forex we will be left broke

@IFGuru 4 года назад

Thanks for this comment @baba Cisse. My view is that there are many sharia-compliant options for both long-term investing and short-term trading other than forex. These halal options are: Short-term trading: stocks and shares, crypto long-term: everything you can think of For the long-term options in particular check out: www.islamicfinanceguru.com/halal-investments/

@khalid21630 4 года назад

The only way to trade FX in a halal way is to buy the currency outright and exchange the currency literally. Either by going to a money exchanger and buying/selling the currency hand to hand. Or doing the same online via your bank account. Obviously you will need huge amounts of cash to make this profitable as no derivative products are invovled and therefore it is not tenable.

@vbandz2645 3 года назад

www.vantagefx.com/trading/trading-accounts/islamic/ I found a sharia complaint with a certificate from a sheikh of the Sharia Supervisory committee signed by him

@vbandz2645 3 года назад

Also the brother in the video mixed a lot of concepts up especially the Base and Quote Currency bit, to let you know, interest is only involved when the swap fee charge is incurred for overnight positions taken

@omarpip8641 2 года назад

@@vbandz2645 Its fake, i emailed them. That sheikh is not known. They just paid a random person to sign and say that it is halal. A manipulvative way to get muslim customers.

@jiadhimout6169 11 месяцев назад

Bro I think you confused margin with leverage margin and leverage are different things I hope you look into this more and make another video

@cadtech8947 5 месяцев назад

jazakallah khairan for your explanation baarakallah fihi

@rayvee2837 3 года назад

The only haram thing in forex is the interest, thats only like 5% of your earnings (they actually do show you the amount of interest when trading), you can actually decline that interst OR you can get it and donate it to sharity simple as that. Those 80% who lose in forex all of them gamble their money, they don't study the currency before putting the money, you can't just randomly insert your money on a currency there has to be studies and alot of work before doing so, true forex traders when they win, they win alot, but when they lose, they lose few based on their calculations thats not called gambling unlike the others

@omarpip8641 3 года назад

no its haram because you are trading cfd's. And you trade this cause of leverage. This is haram.

@blockbustermovies4895 2 года назад

@@omarpip8641 If we'll trade without leverage then? It will be halal?

@abda200 2 года назад

@@omarpip8641 what if there’s an option to remove the leverage itself?

@drsalmanbutt 4 года назад

I always just thought forex was just a bit more x than threex

@IFGuru 4 года назад

I think this could deserve another video ;)

@larrygarcia9048 4 года назад

I took forex trading as my part time job and I invested with mr Robert platform. I got $8,500 after a week, I wish I had done this 3 years ago . thanks to mr Robert and his team for keeping to his words. Mr Robert is recommended on insta@robertslarrison on IG , I'm so grateful how you boosted my financial status

@charlottebingham4103 4 года назад

Actually trading Forex has not been easy, ever since I started trading I passed through a lot of hard times and losses and I almost lost hope in trading because i was not using accurate strategies, Secondly no professional trader to back me up! Not until I got in contact with Mr Carlos now i earn $36,000 every week with his genius strategies, I really appreciate his good works and can't help but let others know about it. Goto @Carlos_1uptrades on Instergram for help and tutorials to his working strategies to maximize your wining rate.

@ianrochaz6454 4 года назад

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@babydevadiga9838 3 года назад

@@ianrochaz6454 halal or haram clear in one word plz

@raavaz668 3 года назад

Your videos are very informative - keep up the good work. I rarely ever subscribe to youtube channels but your channel is worth subscribing to. May Allah accept.

@user-lb2bj6ye9s Год назад

beautiful! I would like to add that trade on a standard for value measurement is like changing your standard or having a different mass standard to weight on the Mizan.

@ya00007 3 года назад

Forex is based on "speculation" and speculation is gambling. Everything else like leverage/loan is secondary. I know that Liverpool will beat Fullham all day long but it's still speculation/betting because it's not a guaranteed result. This is the same as Forex.

