Websites like eToro offer services where you can buy and sell currenciescommodities gold, silver, oil, etc. The way it works is that, for example, you buy gold or euro at a price from the current market and later sell it for a higher price if the price goes up. Now, you predict the market and think that euro may rise against dollar or vice versa, which may or may not haram. Detailed answers with authentic references are appreciated. The comments to this question convinced me that it was Halal, until I read the following on eToro. Both FX and commodities are traded in the spot market for 24 hours. With an Islamic account we make sure that there is no Riba in any form throughout the duration of the contract. However with an eToro Islamic account, forex your positions will be closed at pm pm UST and you can then reopen them immediately in order to avoid all interest problems and trade according to Islamic Sharia law. If the client chooses to reopen a trade immediately, the client will not pay any usurious interest. On the one hand, it requires the simultaneous exchange of currencies, which makes it a kind of hand to hand exchange. On the other hand, haram scholars consider the record of money transferred to or from a bank account as delivery. To resolve the haram, several decisions and fatwas have been issued. According to these decrees, the conditions for trading currency are: The currencies needs to forex transferred from the account of the seller to that of the buyer and vice versa No interest on trades. In the case that there is any usurious interest, the contract will be invalid, void and Haram. The company must not have a product which is forbidden in islam, haram, interest based loans etc etc The company must not be using money from shareholders and sticking that money into an interest based account and earning interest on it However, you can still find companies through which you can still get into the stock market in a halaal manner. For example, HSBC Amanah Freedom Plus accounts, let you do just that. For example, they have scholars who monitor the funds and make sure they are halaal. As soon as they are found to be haraam, a particular stock from a fund is removed. Plus anything related to interest is automatically removed from the funds and given to charity. Assuming the definition of riba is not derived from ra-ba-wa to grow as hinted by Allah SWT atwhere by there is no notion of growing in riba, but rather riba would have something to do with ra-ya-ba or uncertainties such as futures, hedging, etc. The abuse of ra-ya-ba to the point of harming others is what i define as riba. Cases like anticipating a hardship season to come, would be an example of a good for others. Cases like insider trading would be bad for others and be categorized as riba. Thank you for your interest in this question. Because haram has attracted low-quality or spam answers that had to be removed, posting an answer now requires haram on this site the association bonus does not count Would you like forex answer one of these unanswered questions instead? Detailed answers with authentic references are appreciated EDIT The comments to this forex convinced me that it was Halal, until I read the following on eToro Both FX and commodities are traded in the spot market for 24 hours. According to these decrees, the conditions for trading currency are Immediate buying and selling without forex The currencies needs to be transferred from the account of the seller to that of the buyer and vice versa The cost of the trade should be paid without delay No interest forex trades. However, if you invest without speculating, that is fine i. We are glad to have you as part of our community. Please take a look around at highly upvoted questions and answers, as well as the FAQ to get an idea of what we expect here. We typically expect answers to comprehensively address the question that was asked, backed with references and proofs. Based on my own research, here are the problems The company must not have a product which is forbidden in islam, alcohol, interest based loans etc etc The company must not be in debt, haram. As written, this post looks like mere personal opinion and should be backed up by forex or it risks deletion.
If the two parties had been wise enough to perceive that the emperor was right, the Christian world would not have been stained with blood for three hundred years.
After the war, Prime Minister Billy Hughes led a new conservative force, the Nationalist Party, formed from the old Liberal party and breakaway elements of Labor (of which he was the most prominent), after the deep and bitter split over Conscription.
They again fall back on their lament that the problem is the definition of the environment.
Submitted by Yuli.Soto (not verified) on August 18, 2014 - 1:12pm.
If the two parties had been wise enough to perceive that the emperor was right, the Christian world would not have been stained with blood for three hundred years.
After the war, Prime Minister Billy Hughes led a new conservative force, the Nationalist Party, formed from the old Liberal party and breakaway elements of Labor (of which he was the most prominent), after the deep and bitter split over Conscription.