Is Forex Halal or Haram? We Have Done The Research For You
Is Forex Halal or Haram?
It’s difficult to answer but you do not need to worry, we have done the research and would be happy to make available our results. We are a group of religious people, just like you, and we have done deep research to make sure that not we nor any Muslim trader fails to follow the laws of the saint Muhammad, our beloved prophet.
Talking about the Forex, Islamic authorities agree that there is no doubt that the exchange of currency (in some conditions) is permitted in Islamic laws. If you are also confused about Forex trading in particular, we will help resolving the differences between what is right and what is wrong, what is Haram trading which is strictly forbidden, and what is considered Halal trading – which is welcome and allowed..
To summarize it all for you, and present an immediate bottom line: everything in which you are not gambling and you know your end goals is Haram. Everything related to gambling and trying to forecast results on a “wish” basis – is Haram and forbidden by Islamic laws. You can say that there is a thin line between gambling and trading but we will clear the clouds for you to understand the differences. If you are putting your money without doing any research or knowledge, wishing a great results for you which is not connected to real value and only rely on luck – it is called gambling and it is Haram and forbidden.
If you are analyze the market, calculate trades, examine the entire process and treat it as a job rather than a gambling game, it’s Halal for you. If you understand what exactly you are doing and when and how to invest money into the Forex market, this platform is Halal according to Islamic laws.
To be more clear about how Forex is Halal, here are a few points that will help you decide whatever you are doing is Halal or Haram. Check out these sacred principles of Islam:
- In Islam, gambling is strictly prohibited. But, it’s not wrong if you are treating Forex trading as a job. It’s not counted as Haram because you are sincerely pursuing your work and for providing food and shelter for yourself and family.
- Taking any kind of shortcut that will bring you unjustifiable profits without doing any work is Haram in Islam. But In Forex trading, you become a member of the organization by owning a part of it – should it be a stock, a currency or a company share.
- Riba is strictly prohibited in Islam. Riba is an unjustified profit or interest in borrowing or lending money as a condition imposed by the lender or voluntarily by the borrower. Riba is considered as a Haram and strictly prohibited in Islam. Holding a stock’s position overnight by paying charges comes under Haram and it’s known as swapping. That is the reason why we help you with opening a swap-free account. We connect you with the best Halal traders all around the world that will assure you that you are covered from all mistakes.
Is Day Trading Haram or Halal?
With more than one-fourth of the world’s population is Muslim, an obvious question arises in mind – should a day trading be considered as Halal or Haram? Our Islamic religion governs various precious principles to decide whether a thing is Halal or Haram.
According to pious Islamic rules, when you are buying shares or trading in Forex (foreign exchange of currencies), you are owning a piece of business or a coin. If you are just receiving a portion of undefined and high interest from some source that you can’t justify, that comes under Haram.
But when it comes to day trading, it’s easy to look at this process by adhering to our Islamic principles. When you open a Forex account or buy stocks from a company, no you are an official member of that organization.
And, when you are a member of an organization, you are sincerely following your job and this is allowed in Islamic principles. To make this understand more quickly, consider the following example:
Everything is Haram if you are doing something that you don’t know if it’s gambling or not. For example, if you are investing your money into something to get a good commission without any end goal or do work, that is Haram.
Forex trading comes under the pious principles of Islam that thousands of super-religious Muslims including us are doing. We have helped hundreds of traders by connecting them with Halal brokers across the world.
But with us, we connect you with the best Halal brokers around the world that will help you with Forex trading. If you are trading with a Halal Forex broker, they will help you create an Islamic Forex trading account that is truely permitted in Islam.
We Will Help You Open a Halal Trading Account:
At Halal trading brokers, we connect you with the best Halal brokers across the world. We are on a continuous search for the best Islamic Halal Forex brokers who strictly follow the Islamic rules.
If you are new to Forex and looking for an Islamic Trading Account, we have got you covered. We are a super-religious group of people that helps Muslims not to fail in the pious Islamic principles while trading in Forex.
You can anytime use the contact form and get in touch with us. We will connect you with a professional Halal Forex trader in the entire world. So, you don’t have to worry about if the broker is Halal or Haram. We will only find the professional Halal broker for your Forex trading.
If you are thinking about why you should invest your money in Forex, we can explain. As the entire world is moving towards more digital trends, the investment platforms are also changing. In this digital era, Forex is among the most profitable and legitimate way of diversifying your portfolio without failing in Islamic rules.
If you invest your money into a company that deals with alcohol, tourism, night clubs or riba-based bank bonds and shares, these all things are Haram If you ever put your money into any one of these things, you will fail to follow Islamic rules.
But when we look at Forex trading, it’s completely a different thing and not related to any above commodity. When you are investing in Forex, you are putting your money into a company as a partner.
We Work Only Only With Professional Halal Trading Brokers
From above, we have understood that Forex is a Halal and not Haram. It’s like doing business and earning money from it by working for that. If you are seeking the best Halal traders, we are here to help.
We review different brokers all around the world to provide you quality trading services. We are also a group of super-religious trading people who wants to help Muslims to trade in Forex with best Halal brokers. If you go online and search for Halal Forex traders, you will get overwhelmed by the results.
Many brokers claim to be a Halal but who knows if they are following Islamic rules or not. We make this process simplified for you. We are a team of professional traders that review traders online and only contact you with actual professional Halal brokers. It’s better not to search for Halal brokers if you are not sure if they are halal or falls under Haram.
We have done deep research on ourselves and follow strict Islamic rules to make sure to cover you from any kind of scam. We review every broker with all Halal rules to make sure they are on the right side and not doing anything wrong.
From the above understandings, it’s clear that the Forex trading falls under Halal and it’s permitted by Islamic laws. You don’t have to think twice about Forex, we have got you covered by connecting you with professionals.
You just need to get in touch with us and we will find you the best professional Halal broker company all around the world. Be a part of our fastest-growing Halal forex community and grow together with us. In case, if you feel any doubt in mind, just fill the contact form.