@ecahsikuen2366 2 года назад

agreed. and I will stop, based to ur comment. 😃 thanks

@i.1683 2 года назад

No no that's not true, forex market is never like a bet, with good analysis and strategic trades you can make way far profits than what you think. Message my Expert Trader for more guidance on trading and how to make more profits.

@i.1683 2 года назад

*EmilyCatherineTrading* .

@i.1683 2 года назад

@ *Telegram* ..

@ya00007 2 года назад

@@i.1683 You're completely wrong. it's just like betting. Firstly you don't know whether the price will go up or down for certain even with all the analysis you do. Secondly, it's a zero sum game. Someone has to lose in order for you to make a profit. It's money re distribution not money creation just like gambling. Unlike investing in companies which pay out dividends, profits from trading in Forex come from capital gains i.e. from other traders. NO NEW WEALTH IS BEING CREATED, ONLY THE SAME MONEY BEING DISTRIBUTED LIKE GAMBLING.

@ahmadfaisal9691 3 года назад

I don't see why it's not permissible in Islam to use leverage (to borrow money from a broker) as we are bounded to the broker's t&c's such as commission, fee or spread whatsoever. it's the same story for if we're borrowing money from a bank to buy a house, we're bounded to the bank's term. Can somebody show me the dalil / reference?

@omarpip8641 3 года назад

Its haram because you trade contracts, not real currencies (cfd trading)

@boboiboy9350 Год назад

@@omarpip8641what? Your money in your ewallet is contract too because its not a value on paper note form?

@anassibous7412 2 года назад

Brother I know investing crypto is halal how about trading crypto using leverages and stop loss and take profits

@nafiuaminuyunusa813 11 месяцев назад

My question is, is there broker which found by muslim, and they deal with halal forex

@indhirasarahadam 3 года назад

Thanks for opening my eyes and saving me from a sin that I didnt know was actually a sinful act.

@craigjones5154 3 года назад

It's or haram! Trade with an expert and understand better. I could introduce you to the expert I trade with. If you want

@harunking5418 3 года назад

Utaangamia kwa kukosa maarifa,

@sa3oodyyy965 3 года назад

@@harunking5418 hahahahhaa

@harunking5418 3 года назад

The problem is since u started trading u did not make lots of profits, it all loss sorry for that

@sa3oodyyy965 3 года назад

@@harunking5418 have u made profits?

@brahimbechar7832 4 года назад

Thank you brother, I have listened to some videos by some sheikhs who only made it more confusing because most of them are not well versed in finance. this video made it really clear. Now I know I should just stay away from forex. is there any Islamic investment you would suggest that is halal, jazak Allah khair brother.

@AfricanMamba 3 года назад

Try out real estate but the halal way without any interest based

@FPT84 9 месяцев назад

I've always wondered! Many thanks for explaining

@londonwestham1564 5 дней назад

Trading currency is buying when it's low wait until it goes up then sell it is this haram?

@abdulateefolatunji4761 3 года назад

@Islamic Finance Guru Thanks for this brother. I have one question. If I invest with a company that trades forex at 20%ROI in a month, is it haram?

@letsearnbitcoinbangla8748 3 года назад

I need to know this

@kirbi888 3 года назад

@ seems like to me everyone wants it to be halal so much they will try and find any loophole to make it halal. I get it we all want to wealthy but is it worth it if we go against our religion

@blessphemy 3 года назад

@@kirbi888 its hard because most major bank in any country do forex with out money and then return it as devident. Isnt this almost the same as investing to a company that do forex?

@ultiumlabs4899 2 года назад

yes absolutely. it's HARAM. fixed ROI is impossible in real business, so it's RIBA.

@MuhammedShibin-bb4qm Месяц назад

Fixed rate is haram ..but wht about percentage of profit....,?if someone asks 10000 per month for his money.. its haram .what if someone asks 20 percent of profit..is it haram too..?it depends on the profit huh...maybe it will be high or less.. it depends on profit.. then how it becomes haram?

@dbglorious 3 года назад

I totally agree bro. I practice in demo account for 6 months and then start real trading and ended up losing my 75% of money, and then I Quit. i wish i could see this video before starting trading.

