Is Forex Trading Halal or Haram?

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  • Опубліковано 16 вер 2024
  • Is Forex halal, and what is the Islamic perspective on trading currencies? While currency exchange occurs in various forms, such as spot transactions for institutions or personal use when traveling, we focus on the most prevalent method today: Forex trading through contracts for difference (CFDs).
    If you've seen ads by popular platforms or influencers inviting you to their "get rich quick" courses on learning how to trade Forex, this is the way they are doing it-via contracts for difference. Additionally, you might have noticed that these same platforms often offer Islamic forex trading options that supposedly avoid interest. But the question is: what really happens when you engage in forex trading on these platforms, and are you actually buying anything at all?
    Tune in to understand the nuances and Shariah considerations when it comes to forex trading and whether Islamic options are any better than conventional ones.
    To learn more about Islamic finance and economy and to support MMM in producing future financial literacy videos like this, consider becoming a member of our Muslim Money Matters platform.
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    🌍 Website - www.almircolan...

КОМЕНТАРІ • 508

  • @muhammedshefeeque2112
    @muhammedshefeeque2112 24 дні тому +80

    Today I have finished an online trading course by spending USD 750, and sacrificing one and half month's of my time, 1 hour travelling and studying at nights. However, after watching this video I am convinced that online trading or forex trading with margin or positions is haraam. Brother Almir, Jazak Allah for this video. I have decided that for the sake of Allah, I will not participate in this business which is not permitted. I am so grateful that I watched this video

    • @salaudeenbairat1031
      @salaudeenbairat1031 21 день тому +3

      Barakha feeh, insha Allah I will let it go as well 🤗😇

    • @haikalarzuan4400
      @haikalarzuan4400 17 днів тому +5

      May allah give you better sustanance

    • @muhammedshefeeque2112
      @muhammedshefeeque2112 17 днів тому

      @@salaudeenbairat1031 May Allah accept our deeds

    • @muhammedshefeeque2112
      @muhammedshefeeque2112 17 днів тому

      @@haikalarzuan4400 Aameen. May Allah accept our deeds.

    • @ghamizahir8665
      @ghamizahir8665 16 днів тому +3

      .
      Very good proud of you .
      Start crypto . And trade only halal coins only on spot . Don't do future .
      It is halal and also the same rule applies on forex also applies for crypto .

  • @osamabinstackin3361
    @osamabinstackin3361 Місяць тому +44

    Sadly many brothers, are promoting this form of “trade” to the youth as way to gain financial freedom, whilst also pushing a scholars opinion, just to sell courses and signals.

    • @miyalia8019
      @miyalia8019 Місяць тому

      Special the guy who owns yarimuniversity

  • @salimjuma8877
    @salimjuma8877 Місяць тому +60

    I was really deep in learning this thing but finally Allah just sent this video. I believe this is not coincidence but Allah is using brother Almir Colan to save me.
    May Allah reward you. Jazakallahu-Kheir.

    • @ZoohiQuiz
      @ZoohiQuiz Місяць тому +2

      Is this Haram or not I also locking for this video What they told you is this Haram I don't understand English well

    • @ZoohiQuiz
      @ZoohiQuiz Місяць тому

      According to this video

    • @mishukhann6707
      @mishukhann6707 22 дні тому +1

      @@ZoohiQuiz haram

    • @asadmahmood7874
      @asadmahmood7874 20 днів тому

      Search for McCain finance teachable business owners accounting & finance course! This program will literally change your life, especially if you're a business owner!

    • @rahaa33
      @rahaa33 14 днів тому +1

      Me too may allah grant us something better

  • @ahmedalshalchi
    @ahmedalshalchi Місяць тому +23

    May Allah bless you bro Almir Colan for this lovely simple knock down the tricks of fake digital money business and show what is HALAL and HARAM in ... Please do more of these short briefing of this sector of business ...

  • @nasrullahkhan1411
    @nasrullahkhan1411 Місяць тому +7

    Thanks a lot sir.
    These days i am taking interest in learning about forign exchange trading etc. but apar from that i had had some doubts about fx trading as if it is not sharia compliant. Sir almir colan has simplified and clarified today mashallah.
    Sir you are doing a wonderful job and keep it up.
    Mashallah

    • @iyasahd558
      @iyasahd558 Місяць тому

      Bro is this halal or haram?
      Please tell short and sweet

    • @Apexforexacademy
      @Apexforexacademy Місяць тому

      @@iyasahd558 As per my understanding if you do it in spot, no future no options & do it properly by learning the technical & fundamental analysis. its good, & HALAL. Lets take an example" if you transfer some money to your friend in foreign country to buy some gold(/silver/platinum/foreign currency) for you as the gold there is pure & price is less(good) & keep that gold in with you in your secure wallet. After some time say a year later the price of gold goes up & you call your friend to sell that gold & give me the margin & let the base amount with you as I will let you know what to buy, silver or any other currency after analyzing the market. So its Halal & we do it for centuries, the modern form is Forex. where your friend is replaced by the broker & transactions are done online with your own will. You hold the currency as much as you want & can sell any time you want. you got the full control.

  • @Elhabib2025
    @Elhabib2025 26 днів тому +15

    Forex is not a bet on a decrease or increase. It’s a percentage math calculation. No matter the down or up, an experienced trader always wins. But there is a lot of truth in this video about brokers.

