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Forex and Islam

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Noviarini


Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.


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#1 - February 10, 2019, 11:18:05 AM

farisfx

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.

I also agree with you about forex in Islamic law is indeed not prohibited.
#2 - February 10, 2019, 11:22:51 AM

ASHfx

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
in my opinion the breakthrough with the existence of this Islamic account is very good.
the first to avoid the flower-based Muslims banned by Islamic Shari'a.
the second gives tolerance to Muslims so that there is no doubt in carrying out this forex trading / trading.
and the last is to give freedom to non-Muslims to use the system that is profitable.
#3 - February 10, 2019, 11:54:43 AM

rafid

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I think this is still a debate, the problem is whether trading with this leverage system is allowed in Islam? I have also heard the opinion of people that forex trading is not allowed because we don't hold the goods directly
#4 - February 10, 2019, 12:03:08 PM

Lordmishi

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
If you muslim then use free swap for muslim, it is not prohibited tough. Forex is pure buy and sell
#5 - February 10, 2019, 12:17:03 PM

Alsa

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
I agree bro, if forex is prohibited in Islam then all forms of currency exchange must also be banned and of course this will be very troublesome because in Islam there is a Hajj and Umrah service which is of course needed Arabic currency while the Hajj and Umrah pilgrims come from various countries all over the world it is necessary to exchange currencies from their respective countries into the Arab currency and from here forex transactions take place so it is inappropriate for forex trading to be carried out
#6 - February 10, 2019, 12:23:36 PM

sri_yuliati

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
forex not same with binary..
i think binary is gambling because they make own market..
no economy news in binary..
#7 - February 10, 2019, 12:26:59 PM

Alim muntolib

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Quote from: sri_yuliati on February 10, 2019, 12:26:59 PM
forex not same with binary..
i think binary is gambling because they make own market..
no economy news in binary..
really your opinion, between forex and binary at a glance is similar but actually very much different, I strongly agree you say that binary is gambling, and how the transaction is pure gambling.
#8 - February 10, 2019, 12:34:35 PM

MonsterFX

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
Yes ... I agree with your opinion, even though there may be different opinions, but the important thing is to respect mutual respect even if you disagree.
#9 - February 10, 2019, 01:07:14 PM

Iqbaleee

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
yeah it is haram because the swap .. therefore for muslim i guess to use islamic account that no swap . so it can make you feel free on trading .
#10 - February 10, 2019, 02:03:24 PM

shasha_queen

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the money in the forex account already reflects our real money ... just like atm ... we transfer money to someone else's account ... that's what we play is typing in the numbers ... and finally the money is sent to other people's accounts ... so too in forex. What we transact is money in the form of numbers as it appears in the atmosphere earlier ... so the money in the forex account is real and reflects our money ...
#11 - February 10, 2019, 02:34:39 PM

bagaskara30

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maybe that makes trading prohibited because of commissions and swaps but now most brokers have made Islamic accounts
#12 - February 10, 2019, 03:27:10 PM

Aranchar

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Quote from: Noviarini on February 10, 2019, 11:18:05 AM
Many people also believe that Forex is prohibited in Muslim countries. However, this is not entirely true.
Islamic sharia law, namely Islamic law, prohibits giving or receiving flowers of any kind. The reason for this ban is based on the fact that followers of Islam must give only to give and not get something. So, based on that belief, Forex trading is not prohibited but exchange.
Swap is a daily fee or withdrawal of money from a trader's deposit to transfer positions on open trades past midnight.
But in cases like this, there are free swap accounts or Islamic accounts without swaps. All commissions in the form of interest do not exist in Islamic accounts. So sharia law is not violated and Forex can be accessed by everyone.
if trading forex is linked to Islam
chances are there will be many pros and cons
hugely if we talk about religion it's very sensitive
but if I may think we are re-establishing the principle of each trader in uncovering this
#13 - February 10, 2019, 03:34:17 PM

Purple

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now many brokers provide Islamic accounts, maybe we can use these facilities .... and many articles that explain how to trade with sharia ... I hope in this forum there are many articles that discuss Islamic trade
#14 - February 10, 2019, 04:27:56 PM

ariezz

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In my opinion there is indeed an Islamic account (no swap account) but as long as the Islamic trader trades the wrong way it will be the same law. The most important thing here is how do we trade whether we have followed the agaama Shari'a correctly or not, the swap issue has been resolved, namely by choosing a swap / Islamic account
#15 - February 10, 2019, 05:13:55 PM
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