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Due to a lot of confusing answers I would request for a clear answer please to my question: Is forex trading halal from an Islamic account which is swap-free?

closed as unclear what you're asking by Bleeding Fingers May 26 '16 at 12:54

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Let see definition of Forex from Wikipedia:

The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. This includes all aspects of buying, selling and exchanging currencies at current or determined prices.

If it's for trading it's permissible for Islam. Generally Muslims see Forex halal supporting with this hadith:(I am getting this from islamqa.info)

“Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, same for same, hand to hand. If the types are different then sell however you like, so long as it is hand to hand.” Narrated by Muslim, 1587.

However, buying stocks from companies which are selling or providing non-Islamic products is not permissible. Like buying stocks from alcoholic beverage seller:

Narrated Anas bin Malik:

"The Messenger of Allah (Peace be upon him) cursed ten involved in wine: The one who presses it, the one who has it pressed, its drinker, its carrier, and the one it is carried to, its server, its seller, the consumption of its price, the one who purchases it and the one it was purchased for."

Jami` at-Tirmidhi Book 12 Hadith 1295

  • Assalamualaikum, Jazakallah khair for ur quick response.Actually i am totally new to this forex trading industry, i started it online a few days ago with an intention of making some extra income for my family(i am a doctor Alhamdulilah). when i signed up the company called easy-forex.com ,i introduced myself as a muslim who would want an interest free account and would like to tradekeeping in mind the laws of Sharia, – Sparkle May 28 '16 at 7:24
  • Now, i have started trading and choose permissible products like gold,silver, agriculatural products and currencies (mainly usd,euro,). my trade platform is buying and selling ,and i usualy close my position the same day .On doing this i do loose out some money and sometimes i make profit. So ,my question is am i going aout it correctly and is it permisssible this way in islam? Jazakallah khair – Sparkle May 28 '16 at 7:31
  • and please explain me what is the meaning of "same sittting" as here in easy-forex its online and we trade the whole day. – Sparkle May 28 '16 at 7:42

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