Is Day Trading Halal?
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- Опубліковано 27 сер 2024
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JzkAllah khair.
Alhamdullilah everything you said is exactly what my plans are. We came to the same conclusion lol alhamdullilah.
I have been studying trading for over a year now and simultaneously studying the permissibility of the different trading products as I really do not want to touch the haraam.
My plan is to trade, only shares/stocks, only going long and not shorting, and not using leverage or margin.
This is an unorthodox approach for day trading but as a muslim it is the only approach we both deem to be permissible so thats the main point and I believe it can still be profitable.
I also agree with what you said about it being a full time job. If I wasnt prepared to treat this as a full time job then uncertainty may be present but because I am giving it that time to build it as a skill, the uncertainty aspect is also taken out of the equation.
May Allah make it easy and grant us success. ameen.
Salem, which broker do you use ?
@@zerwex946 wsalaam, ppro8
@@sulemanomar it's a islamic broker ( halal ) ?
@@zerwex946 there’s no such thing as an Islamic broker. There’s things to stay away from such as interest and then there is halal instruments such as underlying stocks you can trade which yes they allow you to trade
@@sulemanomar the broker that you mentioned, how do they pay if there are no fees
Why is using leveraging in day trading haram ? Because in day trading overnight interest doesn't apply because you are buying and selling the stock within the same day meaning no interest is charged so it's a loan free of interest, so why is it haram ?
Thanks.. very helpful!
JzkAllah khair.
I close my ExpertOption trading after I listen your advice. Luckily I only did the demo, and I find it absolutely and aggressively Speculative when i buy and sell. The Candle stick always not in constant fluctuations, it goes all the way up and goes all the way down and sometimes flat.. as investor u need to ala ala 'Tikam' tengok klau kene.. i find it like judi at first and hold myself not to open real account. After listen to you. I confirmed its haram. Thank you very much. May Allah reward you in akhirat for you advise
Expert option isn't even trading, it's binary option which is gambling, binary option apps normally have their own different charts and candlesticks and ARE NOT considered trading.
How can I earn extra income beside my 8 to 9 Jobs? if trading is mostly haram, then how can I earn extra income?
So If my margin is the same amount to what I've deposited .. I'm not borrowing money from the broker ?
I think you meant equity, equity is your actual phisical money that you deposited, and trading on margin is the act of trading with your money plus borrowed money from the broker in order to execute bigger shares, answering your question you are right, if you take a trade that doesn't exeed the ammount of money that you provide in your account, then it should be halal inchaellah (i'm not an islamic scholar), however the matter is much more complex than this, since you need to account for settlment time, because if the equity hasn't settled after a trade, and you took a trade with the halal ammount that you own, you are still trading on margin, because your money hasn't settled, so you are borrowing from the broker untill your money settles inchaallah.
Where does it say in the Quran that you can not sell what you don’t own?
There is a haadith
@@1shotocewhat’s the Hadith
Where does it say the details of how to pray?
@@sj4695 I’m not a Sunnah denier. You’re not paying attention.
@@Interests1 no worries we under each other brother
but what about derivatives and futures, is that halal?
I am not an islamic scholar but i would avoid them, because in futures you are trading contracts and not the actual commodity, and in derivatives you are not trading the actual financial security but a derivative of it.
my question is that when i buy it i actually pay the amount and when i sell it i get the money. so is this not halal? also base is physical actaully now its online but online doesnt mean its not physically for the scense of business. like having amount in bank and you are dealing online through internet or debit card. i still not get the answer from youtbue though i have watched many videos that i actaully paying the amount. my amount getting deducted from my account and similarly when i sell i can withdraw amount from my account.
I agree with you but i encourage you to search on trade settlment, because when you buy and sell a stock, you actually need to wait for 2 days for the stock to settle when you buy, and when you sell for the money to settle in your account, even if you made the profit if you check the "equity" or "balance" on your account you would find that it's missing the ammount you used to trade and the profit, on a cash account you can't even trade until funds have settled but on a margin account you borrow money from the broker and can trade, i encourage you to search on stock trading fund settlment.
thank youu
if i have fully ownership of an asset than can i do day trading? Plz reply brother
Yes if you Have Own Any currency Or You have any Asset and You Hold it And Sell it when it's High It's Completely Halal Brother 👍
@@filly-fillwhat if you control a bigger amount through leverage? I don’t have a big amount to posses anything, or risk a big amount? But I can invest 1000usd and then use it as a collateral to control 10,000 or 100,000 and do trading. I see most say it’s haram, but I still have doubts, as it seems reasonable to be able to control instead of posses. Imagine, If I get an opportunity to do a trade of usd asset, but I have none, then I use my neighbor exchange office money for the trade, and he get a fee for using the assets, then what is the problem. Basically future trading remarks like so, except I have all the opportunities in front of myself, rather waiting in an office for a customer! Thanks for your feedback back.
What is the difference when you in possession or control a bigger amount of an asset to trade with?
If I understand your question correctly in order for you to sell something u have to have possession of it
Nice 👍.