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I am in the process of buying domain names and then later on selling them for a higher price- assuming someone is willing to pay for them.
What is the ruling on snapping up something undervalued and later, within a few months or years, selling them for a higher price? I have heard somewhere that this kind of trading is considered Haram in Islam because it's against the fair market value and will be taking unfair advantage from people's needs.
Extract from fatwa:
There is no limit to profits in trading, rather the matter is subject to supply and demand. But it is good for the Muslim, whether he is a trader or not, to be easy going in buying and selling, and not to exploit the opportunity of his counterpart’s carelessness to cheat him in buying and selling. Rather he should pay attention to the rights of his Muslims brothers.
Source of fatwa: islamqa.com
