Is forex trading allowed in Islam? Are there Islamic Forex brokers? This is a confusing and difficult question that makes many people think about it. But do not worry, we will talk about this topic in detail. If you are wondering where I can get an answer is “is Forex halal in Islam?”, read on to find out the answer.
We are a group of Muslim traders interested in trading and investing online. As Muslim traders who adhere to the teachings of Islamic law in everything related to online trading, we wanted to make sure that other Muslim traders get accurate information regarding the Islamic rules. We have done in-depth research on Islamic Sharia laws to make sure that we are taking the right approach in our online transactions, which has become one of the most popular investments in recent years.
Why is forex trading considered a Halal in Islam?
Any type of contract, transaction, or money-making activity that involves Riba (interest) is strictly prohibited and Haram in Islamic law. Thus, the brokers used to provide forex services by adding interest on traders of any type of currency or asset that is kept open overnight.
Thereafter, many forex brokers took action to limit these transactions and responded to the market system by opening Islamic accounts, thus becoming pure Islamic forex brokers (halal forex brokers).
We would like to help all Muslim traders find the best halal brokers around the world. We are constantly reviewing different brokers around the world to help you find the best halal broker.
But the prohibition in forex trading appears in the following elements:
1- If the transaction includes outright Riba, which is the increase in the amount of the purpose (the rollover fee).
2- The combination of the loan and the interest, as the broker, does not lend to you for free, but to buy and sell through it.
3- The lack of acquisition (profit collection), as the scholars say, “the buying and selling of currencies often take place without a legitimate receipt.”
4- Damage to the economy due to the economic damage that this commercial transaction involves to the transacting parties.
When you trade forex you have to be very wary of the rollover charges as they are based on interest (Riba).
Other than that, forex trading is considered Halal in Islam if it is done without paying interest or additional fees, especially if the trader closes his deal on the next day or days.
We offer you premium and halal forex trading services at your fingertips while you are at home. Through the financial intermediary that we choose for you, no additional fees or interest will be charged for your trading transactions. We are here to make it easy for you to benefit from online trading the right way.
At Halal Trading Brokers, we offer you world-class Islamic forex trading solutions to keep your investment portfolio free from illicit transactions. We have meticulously met all the criteria so that we can help you find the best halal broker around the world. Below are the halal standards that we work on to provide you with high-quality services.
We make sure that the online broker’s forex trading uses the same standards as the approved brokers, but without any usurious interest or additional fees.
If you wish, we will provide you with an experienced professional trader who will trade on your behalf in a halal Islamic trading account that is free of interest.
We always suggest that you should look for a halal forex broker to invest your money online. We offer you the best halal trading brokers because we believe that forex trading in the correct manner and in the Islamic way is a halal financial transaction and must be done if you want to make a halal profit.
Halal forex trading is the best legit way to invest money online. We will guide you to the best halal forex broker through which you can follow the teachings of Islamic Sharia in online trading transactions. With us, you will not hesitate to invest in the world’s fastest-growing foreign currencies.
At Halal Trading Brokers, we will find you the best and most rigorous Halal brokers for your trading needs. So you don’t have to worry about looking for a financial broker that fits your daily needs. Leave your contact details below and Halal trusted broker ToTradeGlobal.com will contact you soon.
Open an Islamic forex account with a Halal broker
It is the right time to enter the forex trading market and diversify your portfolio with the most profitable options available in the market. At Halal Trading Brokers, we will help you by finding the best Halal broker that works with Islamic Sharia standards and teachings.
It will only take you a few minutes to open your Islamic Forex account. Most Muslim investors have already turned to halal forex trading to diversify their financial strength in the right way.
Halal brokers have been in the forex industry for many years and have helped hundreds of people find safe and appropriate investment solutions for them. Forex trading is straightforward with us, we have simplified the forex trading process for you so that you can understand everything clearly and transparently by finding a halal forex broker that suits you perfectly.
Do you have any questions? Leave your contact details below and Halal trusted broker ToTradeGlobal.com will contact you soon