Is online CFD trading of currencies (forex) allowed in Islam where you profit or loss by determining the direction of currency pair from price fluctuations due to real market factors and not by owning the currency pair?
Is online CFD trading of currencies (forex) allowed in Islam where you profit or loss by determining the direction of currency pair from price fluctuations due to real market factors and not by owning the currency pair?
Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 3 years ago
Yes it is allowed to buy and sell currencies online or trade in currency pairs.
'Wassalam.