Withdrawing from a Forex broker
Question
I have a question about withdrawal from a broker. I know FOREX trading is a separate issue, but lets say you do.
My question isn't about FOREX specifically, its about withdraw. Lets say our first initial deposit is $1000, then you make profit and your account becomes $5000. Now some brokers will say that first you have to withdraw your initial deposit, then you can withdraw your profit. This is haram. But if the broker lets me take all my money, then its halal. Please explain why the first scenario is haram.
Answer
This investment seems to be a partnership. If it is a partnership and you wish to continue and retain the partnership then we will advise you on how to withdraw so that the partnership may be able to continue to function.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
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