Could you advise on the permissibility of CFD, ETF - not owning the underlying asset/ owning of contract.
In this instance, platform etoro seem to sell Ada Cardano as underlying asset and store in cold storage, however purchasers are unable to move to personal wallet - seeming it to be a cfd or contract.
Could you advise if you purchase on premise you are buying underlying and it transpires you are buying a contract is permissible.
And if buying cfd/ contract direct would be ok also.
Wa alaykum salaam,
CFDs and any instrument which do not give you ownership of the underlying asset are not Shariah compliant.
I would advise against investing in such areas without a Shariah certificate or a thorough review of what is actually happening.
Dear mufti in eToro there is some shares before you buy you see word you are buying the underling asset and another like ada CFD in such case is that mean when you buy underling asset you own it ?
Also what about interactive broker and eToro even when we buy but actually we are not the owner our name not in nasdaq but in their plattform they give as dividend and rights of having the stock is this halal or not do I need to open direct account under my name in market through out broker there not online broker ?
Dear mufti Faraz
May you replay of what I have writien jzak Allah ker