Day Trading: Halal or Haram?
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- Опубликовано: 10 сен 2024
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Thanks for watching our video: Day Trading: Halal or Haram?
In this video we covered:
Day Trading: Halal or Haram?
Is Day Trading Halal or Haram?
Does Day Trading include any sharia violations?
How can one Day Trade in a halal manner?
Is Margin Trading Halal?
Does Day Trading violate the Islamic rule to not sell what you do not have?
How can people Day Trade if it takes 2-3 days for a Trade to settle?
Can you make a living day trading?
These are perhaps the most common questions I receive from viewers and in this video, I attempt to answer them thoroughly. Day traders look for stocks that move in a predictable way, which are usually traded in one day and are not held overnight. Many scholars say day trading is halal - but there are differing views and it’s an ongoing debate. So let's start the discussion...
Let me know what you think in the comments!
ABOUT OUR CHANNEL
Our channel is about helping people invest to build wealth in a halal way. We cover topics such as halal crypto investing, halal stock investing, and halal product reviews.
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salam@practicalislamicfinance.com
DISCLAIMER
Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your own due diligence before making any investment decisions.
Want to learn how to screen stocks for sharia compliance on your own? Enroll in our course to learn how!
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In basic is it Halal or haram brother
Knowledgeable People Please Respond.... In certain regions of India, a trend has emerged where groups encourage people to invest in trading with a minimum investment of 1 lakh rupees, promising a fixed 10% return each month regardless of profits or losses. Although the group claims to invest in halal stocks, the process lacks transparency, leaving investors uncertain about how the promised returns are generated. The question arises: can this type of trading be considered halal, even though it involves investing in halal stocks?
May Allah save you from all haram and grant you baraka in your life. This video clarified me a lot. Thank you
Im not muslim but i find many things from religion very good to follow even if i dont call me a muslim
Hi Letsbefree
Are you interested to know more about this beautiful religion ?
I will tell you about soul
@@aboabdulla18 yeah i would like to read the koran in my own language someday :) but i also want to read the bible :)
@@letsbefreeletsbefree7183 you can read both, and it's quran👍
i respect you and hope you be a muslim one day, as many muslims don’t know about islam, you have a good heart
May Allah Grant barakah in your wealth and efforts
Thank you brother, to you as well.
@@practicalislamicfinance Sir, In india during day trading brokers allow us to sell the stock first and when day is about to come to an end you must buy it ... During sell money from demat account also deducted... So I want to ask is it permissible to sell the stock and then buy??? Please reply
MashAllah, I like how you make explanation videos about tradings based on islamic laws. Stay motivated and may Allah forgive you for your mistakes.
Salamu Alaykum Omer abi! Sizden Tradingla alakalil biseyler sorabilirmiyim? Australiyadan Ahmet
@@akilic958 buyur canim
Selamun aleyküm, İslamın uygun hisselerin listesi yok mu, bu konuda yardımcı olursanız sevinirim
Alhumdulillah brother..I was margin trading ..thanks to you I'm closing my trading account today..m emotional now..par allah have mercy on me .. Ramadan Kareem mubarak ❤️
Can i do intraday trade with leverages?? Pls explain bro
@@jumahcontracting6946 levrage trade is haram in islam because it involves interest
Dont close your account bro just try another types of trading which are halal like forex trading etc
@@letsunbox8977 i’m sorry brother, but forex trading is indeed haram 😔 all peace and love buddy ✌️
@@luqmanhisham6093 assalamualaikum brother, my question is it halal to trading crypto because I make a lot of research and somehow there's lot of that say it's halal or permissable...and also they say forex also halal now because the things is haram when it's written in holy Qur'an and what was mentioned by Holy Qur'an is gambling and riba they say...
Leverage is not a lone, if it was, then if I lost my whole account I should pay the loan back, but no one does. The second thing is, brokers do not benefit because of the loan (as you name it) they benefit from the spread between two currencies. Don't expect that they will allow you to use the platform for nothing. Just like if you want to rent soccer hole, you have to pay for it to be able to play soccer. We pay to be able to trade, not because of the leverage.
brother i think you are talking about forex, their is a sep video on that. the haram part is the riba in leverage becareful
Jazakallahu khairan, I finally found a video which explains logically and clears my doubts on minimum amount of share holding time
Day trading halal or haram? Mention holding time
Salaam brother, is there a chance of us seeing what companies you have invested in your portfolio?
