The messenger of Allah صلی اللہ علیہ وسلم said “You will never leave something for the sake of Allah, but Allah will give you something better in return.”
This was very clearly outlined & well explained, I feel like a lot of us may not like to hear the fact that this is haram, but Allah knows best. Jazak Allahu Khairan.
I was about to get into this and buy a training worth 12K by one of the top Forex trader. Alhamdulillah I watched your video. I don't want to earn haram money even there is a prospect of earning more money. Whoever, leaves the haram sake of Alloh, he will get something much better in this dunya and hereafter.
@@bilyaminuyahaya8386 if you are pay Interest on leavarage then it's not permissible.Some brokers given leavarage but after the Trade close they own their leavarag. Same like We do physically Investing and we need more money to buy a products so we say to ours relative or friends give me more money I will invest. This happening by physically and here oh trading its happening digically. We also use digically Credits card, Debit card.
@@bilyaminuyahaya8386 It's not just leverage, the interest on leverage can be removed by opening a Islamic account. The problem is that some brokers maybe dealing on the price of the asset and no actual transaction is occurring in real life, which is like dealing with derivatives and it's clearly haram. The second problem is, even if the double transaction is happening in real life in background, the broker is adding a condition with the loan amount to buy currency from their platform and give them commission, adding conditions to loan amount is haram in Islam.
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
Alhamdulillah, I have also paid for a forex course trying to learn it and start earning hugely. But Alhamdulillah, our Sheikh has made it very clear. I have stopped just now, inshallah, may Allah forgive us.
Jazakhallahukhoiron. I've been looking for this explanation in the last 2-3 months. I think I now have the answer, especially someone directly experiences in both fields.
I have been having lots of thoughts on this lately l, having learned the skills and started making some money then this occured to me from pious friends. Alhamdulillah, may Allah help me get rid of Forex totally from my mind. Ameen
Ibrahim Thank you so much Today i was going to invest in FOREX Trading but then a saw a video and one led to another and i reached here. You explained a lot to me Thank You so much!!!
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not strongly reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
This is true. Particularly in the stock market. There are several opportunities to generate excellent returns, but such intricate transactions can only be carried out by seasoned market professsionals.
This is impressive. Would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, I'm in need of guidance, can you point me?
Thanks for sharing, I just looked her up on the web, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm not getting the loan to use the service though. All brokers give the loan. I chose the broker BECAUSE of their service. Do you know how much it should cost to place a market order? Is the delivery fee at a restaurant riba? No, you are paying for a service, one they don't offer if you don't buy their food. I'm not trying to argue I'm just telling you that modern life is full of transactions like this. A discount card at a gas station will only be currency at that gas station chain. So if this is your belief... be careful of all such transactions.
Excellent video. I used to be involved in forex trading myself years ago but I stopped because something just didn't feel right. This video reiterates the Shariah standing on forex, but unfortunately many people are still attached to it, and unfortunately some of my own relatives are involved and frequently and selectively quote imams who say it is permissible with very weak reasoning because they don't fully understand how it works, but people still follow them because how influential those imams are.
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.....
She have changed my life and financial status for the best. All thanks to my aunty who introduced me to her. She is obviously the best, trading with her gives me joy of earning
I finally came across a simplified explanation about this forex trading. JazaakAllahu khayraa brother. Most muslims try to paint it fine to make it look halal. May Allah continue to guide us
It is easy to tell us what is halal and haram. The question is in the modern world of "interest-based" banking, what are the options, the common Muslims have to get rich? That is the part where scholars can't talk anymore, because telling someone what is wrong is easy, but giving someone a plan of action is difficult. The truth is you cannot avoid interest in any business unless you chose to live on a fixed salary.
The problem is in your reasoning, you just want to get rich… A halal modest income is better than having a Haram wealth that was built by waging war against Allah (Interest)
Thank you so much brother ! May Allah SWT reward you for the effort you put in to make this video, which will be useful for many Muslims who are willing to follow Halal way.
@@skeptage5136 Most Forex trading is A) Leveraged ridiculously, I'm talking 10-100x so you can only sustain a small downturn before your capital is wiped B) You're not even buying the actual currency. As explained they're usually market makers IE the company just sets a price that's somewhat linked the current market rate but the actual broker sets the rate and you're just buying and selling on their platform against them.
if almost everything is like that and haram, if even the banks cut a certain amount when carrying out a certain withdrawal, and they have a fee called annuality, the only thing you should avoid in forex is interest, margin has no problem because the broker only lends you the amount and not the interest on it
@@m-doser424 true true I woukd just be wary of investing with margin as is. It's extremely risky and not a sound strategy for novice or retail investors.
Masha Allah...may peace and blessings of Allah SWT be upon you and on all muslim ummah... Great video thank you for enlightened us with your expertise and knowledge.. Appreciate 👍
if you go through a pot and mortar money changer, you will be charged some form of exchange fee. That is not interest, its a service fee. somebody needs to pay for the service to provide the trader a platform to trade, the charts, analysis tools, data, processing those trades on behald of the trader etc. In terms of leverage, as mentioned its a type of loan that you pay back at the end of the trade, together with a service fee or margin fee or so. Now thats debatable as a muslim borrowing money from a conventional bank to buy a house or using a so called islamic bank for the same purpose. You can avoid that part of the business and trade spot with no margin. Money per se is actually created from nothing anyways, just numbers that we use in exchange of goods and services. Im suprised why some shares are considered halal and forex considered haram while they have the same principle, both produced nothing. The shares cannot be used to buy any goods or services until it get sold in the market and translated into cash or currency. Same as pips in the forex workd. Overall the argument is pretty basic and does not look at the fundamental concept of money/currency. However, its good effort from a brother who has a sincere intention to educate us. All the best
I am genuinely interested to understand one point, what if what we call interest, it's the fee of using a platform, which is a service. For example if I have a company that manages money and I have employees, computers and servers that I am running, isn't right to charge some money for transactions through my company? I believe when Islam came, there was no big institutions and money was easy to manage as it was kept by the individual. But this time it's becoming increasingly difficult to manage your own money and that's why use banks. But these banks also pay infrastructure to keep that system running. How can you explain this?
Hello. I am a forex trader for 7 years now. And I think what makes forex trading haram is putting our hard earned money to gamble. I think trading in general or anything that is harmful in terms to our financial, emotional and psychological health is haram. Trading in fact must be treat like other traditional business out there. Not a get-to-rich quick scheme, not a hobby but more of a profession that requires knowledge, practice and experience.
Since you are trading forex you have knowledge, most ismamic scholars have little knowledge about it. So is everything related to forex true in this video?
