I'm eternally grateful for your transformative guidance. Your expertise rescued me from overwhelming financial debt with a minimal investment, and I'll enthusiastically share my testimony with the world, attributing my success to your invaluable advice.Thank you Matilda A Garcia .
I have devoted to my financial expansion this year, started with ETFs which has given me 12 percent growth so far but I recently diversified into Forex which has made me over 70k with a 100k capital
It's me Sharmaarke Mohamed Ali from Somaliland. Let me express the true nature of leverage is not a loan in anyway. Leverage is a mechanism that financial community learned from concepts of science and accepted as a means of multiplying the purchasing power of small pocket clients in order them to participate a big market and transact with multimillionaire counterparts. There is no any actual amount of money brokers giving you from their pocket nor you are obliged to pay back. What we give to brokers can only be due to their services and use of their intermediate platforms.
”Multiplaying the purchasing power” adi ayaaba sheegay walal in meesha wax lays amaahinayo, qaabkasta u sharax ama wajikasta haloo dhigo, hadiiba 100$ aan meesha la ibi aan wax ku iibsankaro sidii anoo 10k$ haysta lacag ayaa lagu amaahiyay lakin physical laguuma siinin, madama adi physicial in wax lagu siiyo aan qoraalkaga kusoo dartay. Waxa kale dhan iska ilow, Midda ugu daran waxa weeye diinta islaamka waa xaaraan ganacsiga aan spotka ku salaysnayn forexna markad wax buy leedahay ama sell leedahay wax aad soo iibsanayso oo kugusoo wareegaya, iyo waxaad mrkii hore haysatay oo iska iibinayso midina meesha ma yaalo😊
How to make forex halal.. what step to make it... What to do.. and how to do.. forex trading halal.. everyone giving explanation. No one is giving any solution
Many thanks for this information brother. May allah make ease in your difficulties and make it more easy for you to deliver such good stuff. Jazakallah khair! Love from India.
JazaakAllah Khair brother. Thank you so much for making this video. I am from India and I was very confused about online forex trading. Our local Ulema don't know much about how online forex trading works. And they were unable to give satisfying answers. I prayed to Allah and did Istekhara many times, Now after doing istekhara recently. UA-cam recommended this video to me.
@@veed_official Al-Nu’man ibn Bashir reported: The Messenger of Allah, peace and blessings be upon him, said, “The lawful is clear and the unlawful is clear, and between the two of them are *doubtful matters* about which many people do not know. Thus, he who avoids *doubtful matters* clears himself in regard to his religion and his honor, and he who falls into *doubtful matters* will fall into the unlawful as the shepherd who pastures near a sanctuary, all but grazing therein. Verily, every king has a sanctum and the sanctum of Allah is His prohibitions. Verily, in the body is a piece of flesh which, if sound, the entire body is sound, and if corrupt, the entire body is corrupt. Truly, it is the heart.” Source: Ṣaḥīḥ al-Bukhārī 52, Ṣaḥīḥ Muslim 1599 Grade: Muttafaqun Alayhi (authenticity agreed upon) according to Al-Bukhari and Muslim
@@veed_official it is doubtful as well. Bro it's better to leave these things and focus on real business like how Rasoolullah ﷺ was a good businessman and he had a buisness of clothes. I've tried the stock market but the company is either doing haraam business or even if it is doing halal business it has taken loan so we will be partners in riba. And it is a big sin. I've tried cryptocurrency and forex. I liked to read charts and do analysis. But see the whole picture. It's all virtual. If you find a halal company that is doing halal business and has not taken any loan. Or is not doing anything that is haraam go for it. Become a partner of that company. Because they have physical business going on in the background. But I don't know about any such companies. And remember that this Dunya is temporary and we will return to Allah and on the day of judgement he'll ask us from where did you earn money and where did you spent it. All the wealth belongs to Allah. And he has shown us the right way and the wrong. And in the middle there are some things that are doubtful and according to that hadith that I shared earlier Muhammad ﷺ told us not to indulge in those things that are doubtful so it is better to protect yourself from these things to protect your deen and imaan. Hope this clarifies things. JazaakAllah Khair
Hello . Thank you . I am a Shia Muslim from Iran. I talked with three Shia taqlid authorities and watched about forty videos about forex being halal or haram, and your video presented the best and most comprehensive reasons. May God reward you and be in God's protection. May your end be good and be one of the soldiers of Imam Mahdi INSHA ALLAH ...
You said it from your point of view. However, it is not possible to explain halal or haram in a clear way. I have been doing this for many years and I have been dealing with these a lot. Thank you, good luck to you. :) I like your information.
Thank you so much for your comment! I agree that it may be difficult to explain haram and halal, depending on the subject matter. Some things are crystal clear (for example, the prohibition on consuming pork and alcohol). For the other things, I will do my best inshaAllah to ensure my activities are done with a clear conscience, so that when I'm called back to our Creator, I can answer the questions He will ask. All the best to you, and thank you for your input! Are there any particular topics you'd like to learn about?
AoA , Thanks brother. very impressive and logical explanation. apart from forex, gold and crude oil online trading as CFD with broker is hallal or haram. further it is also speculative, but there are many fundamentals and technical analysis involved in it for confirming direction of move of the assets. waiting for your kind replay, as it is also the next question from all those who are leaving forex after watching your this vedio
It could be halal if u follow Sharia rules: *Do it on spot: choose broker which doesn't take long to open orders. *Do Technical analysis not gamble *Don't use leverage or margin bonus *Learn then leap.
Thank you for explaining it to me in simple terms that's easy to understand. I believe there is more to the halal way of forex trading. I know nothing about it. Love to know more.