    • @hadithpost1807
      @hadithpost1807 18 днів тому +9

      You need to go back and learn about Islamic ruling on gambling

  • @Unlocos.
    @Unlocos. Місяць тому +6

    Wow. Really needed this. JazakAllahu Khairan

  • @iahaiambcabudo2648
    @iahaiambcabudo2648 Місяць тому +8

    jazacallah khaira Brother, from Mozambique 🇲🇿

  • @FartunAdan-i7v
    @FartunAdan-i7v 6 днів тому +1

    My younger brother just finished an online course about forex trading. After watching this i have to advice him otherwise. Jazakallah kheir for the update

  • @ymian
    @ymian Місяць тому +19

    Another awesome video. Very clear and concise. Great work Almir. Thank you

    • @AlmirColan
      @AlmirColan  Місяць тому

      @@ymian thanks brother 👍

    • @MustafaKhamiss
      @MustafaKhamiss Місяць тому

      To earn free money on binance is halal or Haram?

    • @Hibetellah338
      @Hibetellah338 Місяць тому

      ​@@AlmirColan aselamu alyk werahmetullah
      Can u tell the opinion of ulemas about the network marketimg business not the pyramid one
      Just network marketing ?

  • @HashimKhan-ym4bp
    @HashimKhan-ym4bp Місяць тому +2

    May Allah bless you, you have explained this topic better than most of the Islamic Scholars. I have worked in forex industry almost 3 years ago and then left for the love of Allah. As you rightly said its pure gambling. May allah bless and reward you here and there.

  • @isahmuhammedliahdi9903
    @isahmuhammedliahdi9903 Місяць тому +4

    Jazakallah Khaira for the clarification for this special topic

  • @mr_abubu
    @mr_abubu 12 днів тому +2

    I was about to purchase a $200 course to learn forex trading, and alhamdulilallah god sent this video to my way. I am convinced that forex trading is totally haram. May allah swt bless you brother for sharing this information

  • @Meowww12760
    @Meowww12760 Місяць тому +36

    Respectfully i disagree sir . Most of the people who lose money in forex are greedy people who treat forex as gambling . If you know technical analysis and smart money concept/ ICT , you have better chances of winning as they focus on liquidity and where big banks sell or buy.
    2) Secondly, the forex algorithm is the picture of whats happening to currencies in real life . There is a separate community who trade fundamentals. Lets suppose Iran and Usa war starts .. It will impact basket currencies of USD as well as Oil and Gold . So if its artificial, then how come it moves when something big is happening in world ..
    3 . If stock market are allowed in islamic world ... Then why people have problem with forex ..

    • @abdurrahmanbinuman9399
      @abdurrahmanbinuman9399 Місяць тому +2

      You are right brother

    • @subairthundiyil7641
      @subairthundiyil7641 Місяць тому +1

      You are right...

    • @aletha18
      @aletha18 28 днів тому

      Name 1 fiqh council that has allowed forex trading as halal.
      Simply put, forex trading is dealing in imaginary items. There is no actual currency exchange taking place. The speculation and shifts in pips is the point of forex and that is clearly not allowed in the syariah

    • @ahmadkhairul1181
      @ahmadkhairul1181 25 днів тому +2

      Mostly people talk about leverage. Cuz the leverage is the main issue.

    • @AliBaba-xe5fq
      @AliBaba-xe5fq 25 днів тому

      @@Meowww12760 Because these people need to update their mind software.

  • @subhankhalid8977
    @subhankhalid8977 Місяць тому +3

    Thanks alot dear,
    this is what people what know the difference, such a simplest and kind words to understand, youtube full of two kinds of people 1 who are defending because they are doing it, and Islamic scholars most of the times they also don't know insights of its working that's why it creates ambiguity. But you did a good job
    Jazacallah khaira Sir

  • @naushadtoorab4544
    @naushadtoorab4544 Місяць тому +2

    MashaAllah. very clear and powerful explanation. thank you very much.

  • @faheem.ulhaq.siddiqui
    @faheem.ulhaq.siddiqui Місяць тому +2

    JazakAllah Brother. Thank you for explaining in simplest terms.

  • @HaroonShah00
    @HaroonShah00 День тому

    I have invested 5 months deep into learning Forex and made some future decisions with Forex business, but somewhere in my head, one thing was really disturbing from the start when I came to know that we are not purchasing or selling anything, which means there is not any value rather than just speculation to earn money.
    I watched lots of videos but not any single shiekh said That CFD is halal.
    Alhamdulillah, my concept is clear: my Rizq is not depends on Forex or If I do Forex, then only I will be wealthy, but Allah is raziq. If Allah wants to give me anything, surely Allah will give me any other Halal means!

  • @yusufmalazada7292
    @yusufmalazada7292 Місяць тому +7

    جزاكم الله خيرا وبارك الله فيكم اخي ❤

  • @frettless8456
    @frettless8456 Місяць тому +7

    Love the title, I suggested it! Yes brother you are right. It's the exact same as going to a casino and losing all your money. The house always wins.

    • @AlmirColan
      @AlmirColan  Місяць тому +1

      👍

    • @wisdom532
      @wisdom532 Місяць тому

      if you know what are you doing the house loose and forex is not haram for me but he cheikh explain today the false promise and the scam broker and the idea of get rich quickly without hard work in this industrie today thanks forex is not casino

  • @asiangamers8514
    @asiangamers8514 Місяць тому +23

    Haram is haram... When we died, we have to answer. About our wealth.