@@elyanhamad3469 No, most people want to be ignorant and say that islamic scholars know nothing. He explained it clearly and many other scholars did too. Derivatives like forex,options and futures are forbidden cause they're purely made for speculation. While spot trading is actually real trading, so exchanging things for something else. Thats why spot trading stocks, crypto and real currency trading is considered be halal
I had a feeling that it is not halal in Islam, but when I watch this video I realize the reasoning for it. I am truly grateful for what you have done, jazaka Allah kheyran, bro.
If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life...
I trade as a side hustle while keeping my job. I'm tired of trading in losses myself. I've blown my account twice and it's frustrating. I see people making a living out of trading and I want to do the same. Please I need help can someone teach me how to trade?
yeah, she does, and in my opinion, it's a huge one and a chance for you to change your life with trading. I just bought my dream Mercedes from last week's profit. Thanks to her expertise.
I bought an online forex trading course, and I was in the middle of the course when I saw this video. Now, my view has changed since i look at everything in a halaal lens.
Thanks for the video, it's very informative. Binary Option is gambling , that's why you are not to invest with money you are scared of losing because it actually attracts reward and also losses .
@@carmenm.lybarger4002 Yeah, but with a professional like Mrs Karl Anja, possibility of losing is at minimal when trading so I advise everyone go for Bitcoin Mining option.
I thought it were all lies people say on the internet about her and her investment plan until I gave a try. now I can join the chorus to testify boldly.
Brokerage fees are totally HALAL, as long as you don't play the "overnight interest" game. If you just buy and sell without holding overnight, it's all good in the financial hood and not haram.
My only issue is how can you compare leverage and loan, as being two similar things. Leverage doesn't fulfill the conditions of a loan, as it is not given to you directly, like a loan. And it doesn't have to be paid back. The broker is simply boosting your investment so that you can make good returns, irrespective of how much you invest. So, I don't see how those two can be equated.
@Mokadir79 True, I could be speaking ignorantly. Do you have sources to prove it's halal though, as it seems that's the standpoint you are coming from?
Sunan an-Nasa'i 4454 It was narrated that Abu Hurairah said: "The Messenger of Allah said: 'There will come a time when a man will not care where his wealth comes from, whether (the source is) Halal or Haram." Sunan an-Nasa'i 4455 It was narrated that Abu Hurairah said: "The Messenger of Allah said: "There will come a time when there will be no one left who does not consume Riba, and whoever does not consume it will nevertheless be affected by residue." Sunan an-Nasa'i 4611 It was narrated from 'Amr bin Shu'aib, from his father that his grandfather, Said: That the Messenger of Allah said: "It is not permissible to lend on the condition of a sale, or to have two conditions in one transaction, or to sell what you do not have." Forex as a whole is riba based market, any profit you gain at the expense of others is riba. In order for you to win, the other side needs to lose.
I remember the days wn ppl saying dat picture on cruency note is haram, camera fone is haram, even in makkah sarif u cant go with camera fone bt with the pasage of time its ok now......
Yes, that has been the case for many new inventions, including cars, landing on the moon etc... However, when it comes to currency, a method of purchasing and selling, we have definitive hadith, esp. against interest. These are some of the matters that have been made clear. But us human beings, the capitalistic mindset, continue to innovate and produce ideas that may sound "fancy" but at the end is in principle the same old exchange using dubious and dishonest methods. We will be asked about how did we earn our rizq. Did we take a video or took a selfie, I am not sure that is one of the question that we find in hadith yaknow
We didn’t have forex when Islam came. So we must not draw rulings on it. It has element of loss and profits so it’s halal, if it was just profit and no loss then it could have been Haram. You are not selling prohibited items. Every one on here saying they are closing their account after this video are the ones who don’t know how to trade and are loosing money anyway. If you are on about interest you can’t escape interest. You take mortgage out you are paying interest. You take credit card out you are paying interest on it.
I totally agree bro. I practice in demo account for 6 months and then start real trading and ended up losing my 75% of money, and then I Quit. i wish i could see this video before starting trading.
If you demo without proper risk management and money management, of corse youll end up losing money. Trading is not just buy or sell. If youre not consistent enough on demo, you shouldnt start a live acc trading
I've been trading forex for 4 years, and I've finally become consistently profitable, and subhannallah now I'm receiving signs that this is a path that will only lead to pain... I think there are a lot of inherent issues with this method of making money as well and I can tell you from experience one of the issues is that you will genuinely feel no fulfillment in this business.
I think because it's zero sum game. your profit is from the loss of others. No values are added to the society. it's only from one point of view. another point of view from sharia perspective are as mentioned in the video.
@@ultiumlabs4899 isn't that always the case with every other business? money flow from one to another. i trade without leverage, its 1:1 ... i give no interest or fee.. they might get some fee since we use their application, but not from my money. like youtuber earns when yu watch their video. i dont give interest, i work hard. i dont gamble. idk whats the point here.
Thank you for the detailed explanation. However isn't there a more fundamental argument that since money is not a commodity (but only a medium of exchange), it must not be traded simply for the end goal of making money with no connection to the real economy? The need for foreign exchange transactions by companies that are actually trading goods internationally and by travellers who need local currency in their travel destinations wouldn't classify as trading as they are doing it out of necessity for a real-world transaction to take place.
beautiful! I would like to add that trade on a standard for value measurement is like changing your standard or having a different mass standard to weight on the Mizan.
Sometimes I wonder why individuals always complain of losing in forex,few weeks ago I withdrew a total profit of $7000 and this is my 8th consecutive withdrawal I have made
Like if there is a shop which is not yours, you have taken it on rent, so you have to pay rent to the shop owner every month In the same way, the broker is providing you the platform, so you will have to pay charges in return for that
Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.
@@AidenLogan Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert. Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
But there's a serious issue here!! Brokers charge it depending on your trading size whether you trade using leverage or not. It's a charge for using their platform. How does it amount to usury?
@@hamza361 pretty much that's what it is. But, my question is - if I were to take a loan from a rent-a-car company on a condition that I would take a car rent only from them for a given time and then they charged me with additional service charges, would it amount to usury as well?
Forex is based on "speculation" and speculation is gambling. Everything else like leverage/loan is secondary. I know that Liverpool will beat Fullham all day long but it's still speculation/betting because it's not a guaranteed result. This is the same as Forex.
No no that's not true, forex market is never like a bet, with good analysis and strategic trades you can make way far profits than what you think. Message my Expert Trader for more guidance on trading and how to make more profits.
