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 2 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.