  • @egalabdi985
    @egalabdi985 День тому

    May Allah bless you brother Almir. I wanted to start this course

  • @Footballgamer1589
    @Footballgamer1589 Місяць тому +7

    In a simple way ‘forex trading in spot is halal’ but any other form is margins and future which are haram

    • @coretoshicrypto
      @coretoshicrypto 28 днів тому +1

      tell me where is the option of spot trading in forex it is in crypto trading if forex gives spot where is it? explain 😂

    • @Footballgamer1589
      @Footballgamer1589 27 днів тому

      @@coretoshicrypto you need to go to school bro! Technology needs “Know-How”

    • @nzcreations9735
      @nzcreations9735 2 дні тому

      Yes on forex there no spot feature only time frame bases ​@@coretoshicrypto

  • @muhammadisyaku2517
    @muhammadisyaku2517 5 днів тому +1

    I have spending alot of dollers for learning and im still learning and i got some benefit in trading but for the trust im in tiers after watching this video may ALLAH forgive us 🤲

  • @user-moja_crew
    @user-moja_crew Місяць тому +2

    Jazakallah khir..hope next video about metal or gold silver and oil..asalamualaikom..😊

  • @tariqvlogs1385
    @tariqvlogs1385 Місяць тому +15

    4:46 some people enter forex trading as if it’s a casino and gambling like buying a slave some sort off , and some they analyze the markets brother they put hard work into the craft , don’t put a wrong image of trading for the new people , you must know ( fvg , bias , Bos , liquidity sweep , fvg2 , ICT SMC ICC ZO and the triangle strat and sometimes fvg 3 might accure ) if you don’t know any of these then you might went gambling too sir respectfully , are you saying all of these examples of gambling ????? I asked so many sheiks before I start my journey and all of them approved with happiness how come you say it’s gambling ? I disagree with you , example if someone is not a professional doctor he doesn’t know his work and entered a open heart surgery then he’s playing and gambling with the human life’s , but if he’s professional the success rate of the surgery will be higher .

    • @MohaDahir-jk8uu
      @MohaDahir-jk8uu Місяць тому +3

      An absolute explanation brother, Attempting a skill you have no knowledge of is like gambling on the unknown, where the outcome determines whether you'll be rewarded or pay the price later on

    • @tariqvlogs1385
      @tariqvlogs1385 Місяць тому

      @@MohaDahir-jk8uu 🙏🏼

    • @abenamor
      @abenamor 28 днів тому +1

      an ICT brother here haha UA-cam algorithm is working good🤝

    • @TheeAbdi
      @TheeAbdi 27 днів тому

      couldn't agree more brother thank you

    • @Kkkk-np6ol
      @Kkkk-np6ol 23 дні тому

      akhi i learned trading backtested it is trading forex prop firms haram or what?

  • @Sangeer-sd2dn
    @Sangeer-sd2dn Місяць тому +22

    there's no skill involved in gambling but forex needs skills. Most people are trading spot forex.

    • @Yuzerskillz
      @Yuzerskillz Місяць тому

      What is spot trading ?

    • @aletha18
      @aletha18 28 днів тому +1

      Once you use leverage, it is no longer halal. You cannot trade with money that you do not own

    • @Sangeer-sd2dn
      @Sangeer-sd2dn 28 днів тому +1

      @@aletha18 scholars love to find haram in everything.

    • @aletha18
      @aletha18 28 днів тому +6

      @@Sangeer-sd2dn and people of ignorance tend to turn away from the truth. May Allah guide all of us

    • @Sangeer-sd2dn
      @Sangeer-sd2dn 28 днів тому +2

      @@aletha18 people of ignorance tends to create confusion and make life difficult for others...

  • @burakdervisoglu
    @burakdervisoglu 28 днів тому

    Thank you for explanation I learn many things. When my friend said forex is gambling I was arguing with them, I have tried to explain to them is not. But now I understand it.

  • @Eagle57-r6h
    @Eagle57-r6h Місяць тому +23

    First of all in prophet's time there was no internet so the term On the spot is useless now.Secondly possession of a contract is as valuable or real as the physical gold.If you are strictly interpreting those definitions in 21st century you have to follow the reason of the islamic teaching.Not a word to word simple definition.

    • @user-me7kp2pb1j
      @user-me7kp2pb1j Місяць тому +2

      Spot in offline is necessary but in internet useless. You right brother. But forex with less knowledge and practice is dangerous thing. Another necessary thing is patience

    • @MOTIvationNoblee
      @MOTIvationNoblee Місяць тому +2

      Islam is timeless buddy. what Islam says about exchanging money on the spot is useless? that's quite a bad/dangerous statement to make.

    • @3GO_trigo
      @3GO_trigo 29 днів тому

      ​@@MOTIvationNoblee I agree on you that was big thing to tell. But guess if there is virtual place and i am selling or buying with banks on spot? Is it correct than?

    • @Eagle57-r6h
      @Eagle57-r6h 28 днів тому

      ​@@MOTIvationNobleeNothing is timeless.Its just a facade.

    • @Eagle57-r6h
      @Eagle57-r6h 28 днів тому

      ​@@3GO_trigoDo you think someone had even a concept of virtual reality back in 7th century? Without evolution there's no future.And these religious scholars can just yap around and keep pushing towards 7th century.What an idi∆ts.

  • @lokmanbezaz8887
    @lokmanbezaz8887 Місяць тому +3

    Thanks brother ,jazacallah khaira man!

  • @ahmednjidda6182
    @ahmednjidda6182 20 днів тому

    Thanks for this clarification, very clear. This is just speculation on the movements of price trends.

  • @TraderSD
    @TraderSD Місяць тому +6

    with due respect sir every business module has their Halal way and the Haram way of doing it, but you are sharing here just the haram way of doing forex, and declaring whole business module as a Haram Business. I would be looking forward for you to also share the Halal way of Trading forex. Jazaakallahukhaira

  • @padaddadada5417
    @padaddadada5417 Місяць тому +4

    Thank you very informative video.

  • @muslimtraveller1
    @muslimtraveller1 Місяць тому +3

    Barak Allah fik brother! Can I kindly ask you which type of camera do you use? And which editing program? Your videos are awesome allahumma barik

    • @AlmirColan
      @AlmirColan  Місяць тому +1

      I'm not entirely sure, but I think these days, you can achieve the same results with any basic camera, and most editing software offers similar capabilities.