@@i.1683 You're completely wrong. it's just like betting. Firstly you don't know whether the price will go up or down for certain even with all the analysis you do. Secondly, it's a zero sum game. Someone has to lose in order for you to make a profit. It's money re distribution not money creation just like gambling. Unlike investing in companies which pay out dividends, profits from trading in Forex come from capital gains i.e. from other traders. NO NEW WEALTH IS BEING CREATED, ONLY THE SAME MONEY BEING DISTRIBUTED LIKE GAMBLING.
Thank you soo much. I received an message from a sister who was talking about making money from home on your own terms etc and when i looked into it it was a forex group. I was really considering it due to financial situation however was curious if it was halal or not. Im really glad i came across this video as a lot of the articles online claim its halal but are often written by the 'islamic accounts'
Asalamualikum can you help me out here brother I opened my trading account in exness where i traded with with leverage and made about 1.30usd and then i tried to withdraw the money to find out if they charge in commissions or not but while withdrawing the money they do dont charge any commissions at all… its like i asked my friend for moeny then later gave him back with zero interest and commissions but at the same time im confused about how they are earning then is there something that im missing out here please clear my confusion 🙏
Jazakallahu khairan brother please remember me in your prayers I am victim of this forex trading i was convinced that is not haram but if make me loose lot of money and after all is not halal as well
@ seems like to me everyone wants it to be halal so much they will try and find any loophole to make it halal. I get it we all want to wealthy but is it worth it if we go against our religion
@@kirbi888 its hard because most major bank in any country do forex with out money and then return it as devident. Isnt this almost the same as investing to a company that do forex?
Fixed rate is haram ..but wht about percentage of profit....,?if someone asks 10000 per month for his money.. its haram .what if someone asks 20 percent of profit..is it haram too..?it depends on the profit huh...maybe it will be high or less.. it depends on profit.. then how it becomes haram?
Salam alaykum very clear and now I understand more why it is haram but is there any way to build a brokerage company which is 100% shariah complient because if Muslim don’t try to find a solution for forex we will be left broke
Thanks for this comment @baba Cisse. My view is that there are many sharia-compliant options for both long-term investing and short-term trading other than forex. These halal options are: Short-term trading: stocks and shares, crypto long-term: everything you can think of For the long-term options in particular check out: www.islamicfinanceguru.com/halal-investments/
The only way to trade FX in a halal way is to buy the currency outright and exchange the currency literally. Either by going to a money exchanger and buying/selling the currency hand to hand. Or doing the same online via your bank account. Obviously you will need huge amounts of cash to make this profitable as no derivative products are invovled and therefore it is not tenable.
www.vantagefx.com/trading/trading-accounts/islamic/ I found a sharia complaint with a certificate from a sheikh of the Sharia Supervisory committee signed by him
Also the brother in the video mixed a lot of concepts up especially the Base and Quote Currency bit, to let you know, interest is only involved when the swap fee charge is incurred for overnight positions taken
@@vbandz2645 Its fake, i emailed them. That sheikh is not known. They just paid a random person to sign and say that it is halal. A manipulvative way to get muslim customers.
Aslm sane scholar, my mind have be so doubtful about this forex that’s why when ever I want to indulge myself in I literally back off without a reason. Watching this video has given me the answer to what has transpired to me in this regard I thank god for emancipating me from the jeopardy of this act. Jazakallahu khair my scholar.
@Islamic Finance Guru Excellent video... Few questions: What if the leverage is 1:1 I know they would still charge (spread), but it wont be as a return for the loan they provide. regarding possession of the currency, when we buy the currency pair, we do have the right to keep until we want Also most of the things nowadays are not completely acquired physically but we do have full control over them I am only referring this for buying and not selling (as short selling is clearly haram) Please advice
@@SaadArshad17 Forex products are CFD, meaning contract for difference. referring to Product disclosure statement, you merely speculate on price, there is no exchange of money or asset between buyer and seller. no matter if you use leverage or not.
I don't see why it's not permissible in Islam to use leverage (to borrow money from a broker) as we are bounded to the broker's t&c's such as commission, fee or spread whatsoever. it's the same story for if we're borrowing money from a bank to buy a house, we're bounded to the bank's term. Can somebody show me the dalil / reference?
I’m a fulltime forex trader. It’s not haram lol. It’s TRADING. Interest is haram. You can’t shut down my lifetime career with a 3 minute video. Allah knows best.
Sir I have a question ? You said that leaverage is haram because the broker also take interest on that amount which he give to you. So what about investing in a shop ? A man give some money to the owner of the shop and then take 20 or 30 percent from it as a partner in that business? Kindly clear about it
Thank you for this informative video brother. You guys should really release content much more frequently. There is a dire need for personal finance content for Muslims. We need a credible knowledgeable team to share knowledge.
I believe that if you take out the swap (which is interest and Islamic "swap free" accounts don't have that) it's halal. He talked out paying the broker a fixed fee for every trade. Don't we pay our banks a fixed fee on almost every transaction or like annual fee? So if that's haram, no Muslim should have a bank account right?
@@khalilurrehman3128 Brother if you listen to the video fully you would have heard it all. The issue of the Swap is one thing, if that is solved by the broker, what about the benefit they get from you just because they gave you the margin or the leverage or the loan , what ever you call it. Do you think the broker will allow you to trade with their loan else where or will they allow you to trade their loan without any charge, i mean any charge, completely free, with out charges between the spread- the difference between the ask and bid price- I think no. So, there is clear Hadith the prohibits combining a loan and a sale or trade in the same contract, i.e a contract between you and the broker. so you see the condition here, the broker will not offer you the loan or the margin without expecting to extract a benefit from you Nor they allow you to take the loan and trade with it on an other platform, for example on an other Broker syste. Which both are not viable option for any broker
I don't understand why people will watch a vidoe which says Forex is Haram , and as they are so into making money, they will come up with millions of excuses not to believe what the guy is saying in the video. If you want to carry on with Forex then go ahead stop making excuses what u shouldn't stop as you believe its Halal
I have a question and I’ll really appreciate if you answer. These days there is facility where any person can become an investor and can invest on professional forex traders who do all the trading. It is also called copy trading system. If a trader losses the investor also bears loss on other hand if trader gain any profit investor also gains profit. In return investor has to give a small % of profit to trader. Is this type of investment is Halal or Haram? As the invester is not doing trading he/she is only investing.
Thank you brother, I have listened to some videos by some sheikhs who only made it more confusing because most of them are not well versed in finance. this video made it really clear. Now I know I should just stay away from forex. is there any Islamic investment you would suggest that is halal, jazak Allah khair brother.
I looked into fees associated with using leverage, you aren't charged for using leverage there's no fee associated with it. Can you follow up with a reply please.