A weekly update on what you bought and sold is another suggestion I would love too see inshaaAllah
Rakaan posted this in the video description: m1.finance/tDYnHCZW63WY
Common stock and live stock 😂
Now i get it, took me a while to understand as a noob
haahahahahaha
Salaamualekum my brother can we buy or invest on bitcoin.
@@museowe6532 yes you can
@@ehsankhorasani_ brother i have a question which is bothering me alot
For ex: in binance i buy dogecoin (in spot trading) for a cheap price and after hours/ a day the price increases and then i sell it for profit , then after a day i re-buy it again
So is this halal? Yes or no only plz
Brother Salam o alaikom wa rahmatullah
Thank you so much for taking your precious time explaining day trading to us! Including myself, there ton of other brothers who exactly want to know what you have just made available.
Keep up the good work my dear brother and may Allah SWT reward you for explaining it to us.
My pleasure!
@@practicalislamicfinance Salaam brother. Can you please put timestamps if possible???
Salam alikom...
Its haram or halal
Thank you brother. You have the most clear answers I've always been looking for . MashAllah
Right ✅
From investopedia :"As an example of how settlement dates work, let's say that an investor buys shares of Amazon (AMZN) on Monday, Jan. 28, 2019. The broker will debit the investor's account for the total cost of the order immediately after its filled, but the status as a shareholder of Amazon will not be settled in the company's record books for the investor until Wednesday, Jan. 30. At that time, the investor would become a shareholder of record."
Don't trade Amazon it is haram
Use Zoya app to distinguish what stocks is haram or halal! Good luck
@@Dhabaryare thank you very much brother may Allah bless you
It eas just an example from investopedia my self i never trade stocks as many scholars sayed they are not for trading but only holding
I only trade platinum and palladinum Etf s
Thanks a ton for this well researched explanation. Helps to focus my trading more on the basis of Islamic morality and guidance, and reject trading methods that are not in line with the deen. Cheers and salaam to you.
Sir, In india during day trading brokers allow us to sell the stock first and when day is about to come to an end you must buy it ... During sell money from demat account also deducted... So I want to ask is it permissible to sell the stock and then buy??? Please reply
Brother, what is the marketplace for this day trading? Is it on forex ?
@@sayyedahteram8559 thats short selling and is haram. Because u sell what dont own + u pay interest on those shares u borrowed
If we do trading with cash account and all analysis, neither scalping nor riba is included is forex permissible then ???
Robinhood and many other trading platforms do not charge interest for trading with unsettled fund
Assalamualaikum brother.
I have a few questions.
1. Can I apply day trading to crypto?
2. How many days or the shortest period should I consider holding my trade position so it's compliance with sharia law.
Assalamu alaykum brother, I have the same question. Did you find out if crypto day time trading is acceptable in Islam?
@@digitalconsultinguz4360 did you get answer for it?
Same question?
Hello is short term trading halal can I buy today and sell in a week for profit?
If you're living in those country where crypto is legal to trade then you can do trade intraday in same ways according to this video.
Does the same thing applies to day trading of cryptocurrencies
What happens if I don't wait in a cash account for the money to be there, and I buy another stock? Am I borrowing money which has interest or no interest will be accrued, or does the account show I'm getting the funds soon so I can use it, resulting in no interest? I'm basically use my pending money, money that is on its way to me to buy more stock to sell again. Please help me to see why this is wrong.
(I do agree any interest of any kind/amount is wrong.)
What about the speculation aspect ?
Is speculation based on TECHNICAL ANALYSIS halal ?
every trade or investment is speculation. the real concern is volatility and managing risk
This is a very informative video and clears my confusion on the islamic perspective of cash and margin accounts. May Allah SWT bless you and us with his guidance throughout.
