CFD, ETF - not owning the underlying asset/ owning of contract

#1

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.

#2

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.