@@bilyaminuyahaya2219 Ive reached contact with an employee at vantagefx, there’s no charge for the extension of leverage. The only fees are for swap and for placing a trade under the brokerage
I think the charges are for you placing a trade and also making use of their platform....something applicable to bank account.. You are charged for transfer, ATM charge and all the rest
@@nurudinabdkarimajose3035 that is exactly what the Scholar are saying the problem lies. since leverage is a loan, the loan provider who is your broker cannot benefit from you in any way shape or form even if the charges they charge is to do with your usage of their platform. The logic is, if the loan has go no condition attached to it for example, the condition could be , you can only access the loan via the broker's platform- than its permisable and halal but unfortunetly, no broker will accept this as there is no commercial advantage for them. Literely, they are giving you the leverage to use thier platform and trade through them so that they get benefit from you.
![Hunxho - Ball Forever [Official Video]](http://i.ytimg.com/vi/nki9ZTF9Uls/mqdefault.jpg)
The messenger of Allah صلی اللہ علیہ وسلم said “You will never leave something for the sake of Allah, but Allah will give you something better in return.”
Masya Allah brohter
Beautiful reminder. Subhannallah
This was very clearly outlined & well explained, I feel like a lot of us may not like to hear the fact that this is haram, but Allah knows best. Jazak Allahu Khairan.
me too I am really heart broken
I was about to get into this and buy a training worth 12K by one of the top Forex trader. Alhamdulillah I watched your video. I don't want to earn haram money even there is a prospect of earning more money. Whoever, leaves the haram sake of Alloh, he will get something much better in this dunya and hereafter.
Which trader it is ? does he have an IG account ?
الحمدلله
@@faouziajr1416 😂😂🤦♂️ fam 😂😂😂
12k Thats alot money be careful akhi or SIS they Will scam l would advice start bussnies with that money find bussnies thst befit You
@@faouziajr1416 bruv
One of the only true person on youtube who has knowledge of forex and logically explain why it is not halal.
Is it halal or aram
@@IbrahimMohammed-pq9inHaram according to him. And what make it Haram is that leverage charges
@@bilyaminuyahaya8386 if you are pay Interest on leavarage then it's not permissible.Some brokers given leavarage but after the Trade close they own their leavarag.
Same like We do physically Investing and we need more money to buy a products so we say to ours relative or friends give me more money I will invest. This happening by physically and here oh trading its happening digically. We also use digically Credits card, Debit card.
@@bilyaminuyahaya8386but is every broker using the leverage or commission??? Am using exness broker is it also haram?
@@bilyaminuyahaya8386 It's not just leverage, the interest on leverage can be removed by opening a Islamic account. The problem is that some brokers maybe dealing on the price of the asset and no actual transaction is occurring in real life, which is like dealing with derivatives and it's clearly haram. The second problem is, even if the double transaction is happening in real life in background, the broker is adding a condition with the loan amount to buy currency from their platform and give them commission, adding conditions to loan amount is haram in Islam.
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
Great, as far as the holy book does not forbid trading just as Ibrahim has explained then I am going to give this a try, can you show me how
I can't coach you because I barely know how rather I use an expert for it
Benjamin ravies
That’s his gmal okay
Thanks a lot, I have mailed him and I will be back soon to tell you how my journey is going
I watched your video and today I closed my forex trading account and I will give all the money to charity. Thank you
peace
Yes I'm planing to go into forex as well, but I think I'll just give it to charity, the best trade is trade with Allah
The money you made while you was ignorant is halal for you but not any made after you got the message.
A good step. My fience also did it. Left the fx trading
There are shariah complient brokers. WITH SIGNITURES. research yourself vantage fx if you dont believe me.
I am so happy that i run into this video and this channel. We as muslims need more smart people to be out there sharing knowledge in a perfect manner.
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
Kya aap yea mujhe Hindi mai explain kr skte ho??
Alhamdulillah, I have also paid for a forex course trying to learn it and start earning hugely.
But Alhamdulillah, our Sheikh has made it very clear.
I have stopped just now, inshallah, may Allah forgive us.
@@qarinew assalamualaikum sir sir forex is halal or haram according to ur sheikh
Probably the best video explaining forex in Islam. Thank you brother JazakAllah. May Allah guide and keep us on the halal path.
Kya aap mujhe yea Hindi mai explain kr skte hai
@abdull Maleek forex trading ki halal or haram?
@@lowpricebestproducts334 halal nhi ha
Jazakhallahukhoiron. I've been looking for this explanation in the last 2-3 months. I think I now have the answer, especially someone directly experiences in both fields.
I have been having lots of thoughts on this lately l, having learned the skills and started making some money then this occured to me from pious friends. Alhamdulillah, may Allah help me get rid of Forex totally from my mind. Ameen
Ibrahim Thank you so much Today i was going to invest in FOREX Trading but then a saw a video and one led to another and i reached here. You explained a lot to me Thank You so much!!!
So is forex trading halal or Haram?
@@osmannaeemrana it has been summarised in the video
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not strongly reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
This is true. Particularly in the stock market. There are several opportunities to generate excellent returns, but such intricate transactions can only be carried out by seasoned market professsionals.
This is impressive. Would love to grow my reserve regardless of the economy situation, my 401k has lost everything accrued since early 2019, at this point, I'm in need of guidance, can you point me?
Thanks for sharing, I just looked her up on the web, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@HassanChoukri-jo7kutroll adverts
@@bahijarhafiritroll advert ‼️
I was about to start trading today. Thank you my brother.
Halal hai ya haram?
@@blackflags7668 haram he bhai
Yar spot trading b haram ha forex pa?
I'm not getting the loan to use the service though. All brokers give the loan. I chose the broker BECAUSE of their service. Do you know how much it should cost to place a market order? Is the delivery fee at a restaurant riba? No, you are paying for a service, one they don't offer if you don't buy their food. I'm not trying to argue I'm just telling you that modern life is full of transactions like this. A discount card at a gas station will only be currency at that gas station chain. So if this is your belief... be careful of all such transactions.
I'm very confused
Assalamu alaikum, maa shaa Allah. The video was indeed timely and educative. May Allah increase you in knowledge. Jazaakumullahu Khair.
Appreciated
@@IFGuru forex trading haram or halal clear in one word plZ
Forex trading haram or halal clear in one word please
@@babydevadiga9838 its haram
Excellent video. I used to be involved in forex trading myself years ago but I stopped because something just didn't feel right. This video reiterates the Shariah standing on forex, but unfortunately many people are still attached to it, and unfortunately some of my own relatives are involved and frequently and selectively quote imams who say it is permissible with very weak reasoning because they don't fully understand how it works, but people still follow them because how influential those imams are.