Thank you for the good explaination. Forex trader can be both haram and halal in many ways. But it depends on person who enter in this career. If you don't have any knowledge about trading or system it can be a gambling. But if you have a system to follow not guessing when to enter in the market it's totally nothing wrong with it. Allah knows best. Sukran.
@@ModernMuslimFinance hello. i dont think so that we cant trade in currencies. As theres a hadith in sahih muslim 1587. Dealing in currencies is permissible so long as the exchange takes place in the same sitting as the contract is made. It is permissible to sell euros for dollars so long as the exchange takes place in the same sitting as the contract is made. But when the deal is concerning the same type of currency, such as selling one dollar for two dollars, that is not permissible because it is a type of riba. In that case, they should be of equal amounts and the exchange must take place in the same sitting as the contract if the exchange is concerning one type of currency. The evidence for that is the report narrated by ‘Ubaadah ibn al-Saamit (may Allah be pleased with him) who said: The Messenger of Allah (peace and blessings of Allah be upon him) said: “Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, same for same, hand to hand. If the types are different then sell however you like, so long as it is hand to hand.”-(Narrated by Muslim, 1587).
@@salemmulla7763 "...Money is not created to earn money, and doing so, is a transgression… The two kinds of money are means to acquire other things; they are not meant for themselves.” - Ihya’ Ulūm al-Dīn, (Chapter on Patience & Gratefulness)
A contemporary scholar, Mufti Taqi Usmani, mentioned that diverting “money” from its function as a medium of exchange and making it as an object to trade (i.e. making money out of money) is one of the main root causes causing global financial crisis. He also stated the following: To make them [i.e. currencies] a tradable commodity only for earning a profit is also against the basic philosophy of Islamic economics.
@ModernMuslimFinance AsAk 6:50 Plz give a few references of scholarly views that profiting on currencies (medium of exchange) is prohibited ? or Give some references from Sahih Hadith. Jazak ALLAH
Sesuatu perniagaan @ urusan itu haram sekiranya; 1. Ada unsur perjudian / pertaruhan 2. Ada unsur penganiayaan 3. Ada unsur benda yang diperdagangkan haram/ memudaratkan 4. Ada tipu muslihat. Kalau anda trade forex tanpa analisis dan kefahaman, maka anda bertaruh dan berjudi. jadi HARAM. Kalau anda jual signal dan tahu tak semua signal itu menjadi dan tak beritahu pelanggan akan hakikat itu, ada penganiayaan, jadi HARAM. Kalau anda trade forex, dan berniat nak buat perkara maksiat daripada keuntungan itu, maka ianya HARAM. Kalau anda ajak kawan2 main forex, sedangkan dalam diam2 anda berpakat dgn broker tertentu, ada unsur tipu muslihat, maka HARAM hukumnya. Saya kaji agama dan Al-Quran. Satu lagi, tiada dalil mengatakan meniaga benda yang tak nampak itu haram seperti seorang tokoh ilmuan perniagaan Islam kata. Kalau itu betul, maka HARAM jual top up @ data sebab korang tak nampak benda tu.
Well explained. There are two types of Forex market. 1. Non leveraged market where financial institution and banks buy actual foreign currencies. 2. Leveraged and CFD. Meaning there is no foreign currencies , metal, or any assets exist in that market . And traders merely bet on price. Leverage itself is not an issue if the actual loan exist. But in Forex CFD trading , loan is artificial. You open position and place 1% margin , 99% is loan thats is not exist. This couse non shariah transaction. If i Borrow 100k interest free loan from my father and buy Euro in money exchange, then sell it when they price appreciate. It has no issue. Bucause money existed and actual transaction between buyer and seller took place, unlike Forex CFD .
He’s saying that speculation is haram but in my opinion if you study the market with your knowledge you can predict where the market is going sometimes it becomes right and sometimes wrong. But out of nowhere if you predict the price will go at that point then we can say it’s haram and it’s gambling.
In general every business are considered halal in Islam unless it is specially prohibited by the Qur’an or the Hadith... if we are not involve in interest and gambling in forex is it halal?
Hello Najath! you're right in that business is considered halal (assuming we don't deal in forbidden areas and we abide by Islamic contracts). When it comes to Forex TRADING, its deemed impermissible, regardless of whether we're exposed to interest or we gamble. We can only do foreign exchange of currencies when there is a need to use the other currency, whether for business transactions or personal use.
Leverage in Islamic Finance: Leverage can be used in Islamic finance, but it must be structured in a way that avoids interest. For example, Islamic banks often use profit-sharing models like Mudarabah (profit-sharing) and Musharakah (joint venture) where profits and losses are shared between the parties involved. What about this quotation?
Thank you so much for this wonderful video. You kept it very simple so that the information is accessible also to people that are not necessarily finance professionals. Thank you 🙏🏽
Overnight fees(swap)... how is that haram.... its just a fee you pay for holding trades overnight that all ..its not interest.....just like a ommisssion............ Guys.......Islam is simple and let us make it appear as such
Hi, nice content. I agree that forex is haram. However, to justify the reason of haram on speculation and leveraging is just like a tip of iceberg. Technically, forex trading is different with foreign exchange at money exchanger/banks. Forex trading is just a label for CFD instrument using forex value. Due to the nature of CFD, lot of shariah contract principles not met, e.g. no underlying asset. It is haraaam not because leveraging or speculation per se, but due to its nature does not met the tenet/requirements of shariah contract.
Hello! Thanks for the input! You're right! there's a massive difference between Forex Trading and Foreign Currency Exchange. The former is done with the intention to profit from the movements of foreign currencies. The latter is done with the intention of transacting in the currency required. Very good explanation on your part too! What other topics would you like to hear about?