  • @sohailkamran-o3g
    @sohailkamran-o3g Місяць тому +1

    JazaKaAllah Khair brother

  • @BravoMoeez
    @BravoMoeez Місяць тому +1

    Stock trading is considered halal by majority of scholars, yet that is also speculative or in your words "gambling".

    • @AhmedHassan-yc5fb
      @AhmedHassan-yc5fb 28 днів тому +2

      Speculative behaviour can not be avoided even in normal real trades.
      So, speculative trading by itself does not make a trade haram.
      Almir's view, I think, is that forex trading is not taking possession of real goods and that it is purely speculative, gambling and not real like futures and others.
      This is what makes it haram.

    • @BravoMoeez
      @BravoMoeez 28 днів тому

      @@AhmedHassan-yc5fb In stocks also there is nothing physical that one takes possession of, yet it is halal.

  • @ayoubhr77
    @ayoubhr77 Місяць тому

    This is also how Perpetual Contracts in crypto work, jazzakaAllahu khairan

  • @muazsah7969
    @muazsah7969 28 днів тому

    Before reading the surah Rum we cant distinguish the good and the bad in finance, we've seen the last 1400 years of losing against the riba industry because of traditional way of life.We need to find a way in shariah to overcome the riba industry, let's focus on this....Jazekallahu khayr

  • @SeidaAbdulkadir
    @SeidaAbdulkadir 15 днів тому

    Jazakallahu khayr u saved me from falling into it

  • @loftyparagon4499
    @loftyparagon4499 Місяць тому +1

    More debt = less demand = slow economy/recession.

  • @isahahmadsadiqtv
    @isahahmadsadiqtv Місяць тому +1

    Masha allah
    This is the bitter truth

  • @ahomudulla
    @ahomudulla 24 дні тому +3

    Please make a video on crpto trading its halal or haram
    *what is your oppinion

  • @suleimansdadayyabu3463
    @suleimansdadayyabu3463 6 днів тому

    ❤❤❤may Allah bless you and all Muslims all over the world ameen

  • @abdulrahmanmadbouly2567
    @abdulrahmanmadbouly2567 Місяць тому

    Very clear and powerful explanation. Thank you

  • @AbdulFatahShieryar
    @AbdulFatahShieryar Місяць тому +1

    Thank you for such a informative content. جزاک الله خیرا

  • @yuhihe
    @yuhihe Місяць тому +6

    Very informative. Please also talk about investing in stock market and sukuk.

  • @worldstadiumsinfo
    @worldstadiumsinfo 4 дні тому

    Please turn off banking, insurance, trading ads on your channel. I have seen one on this video when I played.

  • @crmd908
    @crmd908 Місяць тому +1

    Jazakal Allahu Khair

  • @shahnawazaziz7806
    @shahnawazaziz7806 2 дні тому

    Amir considers Crypto halal since he himself is into crypto (check his website) but since he doesn't do spot forex it's haram. In my opinion crypto is more on the side of Haram as it has no government backing while currencies do.

    • @AlmirColan
      @AlmirColan  2 дні тому

      @@shahnawazaziz7806 I actually don’t support crypto or Bitcoin at all - I don’t consider it something that we as Muslims should be involved in. Bitcoin 101 as a course explores that idea and concluding episode spells this very clearly.

  • @qeysm1838
    @qeysm1838 8 днів тому

    Jazakallah sir

  • @AliHassan-ir9ct
    @AliHassan-ir9ct 25 днів тому

    In my opinion, gambling is when you are using maximum percentage of your investment and wether you earn or loss big amount no matter what costs you. That is a pure greedy type. And you will end up getting nothing.

  • @belalsays
    @belalsays День тому

    jazakallah khair, i am saved by haram earnings

  • @yousefyousef2635
    @yousefyousef2635 Місяць тому +2

    Well if you don’t know how to trade then it’s a gambling… if you can trade like a pro, then I don’t see any problem…risk management is the key here… Allah knows the best.

    • @ahmadkidwai3141
      @ahmadkidwai3141 19 днів тому +1

      Funny, basically you are saying if you can play roulette and poker etc like a pro and not lose than it is not gambling.

  • @Hollowmovierecaps
    @Hollowmovierecaps 29 днів тому

    Barakallah fiikum akhi but you should create another video clarifying more because some Islamic scholars gave us go ahead on forex trading because some of us first consulted before joining it. Thanks

    • @AlmirColan
      @AlmirColan  29 днів тому +1

      What is unclear or disputed here in your opinion? Provide me with specific point and I will try to address it insha'Allah

    • @Hollowmovierecaps
      @Hollowmovierecaps 29 днів тому

      @AlmirColan When you are trading the market prices are the same as that in reality and it keeps on changing over time and brokers are there to connect us to the financial markets. May Allah provide us with halaal jobs yarrab everything seems upside down

    • @AlmirColan
      @AlmirColan  29 днів тому +2

      @@Hollowmovierecaps So what is the question here? And no, brokers do not connect you with anything and they don’t buy anything for you. Read the terms of contract for difference.

  • @badr3628
    @badr3628 27 днів тому

    jazakAllahu kheyr brother

  • @amed.abraham
    @amed.abraham Місяць тому +1

    Exactyl!, most trading is not owning the asset & only speculating. The only halal trading is that of the "Stock" market if you buy stocks with your cash into your wallet and sell them later but all the other types though they multiply money very fast, they are all buying the right to benefit but not the asset and interest-based with lots of haram things

  • @Dhikrdua
    @Dhikrdua Місяць тому +1

    Thank you brother.