Amazing stuff! I wish this was available to me a few months or even years ago, but either way, I am happy I stumbled upon your channel now 😂
Thank you so much, and Walaikum Assalam 😁
Hi currently i m practising daytrading. I do make till now about 200 dollars a day by trading in currency. I analyse the currency for weeks and start buying and then sell. But of course i never no for sure if it wil go up. I do buy based on analysing previous months weeks days etc. A big part is based on trust worldwide of how a currency will develope. But still someyimes it feels like gambling and i dont know if i want to do it anymore. Can someone advise me...
Just watched the whole vid and read all the comments. Thanks Rakaan for the valuable input.
helal or haram?
but what if the broker does not have commission costs? What is your opinion on using leverage? because the broker doesn't really benefit on the trade except on spreads but spreads is calculated in the trade regardless if you use leverage or not. And the loan actually benefits the two parties because some assets you can't trade because they are just too expensive and your broker wants you to trade that is how they make money.
Dude mashallah man!!! I love your video's Keep it up!!!
Great video, with best knowledge and very well explained, now I have no confusion about halal and haram thank you so much
Salam,
What is the market place for this day trading? Is day reading being discussed here possible on forex ? If yes , how ? Will it be halal?
I took to comments several times to criticize but every time you answered my critisim already. Good video. Risk and rewards is the key.
Day trading is halal. Many scholars give fatwa without even knowing how it works or having any experience in the stock market. How is it gambling when you have a stop loss and know how much you will lose at most?
you convinced me bro, thanks.
Does this mean there is no margin given for CNC (cash and carry) trades ?? (Specific to Indian traders) Found this on the margin policy page of zerodha
At Zerodha we provide no leverage when you are executing delivery trades which mean that you if you want to buy Rs 1lk of stock as CNC, you will need this Rs 1lk in your trading account and similarly if you want to sell Rs 1lk of shares with product type as CNC, you will need these shares in your demat account mapped to your trading account.
Assalamualikom: is it allowed to day trade such as France 40, Italy 40, USD/EUR, USD/GBP, USA30, USA500?
subhanallah, very important video... jazakallah khairan
the question was simple, the answer should have just been straight yes or no. if you did need to say anything extra it should have to been
'To get to a level of being able to make living off day trading you must learn and practise. dont quite your job until you are comfortable with the way you trade. until you fully understand your risk management. finally make a plan.'
If swing trading is halal, then there's no reason for day trading to be Haram. It's the same thing on a different time frame. Both requires technical analysis and money management. Without the two, you can win a lot or lose it all in both.
@@MosestheMuslim bro yes I understand and agree with you. I just don't understand why poeple make pointless videos and go off topic.
@@asadags3 so day trading is halal? (No leverage, ribah, ...)
We are using trading 212, the moment we sell the share money is immediately available to buy other shares .is this a loan extended by the broker or it's a cash money? quite confused!
Check the settlement time for your broker
@@practicalislamicfinance salam alikom Rakaan. Great work. I use Trading 212 too and to be honest couldn't really understand how it works. All the buying/selling happen immediately and you can use the money mtiple times as you wish. However their T&Cs explain settlement takes t+2 or t+3.. also mentions they may settle transactions on a "delivery versus payment basis" but I have jo idea what it means.
I use their ISA invest account (NON CFD account, non margin). All trades happen (over the counter).. is this halal? Is this similar to what you describe in the video or completely different?
If you could shed some light on this I would be grateful as a lot of us in UK/EU use this app and other 0 commission apps.
Thanks
Motaz
@@motazinenglish8190 would love an answer on this, many of us are in a similar position, if we have no intention of cashing the money out once we sell a share it is available to us immediately so we can re invest as cashing it out and then putting it back in to invest does not make sense to me
This is a good question. I would like to provide an answer to this based on my research.
Firstly Trading212 is a Cash Account NOT a Margin Account. So as per this video it falls into the first category which Rakaan explained. It does not provide a Margin or any Interest type payment for you to buy stocks on sale of your stock.
The way you get your money instantly on sale of your stocks is by a process called Delivery versus payment. The process involves the simultaneous delivery of all documents necessary to give effect to a transfer of securities in exchange for the receipt of the stipulated payment amount.