Trading loan is not haraam if its good or have advantage over to consumer or retail traders over the owner, And leverage is good for traders not brokers so there is no way to be haraam
Jazakallahu Khair brother, I enjoyed every bit of the video and I'm interested in the 2 page note on how to Kickstart halal trading. Anticipating your response. Shukran
Assalaamu alaikkum. I have question here regarding stocks. In the hedging method,to protect the stock price crisis in the cash market, can we hedge through futures in selling side ? . At the same time if any profits seen in the futures, can we trade in the futures before closing the cash position.? Is it halal? Two scenario here , first we hedge the position. Second is profiting in futures as well as cash maket .pls clarify.
Forex is harma if you invest in gambling companies or if you borrow money to make gains. The reason 80% of people lose money in trading is becauae they buy more shares than what they are worth.
Jazakallah for the information brother. Agreed that it's haraam. But I have a question. I work as a software Developer, basically a technical guy inside this forecx division of a Investment Bank who is not involved in the actual business. My Job as a developer/technical analyst is to perform software upgrades, provide technical solution, remove vulnerabilities and fix technical issues that affect the business as a whole. Is my job as a technical person haraam ??
No worries about it. Forex includes high leverage with a swap fee(interest). Plus it is traded under contract which is not good at all. You can spot trading in crypto with good technical skills.
Regarding speculation,. I have a clear concept on the demand and supply variation chart and using that, i am buying or selling, and it is true that sometimes it may vary from our plan. Only sometimes. In reality, business is also like this, we have a plan that, this item, this time, this area we have demand and we do business accordingly, but it can also be wrong and thats how business get into loss. I think both are same. Allah knows the best, expecting logical reply
@@ModernMuslimFinance yeah so what about someone who earns his bread and butter already from trading forex? Should he/she stop which will mean no income...
@@asfaltweg From my understanding of the majority views from scholars: 1) the best would be to immediately stop earning a non-halal income. 2) If that isn't possible, then to look for other sources of income, and gradually transition to reducing the non-halal income and increasing the halal income. 3) Finally, if it's something that you cannot give up, then the principle of darurah (necessity) may apply. Darurah can be very subjective in my opinion, and it will differ depending on an individual's situation. It is a deeply personal situation, I can totally relate. I was working in a conventional bank, in the frontline, pushing non-halal financial products to the bank's customers, even my own fellow Muslims. Eventually, I was forced to leave the bank, and my best friend said this: "You've finally left the world of Riba." (At the time, i had no idea what Riba was!) That sparked my interest in Islamic Finance, and alhamdulilah, here I am today! At the point of leaving banking, I was so afraid of being unable to earn an income and support my wife and daughter. I was so scared but what could i do? I just kept moving forward, and I honestly believe that Allah provided me with the opportunities to earn a halal income. Now, 7 years later (with a second child! my son is 3 already!), I look back, and i realise that it was all part of His plan. I understand that your situation will be very tough, and I will include you in my prayers InshaAllah :) Let me know if i can help!
sorry but you did not answer the question properly, day trading in the forex market where people login to there broker account and buy or sell at a price and then they either lose or make profit... is this type of thing halaal or haraam?
Forex trading is Haram if a trader is NOT setting STOP LOSS i.e. if he/she is not doing proper risk management! Leverage is still doubtful since leverage in FX is not increasing our account size but just increasing value of position size i.e. Lot size.
Brother everything has a risk I brought 1 kg sugar for $1 in the morning and in the evening its worth $1.2 will it be haram for me to sell that at the evening obviuosly no way
@@Allaboutislam345 and was this modern world existed 1400 years ago? time changes, non-physical stuffs are also worth changing in this online world.. try adapting the new by the law of Al-Quran.
Hello Missy! Well, in my opinion, if the intention is to trade forex, then I'd advise against it. Forex Trading is deemed impermissible, and we should avoid it.
Hello Pinky! yes, you can leave leverage out of forex! it depends on the platform you're using and if they allow for that. I know a friend who used to do it physically, by visiting various money changers and doing it on the spot! Ultimately, when you do forex, you'll have to be mindful of the intention behind the activity! have you traded forex before?
My dear brother, what if I had a contract with a financing company and we used to share the profits in half(50-50)? I mean, they have the money and I am the effort
Questions...how can we make it halal by just removing the riba' in the forex trading? Firstly, u are even allowed to near it or involve woth it eventhough we can cleanse it.Right?
i can accept other reason but speculation.in forex,cannot trade with speculating market,,it must be followed by technical analysist...if u say so,stock also can be speculation if no knowladge in trading stock market even it is halal in islam....
You're right! speculation in any form is Haram, and when speculation is done in the stock market, then of course its haram too! With regard to stock investing and trading, when accompanied by fundamental and technical analysis, and the stock being analysed is screened to be shariah compliant, then its halal! but Forex trading itself is deemed haram, because it would be trading in a medium of exchange (the currency itself), so even with the right analysis, we're still doing a haram activity (trading/speculating on currencies).
@@unknownunknown_person3444 glad i could help! I'm super thankful that as muslims, we have so many opportunities to grow our money, in the halal way too! being wealthy is encouraged in Islam, as we can give more to charity when we're financially secure inshaAllah :D
Hello Azahar! thanks for your question! Yes, we are leveraging when taking a mortgage/home loan when we're purchasing real estate. In Islam, we're taught to avoid debt as much as possible, although its not forbidden to take on debt. But only if its necessary or unavoidable. In the case of buying a home, most of us are unable to purchase property without a loan, or we'll end up homeless. So thats definitely allowed. But in the case of an investment property, can we avoid taking on additional debt? As a finance professional, I'd even ask: Can we deploy our funds into something that performs better than real estate? (I can think of multiple asset classes that have outperformed real estate over the past 30 years)
There's so many scholarly opinions on the topic out there. I personally take the view that it's non permissible, unless within very specific conditions.