Halal stock picking ...check it out inshaAllah.....ruclips.net/channel/UCgrsr-hW1F7UmH320z3q-1Q
what do you do now? i spent so much time and got good at it now I'm very lost
Masya Allah, how come this channel doesn't have like at least 1 M subs?
why does it need 1m?
@@uknasa007 its underrated bro
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
One of the best videos thanks for saving me from such a big sin
Leverage in future trading in Binance is halal or haram?
@@uzeyirktk4945 all I know, leverage is always haram
@@麦わらのルービー but they give leverage to support you in investment
@@uzeyirktk4945 still it is haram since inance charges you interest. avoid at all cost.
@@doubleshah6281 islamic accounts have no interest bud.
Successful people don't become that way overnight. What most people see at a glance wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life.....
The thing about been successful is working toward it and not going the other way round
It's obvious everyone is doing this online Investment
Investment is the key to achieving success with the current pandemic slowing down so many businesses aww
Yes I'm a living testimony of Stacy Griffin, her platform has also done a great thing for me
She have changed my life and financial status for the best. All thanks to my aunty who introduced me to her.
She is obviously the best, trading with her gives me joy of earning
I finally came across a simplified explanation about this forex trading. JazaakAllahu khayraa brother. Most muslims try to paint it fine to make it look halal. May Allah continue to guide us
It is easy to tell us what is halal and haram. The question is in the modern world of "interest-based" banking, what are the options, the common Muslims have to get rich? That is the part where scholars can't talk anymore, because telling someone what is wrong is easy, but giving someone a plan of action is difficult. The truth is you cannot avoid interest in any business unless you chose to live on a fixed salary.
No problem bro, when Allah asked you why did you get rich from Haram, you can say the same reasons as well
The problem is in your reasoning, you just want to get rich… A halal modest income is better than having a Haram wealth that was built by waging war against Allah (Interest)
Being or becoming rich is not necessary or mandatory. The desire to become rich, in itself, is problematic. It has many pro's and cons.
Thank you so much brother ! May Allah SWT reward you for the effort you put in to make this video, which will be useful for many Muslims who are willing to follow Halal way.
May Allah protect us all from the temptation of making easy but haram money
It’s Haraam. End of. Let’s move on from this. Some people are way too attached to this.
How
@@skeptage5136 Most Forex trading is A) Leveraged ridiculously, I'm talking 10-100x so you can only sustain a small downturn before your capital is wiped B) You're not even buying the actual currency.
As explained they're usually market makers IE the company just sets a price that's somewhat linked the current market rate but the actual broker sets the rate and you're just buying and selling on their platform against them.
well clearly this isn't for you, enthusiasm and confidence is something required and clearly you do not have either!
if almost everything is like that and haram, if even the banks cut a certain amount when carrying out a certain withdrawal, and they have a fee called annuality,
the only thing you should avoid in forex is interest,
margin has no problem because the broker only lends you the amount and not the interest on it
@@m-doser424 true true I woukd just be wary of investing with margin as is. It's extremely risky and not a sound strategy for novice or retail investors.
Masha Allah...may peace and blessings of Allah SWT be upon you and on all muslim ummah... Great video thank you for enlightened us with your expertise and knowledge.. Appreciate 👍
Shukran for explaining this in details in the Islamic perspective. I open an account and closed 🔐 now. Will never ever do forex trading.
if you go through a pot and mortar money changer, you will be charged some form of exchange fee. That is not interest, its a service fee.
somebody needs to pay for the service to provide the trader a platform to trade, the charts, analysis tools, data, processing those trades on behald of the trader etc.
In terms of leverage, as mentioned its a type of loan that you pay back at the end of the trade, together with a service fee or margin fee or so. Now thats debatable as a muslim borrowing money from a conventional bank to buy a house or using a so called islamic bank for the same purpose. You can avoid that part of the business and trade spot with no margin. Money per se is actually created from nothing anyways, just numbers that we use in exchange of goods and services. Im suprised why some shares are considered halal and forex considered haram while they have the same principle, both produced nothing. The shares cannot be used to buy any goods or services until it get sold in the market and translated into cash or currency. Same as pips in the forex workd.
Overall the argument is pretty basic and does not look at the fundamental concept of money/currency. However, its good effort from a brother who has a sincere intention to educate us.
All the best
Alhamdulillah I came across this video. Shukran jazzakallah kheir brother.
I am genuinely interested to understand one point, what if what we call interest, it's the fee of using a platform, which is a service. For example if I have a company that manages money and I have employees, computers and servers that I am running, isn't right to charge some money for transactions through my company? I believe when Islam came, there was no big institutions and money was easy to manage as it was kept by the individual. But this time it's becoming increasingly difficult to manage your own money and that's why use banks. But these banks also pay infrastructure to keep that system running. How can you explain this?
Very well and simply explained. Jzk for enlightening us on this subject. Best video I have watched on this subject.
Shukran Jazillan I didn’t had any clue regards to wrong decision I was about to put my savings into.
Hello. I am a forex trader for 7 years now. And I think what makes forex trading haram is putting our hard earned money to gamble. I think trading in general or anything that is harmful in terms to our financial, emotional and psychological health is haram. Trading in fact must be treat like other traditional business out there. Not a get-to-rich quick scheme, not a hobby but more of a profession that requires knowledge, practice and experience.
Since you are trading forex you have knowledge, most ismamic scholars have little knowledge about it.
So is everything related to forex true in this video?
@@elyanhamad3469 No, most people want to be ignorant and say that islamic scholars know nothing. He explained it clearly and many other scholars did too. Derivatives like forex,options and futures are forbidden cause they're purely made for speculation. While spot trading is actually real trading, so exchanging things for something else. Thats why spot trading stocks, crypto and real currency trading is considered be halal
@@omarpip8641 how about kot4 is that a halal broker?
@@abda200 no, every online forex cfd broker is haram. Only online forex halal trading is converting currency in paypal with your own money
@@omarpip8641 and how do we do that?
man, finally i got a better understanding of what happen inside forex trading. thanks a lot Ibrahim.
I had a feeling that it is not halal in Islam, but when I watch this video I realize the reasoning for it. I am truly grateful for what you have done, jazaka Allah kheyran, bro.
If you wanna be successful, you must take responsibility for your emotions, not place the blame on others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal accountability. There's always a risk in every investment, yet people still invest and succeed. You must look outward if you wanna be successful in life...
Absolutely. Market success requires emotional maturity
I trade as a side hustle while keeping my job. I'm tired of trading in losses myself. I've blown my account twice and it's frustrating. I see people making a living out of trading and I want to do the same. Please I need help can someone teach me how to trade?