So before the actual settlement takes places which is T+2 or T+3, you get your money. It is like you giving your car documents to the buyer of the car and taking all the money from the seller but telling the seller you can collect the car in T+2 or T+3 days. In this was the buyer is happy that he got the full money and the seller has the car documents to prove that the car is his now.
I don't see anything wrong in this type of transaction.
Rest Allah knows best.
In india, same here in zerodha app... money is available immediately after sale... eventhough actual settlement take pkace after t+2 days. But the brocker doesnt charge interest for this amount available... is it haram.?
Salam bro. Thanks for all you do.
My question is: if it's a crypto currency like BTC instead of stock, is it halal to day trade it (since the funds settles same day)?
No issue if spot trading
Thank you for the explanation. I was looking for this. Jazaka'Allahu khayran.
I bought the course of Zed Monopoly, an Irish guy. I studied it and I was wondering about all these questions. I see most of them getting answered on your channel. Thank you.
Which course?
Guys i didnt understand well so is it haram or halal to day trade
How did u do so far? I wanted to buy the course too
My Allah bless this brother and ascend home to The Firdous. Awesome explanation
so i am not allowed to trade with the proccedes or the entire amount that I invested in that trade like am I allowed to trade with the 1000$ but not the 20$?
You know the practical aspects very well , so your evidences on physical & digiral possession is great.
Broker here in HK. Cash is available as soon as shares sold and we dont have to buy on margin. That's ok then.
Does day trading of cryptocurrency is halaal ..?
Assalamoalikum brother. I wanted to know if we are allowed to do day trading with all this criteria...and we do it intentionally with our analysis, so would it be considered as speculation? As Dr. Zakir Naik has said its a speculation, even after fulfilling all the criteria for the permissiblity.. please help me brother, because its not only me... my entire team and startup is based on this.
JAZAKALLAH
I have a cash account on T212, when I sell shares the money is back in my t212 account within 1 minute & the shares i sold are gone i no longer own them so can i then use that money again as it is with me
This is great. Always wondered if there was any issue day trading crypto. Margin trading obvs interest involved so not allowed
Assalamualaikum Is cryptocurrency halal or haraam .If i buy a coin and sell the same coin on the same day as the coin prize has raised is it permissible? please answer this question sir.
It's halal
jazak Allah khair brother, the video was really helpful
6:48 what does "sale to settle" really means?
when i sell xyz stock for a $1000,then i had cash on that platform $1000
and I'm not allowed to buy stock unless i withdraw to my local bank and i buy stock and paid it using my local bank???
in Wealthsimple I believe they allow you to use the cash proceeds after selling a stock on the same day towards buying more shares immediately and dont expect anything in return. Is this true?
Daytrading means (1)buy and sell in Same day or (2) buy and sell in Short duration? If (2) they is Minimum duration defined?
So if I do day trading after every 3 days then I would be halal right
Where my cash settlement is done and I’m only choosing halal stocks verified by experts
@practical islamic finance asalmaleikum sorry bro can i use technical analysis in my trading ...is it halal?
So key take away from this is you can't re-invest the money you make from a sale until the amount has settled, but you can buy and then sell a stock on the same day.
Thanks a lot for lesson, it is short but to the point, barakallah 😊
Alhamdulillah you covered everything
thank you
Assalamualaikum Brother
I want to ask one question
If I buy a particular number of stocks today and sell it on the same day or the other day but the Seller of the stocks is unable to deliver the stocks to me because those may be Shorted stocks and stock may have hit upper circuit. So in this scenario he sold me stocks which he didn't have and so did I in turn sold stocks which I didn't have for which I will be fined by the regulatory.
Is there a way of knowing that the stocks that I've got are not Shorted stocks?
N is it still permissable to sell stocks before I actually own it and have it with me?
Salam, what are your thoughts on Prosperitrade they only do halal stocks. Prosperitrade they did DD on EXAS with an oncologist as a special guest.
JAZAKALLAH brother. May ALLAH bless you ❤
Jazakallah.
I left trading futures after watching your videos.
But i want to ask about spot trading in binance.