What about if I'm using Islamic account swap free ? In leverage case what about if we both agree and I'm happy with it if I lose my money , in the case of not knowing where the market will go that needs learning if you learn then ur choices might be correct 90% , and losing money is for every business, but u have to learn the skill to keep n save ur money, every doctor can't save A life but he can only do his best , like that we can do our best 😊
The root issue is still using a medium of exchange to profit. We're not allowed to profit from the trading of currencies. Its the asset class that's the issue, not the activity in this case.
@@ModernMuslimFinanceAsAk 6:50 Plz give a few references of scholarly views that profiting on currencies (medium of exchange) is prohibited ? or Give some references from Sahih Hadith. Jazak ALLAH
I'm eternally grateful for your transformative guidance. Your expertise rescued me from overwhelming financial debt with a minimal investment, and I'll enthusiastically share my testimony with the world, attributing my success to your invaluable advice.Thank you Matilda A Garcia .
I was surprised to see Matilda A Garcia name come up - we've been collaborating since meeting at a 2018 conference.
I am new to this, please how can I reach her?
She's on telegram
Garciamatilda 👍
Do you know Matilda A Garcia professionally? She's done wonders for my family and me.
I have devoted to my financial expansion this year, started with ETFs which has given me 12 percent growth so far but I recently diversified into Forex which has made me over 70k with a 100k capital
Wow, I know it is profitable if done well which is a skill that is hard to learn. can you help me get started
Amazing 😮
I will like to start up trading although I don’t have much to start with but I want to give it a try
I can't teach you because I barely know how rather I use an expert for it
Benjamin ravies
That’s his gmal okay
Thank you so much, I just mailed him and expecting his response
Thanks for making this video. Most of our scholars are vague on this topic and you said it well with basic teaching. Jazakallahu kheir
Alhamdulilah! I'm so glad you like it! What other topics would you like to learn?
Nice video mashallah 🎉
I was about to go into trading but now you have completely changed my mind Alhamdullilah
I'm really grateful with the internet for things like this. Thank you sir for your comprehensive explanation. May Allah bless you always!
It's me Sharmaarke Mohamed Ali from Somaliland. Let me express the true nature of leverage is not a loan in anyway. Leverage is a mechanism that financial community learned from concepts of science and accepted as a means of multiplying the purchasing power of small pocket clients in order them to participate a big market and transact with multimillionaire counterparts. There is no any actual amount of money brokers giving you from their pocket nor you are obliged to pay back. What we give to brokers can only be due to their services and use of their intermediate platforms.
Yeah its give me logic
”Multiplaying the purchasing power” adi ayaaba sheegay walal in meesha wax lays amaahinayo, qaabkasta u sharax ama wajikasta haloo dhigo, hadiiba 100$ aan meesha la ibi aan wax ku iibsankaro sidii anoo 10k$ haysta lacag ayaa lagu amaahiyay lakin physical laguuma siinin, madama adi physicial in wax lagu siiyo aan qoraalkaga kusoo dartay.
Waxa kale dhan iska ilow, Midda ugu daran waxa weeye diinta islaamka waa xaaraan ganacsiga aan spotka ku salaysnayn forexna markad wax buy leedahay ama sell leedahay wax aad soo iibsanayso oo kugusoo wareegaya, iyo waxaad mrkii hore haysatay oo iska iibinayso midina meesha ma yaalo😊
@@fowsi-88 wll xta hdii lagu amaahiyay saw maaha in lagaala noqdo dayntii ama aad iska gudo ileen dayn ayaya kugu ahayde marka leverage maaha lacag
Ta kale forex sell markad dhahdo waa sidad u dhahday ma jirto waan khaldameh iso celiya wxygi markaa taasina wll maanay ahayn spot
Ta kale waji kale markan ku eego forex dadka caadiga ahi ma sameeyan wax sarif ah ee wxy maal gashadaan dhaqaale wadan inta uu isbadalayo kolba us30 wxa weeye 30 shirkadood oo ree maraykan ah oo lala narbar dhigay lacagta dollarka markaa taaana markan trade garaynayo ma waxa lay dhahayaa waa inad adigu shirkada leedahay
Leverage is a tool.
Either good or bad fot the trader, depends on knowledge.
How to make forex halal.. what step to make it... What to do.. and how to do.. forex trading halal.. everyone giving explanation. No one is giving any solution
Very interesting your vidéo.
May the ALMIGHTY ALLAH bless you and all moslim around the world.
Beautiful explanation. Jazaakallah 👌
Many thanks for this information brother. May allah make ease in your difficulties and make it more easy for you to deliver such good stuff. Jazakallah khair! Love from India.
Thank you so much! What else would you like to learn?
Abdut crypto whether it is halal or haram .@@ModernMuslimFinance
JazaakAllah Khair brother. Thank you so much for making this video. I am from India and I was very confused about online forex trading.
Our local Ulema don't know much about how online forex trading works. And they were unable to give satisfying answers.
I prayed to Allah and did Istekhara many times, Now after doing istekhara recently. UA-cam recommended this video to me.
So what did u learn from it now???
Halal or haram???
@@veed_official it is doubtful and better to leave
@@veed_official Al-Nu’man ibn Bashir reported: The Messenger of Allah, peace and blessings be upon him, said, “The lawful is clear and the unlawful is clear, and between the two of them are *doubtful matters* about which many people do not know. Thus, he who avoids *doubtful matters* clears himself in regard to his religion and his honor, and he who falls into *doubtful matters* will fall into the unlawful as the shepherd who pastures near a sanctuary, all but grazing therein. Verily, every king has a sanctum and the sanctum of Allah is His prohibitions. Verily, in the body is a piece of flesh which, if sound, the entire body is sound, and if corrupt, the entire body is corrupt. Truly, it is the heart.”
