AoA i have a question regarding trading bull and bear token in spot trading . Is it halal to trade them because they have leverage , but no liquidation, margin in it. Like Eth bull and bear token. Please guide me in this regard as i search about them but can not find an answer i think the term refer to them is ftx token in poloniex exchange
WA,
Did you find any thoughts? I have the same question, and as you mentioned, it is difficult to find answers online.
Thanks! Jazakum Allah Khairan
According to my idea it is halal because we are trading it in spot trading but my biggest concern is if any element of interest is not involve it.
Thanks for the reply. Is there any difference between them and those listed on binance?
Bro don’t start trading these ftx tokens yet until we find a solid answer and there is no difference between them. These are ftx tokens. You can search for ftx tokens.
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Yes, sure. I won’t until we get a solid answer. Thanks for sharing your thoughts.
These tokens operate with leverage/perpetuals on the backend, even though you are purchasing it on spot.
Assalaamu alaykum,
These leveraged tokens are not Shariah compliant.
Leveraged Tokens hold perpetual futures on FTX. That means that they will get their exposure to the underlying assets through the perpetual futures. That also means that they will be subject to the price movements, premiums, funding rates, etc. of the perpetual futures.