In spot trading , i buy a coin and it is immediately transfered in my account. And after selling the coin on same day , i get the usdt on the same day and i can sell or use those usdt on the very same day.
So is it halal ?
Sir, In india during day trading brokers allow us to sell the stock first and when day is about to come to an end you must buy it ... During sell money from demat account also deducted... So I want to ask is it permissible to sell the stock and then buy??? Please reply
Assalamualaikum brothr....
What u mean by saying - ALLOW SALE TO SETTLE BEFORE YOU USE PROCEEDS FROM THE SALE ?
U mean....I must transfr amount of 1020$ to my bank account...and thn turn again to my tradin account and thn only I can BUY or SELL whole 1020$ ....am I right ?
I must get my profit in hands and thn put again to make profit .... Aftr profit I must take it into my hands(bank ac ) and deposit to Tradin ac and thn use my profit+old balance in next trading....am I right brother ?
Forex Day Trading using Auto Trading is giving great results...!! Alhumdulilah.
Great message!!
Is forex Auto trading halal ??
Assalamu alaykum. Is long trading halal? I have already understood that short is haram, but what about long? Who can answer my question, please?
Hello , if trade weekly/ monthly normally i follow support resistence in daily frame . I buy low then close when it will go in support. To go to in support need 10 days or 15 days then i close.
So this method is haram or halal..?
Assalamualaikum brother. Thank you for this video
I have a question.
So I just transferred all of my assets from Robinhood to Webull and made it into a margin account. Im allowed to trade as long as I use the cash I already have and not borrow on margin? Please and thank you!
Also can I have your thoughts on options trading?
Hi brother, salam, thsnk u for your video very insightful as always. I do have a question , i use etoro and if i close an account/ close the stock the money actually hits my etoro account straight away. In that case isbjt permisabble for me to use the funds to purchase another stock? As its already in mg available balance. Thank u in advance
Awesome video! Thank you so very much for the info. I have a Robinhood Gold account. Robinhood Instant and Gold accounts are Margin Accounts. Having said that, you have the option of turning off Margin Investment. Also, Robinhood states that deposits are made available instantaneously. Does this mean that we do not have to wait 3 trading days to buy again after selling?
Hi Hassan, did you have a response to your question?
Thanks for the video, but I am not sure the point about re-buying stocks on the same day was made clear. Lets say:
1) I fund my Trading 212 account with £1000. I buy 2 shares of XYZ at £500 each. After an hour the share price increases to £510, so I sell both shares at £1020, hence gaining £20 in profit.
2) Two hours after, I buy a share of ZYX worth £1020, then sell it an hour after at £1050, hence gaining £30 profit from that sale.
3) Immediately after that, I decide I have made a good profit on that day and withdraw all my money (ie the £1050). Given that Trading 212 is commission free, I get the £1050 in my bank account.
Where is the riba/interest/haram here? Could you please clarify?
JazakaAllah khair! :)
I believe they won't transfer the money to your account until all the trades are settled.
@@tru35kill but if they do transfer the amount (meaning I can withdraw it), does that mean is halal?
@@salehfahd they wouldn't do that though because the loan is only within your account. They wouldn't pay out the loan to your bank account
@@tru35kill Are you sure that is the case with Trading 212?
@@salehfahd I havent tried withdrawing from my account yet but I heard it takes a few days. They never transfer instantly.
MashaAllah Very nice presentation very helpful thank you so much
Obviously, you do not know much about professional day traders. 20% - 30% return on annual basis is next to nothing. Hedge funds are managed different from how day traders manage trading.
Agreed, although I would say he's a good brother all around and well versed about investing, unfortunately very ill-informed about day trading.
What if i own the stock and i am currently holding them with me.
Say i got 1share for 100, current price is 120.
But is short term(say 1 day or 1week) due to market condition i feel stock will go down, but i also feel for long term(say 1-3month) stock will remain up.
Now can i sell such holding in the morning for 120 and buy back in the evening for 110???
Basically can i short sell the stocks which i hold for intraday trade??
