Is Forex Spot and Gold CFD trading, with no physical ownership or delivery, allowed in Shia Fiqh such as through a non-Muslim broker like Exness?
Is Forex Spot and Gold CFD trading, with no physical ownership or delivery, allowed in Shia Fiqh such as through a non-Muslim broker like Exness?
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 10 months ago
Physical possession is must in selling according to Shariah. Forex Spot and CFD trading do not have possession so it is not a proper selling and buying according to Shariah, but it looks like commitment to buy or sell based on studying the market. Such commitment is permissible despite it is not a sale transaction in Shariah, nor gambling but just commitment to buy or sell under certain conditions after studying the market's movement.
Wassalam.