Source: Ṣaḥīḥ al-Bukhārī 52, Ṣaḥīḥ Muslim 1599
Grade: Muttafaqun Alayhi (authenticity agreed upon) according to Al-Bukhari and Muslim
@@AmirKhanIndia thank you so much about the hadiths... And what do you think about cryptocurruncies as well?
I would be happy if you replied.
@@veed_official it is doubtful as well. Bro it's better to leave these things and focus on real business like how Rasoolullah ﷺ was a good businessman and he had a buisness of clothes.
I've tried the stock market but the company is either doing haraam business or even if it is doing halal business it has taken loan so we will be partners in riba. And it is a big sin.
I've tried cryptocurrency and forex. I liked to read charts and do analysis. But see the whole picture. It's all virtual.
If you find a halal company that is doing halal business and has not taken any loan. Or is not doing anything that is haraam go for it. Become a partner of that company. Because they have physical business going on in the background. But I don't know about any such companies.
And remember that this Dunya is temporary and we will return to Allah and on the day of judgement he'll ask us from where did you earn money and where did you spent it.
All the wealth belongs to Allah. And he has shown us the right way and the wrong. And in the middle there are some things that are doubtful and according to that hadith that I shared earlier Muhammad ﷺ told us not to indulge in those things that are doubtful so it is better to protect yourself from these things to protect your deen and imaan.
Hope this clarifies things.
JazaakAllah Khair
Hello . Thank you . I am a Shia Muslim from Iran. I talked with three Shia taqlid authorities and watched about forty videos about forex being halal or haram, and your video presented the best and most comprehensive reasons. May God reward you and be in God's protection. May your end be good and be one of the soldiers of Imam Mahdi INSHA ALLAH ...
so plz tell me is it halal or haram
Ameen ya Rabbi 🙏🙏🙏
You said it from your point of view. However, it is not possible to explain halal or haram in a clear way. I have been doing this for many years and I have been dealing with these a lot. Thank you, good luck to you. :) I like your information.
Thank you so much for your comment!
I agree that it may be difficult to explain haram and halal, depending on the subject matter.
Some things are crystal clear (for example, the prohibition on consuming pork and alcohol).
For the other things, I will do my best inshaAllah to ensure my activities are done with a clear conscience, so that when I'm called back to our Creator, I can answer the questions He will ask.
All the best to you, and thank you for your input! Are there any particular topics you'd like to learn about?
AoA , Thanks brother. very impressive and logical explanation. apart from forex, gold and crude oil online trading as CFD with broker is hallal or haram. further it is also speculative, but there are many fundamentals and technical analysis involved in it for confirming direction of move of the assets. waiting for your kind replay, as it is also the next question from all those who are leaving forex after watching your this vedio
Mashallah Jazakallah khair 🤗
Thank you and keep up the hard work 👏🏽👏🏽👏🏽👏🏽
Thank YOU! we do this just for you!
Sukran, I love a copy of the two page guide.
It could be halal if u follow Sharia rules:
*Do it on spot: choose broker which doesn't take long to open orders.
*Do Technical analysis not gamble
*Don't use leverage or margin bonus
*Learn then leap.
Leverage is not a loan… it can go against you if you are greedy and do not respect to risk management strategy
Thanks.. you speak very clearly
Thank you for explaining it to me in simple terms that's easy to understand. I believe there is more to the halal way of forex trading. I know nothing about it. Love to know more.
May Allah reward you with jannah. Please provide me with the halal investing guide. Thank you.
me too
Thank you making this video and your explanation are comprehensive
SALAM UPON YOU. THANK YOU VERY MUCH FOR YOUR POWERFUL LEARSON. I AM INTRESTED IN YOUR WRITE UP ABOUL HALAL INCOME
Thank you for the good explaination. Forex trader can be both haram and halal in many ways. But it depends on person who enter in this career. If you don't have any knowledge about trading or system it can be a gambling. But if you have a system to follow not guessing when to enter in the market it's totally nothing wrong with it. Allah knows best. Sukran.
It's still Haram, because of the asset class: currencies. We're not allowed to trade in currencies.
@@ModernMuslimFinance hello. i dont think so that we cant trade in currencies. As theres a hadith in sahih muslim 1587. Dealing in currencies is permissible so long as the exchange takes place in the same sitting as the contract is made. It is permissible to sell euros for dollars so long as the exchange takes place in the same sitting as the contract is made. But when the deal is concerning the same type of currency, such as selling one dollar for two dollars, that is not permissible because it is a type of riba. In that case, they should be of equal amounts and the exchange must take place in the same sitting as the contract if the exchange is concerning one type of currency. The evidence for that is the report narrated by ‘Ubaadah ibn al-Saamit (may Allah be pleased with him) who said: The Messenger of Allah (peace and blessings of Allah be upon him) said:
“Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, same for same, hand to hand. If the types are different then sell however you like, so long as it is hand to hand.”-(Narrated by Muslim, 1587).
@@salemmulla7763 currencies are not made to make profit but as a medium of exchanging goods.
@@salemmulla7763 "...Money is not created to earn money, and doing so, is a transgression… The two kinds of money are means to acquire other things; they are not meant for themselves.”
- Ihya’ Ulūm al-Dīn, (Chapter on Patience & Gratefulness)
A contemporary scholar, Mufti Taqi Usmani, mentioned that diverting “money” from its function as a medium of exchange and making it as an object to trade (i.e. making money out of money) is one of the main root causes causing global financial crisis. He also stated the following:
To make them [i.e. currencies] a tradable commodity only for earning a profit is also against the basic philosophy of Islamic economics.