So you guys know her too?... Wow, she made me have my own house and car. She is awesome
I'm a living testimony of the expert Mrs. Pamela Weaver she has been trading for me for years now
yeah, she does, and in my opinion, it's a huge one and a chance for you to change your life with trading. I just bought my dream Mercedes from last week's profit. Thanks to her expertise.
I bought an online forex trading course, and I was in the middle of the course when I saw this video. Now, my view has changed since i look at everything in a halaal lens.
Thanks for the video, it's very informative. Binary Option is gambling , that's why you are not to invest with money you are scared of losing because it actually attracts reward and also losses .
Bitcoin Trading is actually gambling, because the number of my losses is more than that of my wins so I prefer to Mine thou it might be very expensive
@@carmenm.lybarger4002 Yeah, but with a professional like Mrs Karl Anja, possibility of losing is at minimal when trading so I advise everyone go for Bitcoin Mining option.
It's easy and very reliable in this time of the virus out break you can work from home and earn from home differently from your salary.
I thought it were all lies people say on the internet about her and her investment plan until I gave a try. now I can join the chorus to testify boldly.
I ran into loss four months ago when I tried doing it alone but I think this time I really need an expert to guide me through.
Brokerage fees are totally HALAL, as long as you don't play the "overnight interest" game. If you just buy and sell without holding overnight, it's all good in the financial hood and not haram.
Thanks for opening my eyes and saving me from a sin that I didnt know was actually a sinful act.
It's or haram! Trade with an expert and understand better. I could introduce you to the expert I trade with. If you want
Utaangamia kwa kukosa maarifa,
@@harunking5418 hahahahhaa
The problem is since u started trading u did not make lots of profits, it all loss sorry for that
@@harunking5418 have u made profits?
My only issue is how can you compare leverage and loan, as being two similar things. Leverage doesn't fulfill the conditions of a loan, as it is not given to you directly, like a loan. And it doesn't have to be paid back. The broker is simply boosting your investment so that you can make good returns, irrespective of how much you invest. So, I don't see how those two can be equated.
Irrespective though, they still take a fixed cut. Which in itself is interest
@Mokadir79 True, I could be speaking ignorantly. Do you have sources to prove it's halal though, as it seems that's the standpoint you are coming from?
As my broker only charge for spreads as i know . And spread is the difference between buy price and sell price .
Sunan an-Nasa'i 4454
It was narrated that Abu Hurairah said:
"The Messenger of Allah said: 'There will come a time when a man will not care where his wealth comes from, whether (the source is) Halal or Haram."
Sunan an-Nasa'i 4455
It was narrated that Abu Hurairah said:
"The Messenger of Allah said: "There will come a time when there will be no one left who does not consume Riba, and whoever does not consume it will nevertheless be affected by residue."
Sunan an-Nasa'i 4611
It was narrated from 'Amr bin Shu'aib, from his father that his grandfather, Said:
That the Messenger of Allah said: "It is not permissible to lend on the condition of a sale, or to have two conditions in one transaction, or to sell what you do not have."
Forex as a whole is riba based market, any profit you gain at the expense of others is riba. In order for you to win, the other side needs to lose.
Bro I don't even I understand that leverage is not loan
✌ I'm not Surprise that you guys know him, he good work/services speak for him.
jazakallah khairan for your explanation baarakallah fihi
I remember the days wn ppl saying dat picture on cruency note is haram, camera fone is haram, even in makkah sarif u cant go with camera fone bt with the pasage of time its ok now......
Yes, that has been the case for many new inventions, including cars, landing on the moon etc...
However, when it comes to currency, a method of purchasing and selling, we have definitive hadith, esp. against interest. These are some of the matters that have been made clear. But us human beings, the capitalistic mindset, continue to innovate and produce ideas that may sound "fancy" but at the end is in principle the same old exchange using dubious and dishonest methods.
We will be asked about how did we earn our rizq. Did we take a video or took a selfie, I am not sure that is one of the question that we find in hadith yaknow
This is the good content I have ever encountered since I have known forex Market
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
Excellent video. It takes great skill to simplify complex information as you did. Mashallah 👍👍 well done.
Forex halal and haram??
Halal than type yess
Haram than type no
Beneficial content. Important information through-out the video :)
We didn’t have forex when Islam came. So we must not draw rulings on it. It has element of loss and profits so it’s halal, if it was just profit and no loss then it could have been Haram. You are not selling prohibited items. Every one on here saying they are closing their account after this video are the ones who don’t know how to trade and are loosing money anyway. If you are on about interest you can’t escape interest. You take mortgage out you are paying interest. You take credit card out you are paying interest on it.
People don't talk about this and fiat and the whole banking system,
One of the great video. Thanks for sharing the knowledge and saving us from this Haram deed. Stay blessed. Thanks again
Halal stock picking ...check it out inshaAllah.....ruclips.net/channel/UCgrsr-hW1F7UmH320z3q-1Q
I totally agree bro. I practice in demo account for 6 months and then start real trading and ended up losing my 75% of money, and then I Quit. i wish i could see this video before starting trading.
My suggestion to those new traders stay away form this market.
lol if it was that easy every asain would be sat at home trading
If you demo without proper risk management and money management, of corse youll end up losing money. Trading is not just buy or sell. If youre not consistent enough on demo, you shouldnt start a live acc trading
Shukran. Very informative video & clears my doubts. Jazakallah
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
I've been trading forex for 4 years, and I've finally become consistently profitable, and subhannallah now I'm receiving signs that this is a path that will only lead to pain... I think there are a lot of inherent issues with this method of making money as well and I can tell you from experience one of the issues is that you will genuinely feel no fulfillment in this business.
I was about to start but now i dont think i will
I think because it's zero sum game. your profit is from the loss of others. No values are added to the society. it's only from one point of view. another point of view from sharia perspective are as mentioned in the video.
@@ultiumlabs4899 that's is an awesome perspective and theory. I agree with you, that makes a lot of sense.
@@ultiumlabs4899 isn't that always the case with every other business? money flow from one to another. i trade without leverage, its 1:1 ... i give no interest or fee.. they might get some fee since we use their application, but not from my money. like youtuber earns when yu watch their video. i dont give interest, i work hard. i dont gamble. idk whats the point here.
@@mahreenahmed6618
Asslam o Alaikum
Which broker
Am so grateful that i landed on this video, thanks a lot for the info..
Thank you for the detailed explanation. However isn't there a more fundamental argument that since money is not a commodity (but only a medium of exchange), it must not be traded simply for the end goal of making money with no connection to the real economy? The need for foreign exchange transactions by companies that are actually trading goods internationally and by travellers who need local currency in their travel destinations wouldn't classify as trading as they are doing it out of necessity for a real-world transaction to take place.
beautiful!