  • @naqiabbas8584
    @naqiabbas8584 Місяць тому +1

    No hating, just wanna say that one shouldn't follow a different scholar on every opinion, if you follow a certain scholar, follow their every judgment. And secondly forex is smth considered halal by the majority since it is not betting or gambling and definitely not even close to a get rich quick scheme. Always do your research on smth and so it of you are certain with yourself. If you doubt smth, don't do it, make sure you sre certain. May Allah guide us all and help us in our efforts to earn money in Halal ways and use it to support our religion. Salamualikum.

    • @aletha18
      @aletha18 28 днів тому

      @@naqiabbas8584 forex is definitely not considered halal by the majority. That is clearly false.
      No fiqh council in the world has allowed forex trading.

  • @adanabdulahi8219
    @adanabdulahi8219 20 днів тому

    Jazza Akallah, really educative.

  • @abenamor
    @abenamor 28 днів тому

    Most of the markets are beeing moved with algorithms/ AI. When you study (for few years) it's not betting anymore. World record on Robbins worldcup is more than 11000% in 1 year, so he was not gambling and winning for 12 consecutive months. But like you said most people think it's a get rich quick plan and they are gambling without beeing ready to put in the effort to learn... so they lose.

  • @hussainahmed8125
    @hussainahmed8125 Місяць тому +4

    What is money? Halal or haram? please make a video on that

    • @user-rs3oy4ug7q
      @user-rs3oy4ug7q Місяць тому

      The majority of currency in circulation (around 95-97%) is created through credit mechanisms, which are built on interest and usury. While some may argue that holding or using this currency is haram due to its connection to interest based transactions our specific situation is different since we are not engaging in interest based activities ourselves. Therefore, we can consider it halal for our purposes. However its important to acknowledge that the origin of this currency is rooted in credit creation, which remains a topic of debate. Nonetheless it's clear that the vast majority of circulating currency is generated through this process.

    • @madripurn123
      @madripurn123 20 днів тому

      @@user-rs3oy4ug7q "Bank notes" aren't real gold, it's upon a contract with you and the government that you having to trade off of item (buying) so do the online payments/card payment, u hold onto a token, not a direct contract with a gold.. So with this logic, it'd also be haram buying stuff with these notes/tokens or whatever.

  • @hkicgh7277
    @hkicgh7277 Місяць тому +4

    Thank you my brother in Islam. However, you didn't discuss about SPOT TRADING, where there's an actual buying and selling of currencies, with the broker just acting as the trader's representative to buy or sell currency pairs. I've made my own research about it but I would love to hear your take on this. May Allah bless you. Jazakallah brother.

    • @MustafaKhamiss
      @MustafaKhamiss Місяць тому

      To earn free money on binance is halal or Haram ?

    • @akhgriz980
      @akhgriz980 Місяць тому +1

      I have yet to find a broker who will facilitate spot trading without any form of ribah (overnight fees, interest on trades, etc.)
      So even if spot trading is permissible (trading through actual buying/ownership of a currency and then exchanging it for another, either through buying or selling, based on technical & fundamental analysis), it's not something we can partake in because of the actual contract between us (retail traders) and the broker.
      (Even if you do your utmost best to avoid these fees, by scalp trading or intraday trading, in order to not hold trades overnight, or for long, it is still Haraam as the contract between you & the broker states ribah [like overnight fees, etc]. So that contract itself is Haraam. Just thought I'd mention as some Muslims use this as an excuse thinking they're clever. Don't be like the yahud!)

    • @hkicgh7277
      @hkicgh7277 Місяць тому

      @@akhgriz980 you sound like you actually know something about trading, so perhaps I'll benefit from you, but one issue at a time brother. I know about overnight fees (also called swap fees, which is of course an interest), but please what's 'interest on trades' and the ect. (Please tell me all Other fees the broker charges).

    • @Ahmed-Hosam-Elrefai
      @Ahmed-Hosam-Elrefai Місяць тому

      That's what I was exactly thinking about

    • @truthseeker4625
      @truthseeker4625 Місяць тому

      @@akhgriz980 There are brokers that facilitate spot trading and do not charge interest for holding overnight positions nor give you interest.
      Also,the brokers or liquidity providers give or take interest for opened overnight positions. If you scalp or restrict to intraday there is no agreement to any interest. Yet going for the swap-free or Islamic account is better. These scenarios I have mentioned here if backed by knowledge cannot be haram to the best of my knowledge if you trade spot market on an STP of ECN brokerage platform. Allaah knows best.

  • @axim-entertainment-dr4ok
    @axim-entertainment-dr4ok 24 дні тому

    Life is full of gambling, u dont know whether your choice is right or wrong..but u still decide one, no choice.. Most of decision u made u will regret it..

  • @The5mScalper
    @The5mScalper 21 день тому

    Forex , Indices , energies , metals etc trading has spot trading and CFD editions.
    Spot trading vs CFD.
    *CFD is contract for difference ,
    You want a contract that represents that asset without me having to actually buy or sell that asset.
    The contract and asset are the issue.
    The contract is not the actual item.
    You’re making a bet from the bench. Rather than being the actual member of the team.
    *Spot trading is HALAL.
    It means you’re involved and your orders are recognized and seen by regulators and have proper documentation to be there.
    Think Fish Markets.
    Real people. Real trading.
    Think Futures markets.
    Real money. Real involment

    • @madripurn123
      @madripurn123 20 днів тому +1

      "Bank notes" aren't real gold, it's upon a contract with you and the government that you having to trade off of item (buying) so do the online payments/card payment, u hold onto a token, not a direct contract with a gold.. So with this logic, it'd also be haram buying stuff with these notes/tokens or whatever.

  • @ahmaddahlan4629
    @ahmaddahlan4629 Місяць тому

    Good explanation my brother

  • @keihansafi190
    @keihansafi190 Місяць тому +6

    So my money in the bank is also contract. I dont have physical ownership of it. It is just a contract between me and bank that i can withdraw my money anytime. So if forex trading is a contract and haram then bank account is also haram.