@ModernMuslimFinance AsAk
6:50 Plz give a few references of scholarly views that profiting on currencies (medium of exchange) is prohibited ?
or Give some references from Sahih Hadith.
Jazak ALLAH
Sesuatu perniagaan @ urusan itu haram sekiranya;
1. Ada unsur perjudian / pertaruhan
2. Ada unsur penganiayaan
3. Ada unsur benda yang diperdagangkan haram/ memudaratkan
4. Ada tipu muslihat.
Kalau anda trade forex tanpa analisis dan kefahaman, maka anda bertaruh dan berjudi. jadi HARAM.
Kalau anda jual signal dan tahu tak semua signal itu menjadi dan tak beritahu pelanggan akan hakikat itu, ada penganiayaan, jadi HARAM.
Kalau anda trade forex, dan berniat nak buat perkara maksiat daripada keuntungan itu, maka ianya HARAM.
Kalau anda ajak kawan2 main forex, sedangkan dalam diam2 anda berpakat dgn broker tertentu, ada unsur tipu muslihat, maka HARAM hukumnya.
Saya kaji agama dan Al-Quran.
Satu lagi, tiada dalil mengatakan meniaga benda yang tak nampak itu haram seperti seorang tokoh ilmuan perniagaan Islam kata.
Kalau itu betul, maka HARAM jual top up @ data sebab korang tak nampak benda tu.
Terima Kasih Pak!
Its means harus la kan
Well explained.
There are two types of Forex market.
1. Non leveraged market where financial institution and banks buy actual foreign currencies.
2. Leveraged and CFD. Meaning there is no foreign currencies , metal, or any assets exist in that market . And traders merely bet on price.
Leverage itself is not an issue if the actual loan exist. But in Forex CFD trading , loan is artificial. You open position and place 1% margin , 99% is loan thats is not exist. This couse non shariah transaction.
If i Borrow 100k interest free loan from my father and buy Euro in money exchange, then sell it when they price appreciate. It has no issue. Bucause money existed and actual transaction between buyer and seller took place, unlike Forex CFD .
So what do you suggest?
He’s saying that speculation is haram but in my opinion if you study the market with your knowledge you can predict where the market is going sometimes it becomes right and sometimes wrong. But out of nowhere if you predict the price will go at that point then we can say it’s haram and it’s gambling.
Thanks so much bro for so excellent guidance on this subject.may be Allah bless you.i also want a copy regarding to halal investing, jazakallah khair
In general every business are considered halal in Islam unless it is specially prohibited by the Qur’an or the Hadith... if we are not involve in interest and gambling in forex is it halal?
Hello Najath! you're right in that business is considered halal (assuming we don't deal in forbidden areas and we abide by Islamic contracts). When it comes to Forex TRADING, its deemed impermissible, regardless of whether we're exposed to interest or we gamble. We can only do foreign exchange of currencies when there is a need to use the other currency, whether for business transactions or personal use.
U explain so well, thanks
Thank you so much! what other topics would you like to hear about?
@@ModernMuslimFinance Is there any topic on crypto trading halal or haram?
Shukran akhy, jazaakallahu khayran. Can I have the guide book please
Leverage in Islamic Finance: Leverage can be used in Islamic finance, but it must be structured in a way that avoids interest. For example, Islamic banks often use profit-sharing models like Mudarabah (profit-sharing) and Musharakah (joint venture) where profits and losses are shared between the parties involved. What about this quotation?
8:15 i also trade Stocks and loss money , how is that sounds?😮
Allah has favoured you with such Islamic secular coherence,.may He increase your knowledge and improve your affairs 🎉🎉❤
Jazakallah Khair good stuff👍
Glad you liked it! What else would you like to learn about?
@@ModernMuslimFinance salaam investments in stocks, bonds and gold for complete beginners...like myself JZK👍
How to make halal or what to do to make halal forex.. help us and guide us to do halal trading in forex.. what about trading in gold and oil
@KATHIMORGAN1 is her user name for help
Can we learn technical analysis and fundamental analysis using charts to trade physically with gold and commodities is this halal or haram in Islam??
Yes send me that book, Insha Allah.
I need acopy . Thanks for enlighten ue hv given us
Thank you so much for this wonderful video. You kept it very simple so that the information is accessible also to people that are not necessarily finance professionals. Thank you 🙏🏽
Brother, nicely explained.. Thank you so much for creating a worthwhile content. Please share the Halal/Sharia Guide of investing.
Nobody trades forex without leverage. It defeats the purpose of forex. What are thoughts on Islamic accounts that charge overnight fees vs interest?
@KATHIMORGAN1 is her user name for help
Overnight fees(swap)... how is that haram.... its just a fee you pay for holding trades overnight that all ..its not interest.....just like a ommisssion............ Guys.......Islam is simple and let us make it appear as such
Thanks for your video. It is very informative.
Hi, nice content.
I agree that forex is haram. However, to justify the reason of haram on speculation and leveraging is just like a tip of iceberg.
Technically, forex trading is different with foreign exchange at money exchanger/banks. Forex trading is just a label for CFD instrument using forex value. Due to the nature of CFD, lot of shariah contract principles not met, e.g. no underlying asset. It is haraaam not because leveraging or speculation per se, but due to its nature does not met the tenet/requirements of shariah contract.
Hello! Thanks for the input!
You're right! there's a massive difference between Forex Trading and Foreign Currency Exchange.
The former is done with the intention to profit from the movements of foreign currencies.
The latter is done with the intention of transacting in the currency required.
Very good explanation on your part too! What other topics would you like to hear about?
