Freetrade are currently engaging in a crowdfunding opportunity. Freetrade themselves is an investment platform that allows individuals to invest in stocks and shares, as well as earn interest through Cash ISAs. They are known to allow for both halal and haram stocks to be invested.
Currently they are doing crowdfunding, to buying shares of the Freetrade company itself. I was looking into whether or not this would be considered a halal opportunity to invest into, or is it not permissible? Jzk
Wa alaykum salaam,
Since freetrade is a platform that offers non-compliant stocks, ETFs and investment trusts, they are offering non-compliant products and services. Therefore, you should abstain from gaining equity in a business that fundamentally offers non-compliant products and services.
Allah knows best
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السَّلاَمُ عَلَيْكُمْ وَرَحْمَةُ اللهِ وَبَرَكَاتُهُ
How are you Mufti Faraz…my name is Junaid and i am from Pakistan.
Is ITP corporation halal or haram…it is AI cryptocurrency trading platform in which we invest dollars and the ITP gives us fixed percentage on those dollars…
For example i deposit 100 dollars and the company give me 2.5% fixed profit on those 100 dollars and then that profit will be added to my 100 dollars for example it become 120 dollars so on next day the company will give me 2.5% profit on that 120 dollars and the profit will be added to those 120 dollars and suppose it become 150 dollars and on next day the company will give me 2.5% profit on those 150 dollars and vice versa…the company uses arbitrage trading as far as i am concerned it is halal but is the profit halal or haram??? Please mufti i am waiting for your reply…Assalamualaikum