Is FTMO funded forex account halal?

Assalamu alaykum,

I have been looking for an answer on this topic for a while now, but every forum I’ve looked at doesn’t have a straight yes or no answer so if there is anyone that knows about forex trading here could you please look into this jazakum Allah khairan.

FTMO is a company that provides traders who pass their test, with funded accounts with up to 200,000$ to trade with. There are no fees or interest involved with these accounts and the only thing is that they take a 30% cut from the earnings of the trader, I just wanted to know if it is permissible to trade with them since there is no interest involved.

You can read more about them on their website

Wa alaykum salaam,

Most Forex platforms do not trade in the actual currencies. Retail forex is generally considered not Shariah compliant by most scholars.

Assalamualikum wa rehmatullah,

So which forex platform/account is halal to trade?
Can’t IFG or Wahed build the sharia compliance forex trading platform?

Salam Alaykum,

I am also wondering about this matter. If the current platforms are dubious or disallowed, then there should be some online platform brought about to meet the permissibility guidelines - just like how little by little we seeing Islamic solutions envisaged for home loans, insurance, etc.