@@ModernMuslimFinance but when i gbp my broker connect to bank and buying gbp,if i want i also can withdraw from gbp.
But,its not just a contract. brokers connect to bank amd we purchase the currenncies and also we cam withdraw that currency
@@hariskk4916Hi
Which broker are you referring to which gives physical delivery ?
Can you give details plz
Thanks
@@ModernMuslimFinance please what if the brokerage doesn’t take interest for the leverage and you don’t just gamble you thoroughly analyze the market
Trading loan is not haraam if its good or have advantage over to consumer or retail traders over the owner,
And leverage is good for traders not brokers so there is no way to be haraam
Great vidio.....very much clear
Excellent explanation sir
Jazakallahu Khair brother, I enjoyed every bit of the video and I'm interested in the 2 page note on how to Kickstart halal trading. Anticipating your response. Shukran
Alhamdulillah very nice and clear explanation!
Hi. Thanks for your video. It was really helpful! I would like your investment guide please!
Jazak Allah khair brother
Assalaamu alaikkum. I have question here regarding stocks.
In the hedging method,to protect the stock price crisis in the cash market, can we hedge through futures in selling side ? . At the same time if any profits seen in the futures, can we trade in the futures before closing the cash position.? Is it halal?
Two scenario here , first we hedge the position. Second is profiting in futures as well as cash maket .pls clarify.
Forex is harma if you invest in gambling companies or if you borrow money to make gains.
The reason 80% of people lose money in trading is becauae they buy more shares than what they are worth.
Can you please send the halal investment ideas
I’m interested in it thank you 😊
Thank you for your explanation. I need it please send. Jazkhallahu Khair
Most welcome! here's the link to download the e-book!
hib.modernmuslim.finance/
Hi Afiq- Thank you and could you share the two pager halal investing guide
Hi Zairah! You can head to 8halalinvestments.fussfree.finance/ to get your free copy!
@@ModernMuslimFinance Thank you
Jazakallah for the information brother. Agreed that it's haraam. But I have a question. I work as a software Developer, basically a technical guy inside this forecx division of a Investment Bank who is not involved in the actual business. My Job as a developer/technical analyst is to perform software upgrades, provide technical solution, remove vulnerabilities and fix technical issues that affect the business as a whole. Is my job as a technical person haraam ??
No worries about it. Forex includes high leverage with a swap fee(interest). Plus it is traded under contract which is not good at all. You can spot trading in crypto with good technical skills.
Regarding speculation,.
I have a clear concept on the demand and supply variation chart and using that, i am buying or selling, and it is true that sometimes it may vary from our plan. Only sometimes.
In reality, business is also like this, we have a plan that, this item, this time, this area we have demand and we do business accordingly, but it can also be wrong and thats how business get into loss.
I think both are same. Allah knows the best, expecting logical reply
i'm 5 years old Forex Trader and i'm making good money & life with Forex Trading....i'm islam sooo.. and is really hard to quit :(
Hello Lynn! It's not my place to comment on your activities, as i feel that our religion is deeply personal. As long as we're doing our best :D
@@ModernMuslimFinance yeah so what about someone who earns his bread and butter already from trading forex? Should he/she stop which will mean no income...
@@asfaltweg From my understanding of the majority views from scholars:
1) the best would be to immediately stop earning a non-halal income.
2) If that isn't possible, then to look for other sources of income, and gradually transition to reducing the non-halal income and increasing the halal income.
3) Finally, if it's something that you cannot give up, then the principle of darurah (necessity) may apply.
Darurah can be very subjective in my opinion, and it will differ depending on an individual's situation.
It is a deeply personal situation, I can totally relate. I was working in a conventional bank, in the frontline, pushing non-halal financial products to the bank's customers, even my own fellow Muslims.
Eventually, I was forced to leave the bank, and my best friend said this: "You've finally left the world of Riba." (At the time, i had no idea what Riba was!)
That sparked my interest in Islamic Finance, and alhamdulilah, here I am today!
At the point of leaving banking, I was so afraid of being unable to earn an income and support my wife and daughter.
I was so scared but what could i do? I just kept moving forward, and I honestly believe that Allah provided me with the opportunities to earn a halal income.
Now, 7 years later (with a second child! my son is 3 already!), I look back, and i realise that it was all part of His plan.
I understand that your situation will be very tough, and I will include you in my prayers InshaAllah :)
Let me know if i can help!
Say you own a bar selling alcohol making good money, would you continue that business?
sorry but you did not answer the question properly, day trading in the forex market where people login to there broker account and buy or sell at a price and then they either lose or make profit... is this type of thing halaal or haraam?
Assalaamu alaykum brother, thank you for this info. How about Islamic forex trading accounts? Is it halal?
But if we learn about the market then we can say that where the market will go so will it be speculation or not? Please guide.
Salaam alaikum warahmatullah wabaarakatuh jazakallah Khairan for the enlightment can you share the book please
Thank for the advice, can I get the copy you said in the video.
But SIr, regarding leverage in trading , no interest is paid on leverage
Nice video ,I need the ebook on halal investing
Please I use an islamique acount without interest in return no swap can I use a small leverage like 10 and I'm swing trader
No bro leverage is haram
Hi sir, to clarify, Is ExpertOption syariah compliance?
Forex trading is Haram if a trader is NOT setting STOP LOSS i.e. if he/she is not doing proper risk management!
Leverage is still doubtful since leverage in FX is not increasing our account size but just increasing value of position size i.e. Lot size.
Brother everything has a risk I brought 1 kg sugar for $1 in the morning and in the evening its worth $1.2 will it be haram for me to sell that at the evening obviuosly no way
Ofcourse not because its physical product...and trading is different you can,t own its not physical...
