
PLEASE_WAIT
I am a follower (muqallid) of Ayatollah Mahdi Hadavi Tehrani. I would like to ask about the Shariah ruling on trading Forex and Gold (XAU/USD) through Exness.
In Exness's current system:
The underlying currency or gold is not physically delivered or owned by me.
The trade is conducted through a CFD, with profit or loss determined by the difference between the opening and closing prices.
Trades are placed using lot sizes (e.g., 0.01, 0.10, or 1.00 lot).
Through the margin system, I can open a position much larger than my deposited funds (for example, a $100 deposit may allow a position worth several thousand dollars).
I use a swap-free account, so no overnight interest/swap is charged.
In your previous rulings, you have stated that CFD transactions can be permissible when the transaction is considered a genuine/real transaction.
My question is: Does the above CFD-based Forex and Gold trading model offered by Exness qualify as a genuine CFD transaction according to your ruling? If yes, is trading under these conditions and earning profit from it permissible (halal) according to Shariah?
Assalamu Alaikum,
I am a follower (muqallid) of Ayatollah Mahdi Hadavi Tehrani. I would like to ask about the Shariah ruling on trading Forex and Gold (XAU/USD) through Exness.
In Exness's current system:
The underlying currency or gold is not physically delivered or owned by me.
The trade is conducted through a CFD, with profit or loss determined by the difference between the opening and closing prices.
Trades are placed using lot sizes (e.g., 0.01, 0.10, or 1.00 lot).
Through the margin system, I can open a position much larger than my deposited funds (for example, a $100 deposit may allow a position worth several thousand dollars).
I use a swap-free account, so no overnight interest/swap is charged.
In your previous rulings, you have stated that CFD transactions can be permissible when the transaction is considered a genuine/real transaction.
My question is: Does the above CFD-based Forex and Gold trading model offered by Exness qualify as a genuine CFD transaction according to your ruling? If yes, is trading under these conditions and earning profit from it permissible (halal) according to Shariah?
Thank you.
MAHDI, [24/05/1405 12:52 ب.ظ]
In the name of Allah
If CFD is a real transaction of a
real property then it is valid.
But it doesn't seem so!
Surely it's up to you to realize if CFD has the necessary conditions for being valid or not.
Website code number
en187
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