Forex trading permissible with halal broker

Investment Questions and Chats General Investment
#22

Assalamualaikum Syeikh @Mufti_Faraz_Adam

Can this broker be said to be transparent in trading because the broker has a trade receipt feature that can see our trades being executed by the LP (Liquidity Provider) such as HSBC, SAXO, UBS, ect?

Probably currently the only broker that is transparent about how it conveys client transactions to LPs due to receipts for client trades.

The only drawback of the broker is that there is no Islamic account (swap free) but if we close the trade per day, no interest is charged.

Can the broker be said to be transparent in conveying our orders?

You can also ask about how the broker transacts because the CS is fast, friendly, and responsive.

Thanks Syeikh

#23

@Mufti_Faraz_Adam pls can you answer this​:pray:t4::pray:t4:

#24

I think it still uses CFD, so it’s still haram, i asked someone of knowledge and he said as long as they offfer CFD then it is still haram.

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#25

salam alaykoum brother

i wanted to ask for this new forex broker FP forex broker

please give me an answer jazakallah

#26

Again you Omar your repeating your self with the same argument CFD trading and ECN trading are realy different ECN trading, short for ‘electronic communication network’ trading, is a state-of-the-art trading method that operates on a computerised system. It matches buy and sell orders for various financial instruments, such as currencies, stocks, and derivatives. ECN trading allows traders to tap into deep liquidity provided by multiple market participants, resulting in highly competitive pricing, rapid order execution, and enhanced transparency.