Online forex trading
Question
Is online forex trading permissible? Many brokers offer Islamic non-interest accounts. I intend only trading in gold. Is this fine?
Answer
If you are referring to purchasing gold online in exchange of money, it is permissible on condition that you take possession of the gold. However, if possession of the gold does not take place, the transaction will not be permissible.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.