@@Allaboutislam345 and was this modern world existed 1400 years ago? time changes, non-physical stuffs are also worth changing in this online world.. try adapting the new by the law of Al-Quran.
Assalomu alaykum dear mentor do you have telegram kanal? May I ask you crypto in my countri is prohibited and how can I trade?
Thanks brother for the input can I get a copy of?
Can i use my capital only without leverage is it well be halal
Thanks.
What is the best and affordable halal investments links?
Please show me all the best and recommend.
If i analysis the forex chart then i do buy and sell, will it be considered as speculation? Please answer somebody.
Thank you for this
Thank YOU! We do it just for you!
Thankfully,I have never across this before.
Thanks so much . How to start the halal investment
What about the FTMO challenge is that halal because my family are going to do it but wanted to find out if it was permissible to do that or not ?
Hello Missy! Well, in my opinion, if the intention is to trade forex, then I'd advise against it. Forex Trading is deemed impermissible, and we should avoid it.
sir assulam alikum .
I want to start halal trading please guide me. it will be a great favor by you, protecting your Muslim brother from Haram
Good example of explanation..
Al Salam Alikoum, I would like to get the document that guiding in halal investment
It's late but I need a copy of the book
Where is the hadith that syas that zero game is forbudden ?
may i know the other ways
and is it possible to leave out the leverage in forex
Hello Pinky!
yes, you can leave leverage out of forex! it depends on the platform you're using and if they allow for that. I know a friend who used to do it physically, by visiting various money changers and doing it on the spot!
Ultimately, when you do forex, you'll have to be mindful of the intention behind the activity! have you traded forex before?
My dear brother, what if I had a contract with a financing company and we used to share the profits in half(50-50)?
I mean, they have the money and I am the effort
@KATHIMORGAN1 is her user name for help
thank you for the simple and direct explanation and taking away the doubt. please send me a copy of the 2 page guide.
Hi! You can get the ebook here: hib.modernmuslim.finance/
Questions...how can we make it halal by just removing the riba' in the forex trading? Firstly, u are even allowed to near it or involve woth it eventhough we can cleanse it.Right?
Very detailed explanation. Please send me your 2 pages guide.
i can accept other reason but speculation.in forex,cannot trade with speculating market,,it must be followed by technical analysist...if u say so,stock also can be speculation if no knowladge in trading stock market even it is halal in islam....
You're right!
speculation in any form is Haram, and when speculation is done in the stock market, then of course its haram too!
With regard to stock investing and trading, when accompanied by fundamental and technical analysis, and the stock being analysed is screened to be shariah compliant, then its halal!
but Forex trading itself is deemed haram, because it would be trading in a medium of exchange (the currency itself), so even with the right analysis, we're still doing a haram activity (trading/speculating on currencies).
@@ModernMuslimFinance ok,i agree with you for this...
@@unknownunknown_person3444 glad i could help! I'm super thankful that as muslims, we have so many opportunities to grow our money, in the halal way too! being wealthy is encouraged in Islam, as we can give more to charity when we're financially secure inshaAllah :D
@@ModernMuslimFinance this one explains details for differentiate between stock and fx trading permissible or not
Is binance spot trading halal? !??
Assalamualaikum… hi sir can I hv ur two page guide for kick start halal investment? Will be highly appreciated. TIA
Thanks Coach Syed. Very informative. Thanks. Excellent sharing
Thank you so much! :D
Plz brother reply my question... it is mentioned 4-5 comments down
@KATHIMORGAN1 is her user name for help
Thank you , for the clear explanation Much appreciated. . How do I access the investing e-book.
Alhamdulilah, I'm so glad you found it valuable! you can download the e-book here: hib.fussfree.finance/
Great Video!
Glad you enjoyed it! What other things would you like to learn about?
@@ModernMuslimFinance How abt differentiation in investing and speculation. How do I avoid speculating in the stock market? Thx in advance!
@@fairozmohamedsalleh9865 Thats fantastic! I'll do a video about it soon :) look out for it!
@@ModernMuslimFinance Thank you. Already subscribed.
I wonder if we leveraging when we buy a property too - esp an investment property?
Hello Azahar! thanks for your question!
Yes, we are leveraging when taking a mortgage/home loan when we're purchasing real estate.
In Islam, we're taught to avoid debt as much as possible, although its not forbidden to take on debt.
But only if its necessary or unavoidable. In the case of buying a home, most of us are unable to purchase property without a loan, or we'll end up homeless. So thats definitely allowed.
But in the case of an investment property, can we avoid taking on additional debt?
As a finance professional, I'd even ask: Can we deploy our funds into something that performs better than real estate?
(I can think of multiple asset classes that have outperformed real estate over the past 30 years)
Still people who called themselves muslim teach people to do forex trading and they qoute from an abal2 ustaz.
There's so many scholarly opinions on the topic out there. I personally take the view that it's non permissible, unless within very specific conditions.
Assalamualaikum pls I need the halal investing idea
What about if I'm using Islamic account swap free ? In leverage case what about if we both agree and I'm happy with it if I lose my money , in the case of not knowing where the market will go that needs learning if you learn then ur choices might be correct 90% , and losing money is for every business, but u have to learn the skill to keep n save ur money, every doctor can't save A life but he can only do his best , like that we can do our best 😊
The root issue is still using a medium of exchange to profit. We're not allowed to profit from the trading of currencies. Its the asset class that's the issue, not the activity in this case.
@@ModernMuslimFinanceAsAk
6:50 Plz give a few references of scholarly views that profiting on currencies (medium of exchange) is prohibited ?
or Give some references from Sahih Hadith.
Jazak ALLAH
Does not crypto & stock includes speculation?
Pls share with me the halal way of investment guide.