    • @mohdyunusansari4751
      @mohdyunusansari4751 27 днів тому

      Indeed it is

    • @madripurn123
      @madripurn123 20 днів тому

      well said, by far their logic, the "Bank Notes" must also be haram as we're not holding any physical gold in our hand but just a term of it, a token a contract between people and the government/Banks.. So do the online payments/Card payments.. it'd be haram buying anything with it, applying their logic..

    • @madripurn123
      @madripurn123 20 днів тому

      @@mohdyunusansari4751 you're also eating haram then.

    • @akeemovic
      @akeemovic 15 днів тому +1

      @@madripurn123 This is a foolish way of justifying Haram. With Forex, you put some money expecting more money without selling any product or service (kinda like traditional gambling), on the other hand, you take money (money you already own) to banks so they can keep it for you (with a contract or collecting it back).
      *Non interest based banks.
      Using your debit card for an online transaction is just you collecting and buying things with your money through an easier means.
      The fact that you think online transaction (with your own money) is equivalent Forex trading gives you away as a joker.
      Stop justifying Haram.

    • @Polster-lx5ph
      @Polster-lx5ph 13 днів тому +1

      ​@akeemovic These people will remain until the day of judgement. If only they realized that honor is only with Allah, it would not have been long before Allah would've provided a source of income for them. But the people were quick to that which angered Allah and they are left to it and left to justify it. May Allah guide them

  • @Ahmedali19907
    @Ahmedali19907 Місяць тому +1

    Barak allahu feek.

  • @vihreasijalla
    @vihreasijalla Місяць тому +1

    It's about bid and ask spread!

  • @ubeydruff
    @ubeydruff Місяць тому +7

    Haram.

  • @nobietrader3777
    @nobietrader3777 Місяць тому +1

    Fiat money is basically Haram..but there is no Islam Scholarships want to talk about it.. today fiat money is not referred to Gold anymore..

    • @Yuzerskillz
      @Yuzerskillz Місяць тому

      Well😂 ate least it has value

    • @criptocat8598
      @criptocat8598 9 днів тому

      Exactly my point, currency notes are also a contract we don't trade in gold which is a real currency

  • @user-me7kp2pb1j
    @user-me7kp2pb1j Місяць тому +1

    The only problem in forex trading is cfd. Gambling word is not correct for specialy forex trading expert. For a beginner, it can be possible

    • @AlmirColan
      @AlmirColan  Місяць тому +4

      Forex CFDs are the same as placing bets in a casino - there's no difference. Both involve no ownership or value, just speculation in a zero-sum game. Placing chips on a number is a contract, and a CFD is a contract. Both generate profit if the guess is correct. No difference.

    • @siddiqueahmad6521
      @siddiqueahmad6521 Місяць тому +3

      ​​​@@AlmirColan Agreed that FX CFD is prohibhited Islamically but there is a major difference when you compare it with Gambling & Gambling dens since in FX, trades are taken after doing fundamental & technical analysis & other considerations while in Gambling, bets are placed without any proper due-diligience i.e. pure blind bets.

    • @Sangeer-sd2dn
      @Sangeer-sd2dn Місяць тому

      T​@@AlmirColanthere's no skill involved in gambling but forex needs skills. Most people are trading spot forex.

    • @muhammadhayat1786
      @muhammadhayat1786 28 днів тому

      ​​@@AlmirColan sir you said they generated profits if the guess is correct??. But the profit is not on gues... its calculating that how much you buy and how much the price increased.. example.. if you buy 1000 dollars.. for 2000 other currency... if the dollar price go up.. before 1$ = 2 other currency and then go up 1$= 3 other currency.. then ofcourse you should take 3000 for 1000$.. because price goes up... so how its bet and gues profit??

    • @AliBaba-xe5fq
      @AliBaba-xe5fq 25 днів тому

      @@AlmirColan Banking system is Haraam because that is based on interest/riba. Interest/riba is a major sin in Islam. AlmirColan Do you have a bank account?

  • @rasansoran2518
    @rasansoran2518 3 дні тому

    Thanks ❤

  • @abatauqeer1
    @abatauqeer1 Місяць тому +2

    Forex is not a gambling,
    It's need lots of education to understand technical and fundamental knowledge.
    It's takes years to learn the forex.
    If someone doing it without knowledge he will be a looser.
    Driving a car without learning will end up in a serious accident.

  • @Informed_Citizens
    @Informed_Citizens 8 днів тому

    I wish I could find this video 4 years ago, I lost a lot of money back then, but alhamdulilah I quit it when I confirmed by myself that it was actually gambling not trading. I advise everyone to not enter to the world of trading because it's very difficult to quit, just like major since they are called major, because if you do them once it's very difficult to stop and quit them

  • @blackcap1
    @blackcap1 Місяць тому

    I can see the noor on your face ❤

  • @rizwanlatif6657
    @rizwanlatif6657 25 днів тому

    In other business people borrow inventory nd sell it made profit. Supplier give leverage to retailers and wholeseller so they do business. Same in forex. Do proper research brother. Leverag is not haram. If haram then business of borrowed inventory is also haram.

  • @shamaafzal9555
    @shamaafzal9555 Місяць тому

    Assalamualaikum wa rehmatullah. Could you make a video on bank guarantee from Islamic perspective & rulings. Also implications from the point of vendor that should be taken into consideration while entering such contract. Need guidance. JazakAllahu Khair.

  • @suleimanaminatboluwatife4411
    @suleimanaminatboluwatife4411 8 днів тому

    JazzaaakumuLlahu khayran sir. What about the concept of airdrops farming? Is it allowed to?