@dbglorious 3 года назад

My suggestion to those new traders stay away form this market.

@thetradefather6769 3 года назад

lol if it was that easy every asain would be sat at home trading

@boboiboy9350 Год назад

If you demo without proper risk management and money management, of corse youll end up losing money. Trading is not just buy or sell. If youre not consistent enough on demo, you shouldnt start a live acc trading

@mjama7017 3 года назад

Jazakhallah khaire, very good topic. Brother what about if you're not doing yourself the transaction, instead your invested in a company that do multipl trading at the end you get 1% daly of your investment. What do u thing about this type of trade. Thx

@faridhassan9448 Год назад

Am so grateful that i landed on this video, thanks a lot for the info..

@samiyahahmed5937 4 года назад

Salaam, currently a trader, with the Islamic accounts you explained there’s no interest however you didn’t explain the other non complaint shariah elements which are present in the Islamic account?

@vbandz2645 3 года назад

Hi, I’m a Muslim Brother that trades myself and this guy has talked with little to no knowledge, he said that for USD/JPY you borrow the other currency when doing the transaction, which is wrong if you understand the concept of base currency and Quote currency, a lot of what this guy talks about is from pure opinion

@omarpip8641 3 года назад

@@vbandz2645 no, you are trading cfd's. You don't buy any currency. You just say if it will go up or down. You don't own any asset. This is gharar money. Cfd trading in general is haram

@imtiazzz. 4 месяца назад

@@omarpip8641 according to the book of fiqh, the buying and selling on non-physical products is permissible if it can be a physical thing, this is accustomed to this day and age

@matteasberger9547 3 года назад

I looked into fees associated with using leverage, you aren't charged for using leverage there's no fee associated with it. Can you follow up with a reply please.

@bilyaminuyahaya2219 3 года назад

Please are you serious ??

@happiness6100 3 года назад

Yes i also looking for it a fees

@duscfx6297 3 года назад

@@bilyaminuyahaya2219 Ive reached contact with an employee at vantagefx, there’s no charge for the extension of leverage. The only fees are for swap and for placing a trade under the brokerage

@nurudinabdkarimajose3035 3 года назад

I think the charges are for you placing a trade and also making use of their platform....something applicable to bank account.. You are charged for transfer, ATM charge and all the rest

@muhdinabdi3129 3 года назад

@@nurudinabdkarimajose3035 that is exactly what the Scholar are saying the problem lies. since leverage is a loan, the loan provider who is your broker cannot benefit from you in any way shape or form even if the charges they charge is to do with your usage of their platform. The logic is, if the loan has go no condition attached to it for example, the condition could be , you can only access the loan via the broker's platform- than its permisable and halal but unfortunetly, no broker will accept this as there is no commercial advantage for them. Literely, they are giving you the leverage to use thier platform and trade through them so that they get benefit from you.

@omerback007 11 месяцев назад

Great explanation, I have questions What if you're using your own money at 1:1 leverage.. I.E you are risking only your own money? Like you said, we have islamic accounts which are SWAP free i.e no interest payments? And someone actually spends a while in forex and takes the time to learn whats required to succeed.. Does forex then become halal if these conditions are met? Furthermore, whats your take on prop firms which use their own firms money and have their own charts and feeds? such as FTMO.. who do use leverage yes but we are essentially working for them instead of trading our money and they are their own broker so the money is not getting loaned.. instead the leverage is out of their own money.. with the SWAP free account ofc.

@rehmanirehmani381 3 года назад

Sir plz tell me in short Should I invest in Forex or not Plz guide me am confused after watching so much video about forex on u tube

@airahdims5552 3 года назад

8:51 - 9:10 he clearly stated there the reasons why forex trading is haram or not permissible in Islam

@zoeyluna1352 3 года назад

As a first time investor I started trading with Mrs Anna Lawerence with just a thousand bucks. my portfolio is worth much more that now within just weeks of trading with her.

