Written Fatwa
Is Forex permissible?
Is Forex not permissible?
In general, currency exchange is a type of trade and is permissible. What is objectionable in foreign exchange trading is that the money is not immediately transferred to the account, is not delivered in cash or has interest. For example, applications such as margin trading or overnight pricing, which may occur with Forex, make this trade inconvenient. A Muslim must know: The test of this ummah will mostly be based on wealth. As the Day of Judgement approaches, this test will be more complicated. Allah help us.
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