  • @abdulhaqq4362
    @abdulhaqq4362 Місяць тому

    Assalaamu Alaykum. Can do a video discussing the so-called "5%" guideline issued by the AAOIFI, as well as some of the other standards they have pertaining to stock trading etc?

  • @Alkhawajasaif
    @Alkhawajasaif Місяць тому +2

    Can you please talk about prop firms, or is it also consider same like trading your money?

    • @AlmirColan
      @AlmirColan  Місяць тому +4

      I believe that almost all of the prop firms are dealing in CFDs or other derivatives with very little actual real-life buying. This makes them essentially betting schemes. They provide users with charts to give the impression that they are conducting analysis, making it feel less like pure gambling on outcomes without any real buying or selling involved.

    • @Csardauna
      @Csardauna 11 днів тому

      Is it halal or haram sir ?
      ​@@AlmirColan

  • @saafy
    @saafy Місяць тому +1

    Salaam brother amir. What about cryptocurrency trading?

  • @SnowGad
    @SnowGad 11 днів тому

    Thank you so much❤

  • @day4deen
    @day4deen Місяць тому +3

    I overall disagree with your opinion on trading. I think most if not all the points you made about trading being haram may be inaccurate or incorrect.
    Your first reason of this being haram is the fact that there is no buying or selling the currencies you are trading. And yes you are correct, but trading isn’t about buying the actual currencies, it’s about buying contracts that are the value of certain currencies at the time of purchase, and attempting to make a profit off of the constant fluctuations of currency values.
    With regards to the ownership of these contracts, yes you do own them. When a trade is opened, a contract is bought, and is present within your account that you have with whichever platform until the contract is sold for a profit/loss. Just because the contract is not a physical thing doesn’t mean that it’s haram. That would bring a lot of other things into question, such as bank accounts or shares in a company. None of these are physical things but they are still halal to own/purchase.
    With regards to the point of owning these contracts being purely a “game of chance”, this is also incorrect. There are traders that open trades randomly without any reasons other than chance for entering those positions, and to those traders I say yes, that is gambling. To properly approach this point we have to understand the definition of gambling. Gambling is the wagering of something of value on a RANDOM EVENT with the intent of winning something else of value, WHERE INSTANCES OF STRATEGY ARE DISCOUNTED. With experienced and professional traders, this is not the case. No trades are placed randomly, there is a bias that is found with whichever market is being traded. A combination of different analyses provide a trader with a bias, therefore having a strategy when attempting to trade the market they have a bias on. It is not gambling, merely an educated guess.
    With regards to your point on a trader trading against the broker vs against other traders, I will also disagree with this. Brokers make money on every trade you make via commission. This amount can vary depending on multiple things like position size, volatility, market conditions etc. When a trade is closed, a certain amount is deducted from your overall balance, regardless of whether that position was profitable or not. That amount is still deducted and taken by the broker.
    With regards to price action being speculative and not actually happening, that is also incorrect. Prices and values of different currencies change every second. There are online charts that show all these movements by the second. These fluctuations are caused by supply and demand for these currencies, and there is always supply and demand for any currency. If there is no supply or demand of a certain currency then it would be worthless and therefore not be a valid currency.
    With regards to who actually makes money in the trading industry, yes brokers make money off of trades you make which was discussed previously and yes, there are people who sell courses, signals, crown investing etc. But this is not an accurate representation of the trading industry as a whole. Most of these “gurus” are just trying to make money off of sales and not trading itself, but it is definitely possible to make money off of trading, and that’s what the trading industry is all about, and this is how it should be represented. For what it actually is, rather than what popular gurus are doing.
    And to address the final point, just because this profession has a high failure rate, doesn’t mean it’s haram. There are plenty of other professions with high failure rates, yet it is still halal such as medicine and sports.
    Jazakallahu Khairan for the video, I look forward to your response. Assalaamu Alaikum wa Rahmatullaahi wa Barakaatu

    • @AlmirColan
      @AlmirColan  Місяць тому +3

      You're mixing up a few concepts here. First of all, shares and CFDs (Contracts for Difference) are fundamentally different. When you buy shares, you're purchasing ownership in the equity of a company - you actually own a piece of that company. If CFDs were similar, you'd own the underlying asset you're speculating on, but that's not the case.
      A CFD is called a "contract" because it's an agreement between two parties, typically you and a broker, to speculate on whether the price of an asset (like a currency) will go up or down. However, you don't own the asset itself. The contract simply states that one party (the broker) will compensate the other (you) if your prediction about the price movement is correct. If you're wrong, you compensate the broker.
      This is what is the essence of betting or gambling. You're speculating on the price movement without actually owning the asset, much like how people bet on horse races or sports outcomes. Even if your speculation is informed by real-world events, it remains a form of gambling because you're still predicting an outcome with no direct stake in the actual asset.
      As for brokers, they make money through various fees and spreads on the transactions, regardless of whether you win or lose your bet.
      Think of it this way: you could have the same type of CFD on horse races with a broker, where whoever predicts the winner gets the money. Would you say that this horse racing contract is an asset, and because you study the horses and their fitness levels, that you're not actually betting? We all know the answer to that rhetorical question.

    • @bogajacksonn
      @bogajacksonn Місяць тому +4

      Just letting you know, if you’re doing forex. You’re not trading on the real market. Therefore you’re trading a derivative.