Salaam, why would you compare day trading returns on Warren Buffet/any investor returns? Warren buffet or people looking for annual returns on their investments are not day traders so this would be a false comparison? Successful day trading would require making small profit percentage trades against your losses, and is therefore a completely different percentage return analysis?
I use a margin account with Webull to trade. However, I do not use the margin that is provided, instead I only use the money I have in the account to day trade. I day trade multiple times in the day, but Webull instantly settles my cash with no riba involved. Is this permissible or should I switch to a Cash Account?
Assalamu alaikum warahmatullahi wabarakatuhu
It would be kind if you clear my doubt,
What if we trade only the principal amount again?
Like after we trade a stock for profit, what we have as our balance is "principal amount + profit"
So the profit is actually not under our ownership, but the principal amount is i believe.
So can we trade again using tht principal amount without having it to be settled in our bank acc??
Plz reply
sorry english is not my first language. so if i were to get the $1020 from sale, i cant buy more stocks on the same day. but i can buy the next day using the money i earn?
I don’t get what you mean in regards to the sale settling before the proceeds are used for any trade. I personally use a Robinhood cash acc and instead of withdrawing my profits into my bank account, I use that buying power (cash ready after trade is complete) to establish a bigger position during the next trade and exponentially grow the amount I allotted myself for day trading. Does this qualify as sales settling?
Yes this is what I was thinking. Money is digitally available on the screen and can be used again to trade. I assume from this video you can only trade once a week (3 days settling and process of withdrawal) and take earnings out into your personal account and then trade again? That doesn’t make sense. This way no more money can be made and for this you’re talking about very big accounts.
@@misszara786 yes wouldn’t make too much sense. There’s Hadith that prohibits futures/options trading but no solid evidence against day trading, that I know of of course
When I close a sell trade, the cash is immediately credited into my account. I'm able to use that cash straight away to either buy more stocks or withdraw cash. I'm in the UK
What trading platform do you use?
Which trading plate form
I suggest you start a playlist of who to start trading stocks from A to Z, if you say it is Halal. Because as I know stocks also uses leverage. Will be waiting for your response brother.@parctical Islamic Finance
Assalamualaikum! Need help.
If I buy a stock now and sell it after a week once the price goes up. By that time the shares will be credited to my account. I'll be owning those shares. If I sell them for a profit. Is it still haram?
Habibi warren Buffett isn't a trader. He is an investor. These are two different things....
One question Sir:
my brokereage allow margin of 10 times for daytrading,
Now my brokerage charge me 20 indian rupees as brokerage for one normal trade, so my question is
suppose i have 10000 in my account and i buy and sell one trade and my brokerage is fix 20 indian rupees for one trade
Now in same account i take one margin trade of 100000 indian rupees which is 10 times of my current amount and now brokergae is still 20 indian rupees, there is no increase or decrease in brokerage only if i take one trade daily and not more than that.
This means my broker has no benefit when he gives me margin of 10 times if i trade only once in a day and now my understanding is that this margin is now can be considered as charitable loan since broker has no benefit if i take only one margin trade.
so can i do it daily? whats your take on this sir? please let me know asap Thank you
Hello sir, thank you for this beautiful video but I have a small dog so I am trying to do day trading on binance spot. When I buy an asset and when the price is increases within a few hours I sell it and I immediately get the money in my account wallet so I buy again another asset for a a small amount and when the price goes up I again resale it. Is it considered haram or anything else please looking forward to your reply
Alhamdulillah Brother.. You Explain Very Well ❤️👌.
Assalamalikum so webull provide the cash immediately but do not let us sell before it seytles . So if I buy stock with the cash recieved from same day sell but then hold it for 2 days until it settles in account the sell and complete the trade is permissible?
So if I understood well , the broker only expects benefit , without bearing out the risk ,and that makes it haram?
Assalamualaikum..great video . questions what about after selling stock we have instant settlement on Robinhood can we use that money which we invested not the profit to buy another stock?? With the original money ... please let me know
Hope he replies soon, am in the same boat
If you sell stocks it takes two days for your funds to settle, in Robinhood you have instant buying power because it's a margin account and they are letting you use their money wile your money settles even though their not giving you anything extra.
