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.
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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
Barakha feeh, insha Allah I will let it go as well 🤗😇
May allah give you better sustanance
@@salaudeenbairat1031 May Allah accept our deeds
@@haikalarzuan4400 Aameen. May Allah accept our deeds.
.
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 .
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.
Special the guy who owns yarimuniversity
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.
Is this Haram or not I also locking for this video What they told you is this Haram I don't understand English well
According to this video
@@ZoohiQuiz haram
Search for McCain finance teachable business owners accounting & finance course! This program will literally change your life, especially if you're a business owner!
Me too may allah grant us something better
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 ...
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
Bro is this halal or haram?
Please tell short and sweet
@@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.
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.
You need to go back and learn about Islamic ruling on gambling
Wow. Really needed this. JazakAllahu Khairan
jazacallah khaira Brother, from Mozambique 🇲🇿
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
Another awesome video. Very clear and concise. Great work Almir. Thank you
@@ymian thanks brother 👍
To earn free money on binance is halal or Haram?
@@AlmirColan aselamu alyk werahmetullah
Can u tell the opinion of ulemas about the network marketimg business not the pyramid one
Just network marketing ?
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.
Jazakallah Khaira for the clarification for this special topic
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
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 ..
You are right brother
You are right...
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
Mostly people talk about leverage. Cuz the leverage is the main issue.
@@Meowww12760 Because these people need to update their mind software.
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
MashaAllah. very clear and powerful explanation. thank you very much.
JazakAllah Brother. Thank you for explaining in simplest terms.
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!
جزاكم الله خيرا وبارك الله فيكم اخي ❤
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.
👍
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
Haram is haram... When we died, we have to answer. About our wealth.
correct
May Allah bless you brother Almir. I wanted to start this course
In a simple way ‘forex trading in spot is halal’ but any other form is margins and future which are haram
tell me where is the option of spot trading in forex it is in crypto trading if forex gives spot where is it? explain 😂
@@coretoshicrypto you need to go to school bro! Technology needs “Know-How”
Yes on forex there no spot feature only time frame bases @@coretoshicrypto
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 🤲
Jazakallah khir..hope next video about metal or gold silver and oil..asalamualaikom..😊
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 .
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
@@MohaDahir-jk8uu 🙏🏼
an ICT brother here haha UA-cam algorithm is working good🤝
couldn't agree more brother thank you
akhi i learned trading backtested it is trading forex prop firms haram or what?
there's no skill involved in gambling but forex needs skills. Most people are trading spot forex.
What is spot trading ?
Once you use leverage, it is no longer halal. You cannot trade with money that you do not own
@@aletha18 scholars love to find haram in everything.
@@Sangeer-sd2dn and people of ignorance tend to turn away from the truth. May Allah guide all of us
@@aletha18 people of ignorance tends to create confusion and make life difficult for others...
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.
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.
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
Islam is timeless buddy. what Islam says about exchanging money on the spot is useless? that's quite a bad/dangerous statement to make.
@@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?
@@MOTIvationNobleeNothing is timeless.Its just a facade.
@@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.
Thanks brother ,jazacallah khaira man!
Thanks for this clarification, very clear. This is just speculation on the movements of price trends.
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
Thank you very informative video.
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
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.
JazaKaAllah Khair brother
Stock trading is considered halal by majority of scholars, yet that is also speculative or in your words "gambling".
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.
@@AhmedHassan-yc5fb In stocks also there is nothing physical that one takes possession of, yet it is halal.
This is also how Perpetual Contracts in crypto work, jazzakaAllahu khairan
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
Jazakallahu khayr u saved me from falling into it
More debt = less demand = slow economy/recession.
Masha allah
This is the bitter truth
Please make a video on crpto trading its halal or haram
*what is your oppinion
❤❤❤may Allah bless you and all Muslims all over the world ameen
Very clear and powerful explanation. Thank you
Thank you for such a informative content. جزاک الله خیرا
Very informative. Please also talk about investing in stock market and sukuk.
Please turn off banking, insurance, trading ads on your channel. I have seen one on this video when I played.
Jazakal Allahu Khair
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.
@@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.
Jazakallah sir
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.
jazakallah khair, i am saved by haram earnings
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.
Funny, basically you are saying if you can play roulette and poker etc like a pro and not lose than it is not gambling.
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
What is unclear or disputed here in your opinion? Provide me with specific point and I will try to address it insha'Allah
@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
@@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.
jazakAllahu kheyr brother
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
Thank you brother.
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.
@@naqiabbas8584 forex is definitely not considered halal by the majority. That is clearly false.
No fiqh council in the world has allowed forex trading.
Jazza Akallah, really educative.
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.
What is money? Halal or haram? please make a video on that
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.
@@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.
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.
To earn free money on binance is halal or Haram ?
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!)
@@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).
That's what I was exactly thinking about
@@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.
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..
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
"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.
Good explanation my brother
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.
Indeed it is
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..
@@mohdyunusansari4751 you're also eating haram then.
@@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.
@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
Barak allahu feek.
It's about bid and ask spread!
Haram.
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..
Well😂 ate least it has value
Exactly my point, currency notes are also a contract we don't trade in gold which is a real currency
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
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.
@@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.
T@@AlmirColanthere's no skill involved in gambling but forex needs skills. Most people are trading spot forex.
@@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??
@@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?
Thanks ❤
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.
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
I can see the noor on your face ❤
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.
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.
JazzaaakumuLlahu khayran sir. What about the concept of airdrops farming? Is it allowed to?
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?
Can you please talk about prop firms, or is it also consider same like trading your money?
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.
Is it halal or haram sir ?
@@AlmirColan
Salaam brother amir. What about cryptocurrency trading?
Thank you so much❤
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
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.
Just letting you know, if you’re doing forex. You’re not trading on the real market. Therefore you’re trading a derivative.
@@bogajacksonn 100%
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
@@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,
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
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
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
100% true 🎉🎉🎉🎉
What about trading futures and cryptocurrency or bitcoin
Only spot is permissionable
@@tanaruz Are you a Mufti ??
@@tanaruzYeah answer, are you a Mufti?
Watch the video till the end and watch his video series about cryptocurrency.
Jazakumullahu khairan
Alhamdulillah
What about crypto currency exchange?
Please Answer my Question.
Is it Permissible if I am buying stocks or if I am trading with DMA??
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
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 !
@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
Hello, can you make a video about vape businesses? If they are haram or not...
@@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
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,
Can someone teach me how to win trades in forex?
@AlmirColan
Please does this apply to crypto currency spot trading? Can you kindly make a video on alternative halal trading that's permissible? Thanks.
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.
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.
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
Anyone from Bangladesh?