    • @AlmirColan
      @AlmirColan  Місяць тому +3

      @@bogajacksonn 100%

    • @thetactispro
      @thetactispro Місяць тому

      you are 100% right.most of those who claim are financial expect actually arent. we have to be very careful discussing sensitive issues like tis

    • @bogajacksonn
      @bogajacksonn Місяць тому

      @@thetactispro from every fatwa I’ve seen, they don’t discuss the ins and outs of the markets. As someone who was in forex and was under mentors who had partners with these brokers. I can say; those which explained to me the internal workings behind forex. I can say for certain you’re not even making a trade. I believe the discussion is this, whether it’s a derivative or whether it’s a game that makes you money.
      If you guys want my notes on all the research I’ve gathered on forex permissibility, I can send them. Even recommend me a teacher who says it’s permissible and I’ll explain the inner workings behind the industry. I spent a lot of time fighting the truth,

  • @le_ben_237
    @le_ben_237 Місяць тому +3

    Sheik i suggest you meet a successful trader with years of experience and take a conversation with him before having a conclusion...forex is not gambling and to do it. You need more years of experience if not you will be losing money

  • @philosopherfx
    @philosopherfx Місяць тому

    This is what make me stop trading forex, i just turn to spot trading in crypto space.
    Waht make forex to be haram is
    There are doing base on CFD

  • @mazharali6427
    @mazharali6427 Місяць тому +1

    Assalmualkum sir.. here in Pakistan alot of people are indulging in Treasure NFT can you please explain that in light islam that is it haram or halal
    Thanks

  • @Raveendran2023
    @Raveendran2023 Місяць тому

    100% true 🎉🎉🎉🎉

  • @nailachou1174
    @nailachou1174 Місяць тому +3

    What about trading futures and cryptocurrency or bitcoin

    • @tanaruz
      @tanaruz Місяць тому +1

      Only spot is permissionable

    • @SYEDZARFIENE
      @SYEDZARFIENE Місяць тому +1

      @@tanaruz Are you a Mufti ??

    • @hkicgh7277
      @hkicgh7277 Місяць тому

      ​@@tanaruzYeah answer, are you a Mufti?

    • @AhmedHassan-yc5fb
      @AhmedHassan-yc5fb 28 днів тому

      Watch the video till the end and watch his video series about cryptocurrency.

  • @maher-bn-musa
    @maher-bn-musa 9 днів тому

    Jazakumullahu khairan
    Alhamdulillah
    What about crypto currency exchange?

  • @AmazonWonderFinds
    @AmazonWonderFinds 13 днів тому

    Please Answer my Question.
    Is it Permissible if I am buying stocks or if I am trading with DMA??

  • @82fx-
    @82fx- Місяць тому

    Only haram when you blown multiple accounts because it’s so easily accessible everyone wants to be a trader… they don’t make it lose there money then it’s haram simple

  •  Місяць тому

    jazaklaho hayran for explaining making time effort to educate muslims , I see that you are still a beginner in the topic and I wish people like you never put step into something advanced like trading , if you want something make be practical and make investment with that speed , there are regulated brokers who b book trader and thhose who a book , second thing is there broker who are connected to the market but with the regulations of fca and who with is not. and with all that confusion you guys very quickly in mind to kick the business to haram side because your lack understanding and effort. wish those who cal them selves scholar come to a level where with they say I don't know , rather than making fatwa on everything. second thing is what buy in and buy out ? what is sell in and sell out ? and how are they connected to each other ? why sometimes orders gets cancelled even if you have margin and balance and leverage ? Itaqi Allah when you speak and give fatwa! once I remember a so called scholar said crypto is haram because there computers that will hack them all ???? since we have not A country that is islamic 100% we see every movement towards invasion is haram because we were not in place of the basic developments that why we will be left in the backwards and rest moves on. isn't time you understand for the religion ? what you think you understand is below the basics sheikh UA-cam !

  • @zainabayomide3607
    @zainabayomide3607 4 дні тому

    @AlmirColan but in my country (Nigeria) there are some people called themselves agent, they didn't own a house or shops but they'll meet with the owner having a contract with them that they'll look for someone to rent it and collect some percentage both from the owner of the assets and the person that rent it, is this permissible or it's haram

  • @b.m.12
    @b.m.12 Місяць тому +1

    Hello, can you make a video about vape businesses? If they are haram or not...

    • @AlmirColan
      @AlmirColan  Місяць тому +1

      @@b.m.12 🤦‍♂️It is more problematic than cigarets - toxic oil and amount of cancerous nicotine is off the charts - watch documentary: Big Vape: The Rise and Fall of Juul

  • @ahmednjidda6182
    @ahmednjidda6182 20 днів тому

    My first concern was how one could profit from the value of an asset going down simply because you speculated its gonna go down in a given future time, i knew from there its like gambling. My common sense tells me you make money when the asset you bought appreciates in price compared to how you bought it,

  • @companions.610
    @companions.610 28 днів тому +1

    Can someone teach me how to win trades in forex?

  • @Sum9738
    @Sum9738 Місяць тому +1

    ​​@AlmirColan
    Please does this apply to crypto currency spot trading? Can you kindly make a video on alternative halal trading that's permissible? Thanks.

    • @ValueInvesting47
      @ValueInvesting47 Місяць тому

      First, stock markets. Second, futures market "hedging" on intentions of protecting your assets you own or assets you "confirm wanted to own physically in the future" from price volatility.

  • @thehereafter840
    @thehereafter840 25 днів тому

    لا إله إلا الله والله أكبر وسبحان الله وبحمده استغفر الله ولا حول ولا قوة إلا بالله العلي العظيم هو الأول والآخر والظاهر والباطن يحيي ويميت بيده الخير وهو على كل شيء قدير.

  • @HamzaHaliluHamza
    @HamzaHaliluHamza Місяць тому

    Which one are taking pls some scholars will said is halal while others will said is haram but my understanding is halal because is exchanging of different currencies and there is win and loss

  • @yourDadhere248
    @yourDadhere248 29 днів тому

    Anyone from Bangladesh?