@@grizzlyman329 So what's the status in this case? Halal or haram?
Asselamualikum. Great explanation. But why do I have to depend on cash that I just made profit to buy another stock. Instead, can't I use the remaining cash in my account that I didn't use for my initial trade to make another purchase?
@@peledood999 Sure you can. Except sometimes we don't have spare cash in our account.
Is daily trading in cryptocurrency Halal? since it's done immediately in spot ( binance) so i can pay and sell many times a day ?
I think its halal
i don't feel comfortable about it. and couldn't find trusted fatwa about it. any help?
13:18 - I still have some confusion - I can see the transaction in a completely different way where I transferred the ownership of my stock to the broker and in return they credit amount in my account. Whether they are acting as a middle man or selling it to another member its in their hand. Rest is the business process time for making the amount available to cash out. In any business you buy/sell the inventory on credit.
Similarly, if this is the case then using credit card will be termed as haram too as they also give us loan and definitely not as Qarz e Hasanat.
Apologies! If it is very simple and I am not getting it.
Bro credit card is haram because when we make a credit card we already agree for payment of interest on the papers etc if due date is gone on a transaction payment, we are humans and can never guarantee that we will always pay on time
@ 6.11 how is it allowed to sell the 2 shares at $1020 when it is not in your possession as it will take T+2 days to settle it. Pls Clarify
May Allah reward you brother!
I was really concern about validity of making day trades but you made it very clear.
With due respect, since it's a very crucial matter, I was just wondering if you have Islamic credintials to make such comments?
Nice efforts
May Allah bless you.
but if i have 500 dollars in my account and i buy 250 dollars woth of stock the sell it cant i just use the other 250 in the same day without having to wait
You can
1. Is Day Trading/Buying/Investing in coins like BNB where in the company-Binance- which owns BNB deals indulges in Crypto Loans and giving and taking interests?
2. Could you make a video on DeFi and specific COINS which are Halal or Haram based on the Tokenomics or source of income or idea behind the project.
Based on the video - I have one clarification - when we deposit a cash in the broker account for us to do day trading - the brokers some time offer 100% or 50 % bonus that we can use it as leverage to trade - now upon seeing your video, I understand that it is not right to accept the bonus to trade as per islamic law - please clarify
Salam Brotha and jazak Allah for all your vids!
Is it okay to use a margin account to bypass the settled funds related violations that cash accounts suffer from as long as the loan given by the broker is not riba based?
I asked Charles Schwab if using those unsettled funds is considered a "loan" or whether they take fees and they said they do not take any fees and don't even consider it a loan.
So in other words margin accounts are halal in terms of bypassing the settled funds related violations that cash accounts suffer from. As long as you are not taking a riba loan or using margin on the account or their are no fees involved when using unsettled funds then their is no issues inshallah
Yes bro i also agree. brother would you say like trading currency pairs is haram then even if you have an Islamic Broker which follows the sharia law?
What about pairing the coins with other coins that are not halal? For eg i pair it with USDT which I came across resources stating not halal. What is the best way to do trading
Aslamaualaikum
I want to know that Settel in which accounts dmate accounts or our bank account ? Answers me plzz
Your channel is the best. Thanks for the efforts and hard work. Jazakallahu Khairan
Wayyakum Nazim thank you!
Aleikum Assalam brother. I didn't understand a little bit. Please tell me, for example, can I buy stocks and sell it's more expensive after minimum three days for the purpose of making a profit ?
what is the difference between short selling and day trading ? please i need an answer ASAP
Thank you for your explanation, however I have question you said that I'm not allowed to buy stock during my settlement time, let's say I have 3000 dollars I bought stocks with 1000 dollars my investment returned at 1020 now I can't use that 1020 but can I use my other 2000 dollars?
Salam. Any money in your account that can be withdrawn in cash can be used to buy shares. In your case since the 1020 is yet unrealised you cannot buy shares on it, but you could do so with the remaining 2000.
@@Thaseee ie: in binance i buy dogecoin (in spot trading) in a cheap price for 100$ then after few hours / a day the price increase and i sell it to get profit n then re-buy the next day
So is this halal ? Yes or no