I would like to add that trade on a standard for value measurement is like changing your standard or having a different mass standard to weight on the Mizan.
Sometimes I wonder why individuals always complain of losing in forex,few weeks ago I withdrew a total profit of $7000 and this is my 8th consecutive withdrawal I have made
Wow Amazing outcome
I have been trading offshore I'm still yet to earn my first $100, what strategy do you use please?
Who else thinks this forex is kinda easy but is way to nervous to start
Growing an account requires dedication and patience
Demo accounts are risk free though you can't earn from it
Like if there is a shop which is not yours, you have taken it on rent, so you have to pay rent to the shop owner every month In the same way, the broker is providing you the platform, so you will have to pay charges in return for that
Thank you for this video alhumdulilah Allah showed me the right path by watching ur video.
Dont want to earn haram money.
Jazak’Allah Brother
God Bless You ! ❤
Great video, trading come with a lot of benefits And I have just bought my first house through it. As a beginner I was scared of loosing my savings but I’m glad I took the bold step that is now favoring me.
Congratulations.
I will love to be your friend dear as well as sharing some i dears which you're benefiting.
@@AidenLogan Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
@@rajeshmittal6 I can relate to all you said because I am facing similar thing right now. Congratulations I wish you more success.
@@rajeshmittal6 Hey how good are your earnings I will like to get some insights into trading thank you.
I've always wondered! Many thanks for explaining
But there's a serious issue here!! Brokers charge it depending on your trading size whether you trade using leverage or not. It's a charge for using their platform. How does it amount to usury?
@@hamza361 pretty much that's what it is. But, my question is - if I were to take a loan from a rent-a-car company on a condition that I would take a car rent only from them for a given time and then they charged me with additional service charges, would it amount to usury as well?
Great explanation from EVERY angle
Forex is based on "speculation" and speculation is gambling. Everything else like leverage/loan is secondary. I know that Liverpool will beat Fullham all day long but it's still speculation/betting because it's not a guaranteed result. This is the same as Forex.
agreed. and I will stop, based to ur comment. 😃 thanks
No no that's not true, forex market is never like a bet, with good analysis and strategic trades you can make way far profits than what you think.
Message my Expert Trader for more guidance on trading and how to make more profits.
*EmilyCatherineTrading*
.
@ *Telegram*
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@@i.1683 You're completely wrong. it's just like betting. Firstly you don't know whether the price will go up or down for certain even with all the analysis you do. Secondly, it's a zero sum game. Someone has to lose in order for you to make a profit. It's money re distribution not money creation just like gambling. Unlike investing in companies which pay out dividends, profits from trading in Forex come from capital gains i.e. from other traders. NO NEW WEALTH IS BEING CREATED, ONLY THE SAME MONEY BEING DISTRIBUTED LIKE GAMBLING.
JAZAKALLAHU KHAIRAH for your great explanation.
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
Thank you soo much. I received an message from a sister who was talking about making money from home on your own terms etc and when i looked into it it was a forex group. I was really considering it due to financial situation however was curious if it was halal or not. Im really glad i came across this video as a lot of the articles online claim its halal but are often written by the 'islamic accounts'
Kia Mujy Yh Urdu Mn explian kr degi
@@GiggleGalaxybaby forex halal nahi hai is ki puri tafshesh video me hai ke forex halal kyun nahi or kyun koi log galatfemi rakte h ke halal h
Thank🥰 you
I really love you as a Islamic brother
Allah give you success and jannah
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
leverage and loan are not exactly the same thing
Convincing explanation, many thanks
Thank you, it was very infromative. What about Bitcoin and NextGen currency. Are they permissible according to Islamic Law?
Very helpful explanation, Jazak Allah khair
Asalamualikum can you help me out here brother I opened my trading account in exness where i traded with with leverage and made about 1.30usd and then i tried to withdraw the money to find out if they charge in commissions or not but while withdrawing the money they do dont charge any commissions at all… its like i asked my friend for moeny then later gave him back with zero interest and commissions but at the same time im confused about how they are earning then is there something that im missing out here please clear my confusion 🙏
Jazak Allah khyren I was trying to find this for a long time.
People nowadays, even whole cube is haram, then find small dot is halal, everything will halal
Jazakallahu khairan brother please remember me in your prayers I am victim of this forex trading i was convinced that is not haram but if make me loose lot of money and after all is not halal as well
Sir please do a video on commodity trading in gold silver n oil
Trading gold silver and oil is directly haram
you explain Forex the best way .
@Islamic Finance Guru
Thanks for this brother.
I have one question. If I invest with a company that trades forex at 20%ROI in a month, is it haram?
I need to know this
@ seems like to me everyone wants it to be halal so much they will try and find any loophole to make it halal. I get it we all want to wealthy but is it worth it if we go against our religion
@@kirbi888 its hard because most major bank in any country do forex with out money and then return it as devident. Isnt this almost the same as investing to a company that do forex?
yes absolutely. it's HARAM. fixed ROI is impossible in real business, so it's RIBA.
Fixed rate is haram ..but wht about percentage of profit....,?if someone asks 10000 per month for his money.. its haram .what if someone asks 20 percent of profit..is it haram too..?it depends on the profit huh...maybe it will be high or less.. it depends on profit.. then how it becomes haram?
This is so helpful! Thank you so much!!
Salam alaykum very clear and now I understand more why it is haram but is there any way to build a brokerage company which is 100% shariah complient because if Muslim don’t try to find a solution for forex we will be left broke
Thanks for this comment @baba Cisse.
My view is that there are many sharia-compliant options for both long-term investing and short-term trading other than forex.
These halal options are:
Short-term trading: stocks and shares, crypto
long-term: everything you can think of
For the long-term options in particular check out: www.islamicfinanceguru.com/halal-investments/
The only way to trade FX in a halal way is to buy the currency outright and exchange the currency literally. Either by going to a money exchanger and buying/selling the currency hand to hand. Or doing the same online via your bank account. Obviously you will need huge amounts of cash to make this profitable as no derivative products are invovled and therefore it is not tenable.
www.vantagefx.com/trading/trading-accounts/islamic/ I found a sharia complaint with a certificate from a sheikh of the Sharia Supervisory committee signed by him
Also the brother in the video mixed a lot of concepts up especially the Base and Quote Currency bit, to let you know, interest is only involved when the swap fee charge is incurred for overnight positions taken
@@vbandz2645 Its fake, i emailed them. That sheikh is not known. They just paid a random person to sign and say that it is halal. A manipulvative way to get muslim customers.