@yasirnsm 3 года назад

I have a question and I’ll really appreciate if you answer. These days there is facility where any person can become an investor and can invest on professional forex traders who do all the trading. It is also called copy trading system. If a trader losses the investor also bears loss on other hand if trader gain any profit investor also gains profit. In return investor has to give a small % of profit to trader. Is this type of investment is Halal or Haram? As the invester is not doing trading he/she is only investing.

@Skclearr 2 года назад

money is coming from haram source though

@yasirnsm 2 года назад

@@Skclearr agreed it is prohibited

@MrKashifalich 3 года назад

I remember the days wn ppl saying dat picture on cruency note is haram, camera fone is haram, even in makkah sarif u cant go with camera fone bt with the pasage of time its ok now......

@BrHassan 3 года назад

Yes, that has been the case for many new inventions, including cars, landing on the moon etc... However, when it comes to currency, a method of purchasing and selling, we have definitive hadith, esp. against interest. These are some of the matters that have been made clear. But us human beings, the capitalistic mindset, continue to innovate and produce ideas that may sound "fancy" but at the end is in principle the same old exchange using dubious and dishonest methods. We will be asked about how did we earn our rizq. Did we take a video or took a selfie, I am not sure that is one of the question that we find in hadith yaknow

@berdanatas1284 5 месяцев назад

But prop firms funded acc are simulated acc and they have swap free ones so no interest and its a demo acc so other issues doesn’t apply in here

@AndersUhlin Год назад

Excellent video that makes the matter very clear. I particularly liked what you highlighted re. "Islamic accounts". I have come across one broker with an "Islamic account" that shows a certificate signed by some sheikh called Hassan Qamra, who is supposedly chairman of a Sharia board, but they don't mention where or of what, and googling Hassan Qamra doesn't bring up any results in either English or Arabic. Jazaak Allahu khairan for this video.

@hamza361 Год назад

Yeah there is no record online of who this scholar is

@GeradiusGeras 3 года назад

This is the good content I have ever encountered since I have known forex Market

@hatshepsutmaat2354 3 года назад

Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.

@hatshepsutmaat2354 3 года назад

+1^2^1^3^9^1^2^3^7^4^2

@momnahyasin3126 3 года назад

Thank you soo much. I received an message from a sister who was talking about making money from home on your own terms etc and when i looked into it it was a forex group. I was really considering it due to financial situation however was curious if it was halal or not. Im really glad i came across this video as a lot of the articles online claim its halal but are often written by the 'islamic accounts'

@Mrzk98 2 года назад

Kia Mujy Yh Urdu Mn explian kr degi

@momnahyasin3126 2 года назад

@@Mrzk98 forex halal nahi hai is ki puri tafshesh video me hai ke forex halal kyun nahi or kyun koi log galatfemi rakte h ke halal h

@Mrzk98 2 года назад

Thank🥰 you

@saadatualiyu7324 3 месяца назад

Thank you so much. I learned a lot, may Allah guide us to the right way and bless what we can earn

@no3ams 8 месяцев назад

How would a proper islamic account look like? Can you share some thoughts on what kind of account you would consider having or at least saying it’s no haram?

@syedfayaz7680 3 года назад

There r many flaws in what u said. Please quote Quran and Hadith and the name of the scholar along from which book

@tradewithnora9299 3 года назад

Having a trading plan is essential for every trader. Trading with Mrs Monroe's platform and understanding its unique premise could help you formulate better your own trading plan.

@tradewithnora9299 3 года назад

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@tradewithnora9299 3 года назад

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@evannapieterse7805 3 года назад

Trading with her platform has helped me Recovered my losses from previous years

@markcorbin6731 3 года назад

I have earned about $50000 trading as a beginner with Mrs monroe.

@juliebarns7420 3 года назад

She provides incredible tools and guidance to find the right opportunities in any market you trade

@orchidxprincess 3 года назад

Thank you for your advice brother! I wanted your opinion on whether it is halal to use a Trading 212 investment account?

@mutsdin6073 2 года назад

may Allah accept from you the knowledge you have shared. please Islam is a religion full of solutions. please advise us with something which we could be doing instead of forex