Aslm sane scholar, my mind have be so doubtful about this forex that’s why when ever I want to indulge myself in I literally back off without a reason. Watching this video has given me the answer to what has transpired to me in this regard I thank god for emancipating me from the jeopardy of this act. Jazakallahu khair my scholar.
@Islamic Finance Guru
Excellent video...
Few questions:
What if the leverage is 1:1
I know they would still charge (spread), but it wont be as a return for the loan they provide.
regarding possession of the currency, when we buy the currency pair, we do have the right to keep until we want
Also most of the things nowadays are not completely acquired physically but we do have full control over them
I am only referring this for buying and not selling (as short selling is clearly haram)
Please advice
You have wrote down exactly what I was asking buying and making money and 1:1 leverage doesn't that make it halaal
Forex leverage is not haram because it doesn’t come with interest. Same thing with short selling there’s no interest in it.
@@SaadArshad17 Forex products are CFD, meaning contract for difference. referring to Product disclosure statement, you merely speculate on price, there is no exchange of money or asset between buyer and seller. no matter if you use leverage or not.
How is spot trading on forex also haram? Please someone guide me in detail.
I don't see why it's not permissible in Islam to use leverage (to borrow money from a broker) as we are bounded to the broker's t&c's such as commission, fee or spread whatsoever. it's the same story for if we're borrowing money from a bank to buy a house, we're bounded to the bank's term. Can somebody show me the dalil / reference?
Its haram because you trade contracts, not real currencies (cfd trading)
@@omarpip8641what? Your money in your ewallet is contract too because its not a value on paper note form?
I’m a fulltime forex trader. It’s not haram lol. It’s TRADING. Interest is haram. You can’t shut down my lifetime career with a 3 minute video. Allah knows best.
You’re still pay interests when you use CFDs, leverage, and short positions.
Sir I have a question ? You said that leaverage is haram because the broker also take interest on that amount which he give to you. So what about investing in a shop ? A man give some money to the owner of the shop and then take 20 or 30 percent from it as a partner in that business? Kindly clear about it
In your example there is shop between, but here if they are giving money, than they are getting money by money, there should be ant assets between
@@infotreetv1379 thanks 😊 now I will stop forex trading
@@infotreetv1379 by using the same logic if there is a shop there also in forex there is exchange=shop
Thank you for this informative video brother. You guys should really release content much more frequently. There is a dire need for personal finance content for Muslims. We need a credible knowledgeable team to share knowledge.
JazakalLaahu khairan... Now I take my heart off Forex, goodbye to my wonderful strategies. Lol
Haram or halal?
@@raheehaqtofficial idk is it haram or halal..he just stated there not permissible and derivative
I believe that if you take out the swap (which is interest and Islamic "swap free" accounts don't have that) it's halal. He talked out paying the broker a fixed fee for every trade. Don't we pay our banks a fixed fee on almost every transaction or like annual fee? So if that's haram, no Muslim should have a bank account right?
@@khalilurrehman3128 Brother if you listen to the video fully you would have heard it all. The issue of the Swap is one thing, if that is solved by the broker, what about the benefit they get from you just because they gave you the margin or the leverage or the loan , what ever you call it. Do you think the broker will allow you to trade with their loan else where or will they allow you to trade their loan without any charge, i mean any charge, completely free, with out charges between the spread- the difference between the ask and bid price- I think no.
So, there is clear Hadith the prohibits combining a loan and a sale or trade in the same contract, i.e a contract between you and the broker. so you see the condition here, the broker will not offer you the loan or the margin without expecting to extract a benefit from you Nor they allow you to take the loan and trade with it on an other platform, for example on an other Broker syste. Which both are not viable option for any broker
Jazakallh brother❤️
Thanks for the video, it was very informative. Could you do a similar vide on cryptocurriences?
Some say cryptos are more like virtual gold and aren't depended upon a 3rd party
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
Thanks bro Ibrahim very educational video,Love it
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
Thank you for making this video. this video helped me to understand, why haram is it
I don't understand why people will watch a vidoe which says Forex is Haram , and as they are so into making money, they will come up with millions of excuses not to believe what the guy is saying in the video. If you want to carry on with Forex then go ahead stop making excuses what u shouldn't stop as you believe its Halal
You're correct.....Forex is for everyone
after watching the video i'm closing my xm account , thanks for your advice
can you do a video about dropshipping ?
Forex is haram ? ( i’m french)
@@kosovcty1461 yes😁
@@mylife7764 but french islam say is not haram
May allah reward you brother helpin this ummah on the law of Allah s.aw.
Peace be upon you, I advise you to trade with Mrs Abigail Johnson she will assist you make huge profits in trading.
+1^2^1^3^9^1^2^3^7^4^2
I have a question and I’ll really appreciate if you answer. These days there is facility where any person can become an investor and can invest on professional forex traders who do all the trading. It is also called copy trading system. If a trader losses the investor also bears loss on other hand if trader gain any profit investor also gains profit. In return investor has to give a small % of profit to trader. Is this type of investment is Halal or Haram? As the invester is not doing trading he/she is only investing.
money is coming from haram source though
@@Skclearr agreed it is prohibited
Nice video, very informative! I think most of Muslim don't know this or don't wanna know 🤷♂️
Thank you brother, I have listened to some videos by some sheikhs who only made it more confusing because most of them are not well versed in finance. this video made it really clear. Now I know I should just stay away from forex. is there any Islamic investment you would suggest that is halal, jazak Allah khair brother.
Try out real estate but the halal way without any interest based
Thank you so much.
I learned a lot, may Allah guide us to the right way and bless what we can earn
I looked into fees associated with using leverage, you aren't charged for using leverage there's no fee associated with it. Can you follow up with a reply please.
Please are you serious ??
Yes i also looking for it a fees
@@bilyaminuyahaya2219 Ive reached contact with an employee at vantagefx, there’s no charge for the extension of leverage. The only fees are for swap and for placing a trade under the brokerage
I think the charges are for you placing a trade and also making use of their platform....something applicable to bank account.. You are charged for transfer, ATM charge and all the rest
@@nurudinabdkarimajose3035 that is exactly what the Scholar are saying the problem lies. since leverage is a loan, the loan provider who is your broker cannot benefit from you in any way shape or form even if the charges they charge is to do with your usage of their platform. The logic is, if the loan has go no condition attached to it for example, the condition could be , you can only access the loan via the broker's platform- than its permisable and halal but unfortunetly, no broker will accept this as there is no commercial advantage for them. Literely, they are giving you the leverage to use thier platform and trade through them so that they get benefit from you.
JazakAllah khairyun kaseer, cannot appreciate enough your content and your channel. Keeping creating content and educating people.
👌🏻💯